11/8/2022 0 Comments Timecamp payment gatewayTherefore, the price that comes with using cryptocurrency payment gateway services might be considered their biggest downside. After that, the seller can choose to withdraw the money to a specific bank account.Īlthough this system makes it incredibly convenient to make purchases using crypto, keep in mind that payment gateway service providers are intermediary companies that need to charge a service fee in order to keep operating. That amount of fiat money gets deposited to the seller’s account with the service provider. Then, once a customer selects crypto as a payment method on the website, the digital currency instantly gets converted into fiat money based on the current market value of the digital currency in question. The way this works is pretty straightforward: a merchant opens up an account with a crypto payment gateway service provider and integrates their payment processor with his or her website. By incentivizing sellers to adopt crypto as a payment option without having to bother with crypto wallets and exchange accounts, coin holders are able to utilize their digital assets for real-life purposes and expand their possibilities in the online shopping sphere. These are managed by third-party service providers.Īn ecommerce cryptocurrency payment gateway creates a win-win situation for merchants and crypto aficionados alike. What is a Crypto Payment Gateway?Ī payment gateway integrating cryptocurrency is a payment processor whose function is to convert payments made using digital coins into fiat money like USD or EUR. #TIMECAMP PAYMENT GATEWAY HOW TO#In this article, we will try to clarify everything regarding cryptocurrency payment gateway services, answer questions like how to integrate a cryptocurrency payment gateway to your website, as well as go over the best payment gateways for cryptocurrencies today. These advanced payment tools enable sellers to process payments using crypto and receive any other currencies of their choosing, including fiat ones. To help bridge this gap for ardent supporters of traditional money and aspiring coin holders, crypto payment gateways come into play. Alternatively, they do have a desire to enter the digital coin market, but are unsure where to find secure ways to buy crypto with a debit card in order to get themselves started. Indeed, many online sellers are still largely tied to and dependent on the fiat world, and they prefer to limit their websites’ payment options to fiat currencies. In spite of the growing popularity and widespread use of digital assets across the world, there are still plenty of ecommerce business owners who remain apprehensive about the cryptocurrency market and the use of bitcoin and altcoins to make purchases. © Tap2Pay What is a Crypto Payment Gateway and How Does It Work?
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