Crypto payment gateways

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Assalamualaikum steemians

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How are you? Hope so everyone would be safe and sound just like me as I am also safe Alhamdulillah...

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Today I'm going to talk about Crypto payment gateways that what are these and I am going to talk about their benefits, their working, their popularity and their important considerations.

Basically Crypto payment gateway some of the solutions that have their role in revolutionizing the way in which businesses are accepting the online payment and the solutions are important merchants for accepting cryptocurrencies like BTC just wait is providing more secure and cost friendly alternative than traditional methods of payments.

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Benefits of Crypto Payment Gateways:

• When we compare fees of transactions of traditional payment processors with fees of transactions of Crypto payment gateways then it is significantly low transaction fees in Crypto payment gateways.

• Crypto payment gateways are responsible for settlement of transactions in real time so it eliminates the need of any intermediate entity and help in reducing of settlement time.

• Crypto payment gateways are more resistant for any kind of elicit or fraudulent activity and hence they are very secure which is another benefit of it.

• When I talk about Crypto payment gateways then there are very simplified refund processing in it in a quick and efficient wave so it reduce the complexity of refund process this is more complex in traditional payment method.

Crypto Payment Gateways Working:

• For understanding working of Crypto payment gateways first of all there is a need of integration in which merchants are responsible to integrate payment gateways into their applications of website.

• Next step is to select the customers so that they may select their currency type that they want to use for payment.

• After that transactions are process to buy Crypto payment gateway process which ultimately convert cryptocurrency into fiat currencies even if it is required.

• After that merchant can receive and can get settlement in the currency which is preferred by him.

Popular Crypto Payment Gateways:

• Some of the most popular Crypto payment gateways Bitpay, Coinbase commerce,Opennode,Coingate etc.

Implementation and Regulatory Considerations:

• First important consideration while the implementation of Crypto payment gateways is that merchants should always comply with some regulations which can include know your customer and anti money laundering.

• Infastructure which is already existing merchants should always try to integrate the crypto payment gateways into that existing infrastructure.

• There is an important consideration of price fluctuations of cryptocurrency which can happen in a quick way you all know so in this way there is a requirement from merchants to manage the fluctuations in the price of currencies.

• Last but not least customers that are using cryptocurrency payment method should always be supported by merchants so that their comfort level would remain maintain.

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That was all about my topic in which I have discussed in a completely that how to payment solutions are offering wide range of benefits and what about its working I have explained in step by step explanation. Not only this I want to say that with the passage of time adoption of cryptocurrency are increasing that's why it is important to understand Crypto payment gateways for shaping the future of online payment methods.

That was all about my topic and I am hopeful that it is understandable for everyone.

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Thanks

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