Crypto payments have started becoming an essential part of some businesses. There have been over 970 million Bitcoin transactions till now, which indicates a 90% growth in the number of transactions over the last year.
Some mainstream organizations have also started accepting crypto payments, all thanks to some service providers (known as crypto payment gateways).
Some features become necessary, especially for merchants accepting payments in crypto. In this article, we’ll discuss 5 important reasons to accept crypto payments with Coinremitter.
What is Coinremitter?
Coinremitter is a crypto payment gateway that allows merchants to accept crypto payments from their consumers on behalf of their products or services. It provides features like crypto API, plugins, and invoices to simplify the process of accepting payments in crypto.
Reasons to accept crypto payments with Coinremitter:
- Low Fee
- Vast Plugin Support
- Easy Crypto API Integration
- Security
- No KYC, No Bank Account Needed
Low Fee
This can be the deciding factor for any merchant. The key purpose of being a businessman is earning more benefits. However, sometimes fees may eat a major part of merchants’ profits. There are two types of fees on Coinremitter, transaction fees (gas fees) and processing fees (withdrawal fees).
Transaction fees aren’t the same for every cryptocurrency, but this is not the case with processing fees. Coinremitter charges a 0.23% processing fee for every cryptocurrency, which is 50 to 75% less than the average processing fee (i.e. 0.5% to 1%). Merchants can also reduce transaction fees (gas fees) on cryptocurrencies like Ethereum, BNB, USDT-ERC20, and USDT-TRC20 with the help of the Gas Station.
Merchants can enable the gas station feature and deposit the gas balance in advance to a unique crypto wallet. The gas fee will be extracted automatically from that wallet whenever a transaction takes place. Merchants are advised to keep an adequate gas balance to avoid higher fee deductions.
Vast Plugin Support
Merchants can use Coinremitter’s crypto payment plugins to accept crypto payments directly on their websites. As of now, Coinremitter’s plugins are supported for WooCommerce, Magento, OpenCart, PrestaShop, PHP, Laravel, and Node JS. If merchants own a website based on any of these platforms, then they can easily install a compatible plugin from Coinremitter. This will help merchants add the crypto payment option to the checkout.
Easy Crypto API Integration
Coinremitter introduces crypto API as an alternative to its crypto payment plugins. If a merchant cannot find Coinremitter’s plugin for his website, he can integrate the required crypto API for adding the crypto payment option to his website.
Coinremitter claims to provide one of the easiest APIs. Some important features including API withdrawals are also accessible directly through the API docs. Merchants just need to get the API key and password from the credential section of a wallet (of which a merchant wants to use API features) to access those features.
Security
Account security and fund security matters the most while transacting online. Coinremitter provides some account security features that help you prevent unauthorized logins, they’re as follows:
- Two-Factor Authentication: This feature adds another verification step through Google authenticator for a secure login.
- Code Card: This feature allows account recovery when a merchant loses access to his Google Authenticator account.
- Login History: This feature shows all the recent logins to let merchants find unauthorized logins (if any).
- Login Shield: This feature sends an OTP to the account holder’s email address for a two-step verification.
- Login Notification: This feature sends an email notification to account holders for every login.
- Active Login: This feature contains a list of all the active logins and lets merchants log out from any device, which lets merchants find and prevent unauthorized access.
Fund security has also been respectable. For example, there is a feature named auto withdrawal, which keeps transferring funds to an external address every 30 minutes. Which can keep crypto funds safe from server errors or internet blockage. Also, merchants can disable API withdrawals from their respective wallets if they suspect any misuse of their API keys and passwords. Setting a withdrawal limit also prevents hackers from withdrawing a higher amount.
No KYC, No Bank Account Required
According to a report, about 50% of individuals are concerned about their identity online. Considering this, there’s no need to go through the KYC process or add a bank account to accept crypto payments. Merchants can accept crypto payments without such formalities and withdraw their funds directly to an external crypto wallet.
Conclusion
Seeing the features, Coinremitter deserves a respectable spot in the crypto payment gateway market. It balances basics like fees and privacy and advances like fund security and account security. However, there are many reasons for accepting crypto payments with Coinremitter. But these five remain the most promising ones of them.