Knowing the Secure Payment Gateways for Cryptocurrency and Forex Brokers around the Globe

To begin with, a ‘cryptocurrency payment gateway’ is a platform that allows traders and merchants to receive payments globally in the form of cryptocurrencies through the sale of goods and services. It is a kind of a ‘payment processor’ for digital currencies and digital wallets.

Today, merchants are not only able to receive digital payments through these highly secure gateways, but also receive fiat money/fiat currency in exchange. These crypto-payment gateways act as intermediaries between the client and the merchant. With the integration of these crypto-payment gateways, a business can now accept payment on eCommerce platforms, websites, Android applications, and in some exceptional cases; brick & mortar stores too.

How does it actually Work? – An Overview of the Payment Mechanism

When a customer buys a product or service using cryptocurrency as the payment method, the said transaction actually goes through a 100% secure digital payment gateway at a fixed ‘currency exchange rate’. Thus, it automatically gets converted to government-issued fiat money or fiat currency, thereby enabling the merchant to get past the ‘high’ volatility rate in the crypto market. However, there are a few exceptions. Some cryptocurrency payment gateways do NOT automatically convert crypto to fiat money, thus allowing businesses, merchants and traders to hold the digital currencies in their crypto wallets, as long as they wish.

Product Qualification Criteria for Inclusion in Crypto-Payment Gateway

• Ability to process and accept crypto payments.
• Integrate all transactions with eCommerce platforms.
• Secure storage of cryptocurrencies in e-wallets.
• Able to utilize blockchain technology for encrypting transaction-related information.

Some Popular Cryptocurrency Payment Gateways for FOREX Brokers

As cryptocurrency and blockchain payment gateways tend to offer comparatively lower fees than traditional credit card payment systems and can be customized to track all payments, they are highly popular among merchants. Bitcoin and USDT is the most used cryptocurrency, followed by Ethereum Pay, Litecoin & Bitcoin Cash. And, the most popular gateways or cryptocurrency payment processors are Coinbase, CoinGate, CoinPayments, CoinsBank, Coinify, CoinsPaid, Coinomi, UniPayment BitPay, NowPayments, ShopifyGateway, AlfaCoin, GoURL, and more. Let’s look into some of the most used gateways and platforms. The top 7 picks.

• Coinbase –

It is a system or platform where merchants across the globe can trade in, accept and track miscellaneous digital currencies, all in one place. Thus, a highly secure platform for crypto transactions, where one can store or save currencies offline. Here, merchants can link their bank accounts with digital wallets, and trade in different digital currencies and cryptocurrencies.

• Unipayment –

It is regarded as the most affordable crypto-payment processing platform, as it offers the ‘lowest-in-class’ processing & transaction fee, UniPayment also supports popular currencies like Ethereum and Bitcoin. What’s more, merchants can accept payments on this platform, without getting into standard formalities like Know Your Customer (KYC) or adding bank details. Moreover, this crypto payment processor offers free API integration support & plugins that can seamlessly integrate into websites, thus enabling merchants to accept payments online in their digital wallets.

• CoinGate –

This payment gateway is a perfect solution for individuals, merchants and businesses that want to trade in cryptocurrency. With just one transfer, a trader can buy crypto from various sources and sell it in exchange for fiat currency. Merchants can also exchange their revenue earnings in fiat currency. This platform is highly secure to use for Crypto & FOREX brokers, as they can store cryptocurrencies in ‘Cold Storage’.

• CoinPayments –

This particular payment processor supports various cryptocurrencies like Litecoin, Bitcoin and Ripple, making it a highly sought-after crypto gateway application for traders and merchants. Here, users are charged a transaction fee of only 0.50%, which is comparatively cheap. Moreover, users can avail a 50% discount on hosting fees and rebates on online withdrawal charges. And, with the availability of mobile Apps on IOS and Android, it is one of the top 10 payment gateways in 2023.

• BitPay –

It is a US-based crypto payment system, wherein users can trade in cryptocurrencies globally, thus enabling them to buy, sell, store, or swap their currencies from one secure and ‘easy-to-use’ platform. Here, users can buy digital currencies, using their credit & debit cards. Also, one can buy gift cards using crypto from their digital wallets. With best-in-class security features in place, BitPay supports miscellaneous cryptocurrencies, helping merchants to convert their Bitcoins to USD for emergency spending. This gateway has a transaction fee of 1%.

• ShopifyGateway –

It’s arguably the most popular crypto payment gateway in the world for all kinds of cryptocurrency-based transactions and trade. It offers top-notch security, apart from being exceptionally user-friendly in nature. Through this payment gateway, users are able to accept digital currencies into their wallets from any part of the world, and at any time of the day or night. This platform allows highly transparent, fast and seamless processing of payments.

• GoURL –

A crypto payment processor and service provider, offering Bitcoin plugin to users that easily integrates with WordPress websites. Here, merchants are able to accept cryptocurrency payments, without the need for a website. This secure payment gateway charges a commission of 1.5% for its services, and it is 100 FREE of cost, if the user is going via a crypto wallet. A perfect payment processing platform for merchants who value anonymity and security. With this highly secure platform, a merchant gets a clear breakdown of transactions that are completed within a span of 30 seconds.

An Overview

These were some of the secure cryptocurrency payment gateways that forex brokers and crypto traders can take full advantage of, especially when it comes to cost-cutting, faster, efficient, and seamless transactions, which is better than conventional methods of payments like debit & credit cards. When you adopt these new technologies that are seen as a component of an alternative financial system, it is bound to show the desired results, both in terms of payment acceptance and affordability. And, when businesses use such highly flexible payment gateways, it becomes easier for users to replace mainstream currencies or fiat money in the everyday trade of goods & services. Hope this blog post or article is able to make readers a bit more knowledgeable about the trending crypto-payment platforms.