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Knowledge Tutorials

Accept Cryptocurrency As Payment In WordPress Site In 2021

As a result, when a lot of people are building a website on WordPress the need of adapting to the modern changes becomes viable, and one of them is accepting payment in cryptocurrency.

The conception of accepting digital currency on your WordPress website as a payment method is something that is worth exploring as cryptocurrencies become more and more popular.

In this article, we explore why you might think about accepting cryptocurrency and its advantages and how Coinremitter can assist you to build up your existence in the crypto world.

Why You Should Accept Payment In Cryptocurrency?

When it comes to accepting cryptocurrency the first thing that comes to mind is, it will benefit my business or not.

But you should consider that cryptocurrency can provide something that is not simply available or possible with fiat money. 

Programmable money (cryptocurrency), for example, can allow actual-time data and a precise share of profit or transaction information and different currency options, while also enhancing transparency in helping to reconcile the business.

More companies find that important customers and dealers want to use cryptocurrencies.

A new way to improve a range of more traditional financial duties is opened by cryptocurrency.

To facilitate fast, real-time, and secure movement of money, help enhance control over the wealth of the firm and deal with possible risks and opportunities in connection with digital money.

Benefits of accepting cryptocurrency if you are using WordPress

Very Less Transaction Fee

The lack of central or governmental supervision significantly lowers transaction costs by saving money in the context of limited transaction taxes.

Credit card payments are commonly accepted by small companies for each card transaction with a charge of about 25 cents plus between 2 and 4 percent of the overall transaction.

These charges mount up and hence smaller shops typically impose minimum purchases of credit cards.

Cryptocurrency Increased Changes Of Sales

Acceptance of fiat payment by clients living in several nations leads to the accumulation of lot fees and consequently becomes an issue in running the business.

But because the decentralized structure of Crypto makes it possible for small companies, who were formerly unreachable to a wide range of customers.

Because of cryptocurrency it opens and spreads its doors to worldwide consumers.

And can eventually boost their business and save a lot of extra costs they might end up spending.

How Coinremitter Can Help You In Accepting Payment In Cryptocurrency?

Coinremitter is a well-known cryptocurrency payment processor which is helping a lot of businesses with their services in the crypto sphere.

Knowing that a lot of individuals, as well as businesses, are building their E-commerce site on WordPress, Coinremitter offers a free plugin for WordPress users.

Coinremitter payment gateway plugin for WordPress is very easy to integrate, and very easy to manage.

Coinremitter supports 8 major cryptocurrencies, Bitcoin to Ethereum including Binance, and many more.

Furthermore, it is also one of the finest payment gateways, offering its services at the lowest price.

Process Of Integrating Coinremitter Plugin In WordPress

  1. To integrate the Coinremitter plugin, you need to install WooCommerce into your WordPress Site.
  2. Once done you need to open the “Plugins” option and click on “Add New”, and then search for “Coinremitter”.
  3. You’ll see “Coinremitter Crypto Payment Gateway” click on install.
  4. After installing it you need to click on active, and the Coinremitter plugin is installed into your WordPress website.

You need to set up your account and wallet in the Coinremitter when you have finished installing the Coinremitter plugin, so you can accept cryptocurrencies.

Setup Your Coinremitter Account & Wallet

  1. Go to Coinremitter Website, if you already have an account then just log into it, or if you are new then just sign up for a new account.
  2. Once you log in to your account go to the wallet option and create a wallet for a specific currency which you are willing to accept as payment.
  3. After creating a wallet click on “Credential” where you’ll get your “API key” and “Password”.
  4. Now you need to set up a wallet on the Coinremitter plugin, so open the plugin in WordPress.
  5. Once you open the plugin you’ll need to click on “Add Wallet”.
  6. While creating the wallet make sure you create a specific wallet for cryptocurrency, so you don’t end up having issues in receiving payments.
  7. After creating a wallet you need to enter the API key and Password from Coinremitter.
  8. Once you fill in all required information click on verify. And it’s done, you have successfully set up the Coinremitter plugin now you can receive payment in cryptocurrency.

Final Remark

As you can see, if you operate your website on WordPress, there are several reasons why you should consider accepting payment in cryptocurrency.

Choosing Coinremitter as your crypto payment processor, will not make your work easy but also provide many more related services which indeed help your business grow in the crypto world.

And most importantly Coinremitter plugins are not just limited to one platform it also has plugins for open cart, magneto and more which make it more reliable.

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Crypto Cryptocurrency Knowledge

Best Cryptocurrency Payment Gateway Of 2021.

Cryptocurrency payment gateway have become one of the most significant things for online businesses as a result of the demand for accepting cryptocurrencies as payment.

The rise of cryptocurrencies has altered the way people conduct transactions, whether for goods or services.

What Is A Crypto Payment Processor?

If you are unfamiliar with this terminology, don’t worry, we will go through it, and if you are, you should be aware of how crucial a payment gateway is for any online business nowadays, as cryptocurrencies are getting more common.

A crypto payment gateway enables merchants to accept cryptocurrency as payments. Most payment processors now support the buying and selling of various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Binance, and others.

Payment processors allow businesses to accept payments and store them in crypto wallets, some payment processors also allow them to convert them to fiat currency.

They allow organizations to automate these payments while also providing a variety of additional tools and reports to make the entire process as straightforward as possible.

Crypto payment gateways ensure that transactions are processed quickly and securely.

Rather than concentrating on the difficulties of beginning to take cryptocurrency payments.

More and more businesses are being motivated by the growing crypto buzz and are trying to include a suitable crypto gateway.

How Cryptocurrency Payment Gateway Can Help & Work?

  • Modern & Efficient Technologies
  • Transparency In Transaction
  • Minimal Transaction Fees
  • Quick and Easy Transactions
  • Integration Of Plugins

Crypto payment processor function similarly to fiat currency payment gateways.

With the exception that payments are collected on crypto wallets. Crypto wallets can have only one or multi-currency option.

Overall, the crypto payment gateway’s function is to handle the essential information from merchants and users who are enabling crypto payments on the platform.

The crypto payment gateway’s operation is detailed below:

  1. When the user presses the Place Order button during the checkout process. The browser or app immediately encrypts the payment information and sends the crypto payment data to the merchant’s web server.
  2. Once the merchant has obtained the user’s crypto payment information, the merchant sends the information to the administrator.
  3. The information is then transferred to the payment processor by the admin or owner of the cryptocurrency payment gateway platform.
  4. The payment processor then receives the request and provides an acknowledgment code.
  5. That acknowledgment code contains all of the necessary transaction status information.
  6. Lastly, the website or app informs the user that the payment has been completed.

Which Payment Gateway Is Perfect In 2021?

When it comes to crypto payment processors, there are currently a plethora of payment gateway providers that provide their services.

With different fee structures, functionalities, and, most importantly, a wide selection of cryptocurrencies that can be accepted with the help of it.

So, let’s see which are the best payment gateway, providers.

Coinremitter

Coinremitter provides global cryptocurrency payment processor/gateway services. To online merchants who want to start accepting crypto coins as payment for their service or products.

And provides a high level of privacy, which many crypto users find appealing. With such a large user base, Coinremitter has the resources to provide better and new services to its users.

With payment gateway service they also give a digital wallet, invoice generating, and coin swapping services.

Most importantly coinremitter have their plugins & APIs that enable connections available on many platforms like WordPress, Laravel, Magneto 2, and more, which makes it easy for any new merchant to integrate payment gateway plugins and to start accepting crypto coins, and store them on a digital wallet.

Key Features

  • No KYC Required
  • All Major Cryptos (BTC, ETH, BNB, Dash, Doge, and more)
  • Transaction Fee 0.23%
  • Invoice Facilities
  • Coin Swap

Shopify Gateway

Shopify is one of the finest cryptocurrency payment channels in the world. In today’s crypto market, we have a high-quality and secure payment gateway.

Shopify has many features, such as APIs that enable connections with Coinbase and other payment gateways, making payment processing as simple and transparent as possible.

The major disadvantage of Shopify is that businesses must first register in order to create an account, and only then can they use the payment gateway.

Transaction costs vary based on the payment processor used by the retailer.

Key Features

  • Quickly & Easily Payment Process
  • No Requirement of PCI compliance
  • Cross Device Compatible

Coinbase

It is one of the largest and most popular cryptocurrency payment gateways in the United States.

Which has all of the latest security mechanisms, functions as both a cryptocurrency exchange and a cryptocurrency payment gateway. Its payment gateway is only available in a few places across the world.

It enables quick currency conversion from crypto to fiat money without the merchant having to request a withdrawal.

Key Features

  • No transaction fees
  • Integrated with API
  • Invoice Facilities

GoURL

GoURL works with all major cryptocurrency wallets. It offers accurate payment breakdowns, which makes order administration a snap.

it’s payment transaction will be completed in 30 seconds.

When compared to other sites, it does not provide direct bank transfers and costs hefty transaction fees. GoURL charges a 1.5 percent fee for all website payments.

Key Features

  • Crypto Wallet
  • Bonus On Registration
  • Affiliate Programs
  • No KYC Needed

Final Remark

The rise in demand for crypto processing indicates that companies want such services due to the numerous advantages of crypto processing over regular banking services.

There are several crypto payment gateways, however, I have highlighted the top ones for 2021.

Simply look through the list and select the best payment gateway for your transactions.

Furthermore, Coinremitter provides it’s consumers with greater service and more features than any other payment gateway provider.

Categories
Knowledge

Dropping dips: What Is Happening With Cryptocurrencies?

There are lots of ups and downs happening in the crypto world.

So let’s take a look at what might be causing it, whether you are an investor or not it will affect you directly or indirectly.

The huge drop in bitcoin and other cryptocurrencies comes as a swarm of negative news and events, ranging from Tesla CEO Elon Musk.

To a fresh new round of Chinese government laws, which have impacted an asset class that has been characterized by high volatility since its inception.

The main cryptocurrency plunged to more than three-month lows, dropping to under $34,000.

At one point for a drop of more than 30% and continuing a week of promotion within the crypto market.

Ether, the primary token for the Ethereum blockchain network, fell significantly.

And fell underneath $2,000 at one point, a decrease of higher than 40%.

Since September, the price of bitcoin has increased by more than 200 percent

The result of a strong bull movement fueled in part by hedge fund managers, banks, and other corporations acting to embrace cryptocurrencies.

Retreats by supported institutions.

Part of the reason for bitcoin’s weakness looks to be at least a momentary reversal inside the concept of broader cryptocurrency attraction.

Musk announced earlier this year that he was looking for more than $1 billion of it for his automaker’s balance sheet.

Several bill businesses announced that they were updating their capabilities for more crypto activities.

Major Wall Street banks began working on crypto purchasing and selling groups for their clientele.

However, Musk said recently that Tesla will no longer accept bitcoin as payment, citing environmental concerns.

Effect of regulation

Bitcoin and associated assets have also grown in importance in the global financial industry, attracting the attention of regulatory bodies all over the world.

China, which is creating its state-owned cryptocurrency, repeated its prohibitions on other cryptocurrencies, to prohibit financial firms from offering cryptocurrency trading services.

In the United States, Gary Gensler, the recently appointed head of the Securities and Exchange Commission

Stated earlier this month that regulators should be “technologically neutral,” but the US cryptocurrency industry needs stronger consumer protection.

The Market effect

The surge in popularity of Dogecoin (which started as a joke and then grew with Musk’s support)

May further damage overall trust in the cryptocurrency industry.

Rather than an increase in institutional interest, the bull market is associated with an increase in speculative day trading inequities.

There has been an upsurge in interest in other cryptocurrencies with bad reputations in recent weeks.

Barstool Sports founder Dave Portnoy claimed that he had acquired $40,000 worth of Safemoon cryptocurrency.

Which he regarded as a poor coin.

Conclusion

Although these changes may not take long,they will definitely bring numerous changes to the crypto market.

And related services,as well as providers such as Coinremitter,Coinbase,etc.

However, people also have the opportunity to invest in Bitcoin, because it has fallen so far.

And people can bear the risk of investment, but we cannot say how much Bitcoin will fall.

In general, the market tends to repeat itself. If it drops so much, it is likely to rise again, but we don’t know how.

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Tutorials

Auto-withdrawal function how to stop it in Coinremitter?

Coinremitter gives the auto-withdrawal function to all of its members.

The auto-withdrawal function works every 30 minutes automatically, and as you might know, it requires the external address to function.

This function saves your time, as it fuctions automatically.

In any case, you want to stop this function for certain coins. You need to have a premium membership of coinremitter. If you don’t then you cannot do it.

If you want to opt for the premium plan you can click here.

Stopping the automatic withdrawal function will not stop or affect any other function of the wallet except the withdrawal function

Note: Remember you still need an external address, even after stopping the auto-withdrawal function.

Follow the step below to stop the function.

Steps to Stop Auto-Withdrawal

  1. Login to your account
  2. Go to wallet Section
  3. In the wallet, you need to go to the general section
  4. There you will see withdrawal-type
  5. Select manual to stop auto-withdrawal

This is the procedure you need to follow to stop the function for all crypto wallets.

Note: You can not stop this function for USDT ERC20, ETH & BNB coin regardless of whether you are a premium member or not.

Final Remark

Auto-withdrawal means to provide better and efficient service to you. If you still want to stop the function you can do so.

I hope you found out how to stop the function in the Coinremitter wallet.

Categories
Tutorials

Listing Announcement! Now Accept-Send Binance Smart Chain and Binance Pegged USDT.

Coinremitter, we are pleased to announce that we will soon fully support the Binance Smart Chain & Binance Pegged USDT.

On Crypto wallet & payment gateway services, available to merchants and wallet users on our platform.

Which will add an advantage for anyone on our platform that can boost profits due to the lower fees.

Binance Smart Chain

This Coin is a blockchain project which was initiated by Binance.

We want to ensure the creation of a blockchain that will serve as an alternative marketplace for issuing, using, and exchanging digital assets in a decentralized manner.

Binance Pegged USDT

Binance-Peg tokens are BEP20 tokens that are backed by tokens vaults in Binance public addresses and are part of a new initiative known as Project Token Canal.

A pegged token by Binance gives you the joint benefits of open blockchain technology and traditional currency by converting your cash into a stable digital currency equivalent.

Soon all users can start depositing Binance Smart Chain, and Binance Pegged USDT in their Coinremitter Wallets.

And respective merchants across the globe as well as can start accepting payment.

You can also see the official announcement on the Twitter account.

Categories
Tutorials

What is the external address in coinremitter and where to get it from?

coinremitter provides the auto-withdrawal feature for every wallet. So it requires your external address to withdraw funds automatically from your wallet. 

However, you can stop the auto-withdrawal feature in some coins but an external address is required in every coin wallet.

Every digital wallet has its unique address and it differs from cryptocurrency to cryptocurrencies

But when it comes to an external address in coinremitter it simply means all the addresses which must not belong to coinremitter wallet address but the address of other wallets from different digital wallet platforms, like blockchain.com, coinbase.com, etc.

First, let’s see what can be considered as the external address.

For example, you have an account in coinremitter and also in third-party sites like exchanges or wallet provider.

The coin address of the third party will be considered as an external address in the coinremitter.

You might have a question about what it is used for and how it is going to help you.

As you might know that coinremitter is just not a digital wallet platform but also provides you a gateway facility.

So, having an external address in your coinremitter wallet will you get money (coins) to that address through your coinremitter wallet address when you enable the auto-withdrawal feature.

You can not set a litecoin address as an external address in a bitcoin wallet. you need to set an external address while creating a new wallet which you can edit later.

Steps to add external address.

  • Login to your account
  • Click new in wallet section
  • Create the particular coin wallet you want.
  • While creating a wallet you need to fill all required fields.
  • There you will see the External Address section.
  • Add the address over there & click create new wallet.

Note: Make sure you add the correct address in your wallet because once the fund is transferred then the coinremitter is not responsible for any issue related to that.

Final remark

This blog was to answer the question of what is it, what it is used for and how can you save it on your wallet. To receive payment on that address through coinremitter wallet address.

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Tutorials

Every address on coinremitter has its expiry.

Address, If you’re using coinremitter to receive payment or to send payment to coinremitter wallet then you might know what it means, and what it is used for.

This is really important news for you and everyone who is using coinremitter.

So, make sure you go through it thoroughly and understand it for your betterment.

If you are using coinremitter then you must know about how to use and install its plugins. If you are new to this concept then refer to our blog page to understand it perfectly.

To receive or send crypto coin you need a unique code to do that, which can be created through the rest API. Coinremitter has set its limit about 6 months and after that will automatically expire.

When you create a new address using API, It has an expiry date. We hope you understand the reason behind that.

To Check address expiry date of address, Follows the simple procedure.

  • Login to your account (In our plugin).
  • In the wallet detail, you can see the address tab where every address has its expiry date.

To create new address follows the simple procedure.

  • Send a request for a new address from the plugin (need to do API call).
  • In the response part, you’ll receive a new address and a new barcode of your wallet. Plus it has an expiry date.

Note: If your address has reached the expiry date then make sure to create a new one, if you fail to do that then you might have to bear the loss. Example “Someone sends the crypto coin to expired address then that you won’t receive it and at the same time even you won’t get it back.” It will be considered null and void.

So, kindly create a new one from time to time. To avoid any back clash.

Categories
Knowledge

Best Bitcoin Payment Gateway to Consider in 2021

Wondering about which is the best Bitcoin payment gateway to go with?

If you are then, you have just discovered the right place.

Coming straight to the point.

The pricing of Bitcoin began to increase at the end of 2020. The bitcoin price has reached an all-time peak of nearly $20,000 in three years since the last soared cryptocurrency to that level.

You can estimate how using Bitcoin is profitable to your business because millions of people use it for their day to day transactions.

Integrating a Bitcoin payment gateway for businesses will draw more clients who prefer safe payments.

This is a way of reducing the processing rates for credit card fees that are mandatory.

You’ll quickly find yourself on track to optimize your business potential if you plan to go ahead and implement Bitcoin into your website.

To achieve that, you need to have a good Bitcoin payment gateway integrated on your site.

Let’s get to understand everything about the Bitcoin payment processor, how it can benefit your business, why merchants should consider and give it a top priority, and more.

What is Bitcoin Payment Gateway?

A Bitcoin Payment Gateway is a kind of portal of online transactions that enables Bitcoins to receive payments from several businesses.

For instance, consider the crypto payment gateway Coinremitter, you can integrate it on your website and begin to receive your payments in the coins you want.

It will allow the instant conversion to the fiat currency of bitcoin and other altcoins.

Moreover, it will also allow merchants to automate these payments and provide a host of other resources and reports to make it as easy as possible for the entire transaction.

NOW, let’s look at some advantages of accepting bitcoin payments on your website.

Benefits of Accepting Bitcoin Payments:

1. Untraceable:

If we talk about Bitcoin then its transactions are highly confidential. 

The anonymous Bitcoin address can change with each transaction which is generated every time when the user makes any purchase.

Bitcoin transactions are entirely anonymous or fully untraceable, but they are much less easily connected to personal identification than other conventional forms of payment.

2. One Way Transaction:

In the case of the Credit/Debit card, when you make a payment you get a message that your money has been reversed.

Since credit/debit transfers are reversible and your information is not secured. There is also a chance of your money being dragged out of your account.

However, making a transaction with Bitcoin, the amount goes straight to the other person’s wallet. Since there are no chargebacks, your payment will be completely safe.

3. Lowest Fee:

If we compare the fees of credit/debit cards and bitcoin then the per-transaction fee of Bitcoin is significantly lower than the card method.

Small merchants are the ones who can get the benefit of this by receiving their payments in Bitcoin.

Coinremitter for example offering the lowest transaction fee which is 0.23%.

4. International Payments:

Due to costly cross-border transaction fees, small online retailers and independent consultants frequently don’t market their products and services globally. 

Bitcoin reduces the high cost of going global, making it simpler, quicker, and cheaper to make cross-border payments.

5. Maximum Protection Level:

Since individuals can pay companies Bitcoin without sharing personal details like names, billing addresses, etc. They enjoy a degree of security against identity fraud that credit cards simply can not give.

With Bitcoin, this type of value has no personal identity attached to it. It’s a lot like digital currency, and it can’t be tracked in any way, and it can’t expose the identity.

Why Should Merchants Start Accepting Bitcoin Payments?

The advantages of using Bitcoin as a payment alternative are countless. Some of the reasons are listed below.

  • A new payment mode will be a huge plus point for customers who prefer cryptocurrencies.
  • For your current customers, it will make a new way of paying.
  • Payments are safe and permanently retained on the blockchain ledger.
  • It is secure and clients will have total control of their transactions.
  • No involvement of third-party.
  • The transaction fees are considerably low if compared to debit and credit cards.
  • Protected by a genuine electronic signature.

Bitcoin Payment API

By integrating Bitcoin API, you can accept Bitcoin payments hassle-free on your website.

Now, what this Bitcoin API does is that it links with your company’s checkout system to a payment acquiring network, allowing your clients to make transactions from you.

Nevertheless, you can also use the same payment infrastructure in order to make payments on your mobile app.

You will make more informed decisions when you have access to real-time buying data.

Once you started accepting Bitcoin on the website it will enable your business to capitalize on the trends and will cater to current and future consumers. It will also set the presence of your company apart from the competition.

How to Implement a Bitcoin Payment Gateway On Your Website?

Here we are going to show you the implementation process of the Bitcoin payment gateway which is much simpler and quicker with Coinremitter.

But before we head to the integration part let’s first clear out what is Coinremitter?

Coinremitter is a merchant friendly bitcoin payment gateway allows merchants to accept their day to day payments in Bitcoin.

Not only that but you can also list out several other coins too such as Ethereum, DASH, Litecoin, and more.

Moreover, coinremitter offers some great features like no KYC requires, multi-wallet support, currency swap, create an invoice, and most significant is the low transaction fees of 0.23%.

Coinremitter is the one who offers the lowest transaction fees among other gateways.

NOW Integrate Bitcoin Payment Gateway on your store in just three steps:

1. Create Bitcoin Wallet:

To create a Bitcoin wallet, the first thing you need is your coinremitter account. Fill out the details in the Sign-up form.

After login, create a Bitcoin wallet by filling up the details like wallet name, password, etc. Your Bitcoin wallet will be created right after that.

2. Get API Key & Password:

After successfully creating a wallet, you’ll need to have an API key and password in order to start accepting bitcoin payments on your site.

You’ll get the API key on the wallet page by clicking on the bitcoin wallet. Consider this API Guide for better understanding.

3. Bitcoin Payment Gateway Installation:

Now it is time to install the Coinremitter on your platform.

There is a different integration process for every platform like coinremitter offers prominent platforms like Magento, WordPress, Prestashop, etc.

Check this guide and integrate it according to your platform.

Last Words:


You must have got the idea of how integrating a bitcoin payment gateway is useful to businesses.

To make it more effective, you need to catch the attention of your customers to tell them that you are accepting Bitcoin payments. 

Add the button “Bitcoin accepted here” or put a symbol of whichever currency you are accepting for your transactions.

Categories
Cryptocurrency Knowledge

What is Stablecoin? Know Every Bit of Information In-depth

Giving a straight answer to the question of what is Stablecoin is that it is a kind of cryptocurrency with low price volatility.

Unlike the other cryptocurrencies such as Bitcoin and Litecoin, which are extremely volatile in nature due to their price spikes and collapses.

However, Stablecoins are resistant to price fluctuations. They can use as value stores or account units, also in other situations where volatile cryptocurrencies may be less attractive.

Stablecoin is a modern cryptocurrency segment that seeks to be the antithesis of bitcoin-like cryptocurrencies.

By acquiring a reserve commodity like the US dollar, gold, or some other international currency, Stablecoin aims to maintain market STABILITY.

Moreover, Stablecoins thus provide regular currency stability and the privacy and protection of cryptocurrency transactions.

Ultimately, this helps central banks to enable the use of cryptocurrencies and regulate them more comfortably.

To understand the use of Stablecoin, why it is so popular, and what are its limitations, we have to dive deeper into the pool of Stablecoin.

SO let’s get straight to the points.

What is Stablecoin?

As we explained above, Stablecoin is a type of cryptocurrency that is supported by fiat currencies like USD, Rupees, Euro, etc.

Stablecoins is a bridge between the advantages of cryptocurrencies and the steady nature given by fiat currencies.

It is also known as a crypto token because the value is linked to the price of the national currency to overcome its volatility.

If we talk about the market condition then the popular currency Bitcoin and Ether are highly volatile. It is not suitable for users and investors due to its unsustainability.

Stablecoins have now emerged as a new tool for driving the modern way of accepting cryptocurrencies.

Moreover, the use of fiat-backed currency has an advantage over the use of fiat currency.

Because the decentralized currencies do not require a certain authority to put trust in the system and therefore it reduces the additional costs.

Not only that but, cross-border payments can be made quickly with cryptocurrencies.

Supporting crypto tokens will add more value and create more trust between investors and users with secure fiat currency or properties.

Why Stablecoins are Popular and Most Chosen Over Other Cryptocurrencies?

When talking about Stablecoins then we can not forget the name Tether. After Bitcoin, it is one of the most traded cryptocurrencies.

Now the reason why people choose Stablecoin is that it is backed by fiat currencies.

If investors think that their Stablecoins are worth one dollar each, the price should represent that because the coin prices are influenced by the belief.

It’s always difficult for investors to cash out their cryptocurrencies quickly when things get rough. To do so they can have to transfer via multiple exchanges or even wait for a few days.

Now, this is the time where Stablecoins comes into the picture. After all, Stablecoins are cryptocurrencies, they stay up on the exchanges.

Nevertheless, since they remain true to the value of a single fiat currency, they serve as a sort of temporary refuge for investors in the bear market who are looking to protect their funds.

So the Stablecoins are similar to blockchain-enabled variants of the dollar in this way.

What are Stablecoins Used For?

The main use of Stablecoins is to store value and as a means of TRDAE.

Moreover, they give traders temporary relief from uncertainty when the market is crashing.

And this will use for things like yield-farming, lending, and liquidity provision in the increasing field of decentralized finance (DeFi).

By buying them from exchange platforms, most traders and investors gain Stablecoin exposure.

However, by depositing the necessary collateral with the issuing firm, such as US dollars with Tether or physical gold with CACHE gold, it is also always possible to mint fresh Stablecoin.

What are Some of The Stablecoin Examples?

Popular Stablecoins include Tether (USDT), True USD (TUSD), Gemini Dollar (GUSD), DAI, and more.

There are mainly four types of Stablecoin:

  1. Fiat-backed Stablecoins
  2. Cryptocurrency-backed Stablecoins
  3. Algorithmic Stablecoins
  4. Commodity-collateralized Stablecoins
1. Fiat-backed Stablecoins:

Crypto tokens associated with the value of a particular fiat currency are known as Fiat-backed Stablecoins. These tokens keep their value set at a ratio of 1:1.

Let’s take the Tether example, which is parallel to the US dollar at 1:1. 

To guarantee the life of a fiat-backed Stablecoin, Fiat currency is deposited as collateral.

As a consequence, to determine that the token still stays collateralized, it requires a financial custodian and time to time auditing.

2. Cryptocurrency-backed Stablecoins:

These Cryptocurrency-backed Stablecoins work exactly the same as a fiat-backed Stablecoin. 

However, instead of using fiat money, it locks up the cryptocurrency as collateral. For example, in order to build a crypto-currency-backed Stablecoin, Ethereum can be held as collateral.

Such tokens use a security guarantee to compensate for cryptocurrency uncertainty to use as collateral.

It asserts that Stablecoin will not be based on the crypto collateral’s 1:1 ratio.

3. Algorithmic Stablecoins:

When it comes to algorithmic Stablecoins then there is no fiat or cryptocurrency support for algorithmic Stablecoins.

Instead, algorithms and smart contracts that control the supply of the released tokens accomplish their peg entirely.

As the price falls below the price of the fiat currency it tracks, then an algorithmic Stablecoin system will decrease the token supply.

And if the price exceeds the value of the fiat currency, then the new tokens enter into circulation to reduce the value of the Stablecoin.

4. Commodity-collateralized Stablecoins:

Now, these commodity-collateralized Stablecoins are backed by stable assets, like valuable metals, real estate, gold.

Theoretically, this tells investors that these Stablecoins can appreciate their value at the same time as their underlying assets rise in value, thereby offering an increased incentive to retain and use these coins.

Anyone can invest in real estate assets or precious metals around the globe using commodity-collateralized Stablecoins.

Stablecoin Advantages and Limitations:

First, the advantage of Stablecoins is its ability to provide a means of exchange that complements cryptocurrencies.

Cryptocurrencies have been unable to gain widespread adoption in daily applications such as payment processing because of high levels of uncertainty.

These stabilized currencies have overcome this ongoing problem by offering higher levels of predictability and stability.

Furthermore, we now know how useful Stablecoins are in financial transactions, so traders and investors can take advantage to protect their investments.

It is an efficient means of reducing overall risk. At the same time, a successful tactic would be to maintain a store of value to purchase other cryptocurrencies as prices decrease.

Yet, Stablecoins have some limitations too. Like the regulations of fiat currencies, which undermine the efficiency of their conversion, restrict Fiat-backed Stablecoins.

If the economy collapses, then the fiat-backed Stablecoins will also crash, since they are so closely related.

Moreover, Stablecoins backed by commodities are less liquid, which means they are harder to redeem.

What is The Future of Stablecoins?

Stablecoins have been on the demand now. In view of the current situation, the volume of Stablecoin will certainly commence the peak in the upcoming months.

Also, there is a clear belief that sooner or later cryptocurrencies will become mainstream due to the support of Stablecoins.

Stablecoins have immense growth because individuals and companies are looking for quicker, simpler, and cheaper ways of sending payments globally.

Last Words

As we talked above its benefits and some disadvantages, Stablecoins will remain an essential element for the cryptocurrency industry.

These digital currencies can be stable at fixed prices through a range of mechanisms. It is apparent that Stablecoin applications extend well beyond trading.

So what are your thoughts about the Stablecoins, Will it survive or not in the coming times?

Do let us know in the comments!

Categories
Cryptocurrency Knowledge

What is Ethereum 2.0?: All You Need To Know About

Ethereum is familiar to all of us, but now the bigger update “Ethereum 2.0” is on its way to launch on December 1, which will ultimately improve scalability, security, and sustainability.

Also, various teams of the Ethereum ecosystem are building these upgrades.

The long-planned Ethereum network update is on the horizon to address problems with the scalability and security of the network.

Ethereum 2.0 will come out in several “phases.” Each phase will boost Ethereum’s functionality and performance in numerous ways.

The beacon chain genesis of Ethereum 2.0 is now planned to take place on the earliest feasible launch date of December 1.

Let’s go deeper to understand Ethereum 2.0 and what significant improvements are coming out of it.

The Use of Ethereum

Ethereum is accessible to everyone. There is no involvement of the government or corporation in Ethereum.

Also, it is almost impossible for someone on Ethereum to prohibit you from collecting payments or using services.

Ethereum provides you convenient access to financial services and an internet connection is all you need to access its lending, investing, and savings services.

Moreover, to use an Ethereum application, your personal details are not required.

Without going through intermediary firms, you can also make deals and directly transfer cash to someone else with Ethereum.

All the time better apps and experiences are being developed because Ethereum products are by default compatible.

Moreover, customers have a secure, built-in assurance that if you provide what has been negotiated, funds will only change hands.

What is Ethereum 2.0?

By market cap, Ethereum is the second-largest cryptocurrency. The team of Ethereum is now planning to give a major update to its network. It is going to roll out on Dec 1, 2020.

Moreover, Ethereum 2.0 can also be understood by Eth2 or “Serenity”. The coming upgrade of Ethereum 2.0 will be more scalable, fast, and safe by introducing new proof of stake (PoS) protocol, virtual machines (VM), sharding, and more.

What is New in Ethereum 2.0?

This is the upgraded version of Ethereum 1.0 so there are some changes and improvements in it.

This new upgrade “Ethereum 2.0” offers two major improvements such as Proof of stake and Shard Chains.

Proof of Stake:

Presently, the Ethereum blockchain works on the proof of work consensus protocol.

The current consensus relies on solving complex math problems via huge computing power.

Moreover, this uses a lot of energy on the blockchain to check transactions.

On the other hand, Proof of Stake (PoS) depends on ether validators and deposits, saving a significant amount of energy consumption.

Shared Chains:

Each blockchain node must save the entire copy of the distributed ledger, making the process of verification slower.

What shard chains do is that a transaction is broken down into shards (small bits of transactions) and distributed to the network.

Each node can operate side-by-side on verifying transactions, reducing the time taken overall.

EVM to eWASM:

Smart Contracts are pieces of code that run automatically when a specific event occurs.

Also, they are the Ethereum blockchain’s USP and are the network’s real foundations.

In Ethereum 1.0, on the Ethereum Virtual Machine (EVM), these smart contracts were executed.

The EVM is an environment that allows for the execution of the actual code of smart contracts and dApps, the storage of the database, and the documentation of transactions.

Furthermore, Ethereum 2.0 supports the use of the Ethereum Web Assembly or eWASM. The language of the web assembly allows the code to be executed anywhere in the web browser.

When it comes to strengthening security, eWASM is better than EVM. For writing code for smart contracts and dApps, it supports various conventional programming languages such as C, C++, and Rust.

Utter Security:

With security in mind, Ethereum 2.0 has been invented. There are a limited number of validators in most proof of stake networks, which allows for a more centralized system and reduced network security.

At minimum 16,384 validators are needed for Ethereum 2.0, making it much more decentralized and thus, stable.

For Ethereum 2.0, the Foundation is setting up a dedicated security team to study potential cryptocurrency cybersecurity issues.

The Phases of Ethereum 2.0 (Roadmap)

This Eth2 update will be released in phases in order to ease the transition for Ethereum users to the new platform. The date has come out of the Phase 0 launch on Dec 1.

There will be a total of four phases:

=> Phases 0, 1, 1.5 and 2.

Let’s commence by looking at the Ethereum 2.0 Roadmap.

Phase 0:

On December 1, Phase 0 of Eth2’s beacon chain will take place. Proof of Stake (POS) will be enforced by the beacon chain and the validator list will be monitored, which will begin to confirm the existence of blocks on eth2.

On November 4, the conversion of 524,288 Ethereum from 16,384 validators into the Ethereum 2.0 deposit contract was carried out.

However, the people who have participated in genesis will not withdraw their coins until Ethereum 2.0 hits Phase 1.5.

The actual Ethereum PoW blockchain will persist to operate as the beacon chain goes live and Proof of Stake is integrated.

Phase 1:

The launch of Phase 1 is scheduled to take place somewhere in 2021.

Implementation of shard chains is the primary creation of Phase 1. The information on shard chains is mentioned above.

Moreover, sharding would result in the Ethereum blockchain being split into 64 different chains (called shard chains) for Ethereum 2.0, which run parallel to each other and seamlessly interoperate.

Phase 1.5:

Phase 1.5 will be the temporary update in 2021. The Ethereum main net will officially become a shard and turn to the proof of stake.

Phase 2:

And in late 2021 or maybe in 2022, the final phase will roll out. As of now, not much has been determined about this phase.

Phase 2 according to sources, will include adding accounts, allowing transfers and withdrawals, developing development environments to create DApp on top of Ethereum 2.0, and having people use the updated blockchain.

And Ethereum 1.0 (based on PoW) will be fully gone by then.

The Bottom Line

In the blockchain ecosystem, Ethereum 2.0 has been long-anticipated and much debated.

Scalability, protection, and accessibility will be dramatically improved by proof of stake and sharding.

Ethereum 2.0 presents a new way for ETH holders to participate and gain rewards for sustaining the network.

Categories
Knowledge Tutorials

What is Token Burning: Understand Everything

Token burning is not something that you can burn with fire. We will come to soon what is token burning and many other things that you need to know.

The primary goal of token burning is to increase the effectiveness of the other tokens in Distribution.

Many cryptocurrencies have a small total number that can survive, and thus, knowing the need for the token is the same.

If there are few in distribution, the value can possibly increase.

Moreover, token burning has been embraced by several crypto-currency ventures to limit the availability of their tokens.

Let’s address the token burning more in-depth.

What is Token Burning?

Token burning implies the continuing removal of existing cryptocurrency coins from distribution. 

There are particularly two ways to burn tokens.

Either by buying the existing tokens from the market or by taking the current currency out of circulation.

To store tokens, the place would be anywhere, like in a team wallet, or also it could be tokens that are not allocated.

Some of the firms burn tokens as a one-off event, while others maintain quarterly burns, such as Binance and OKEx.

How and why companies burn tokens depends heavily on what they are planning to achieve.

As standard fiat currencies are not typically burned, the burning process is distinct to the cryptocurrency, although the flow of available currency is otherwise regulated.

Token burning is analogous to the notion of publicly held corporate share buybacks that decrease the amount of available stock.

NOW let’s delve into how the method of token burning works.

Token Burning Process

Token burning can take place in a variety of ways.

The aim is to decrease the current number of available tokens. It does not literally kill burning tokens but makes them difficult to use in the future.

The token burning process the redemption or withdrawal by the project developers of the available currency, and then its removal from circulation.

Moreover, a special public wallet known as the eater address is put with token signatures, that available to all nodes but permanently blocked.

However there are several ways to burn tokens, and this depends on the intent of the operation.

After the end of the initial coin offer, others will use a one-off burn to delete unsold tokens from circulation. Others opt to burn coins periodically at static or variable cycles.

Binance, for example, as part of the pledge to hit 100 million burned BNB tokens, it burns tokens per quarter.

The number of tokens differs from the number of purchases per quarter carried out on the network.

if we speak about the stablecoin like Tether, as they deposit funds into their reserves and burn the equivalent amount as funds are extracted or withdrawn, it will generate tokens.

Why are Businesses Burning Tokens?

There are multiple reasons that an organization would want to burn tokens, and for token holders, all of them have value. 

The most prevalent explanation is to increase the value of each token by reducing the current supply.

Theoretically, fewer coins are available for sale and transactions mean that each particular token is more valuable. Indeed, this is why most cryptocurrencies are either in circulation or in future supply for a finite sum.

Projects will increase the value of the current supply of each token holder and establish rewards for ongoing support by taking controls over the figurative faucet.

Token burns may be the result of an error correction in certain situations.

Moreover, about security tokens, which allow holders to a project’s dividends, token burning operates just like corporate buyback of stock.

Coins can be bought back at good prices and then burned immediately to maximize the value of the current token quantity of each holder.

And at last, some projects use token burns to prevent spammed transactions. And to add a layer of protection, some projects use token burns.

Are There Any Advantages of Buring Tokens?

It may seem like token burns are intended to offer an advantage to ventures, but the fact is that both developers and investors profit from the process.

Burning tokens can help stabilize the value of a coin in certain cases and prevent future price inflation.

Stability offers a greater incentive for investors to retain the coins and holds values at more desirable rates, thus keeping network uptime and bandwidth safe.

Token burns also project a sense of trust and reliability, particularly at the early stages of the coin production.

Moreover, like halving, burning tokens limits availability. The price would automatically go up if the demand remains the same or rises.

However, If demand goes down, then burning won’t have much impact.

When it comes to Ripple, token burning enhances consumer protection and helps them to speed up their transactions safely without improper incentives.

The reason is that there is no incentive to charge higher except for quicker execution to charge higher rates, consumers can believe that the network will be used more wisely.

Final Thoughts

Token burning is offering to be an efficient way to preserve a stable crypto-ecosystem. 

Future cryptocurrencies will absolutely utilize this mechanism with time by giving its numerous perks, particularly in a coin’s infancy stage.

Categories
Knowledge

What is Facebook Libra Cryptocurrency? What You Need To Know

The majority of people TODAY knows about Facebook’s Libra because Facebook has shared almost everything of its Libra cryptocurrency.

Due to the COVID19 pandemic, Libra will most probably to roll out somewhere in 2021. Yet, there is no update for its launch from Facebook.

This Facebook Libra will enable billions of users to make financial transactions online across the globe.

Not only that but with Facebook’s Libra, people will able to purchase their stuff at local grocery stores or transfer money to others with almost zero fees.

On top of that, Libra lets people spend it via fully integrated third-party wallet apps or Facebook’s own Calibra Wallet that will be incorporated into Facebook Messenger, Whatsapp, and more.

There are a lot of things that you need to know about Libra. SO here we are to give you thorough information.

Let’s dive deep into the pool of Libra. 

What is Facebook Libra?

Libra is the approved payment system built on the blockchain (the same technology used by bitcoin and other cryptocurrencies) which is developed by the social media company Facebook.

The aim of the organization is to create a simple global currency to provide financial inclusion for the billions of adults who do not have access to a bank account.

Moreover, Facebook Libra cryptocurrency can give you the opportunity to exchange for Libra in local currency and vice versa via wallet apps, including third-party apps, Calibra wallet from Facebook, and local resellers such as grocery stores.

Libra is being developed on an open-source blockchain, and a non-profit organization in Switzerland is leading its growth.

One of the most asked questions is that Libra is a cryptocurrency or not?

The answer is yet in between yes and no.

The blockchain of Libra is not decentralized the way Bitcoin is. Anyone can potentially run a node with the Bitcoin blockchain, regardless of how expensive it is.

Also, Libra’s nodes can only operate from the Libra Association’s members’ servers.

The official explanation for this make-up on Facebook is that Libra aspires to be a completely decentralized model that would not be strong or quick enough to provide the “global financial infrastructure.”

How Does Facebook’s Libra Work?

NOW you are already acquainted with the fundamentals of Libra, it is time to understand more in deep.

In order to bring trust among users, Facebook formed a management team, known as the Libra Association.

SO what exactly the Libra association?

Facebook thought people would not trust the project, so it hired the association’s founding members to manage token production and real-world asset reserves.

A minimum $10 million has been spent by each Libra Association member to connect the network and become validator node.

Moreover, Members of the Libra association have also received one vote and are entitled to a share of the dividends from the Libra reserve’s earned interest, where users pay in fiat currency to get Libra.

There are 28 companies that have been associated with Libra. Below we have listed these companies by its category.

  1. Blockchain:

Coinbase, anchorage, Xapo Holdings Limited, Bison Trails.

  1. Payment Gateways: 


Mastercard, Paypal, Visa, and Stripe.

  1. Venture Capital: 

Thrive Capital, Breakthrough Initiatives, Ribbit Capital, Andreessen Horowitz, and Union Square Ventures.

  1. Marketplaces/Tech: 

Booking Holdings, eBay, Farfetch, Lyft, Facebook/Calibra, Mercado Pago, Uber Technologies, Inc., and Spotify AB.

  1. Nonprofit/multilateral organizations/academic institutions: 

Women’s World Banking, Kiva, Mercy Corps, and Creative Destruction Lab.

Before officially releasing the Libra Coin, Facebook expects to hit 100 founding members.

It is open to anyone who meets the criteria, including competitors such as Twitter and Google.

Facebook Libra Blockchain:

The Libra Blockchain will act as a solid financial services base. 

And the team Libra agreed to come up with a new blockchain platform on the basis of three criteria, based on the process of analyzing existing blockchain platforms:

  1. Highly protected in order to guarantee that the financial data and the funds are safe.
  1. Ability to scale to billions of accounts requiring low latency, storage system with high capacity, and high throughput of transactions.
  1. Flexibility to power regulation of the Libra ecosystem and future financial services innovation.

What features we can expect from the Libra Blockchain?

  1. Libra utilizes a byzantine-fault-tolerant (BFT) consensus approach.
  2. Also, it can emphasize universally accepted blockchain data structures.
  3. For implementing custom transaction logic, it uses Move Programming Language.

As a pseudonym, Libra Blockchain enables users to have one or more addresses that are not associated with their identity in the real world.

How Distinct is Libra From Other Cryptocurrencies?

Like other cryptocurrencies, Libra transactions are recorded on a software ledger that checks every transfer, known as the blockchain.

The Libra blockchain will be run by founding members in initial stages but later evolve in the future to a fully open system.

However, there are similarities too like Libra is somehow similar to other cryptocurrencies.

Such as bitcoin and Ethereum, Libra exists entirely in the digital platform. You won’t be able to get a note, or a coin, for a Libra.

Libra would be connected to real money, a format generally known as a ‘stablecoin,’ unlike bitcoin, Ethereum, and some other cryptocurrencies, which are not backed by anything and swing wildly in response to the speculation.

Does Libra Need to be Centralized?

If the Libra would become centralized then it will make the system less prone to hacks or shutdowns but takes time.

For instance, the Bitcoin blockchain can only process about seven payments every second.

If we compare it with the Visa payment network then it currently supports up to 24k payments each second. So for the initial stages, we can estimate that Libra should be able to handle around 1,000 transactions every second.

It has been projected by the white paper that over the next five years, Libra will change from a “permissioned” blockchain to a completely decentralized or “permissionless” blockchain from the current proposed model. However, there is no certainty about that.

How to Buy and Where to Store Libra?

Unfortunately, Facebook’s Libra coin is currently not available to purchase as it’s under development.

When it releases, new coins will only be created when users buy them through apps like Messenger or WhatsApp.

Libra is a kind of stable coin, which implies that its value would be fixed to a fiat currency like the US dollar.

Each time new Libra is generated, the money of the consumer will be kept in reserve to protect its value.

Moreover, there is a wallet to store Facebook Libra which known as Calibra. The company said that sending libra is as easy as that sending a text message from one to another.

Over time, the cryptocurrency is supposed to be used to pay taxes, purchasing daily groceries, and can be the substitute for bus and train passes.

Facebook said that they are highly concerned about privacy. Calibra will be kept separate from its social network, which ensures that the buying preferences of a consumer will not be used to generate targeted ads.

Categories
Cryptocurrency Knowledge

Yield Farming in DeFi: Everything You Need to Know

Yield Farming currently becomes a hot topic in the crypto world. Those who have a good understanding of Defi are possibly also acquainted with the Yield farming.

To simply understand, yield Farming is the method of efficient use of crypto tokens in a decentralized finance (DeFi) market in order to gain interest.

It is one of DeFi’s popular solutions that enable investors to get an interest in lending their tokens out.

With yield farming, one can generate passive income with that. One thing to note that, yield farming occurs on the Ethereum blockchain.

Let’s drive straight on the aspects of the Yield Farming.

What is Yield Farming?

The idea of yield farming has emerged from the decentralized finance division.

Understand Yield farming with the example of a bank. There is a purpose of gaining interest when you deposit your money to the bank.

The same goes for Yield farming, you can staking or locking up the cryptocurrencies in order to get a reward in return.

The basic concept is that people can earn a significant amount of tokens and in return for their involvement in DeFi applications.

Moreover, yield farming is also similar to liquidity mining. On top of that, yield farming can be correlated with staking.

In the background, though, there’s a lot of uncertainty going on. In some ways, it deals with users called liquidity providers (LP) who add funds to liquidity pools.

Now you may have wondered what the liquidity pool is?

SO basically the liquidity pool is a smart contract that contains funds.

LPs get a reward in return for adding liquidity to the pool. This reward may come from fees that the underlying DeFi network, or some other source.

Yield farming is normally done on Ethereum using ERC-20 tokens, and the rewards that genrated are also a form of an ERC-20 token.

Why Yield Farming is Currently The Hot Topic?

There are several reasons for this, such as in the midst of the Covid-19 pandemic, that all cryptocurrencies are generally seen in the long term as a non-correlated asset. 

In addition, it has also seen an increase in interest in many traditional assets in the light of high volatility.

Moreover, The launch of the COMP token, the governance token of the Compound Finance ecosystem can be attributed to a sudden strong interest in yield farming.

Tokens of governance give privileges of governance to token holders. But if you want to keep the network as decentralized as possible, how do you distribute those tokens?

There is a way with a decentralized blockchain is distributing these governance tokens algorithmically, with liquidity rewards.

SO, this draws providers of liquidity to plant the new token by supplying the liquidity to the protocol.

The Types of Yield Farming

There are basically several ways in which users can begin farming new protocol tokens.

It all started with the token Compound when the users can easily convert their USDT to USD and then place it on Balancer to help the Automatic Market Maker for traders.

Moreover, protocols have been innovating new ways to optimize the yield for their users. 

Currently, you are part of a major experiment that AIMED at eliminating intermediaries from financial transactions.

Token Farming

There are specific protocols that incentivize liquidity providers with fees, also some add the new flavor to the equation by adding a giveaway of protocol tokens as well.

Users can get a chance to earn NATIVE tokens from yEarn and Compound protocols but after giving liquidity to the pools.

The reward rate appears to be greater when the pool has less quantity, and hence draws more and more “farmers.”

Moreover, to start farming the protocol’s tokens, users need to add a collection of tokens to pools on Uniswap and then stake the Uniswap tokens on the network.

Each protocol using a different approach to reward its users. Many have different use cases for their tokens for the network as well.

How To Calculate Yield Farming returns?

The returns on yield farming calculated annually. It forecasts the returns that you might expect over the course of a year.

Annual Percentage Yield (APY) and Annual Percentage Rate (APR) these two are common matrics. 

The distinction between them is that the IMPACT of compounding is not taken into consideration by APR, whereas the APY does.

If we talk about compounding, it means reinvesting profits directly to produce more returns. It is advisable, although, to be aware of APR and APY because they can be used interchangeably.

One thing to note is that these are only estimations and predictions. Short-term rewards are pretty tough to figure out accurately.

Why is this difference? because the market of yield farming is fast-paced and it is highly competitive as well. On top of that, the rewards also can fluctuate quickly.

Suppose that the strategy of yield farming works just for a while, there are many farmers who are ready to jump for the opportunity and the chances that it will stop yielding high returns.

What are The Platforms of Yield Farming?

There is no set plan for yield farming strategies, it may change by the hour.

Before you step into yield farming, you should have an idea of how decentralized liquidity protocols operate.

Because every platform and plan will have its own guidelines and risks.

The fundamental principle is to invest funds into a smart contract and receive rewards in return.

A nice piece of advice is not to deposit blindly in order to hope for a high return. You need to have a good understanding of risk management.

BELOW are some of the best yield farming platforms that need to be considered.

Compound Finance:

The compound is a money market algorithm that enables users to loan and borrow funds.

Now you can earn interest straight and easily, all you need is the ethereum wallet and an adequate amount of funds.

The compound is the first among the other platforms that come to provide support for Yield Farming.

Aave:

Aave is yet another protocol that offers lending and borrowing token. 

It is a system of smart contracts that operating on the Ethereum blockchain, which enables these assets to be operated by a distributed network of computers operating its software.

The tokens lent instantly begin to earn interest.

Aave’s other feature is flash loans, which enables users to borrow any amount of capital if it is repaid in the same deal, helping to seize immense opportunities for arbitration.

MakerDAO:

MakerDao is a decentralized lending facility built on the Ethereum blockchain.

Maker is a decentralized credit network that supports the development of DAI, an algorithmic stable coin linked to the USD value.

Users may open a Maker Vault where they lock the collateral assets like ETH, BAT, USDC, or WBTC. Moreover, They can produce DAI as a debt against this locked collateral.

Over time, this debt incurs interest that referred to as stability tax, whose rate is determined by MKR token holders.

Uniswap:

Uniswap is a crypto exchange that is based on Ethereum to allows everyone to swap ERC20 tokens.

To create demand, liquidity providers deposit the equal value of two tokens. Then traders will sell against the pool of liquidity. 

Liquidity providers receive fees from trades that happen in their pool in exchange for providing liquidity.

Many platforms designed to work with yield farming strategies that enable users to add liquidity to the pools and then stake those LP tokens for yield farming.

Synthetix:

Synthetix is a protocol for synthetic assets. This enables everyone to lock up Synthetix Network Token (SNX) or ETH as collateral against it and mint synthetic properties.

Talking about the asset. Then it is something with a stable feed rate.

However, This allows the Synthetix platform to be applied to almost every financial asset. Virtually everything can be used as a yield-farming commodity.

Yearn.finance:

Yearn.finance is a shared aggregator ecosystem for loan services like Aave, Compound, and others.

It aims at optimizing token lending by identifying the most profitable lending services algorithmically.

Upon depositing the periodic rebalance to maximize benefit, funds are converted to yTokens.

Moreover, Yearn.finance is beneficial for farmers who want a protocol that selects the best strategies for them automatically.

The Advantages and Risks of yield farming

Last but certainly not least. The advantages of yield farming are instantly obvious: benefit. Yield farmers who are early in adopting a new project will benefit from token incentives that can appreciate value quickly.

They can gain some important gains if they sell certain tokens at the right time. In other DeFi programs, these profits can be reinvested to generate even more yield.

In order to produce any meaningful income, yield farmers typically have to put down a large value of initial money, even hundreds of thousands of dollars could be at stake.

Yield farmers are exposed to a substantial risk of liquidation if the price unexpectedly drops, as it did with HotdogSwap, due to the extremely volatile nature of cryptocurrencies and particularly DeFi tokens.

However, there are risks like yield farmers take chances with the project teams and the smart contract code underlying them.

Many developers and entrepreneurs who bootstrap projects from scratch or even copy their predecessors’ code are attracted by the potential for gains in the DeFi space.

Although, the code is always unaudited, even though the project team is truthful, and could be subject to bugs that make it vulnerable to attackers.

Another RISK is BZx, which endured a number of hacks earlier this year and, most recently, lost an extra $8 million, which was later returned due to a single misplaced code section.

There so many risks like these are around with yield farming.

Conclusion:

So we have covered almost all the questions related to yield farming that you need to know.

DeFi money markets will help build a financial system that is more open and transparent and available to anyone

Let us know about how this yield farming is useful to you and what else do you want to know.

Categories
Cryptocurrency Knowledge

Setup ERC20 Payment Gateway With Coinremitter

Why don’t you take an advantage of ERC20 Payment Gateway to integrate it on your site?

There are ample benefits of embracing the ERC20 token on your website.

It is time to implement something new. You will be the one out of your competitors who accepts the Payments in ERC20.

It does not only give a new shape to your business but also it will expand your business to a GLOBAL level. Just another payment option and you are good to go!

Coinremitter has already started to give support to the ERC20 token. It will allow businesses within their platform to accept their tokens as payment.

Let’s go deep down to understand more about Tether USDT ERC20.

What is the USDT ERC20 token?

If you belong to the crypto world then you must have heard about the ERC20 Token.

ERC20 is a blockchain-based asset and has the same features as the other crypto coins such as bitcoin, litecoin, ether, and bitcoin cash.

The protocol standard used by the Ethereum network is ERC20. 

There are some guidelines and requirements in the protocol that must be complied with in order to publish tokens on the network. The Ethereum network operates on a large number of tokens.

The key difference between ERC20 tokens and other cryptocurrencies is that on the Ethereum network, ERC20 tokens are generated and hosted. Whereas bitcoin and bitcoin cash are the native currencies of their respective blockchains.

What does the ERC20 token stand for?

In order to differentiate this standard from others, ERC stands for Ethereum Request For Comments, and 20 stands for the specific ID number.

It can be compared to the Internet HTTPS protocol that websites need to stick to. Similarly, tokens must also follow all the specifications laid down in the ERC20 norm.

In smart contracts, these criteria are implemented. You are not ERC20 compliant if you do not comply with these standards, and the token is not considered to be ERC20.

Let’s quickly head to the benefits of ERC20.

What are the key benefits of USDT ERC20 for merchants and customers?

USDT ERC20 optimizes account usage and makes transactions much easier. 

If you are a merchant then the ERC20 token will bring a plethora of benefits to your company. 

Now you will receive your payments more instantly (compared to the conventional method) in USDT ERC20 after your customers send it.

ERC20 is the same as the other cryptocurrencies, the transactions through the ERC20 token are irreversible. 

Once you sent the payment, it will not be possible to recover it unless the beneficiary decides to repay your fund at their own convenience.

Moreover, transactions are fluid with this token, and even for a second, when the traffic is heavy, they are not obstructed.

For customers, USDT ERC20 utilizes complete anonymity for transactions that secure wallet addresses of senders and receivers across the network.

It’s easier to pay with an ERC20 token, although no need to carry credit/debit cards. Users just need to type their name and detail about shopping and they’re good to go.

Furthermore, due to its decentralized nature, there are no intermediaries running the network.

Start accepting ERC20 payments:

Now it’s time to start accepting your daily payments with the USDT ERC20 token.

In order to do that, you need a crypto payment gateway that handles all your ERC20 transactions securely and seamlessly.

Consider Coinremitter: ERC20 Payment Gateway to receive your daily payments.

The API will connect with a payment receiving gateway (Coinremitter) to the company’s checkout system.

All you need to do is an initial setup only, and you will be on your way to accepting ERC20 payments and other payments for cryptocurrencies in no time.

Integrate the ERC20 payment gateway on your website:

Before we head to the integration process, you first have to understand what the Coinremitter is and how it is different from the other gateways.

Coinremitter is a merchant friendly crypto payment gateway that offers quality services around the world to merchants and large/small organizations.

With Coinremitter, you can easily store, send, and receive crypto coins online safely around the globe.

There are a lot of features that Coinremitter offers to merchants such as currency swap, multi-currency wallet, No KYC requires, and create an invoice.

On top of that, the reason for the Coinremitter separates its presence from the other gateways is its low transaction fee which is just 0.23%.

Just because of its merchant-friendly functions and low transaction fees it becomes one of the top most acquired payment gateway among merchants. 

NOW you can integrate the payment gateway in just a few steps:

  1. Simply creates your ERC20 wallet on Coinremitter by filling up your details such as wallet name, password, etc.

    Soon after you fill out the details, your wallet will be created.
  1. Now you’ll need to have an API key and password after successfully creating a wallet.

    In order to get the API key, you just need to click on the ERC20 wallet that you have just created. Take a look at this API Doc for proper understanding.
  1. Finally, install the Coinremitter plugin on your platform.

However, Coinremitter supports well known open-source plugins such as Magento, Laravel, WordPress, and more, before you take a step, check that your platform is compatible.

There are different integration processes for every platform.

Conclusion:

Once you start accepting payments in ERC20 and in other cryptocurrencies, you will understand how it is beneficial for my company.

Some of its vital advantages such as:

  • Fast transaction.
  • It more effectively confirms the transaction.
  • Also, it reduces the probability of breaking contracts.

Remember not to forget to place a button “ERC20 Accepted Here” next to your other gateways, as a result, you will get the attention of your customers.

Categories
Cryptocurrency Knowledge

Top Trends in Cryptocurrency to Follow in Late 2020

The trends in cryptocurrency are changing. It’s almost a year-end and we are come up with the latest crypto trends that are going to affect businesses soon.

People have been embracing digital currencies since the launch of Bitcoin. As they become more familiar with the crypto world, the crypto industry is also blooming up.

Every month this industry comes with more opportunities for businesses. 

Let’s get on this quickly to check out what’s new?

Expanding Crypto Payments:

As more and more people began to accept crypto, which resulted in the impact of cryptocurrency on large/small businesses.

The Investments in cryptography have soared. Now that more people are using cryptocurrencies than ever before, customers will continue to expect from more companies to accept them.

This is a trend that is now at its peak to grow, such as the big billion company Facebook is also moving into crypto spaces.

It is very vital for every business in late 2020 and beyond to stay updated in the crypto world. 

By accepting crypto payments they can take their businesses to the next level. With the growing demand of crypto users, companies will have to give another payment option for their users.

Merchants can start accepting crypto payments with the Coinremitter: crypto payment gateway, that will help the business to grow, stand out from the competition, and bring more potential users from around the globe.

Global Market Improvements:

This is considered to be one of the MOST important cryptocurrency developments in its rising adoption by the government.

For example, China has already started to work on its first digital currency. As the digital Yuan sees broader use, foreign corporations may have to adapt to the use of cryptocurrencies.

The most renowned food companies like Subway and Mcdonald’s are participating in the trial of this currency.

This national support for crypto gives the cryptocurrency incredible credibility and publicity. As a consequence, digital currencies could soon become the standard for international trade.

Cryptocurrency support would have to be embraced by businesses who want to protect their international future.

Latest Rules From the Government:

This is another major one from the recent trends in Cryptocurrency.

With the rise of cryptocurrencies, authorities have imposed NEW tax rules on cryptocurrencies and their valuation. Crypto-asset firms will have to react to these latest legislative trends.

Indeed, the SEC classifies crypto tokens as securities, but some state legislation is modifying them.

Companies may take advantage of these shifting regulations and implement crypto without significant tax disruptions. These regulations could also make crypto investment a safer choice for more companies.

Most businesses were hesitant to invest in the concerns about uncertain regulations. 

Businesses may feel more comfortable adopting crypto now that governments are taking a firmer position on the matter.

Banking with Blockchain:

As crypto has accumulated more strength, similar innovations have emerged more commonly in banking.

In order to validate transactions and handle financial data, more banks are using blockchain technology these days.

Businesses out there may encounter technology more often because of the higher popularity of blockchain banking.

Moreover, banks are explaining the benefits of blockchain to the public, so the public can embark to demand in other fields.

It could mean more security and upward mobility for crypto firms, with big players investing in crypto.

Some Vital Trends in Cryptocurrency

Consider these trends which are going to elevate businesses, as well as help grow the crypto market.

DeFi:

Defi (decentralized finance) has become one of the most popular trends in the crypto world since last year.

The companies already in the field of blockchain have launched their DeFi products.

Investors who are looking for deep liquidity, varying risk-reward ratios, and exciting, affordable advanced financial tools have a whole new world of crypto opportunities.

Because of these popular protocols like Compound, Balancer, Curve, and other platforms have opened the door for them.

The role of Ethereum in the evolution of decentralized finance is once again shifting the paradigm of the blockchain.

This could affect not only the interest levels of both retail and institutional investors; technical considerations could also be affected.

In particular, as the ecosystem migrates to Ethereum 2.0 the underlying technology is undergoing a deep transformation.

Stablecoins:

It is commonly believed that rates on fiat-based stablecoin are never relevant to the underlying currency (like the dollar).

This is just a misconception, they are linked to a fixed unit, but their market prices fluctuate around that level.

This is where the arbitrage opportunities come into play. In which investors can buy at a low cost and sell at a high price. Eventually, they earn an adequate amount of revenue.

Derivatives:

After the advent of derivatives, It has become one of the key occupations of many market seekers.

The demand for derivatives has seen the evolution from equity to commodities to currency to futures of interest rates.

Derivatives derive their meaning from the underlying value. Yet, there are times when derivatives position perception would suggest a possible trend in the underlying.

Conclusion:

These are some of the popular trends in cryptocurrency in late 2020 that businesses should consider.

Let us know which trend did you find the most prominent and will be helping the businesses in the future.

Categories
Knowledge

How to make money with cryptocurrency: 10 Legit Strategies

Who doesn’t like to earn handsome money these days? TODAY we are come up with the most valid topic on how to make money with cryptocurrency.

You have certainly heard of many different ways to make a good profit online. But you probably have not heard about making money from cryptocurrencies.

YES! It’s possible to make money with cryptocurrencies. 

But what are the ways that you can leverage and start earning money from cryptocurrencies?

There are several ways you can make money, some of which don’t even require you to spend anything but your time and efforts.

Here are the ten PROVEN ways that are well working and many have been using it to make money with cryptocurrency.

We will assure you that you’ll find them very effective.

Let’s dive in…

10 Authentic ways of how to make money with cryptocurrency

First of all, YES you can make money through cryptocurrency, but only if it brings obvious advantages to you.

We are not covering here any false or fraudulent strategies. 

The methods presented below are LEGAL and GENUINE. In long-term business, these are always the most profitable and effective tactics.

1. BUY AND HODL:

Buy and hodl is a popular way to earn from cryptocurrencies. With this strategy, you can buy some cryptocurrencies such as bitcoin, litecoin, ethereum, etc.

Now you have to hold until the price of the cryptocurrencies that you bought surges. 

You can sell them in the market, once you get your desired price. However, before holding one of these currencies, make sure to analyze its 2-3 years record of how it was performed throughout the year.

Moreover, do not hold in any random altcoins, only invest in what gives you higher profits in the long run.

Because cryptocurrencies like BTC, ETH, etc. are good for long-term investment and HODLing.

How to buy it?

If you want to buy Bitcoin then you can buy it straight from its official website Bitcoin.org so there is no chance of your transaction to get hacked.

How to sell?

To sell Bitcoin, you can consider these platforms that include Binance, Poloniex, Localbitcoins, Bitmex, etc.

2. EARN WITH DEFI (DECENTRALIZED FINANCE):

The way people interact with their money is changing by decentralised finance (DeFi).

To earn from Defi will not be daunting for you. Defi is the replacement of conventional financial services through the use of blockchain services, specifically borrowing and lending.

Defi projects enable users to borrow money from liquidity providers (lenders) at a better rate than most banks ever would, enabling you to provide borrowers with liquidity and gain up to 11 percent interest.

The advantage is that Defi eliminates the need for a middle man, lenders and borrowers can openly use smart contracts to interact with each other.

3. TRADE WITH CRYPTOCURRENCIES:

Trade is considered the most profitable way to earn money with digital currencies.

To do trading on a crypto exchange, simply buy a cryptocurrency that you want to trade with.

Now hold it for some time and wait for the best opportunity to sell it and get the most out of it.

Sounds easy? Actually NO.

It requires certain skills and experience in trading cryptocurrencies. Most importantly the ability to understand the charts, technical indicators, and basic knowledge of blockchain and various projects.

Many individuals use Day Trading to earn sufficient profits by selling and buying cryptocurrencies on the same day. The same process goes with the Day Trading.

Furthermore, liquidity is a trading platform where it is possible to buy or sell a particular asset on the market quickly without having a considerable impact on its price.

NOTE: Consider that liquidity trading information is for your knowledge only, however, it is not the recommended option.

Also, it is advisable to use or invest in well-known crypto coins rather than go after unpopular altcoins.

4. INVESTING:

Investing is the way you can consider making money easily from cryptocurrencies. All you have to do is buy assets for a longer period of time.

But make sure you don’t hold the crypto-assets for a SHORT time because it’s extremely volatile. However, there are tremendous benefits over a longer period of time.

This investment strategy will give you a return not only through the price appreciation of the coin/token you buy but also through your share of the project.

In addition, we do not suggest investing in altcoins or in erc20 tokens. 

5. CRYPTOCURRENCY DIVIDENDS:

Crypto dividends work as you invest in a cryptocurrency with a dividend and gain fixed interest on your investment.

For the time that you want to gain interest, you will need to purchase and hold cryptocurrencies.

Well, there are range of crypto coins that will pay you for merely purchasing their digital assets and holding them.

The best thing about these coins that pay holders a dividend is that you don’t even have to stake them, especially in a wallet.

If you want to invest in dividend cryptocurrencies for interest then here are the followings: NEO, NEXO.

6. ACCEPT PAYMENTS THROUGH CRYPTOCURRENCIES: 

This approach is very essential as well as very beneficial for merchants and every business owner out there.

You can use crypto exchanges such as Coinremitter to enable your customers to make purchases on your website.

Cryptocurrencies are digital currency without the need to convert to other currencies and can be freely transacted and used worldwide.

You can integrate some of the popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc.

Consider integrating Coinremitter TODAY to take your business across the world by accepting your daily payments via cryptocurrencies. Check out the integration process.

7. CRYPTO MINING:

You must have heard the word “mining” because it is one of the oldest ways to make money with cryptocurrency.

People have been mining cryptocurrencies since the first cryptocurrency “Bitcoin” was launched.

Yes, it is still feasible to mine cryptos like Bitcoin (you are probably thinking this) but not with your home computer.

These days the process of mining is way much tougher than before.

Mining cryptos require high-end graphic cards, a well-built computer system, an application-specific integrated circuit (ASIC), and a lot of electricity.

Before doing this, you should have the sound knowledge of how to mine cryptocurrencies like the currency demand on the market, market conditions, etc.

Moreover, this method requires an expert’s advice, technical skills, substantial upfront, and initial investment.

8. YIELD FARMING:

Yield farming is emerging as one of the most popular ways for investors to earn their investment revenue from their investments in digital assets.

By putting funds in a DeFi (decentralized finance) protocol, yield farming gives people the ability to earn interest, fixed or variable.

SO, how can one make money with it?

An investor uses a platform to lend out their digital assets, earning a return that ultimately stems from borrowers paying an asset premium.

You need to understand that there are THREE ways from which yield can be harvested, this includes money markets, liquidity pools, and incentive schemes.

NOTE: Here is the list of farming projects to invest in. However, Coinremitter does not endorse anything.

9. USE REFERRAL:

This is a tactic not to forget. The idea is very simple to earn, all you need to do is register on the website, and you will get your unique referral code/link and you are all set. 

You can start referring and earning right away.

This is one of the legit ways to earn cryptocurrency, as there are no investments needed as well.

Crypto exchanges are the easiest way to locate a referral program. It is vital to look for a renowned cryptocurrency exchange such as Coinremitter.

In Coinremitter affiliate Program, you can earn up to 75% commissions straight from their revenues.

Schemes/fraud like Ponzi which are quite lucrative for investors. 

They promise large profits to consumers or investors based primarily on hiring others to join their programme, not based on profits from any real investment or actual sale to the public of goods.

SO, only invest or attend the trusted referral systems/programme which gives you the direct profit/commission from their revenue.

10. CRYPTOCURRENCY ARBITRAGE:

Arbitrage of cryptocurrencies is a form of trading that leverages price differences to make a profit. 

To understand simply, such price differences, usually referred to as “arbitrage spreads,” can be used at a lower price to buy a cryptocurrency and then sell it at a higher price.

There are two techniques exist, regular arbitrage and triangular arbitrage.

In regular arbitrage, you can buy and sell the same digital assets on various exchanges with major price differences.

However, in triangular arbitrage, there are price differences among the three currencies on the same exchange. 

There are some popular exchanges in which you can apply these two methods: Binance, Coinbase Pro, Kraken, Bithumb, etc.

You can take advantage of price differences by several conversions. Although, both methods are valid and you can make a good profit out of them.

Conclusion:

Now you have got a plethora of choices to make money through cryptos, and also you won’t need to search further for how to make money with cryptocurrency.

For those who already have funds and experience in the crypto industry, holding and trading might be the best option for them.

Do research well before taking any action and also study the market situation. The above ways are 100% genuine, understand it well, and start your earning.

By the way, do share your thoughts and experience with which method that you have tried or you are going to leverage it.

Categories
Bitcoin Knowledge

How To Keep Your Bitcoin Transactions Private

If you do frequent Bitcoin transactions then you need to be very careful with your online activities. Because it is the concern of your privacy.

Many think Bitcoin is the anonymous payment network. Yet Bitcoin is potentially the most open payment network in the world.

Moreover, Bitcoin will not disappoint you in terms of privacy, because it offers a satisfactory level of privacy when used properly.

BUT do not worry, here we are coming up with the ways in which you can protect your bitcoin transactions.

Below are the suggestions that you should remember.

Understand Bitcoin Transactions:

In the Bitcoin network, all Bitcoin transactions are public, traceable, and permanently stored.

The only details used to identify where bitcoins are allocated and where they are sent are Bitcoin addresses.

The wallets of each user generate these addresses privately. However, if addresses are used, the past of all transactions they are connected to becomes contaminated by them.

Since the blockchain is immutable, it’s important to remember that in the future, anything not currently traceable can become simple to track in the near future.

So, for the sake of these reasons, you need to keep changing your Bitcoin address after you made each transaction.

This brings us to the next factor.

Always use a new address when making Bitcoin transactions

Now, what do I mean by changing an address is that every time you receive your payment or you make a payment, consider changing your Bitcoin address to protect your privacy.

Moreover, you can use multiple wallets, this lets you isolate each of your transactions. This would make it difficult for them to be associated with each other.

The good thing is that your other BTC addresses would be completely private, people who send you money would not be able to verify what you do with them.

Do not forget this legit advice.

Hide the IP address of your computer:

Bitcoin network is a peer-to-peer network, It is possible to listen to the relays of Bitcoin transactions and log their IP addresses in the Bitcoin network.

Full node clients transmit the transactions of all users just like their own.

This means that it can be difficult to locate the source of any specific transaction and any Bitcoin node can be confused as the source of a transaction when it is not.

You can protect your computer’s IP address with software like “TOR”, this can prevent the tracking of your IP.

Mixing services:

There are some online mixing services that use separate Bitcoin addresses to blend traceability between users by receiving and sending back the same amount.

It is necessary to remember that, in each jurisdiction, the legality of using such services can vary and be subject to different laws.

These services often require that you trust the people who run them not to lose or steal your funds and not to keep a record of your requests.

However, mixing services can break traceability for small amounts. For larger transactions, it becomes increasingly difficult to do the same.

Do not let your Bitcoin address go online:

If you are very much concerned about your privacy then you should avoid publishing a Bitcoin address on any public space like a website or any social platform.

On top of that, remember not to use your same bitcoin address multiple times. Now, what happens is that if you use your Bitcoin address over and over, then you will be the easy target in the eye of hackers.

Moreover, you also need to take precautions about not using any of your transaction information online. If you do so then it could let someone easily identify your BTC addresses. 

Conclusion:

These are the five ways that you can consider to keep your Bitcoin transactions private and your funds safe.

The tips you should take into account is to keep changing your BTC address, use TOR to prevent your IP track, do not let your BTC address expose online, etc.

Using these suggestions can surely protect you from hackers and several kinds of fraud.

So, let us know in the comments which tips you are using to protect your Bitcoin transactions, or if you are not utilizing any of these helpful hints then you should promptly start considering it.

Categories
Knowledge

Bitcoin vs Ethereum: What is the Exact Difference in 2020

Today we are going to discuss Bitcoin vs Ethereum (huge currencies in the market), like what are the similarities, the differences, etc.

There are thousands of cryptocurrencies in the market and new ones are coming day by day, yet these two currencies still stand on TOP.

However, if we talk about the blockchain of Ethereum then it is totally different from bitcoin’s blockchain.

Bitcoin was exclusively developed as a digital currency while the Ethereum blockchain is a more general blockchain technology implementation.

Both coins allow anonymous transactions and there is no government involvement in managing or controlling the currency. 

What is Bitcoin?

Bitcoin (BTC) is a decentralized cryptocurrency that allows people to send and receive money around the world. It is the main cryptographic capital ever to exist. Read everything about Bitcoin here.

What is Ethereum?

Ethereum is an open platform for blockchain, allowing everyone to create and use decentralized apps running on blockchain technology.

It is an open-source project created by many people around the globe. It is the same as a Bitcoin no one owns or handles the Ethereum.

However, Ethereum is totally different from the Bitcoin protocol, Ethereum was designed to be flexible and scalable.

Moreover, Ethereum allows users to build their own operations of whatever complexity they choose, rather than giving users a collection of predefined operations (for example, Bitcoin transactions). 

Ethereum allows smart contracts and decentralized applications (dApps) to be deployed and run without any third party downtime, fraud, control, or intervention.

Ethereum’s potential applications are wide and driven by its native cryptographic token, ETHER.

Ether is like the fuel on the Ethereum platform for running commands and is used by developers to create and run applications on the platform.

Ether is primarily used for two purposes. First, it is used as a digital currency exchange in the same way as other cryptocurrencies and second, it is used to operate applications on the Ethereum network.

Now let’s dig in straight to the Bitcoin vs Ethereum.

Bitcoin vs Ethereum: Comparison

Bitcoin and Ethereum both have been gaining great hype these days.

Moreover, Bitcoin has become a globally famous and well-known cryptocurrency. it still has the largest market value compared to all of the cryptocurrencies available right now.

Conversely, Ethereum did not have a groundbreaking influence like Bitcoin, but its developer learned from Bitcoin and created more features based on Bitcoin principles.

Ethereum is actually the second-most-value cryptocurrency on the market.

Let’s understand the difference by considering the various aspects.

Purpose:

Bitcoin is a digital currency or also it can be considered as an alternate currency. Whereas, Ethereum enables peer-to-peer contracts and applications via its own currency vehicle.

That’s why Bitcoin has emerged as a digital currency which is more secure, while Ethereum is more about smart contract apps.

By serving as a building platform for DApps/smart contracts, Ethereum also differs, allowing it to submit tokens that represent values.

Other than digital currencies, these values can be stuff, making it distinct from Bitcoin.

Price predictions:

As per the investing purpose, let’s first talk about the price prediction of both ETC & BTC. 

BTC closely follows the pattern of the previous two halves, as per the stock-to-flow price model. 

The model indicates that, over this four-year halving period, BTC could hit $288,000.

Likewise, data research firm Econometrics recently released a $41,000 price target for BTC by the end of 2020.


All in all, both cryptocurrencies may be interesting opportunities for investment and have a position in an investment portfolio.

Mining:

In Bitcoin, with the method known as work proof, miners can verify transactions. The same process goes with the Ethereum.

However, Ethereum is going to switch to proof of stake. Now, what is proof of stake, well with proof of stake, a person can mine or validate the transaction in a block based on how many coins he owns. 

In the case of Bitcoin, each time a miner adds a block to the blockchain, he will be rewarded with 12.5 Bitcoins. The next time the payout will be cut in half in 2020.

For Ethereum, any time a block is added to the blockchain, a miner or validator obtains a value of 3 ether in Ethereum, and the reward will never be halved.

Fees:

Starting with Bitcoin, for each and every transaction, miners charge certain transaction fees.

If you want to process your transactions more efficiently, you can apply larger fees to your transaction which can then attract miners.

On the other hand, Ethereum does not use transaction fees, but it has a gas system. Gas is a device that calculates the amount of machine effort needed to conduct such operations.

Solidity is used to code all the smart contracts that run in the EVM. A certain amount of gas is required for each line of code in solidity to be computed.

Block Size:

One of the most asked question is the “block size”. 

In comparing Bitcoin versus Ethereum, the block size is significant. It plays a key role in the determination of a blockchain’s transaction costs, confirmation times, and scalability.

Currently, blocks are 1 MB on the Bitcoin network. Disagreements about the size of the block finally led to Bitcoin Cash produced as Bitcoin’s fork.

Whereas talking about Ethereum, the size of the block measured in gas, with each block limited to 12.5 million gases.

As recently as June 2020, the gas limit was raised from 10 million to relieve the burden on the network, improve processing capacity, and minimize the fees.

Daily Transactions:

Bitcoin has been handling more than 25k+ transactions per day. The last record on 29 Sept 2020 was 297814. 

As cryptocurrency interest grew and cryptocurrency market caps hit peaks during the crypto boom of 2017-early 2018, regular transactions on December 14, 2017, also grew to a total of 490644 transactions.

On the contrary, the daily amount of transactions done on the Ethereum network is represented by Ethereum Transactions Per Day.

Ethereum Transactions Per Day is at a current level of 1.088M on 29 Sept 2020. It was the highest recorded at 1.35 million transactions on January 4, 2018.

Time:

As for the average amount of time, it takes 10 minutes for Bitcoin to add a block to the blockchain and It just takes about 12 to 15 seconds for Ethereum.

Check out our guide on which cryptocurrency offers the fastest transaction speed.

Hash Algorithms:

Hashing algorithms mean how these systems can protect their privacy and ensure safety. 

Bitcoin uses an SHA-256 hashing algorithm, whereas Ethereum uses a cryptographic algorithm called Ethash.

Technology:

In terms of technology, Ethereum takes the prize. Here are the reasons why Ethereum is better at technology than Bitcoin. 

  • In 2015, the Ethereum blockchain was released. In contrast to the Bitcoin blockchain (released in 2009), it is 6 years younger and further established.
  • Ethereum brought smart contracts. Moreover, you can use smart contracts for a lot many things compared to Bitcoin uses.
  • A more advanced edition of Bitcoin’s blockchain is Ethereum’s blockchain. It solves some of its problems and adds new functionality, such as smart contracts.
  • Ethereum’s transactions cost much less, yet they are faster too.
  • Last but the least, The transaction fees of Ethereum are far lower than the transaction fees of Bitcoin.

Bitcoin vs Ethereum: which currency is better

Though, both currencies Bitcoin and Ethereum have their own advantages. 

Bitcoin has a smaller supply of coins and is more liquid than Ethereum, but Ethereum has stronger technology than Bitcoin and offers more benefits.

Moreover, if we talk about the peer-to-peer transaction system, then Bitcoin works better. And Ethereum works well when you need to develop and build distributed applications and smart contracts.

Now the decision is on your own!

Conclusion:

Both Bitcoin and Ethereum are highly important and useful

Even if you are not a serious investor/merchant in cryptography, by buying BTC or ETH tokens, you will not go wrong. 

They both add enormous value to the world of crypto.

Ethereum has unlimited use cases, whereas Bitcoin just solves problems with transfers and banking.

No doubt, Bitcoin has a better value and position in the market, but Ethereum has improved technology and greater ability.

If you want either of these currencies to use on your website as a payment option you can consider the reliable payment gateway “Coinremitter”. Which can seamlessly handle all your transactions.

SO, what are your thoughts on Bitcoin vs Ethereum? Have you figured out which currency works best for you?

Share your thoughts in the comments, we would love to hear.

Categories
Bitcoin Knowledge

How To Keep Your Bitcoin Wallet Safe: Fraud Prevention Tips

Are you taking enough safety measures to keep your Bitcoin wallet safe?

If you are doing, then it is a GREAT thing.

But, if you are not, then it would become a serious problem for you or you even might lose everything from your wallet.

But that day will never come into your life because we are here to give you some solid actionable tips that you can consider to keep your Bitcoin wallet safe.

Although, there is no doubt that Bitcoin is a very much safe currency and nearly impossible to hack.

Still, it is your job to implement good practices in order to protect your money.

It does not matter whether you use hardware, mobile, or a desktop wallet.

Your Bitcoin will always be attractive to scammers, fraudsters, and thieves, especially if you are holding or making purchases with a huge amount.

So, without any further due, let’s jump in.

What are the security risks if you do not take enough precautions to your Bitcoin wallet?

During the Coronavirus pandemic, the security risks have been increased. The hackers and fraudsters are trying to find new ways to access your wallet.

But do not worry, the crypto market can not be affected by such scams.

However, the risks are there. Below are the possible security risks that merchants could encounter.

1. Do not get overwhelmed

Yes, it can be the reason for your loss. Do not tell someone if you have profited from Bitcoin that you invested in a couple of years back.

This exposes you to all sorts of attention and makes you a target out there for really bad people.

Use common sense, you can be an easily targeted person both digitally and physically.

2. Scams involving phishing

During the pandemic, emails claiming to come from reputable sources such as charities and government agencies have increased.

How do these scams happen? This allows individuals to click on links to donate or buy personal protective equipment. 

These links are HIGHLY vulnerable from malicious websites where personal information can be leaked to hackers, such as private keys of crypto exchanges.

3. Scams related Investment

There are fraudsters who will act as a crypto-trader and tell you the high returns are now on cryptocurrencies just to make you fool.

They take the help of social media and emails to target users.

The predominant cryptocurrency on the market is now “Bitcoin”.

4. Never forget “Ransomware”

Ransomware can restrict a user from accessing a computer and its files, most commonly in Bitcoin, until the ransom is paid to hackers.

They also request payments via Bitcoin or other cryptocurrencies.

If you do not want to get into these troubles then install not just any but a legitimate anti-virus on your computer that protects your pc from any kind of current and upcoming viruses.

Now, let’s understand the ways that you can protect your Bitcoin wallet.

12 actionable advice that can keep your Bitcoin wallet safe

Despite these security risks, using crypto wallets is one of the best options to secure your cryptocurrencies.

If you take these tips into account, you will be free from any scams and security problems and your money will be out of any danger.

NOW, take a look at the safety measures you should take to protect your Bitcoin wallet.

1. Online Wallet:

 Using online wallets can store your private Bitcoin key online. It is a web-based wallet that can place great power into the hands of the organization that runs your online wallet because they have the private key.

It is always good to have access to your online wallet so that you can use your Bitcoins anywhere at any time.

There are some good legitimate online wallet providers one such example is Consider “Coinremitter”. It offers a bit more security like (2fa) and also encrypts your private keys.

2. Use two-factor authentication (2fa):

You must have heard about the two-factor authentication that just doubles your security with extra code.

It is essential to have two-factor authentication to your wallet, you need to take an additional security step rather than using only one password to access the crypto wallet.

3. A trusted password manager:

It might be challenging for you to remember the code of your private keys, which gives you access to your crypto wallet.

Now in this case you need a reliable password manager that can store and retrieve your code. 

And you will be free out of the hurdle to remember your private keys.

4. Use a solid password for your Bitcoin wallet:

It will be not any random password which generally includes birthdates, names, phone numbers, etc. You need to create a tremendously strong password for your wallet.

Your strong password should have contained the letters, numbers, punctuation marks and must be at least 14-18 characters long.

The safest passwords are those created specifically by programs designed particularly for that purpose. Remember your password or keep it in a very safe place.

5. Never give away your private key:

As its name depicts, your private key should be limited to yourself. 

Your private key is highly confidential. Do not share it with anyone and do not ask for transactions to be made for you by someone else.

Moreover, do not trap into the proposals or requests that involve a third party or person asking you to share your private key.

6. Save your private at a safe place:

Secure your Bitcoin wallet by saving its private key in a safe place.

It is recommended to write down the private key on a piece of paper and hide it to the location which can only be accessible to you.

Do not take the risk of saving on an electronic device, rather you have a very safe alternative.

7. Separate your wallet for daily transactions:

A very smart idea to separate your wallet if you use Bitcoin for your daily transactions. It also helps you in your time of need.

One great thing is that there is no limit on how many wallets you create.

The benefit is that the protection of your entire portfolio can be strengthened by sorting your transactions and keeping the most important ones apart.

8. Take backup your Bitcoin wallet from time to time:

Backing up your Bitcoin wallet regularly will protect you from computer crashes and a lot of human mistakes. It also helps to recover the data (only if you encrypted the wallet) if your device gets stolen.

It is less likely that any bad incident will keep you from recovering your wallet if your backup is not based on a single location.

Make sure that by periodically backing up all recent Bitcoin address changes and new Bitcoin addresses that you’ve created should be included in your backup.

9. Always verify the Bitcoin address:

You should always carefully check the recipient’s Bitcoin address when making transactions.

When you copy and paste a Bitcoin address and change the pasted output to another address, there are malware programs that can ‘intervene’.

You will end up giving your Bitcoins to someone else if you do not take enough care checking the wallet address.

10. Stay away from the suspicious links:

Whenever you surf the internet, just make sure to not click on any unknown or strange link.

Internet scammers are everywhere they can duplicate entire websites and use URL addresses that are almost identical to the legitimate ones.

If you use an online wallet or a similar service where you are required to enter the private key, make sure to verify that the website address is the authentic one.

11. Update your device software and antivirus:

Check for the update of your antivirus regularly. 

A daily upgrade of the software and antivirus solution is one of the best ways to improve the system to reduce vulnerabilities.

To prevent data breaches, you should always use the right security measures. The tips offered will enhance your protection online and help secure your Bitcoin wallet.

12. Use a VPN (a virtual private network):

Another way to improve your security is by using a Virtual Private Network app.

Using VPN you can encrypt your online connection, blocking hackers from tracking your crypto exchanges. To ensure their privacy online, many crypto traders use this method.

Final words:

These are the security risks and the possible precautions that you can take to keep the Bitcoin wallet safe and not let the scam happen to you.

No one is responsible if something happens to the security of your Bitcoin wallet.

The cryptocurrency scene is continually changing day-by-day and security systems are becoming more enhanced.

You should take all appropriate security measures and keep up-to-date with the latest changes and security upgrades.

Categories
Cryptocurrency Knowledge

Why it is essential for merchants to accept cryptocurrency in eCommerce store

Every business should know the importance of Cryptocurrency in eCommerce.

So if you are the one who is totally unaware of the effectiveness of cryptocurrencies for your website or you have just started your business and want it to be recognized worldwide.

Then, you just landed on the right spot!

Embracing cryptocurrency in eCommerce as a payment method can enhance your customers’ journey and extend your consumer base by providing more options at the checkout.

Here we are going to give you complete information on how the integration of cryptocurrencies is going to give your business a huge SUCCESS.

Stay tuned with us because we have a lot more to cover.

Quick info about cryptocurrency & crypto coin

Cryptocurrency is a digital payment method for verifying transactions that do not rely on banks.

It is peer-to-peer digital money that can enable anyone to send and receive payments around the globe. Yet it has no physical presence, it’s all online. 

Like any other currencies, cryptocurrencies are also used to purchase goods and services.

However, the difference here is that cryptocurrencies use cryptography to offer encrypted online transactions.

The transactions are registered in a public ledger when your consumers send you cryptocurrency funds. You store your cryptocurrency in a digital wallet.

Cryptocurrencies run utilizing a blockchain called technology. Blockchain is a decentralized technology that manages and records transactions distributed over many computers.

You definitely heard the name “Bitcoin”, well it is a crypto coin. There are so many this type of crypto coins out there. Some of the popular ones are Litecoin, Ethereum, Ripple, Tether USDT, etc.

Now you have got an idea about what is cryptocurrency and how it works.

What are the popular currencies to list on the website?

Cryptocurrencies that came after the launch of Bitcoin called Altcoins (alternatives to Bitcoin).

Let’s get to the details about the popular currencies that most of the people use to sell and buy products.

1. Bitcoin:

One of the most popular and widely used cryptocurrency. 

With Bitcoin, users are able to easily transfer the amount from one digital wallet to another digital wallet.

Many well-known brands currently using Bitcoin that includes Microsoft, AT&T, Boatsters Black, and more.

So you can imagine how popular and useful it is.

2. Ethereum:

Another extremely popular currency after Bitcoin is Ethereum also known as Ether. It’s managed by an open user network, just like Bitcoin.

There is no need for documentation to be processed because the smart contracts of ethereum are faster and simpler.

Hundreds of other users are able to validate transactions. In addition to getting verified, your transactions are also encrypted and stored on a public ledger.

3. Litecoin:

Litecoin is also yet another renowned cryptocurrency. It is faster than bitcoin in terms of process transactions which takes about 2.5 minutes compared to Bitcoin’s 10 minutes.

Moreover, Litecoin’s algorithms are less complex than Bitcoin. Litecoin has easier-to-crack algorithms. This can facilitate the settlement of mining transactions.

4. Ripple XRP:

Ripple uses the currency called XRP.

XRP was developed for users to digitally transfer money and not be exposed to bitcoin’s high transaction costs and conversion times.

Money is transferred to the XRP token to be sent through the Ripple network and then converted back to money when it is withdrawn. 

5. Bitcoin Cash:

The reason to develop Bitcoin Cash was to boost the scalability of Bitcoin. This has prompted Bitcoin Cash to grow in popularity.

Bitcoin Cash has increased each block size from 1 megabyte (MB) to 8 MBs to help boost transaction speed.

Moreover, a list of transactions that need to be checked is defined by each block.

List of Benefits for your business after integrating Cryptocurrency In E-Commerce

Here are the listed advantages of integrating cryptocurrencies as a payment mode on your website.

1. Top-level security:

The reason why people use bitcoin and other cryptocurrencies is its security. 

When making a transaction with cryptocurrency, you can not initiate a reversal when you approve the transaction or send the compensation.

The use of blockchain technology protects the privacy of users and offers protection from account tampering.

2. Reduced Fraud:


Overall, companies that accept Bitcoins are fairly free from fraud. From production through payment, Bitcoin is all-digital, so it is also remarkably linked to cash.

They will need to be more careful and cautious if businesses accept altcoins to turn them into dollars or another fiat currency. 

However, their system is likely to carry minimal fraud risk if they have suppliers to whom they can pay in coins.

3. Lower Fees:

Compared to other digital funding sources, one of the best things about cryptocurrencies is that it has lower overall fees due to no intermediaries such as banks.

But, there can be fees to convert the currency into a fiat currency, and so can a digital wallet that holds your coins.

Although fees are low, many will use a third-party service to create and retain their bitcoin wallets, such as Coinremitter.

4. Fast Transactions:

Cryptocurrencies can process immediately, giving you instant access to funds, unlike the credit card systems that take a couple of days to batch out and process.

The removal of intermediaries implies that, upon your approval, the transaction is completed.

And you will receive the payment instantly.

5. Attract more customers:

It will attract consumers from around the world. There are many who prefer to make purchases through crypto.

So, if you are the one who allows them to make purchases through the crypto then it can DRAW the attention of many consumers.

6. Separate from the competition:

Yes, it will separate your business from the competition, because if your business does something out of the box, then it will have an impact on competition.

How to accept payments through cryptocurrency in eCommerce

Now you might be thinking how do I start accepting?

So, there are generally two methods in which you can start accepting your day to day payments via your preferred cryptocurrencies.

In the first method, it requires your personal wallet. Now, what do I mean by your personal wallet is that you’ll have to set up a virtual wallet.

You can download it to your phone or computer, or you can also get a physical safe on a special hard drive that stores the cryptocurrency on the drive.

It really is the only protected hardware system that allows you to store the private key of a user.

Furthermore, the second method is preferable by many merchants. It will require the use of a third-party payment processor.

You can go with the payment gateway provider “Coinremitter” which will handle all your payment processes.

However, there will be an advantage for you if you use the second method which is that you can instantly convert your cryptocurrency payments into fiat. It will protect you from any price fluctuations.

Why Coinremitter is advisable is that it is currently giving the best to merchants as it’s also called merchant friendly gateway. 

Start accepting your payments in Cryptocurrency with Coinremitter

To begin the process, you need to know a bit about the Coinremitter: crypto payment gateway.

Coinremitter offers the integration facility into the supported plugins like Magento, Laravel, Opencart, WordPress, and more.

Not only that, but it also supports the most popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and more.

You can select the currency according to your desire. Moreover, you can even list more than one cryptocurrency on your eCommerce platform.

Look at some of its best features.

Coinremitter gives 100% when it comes to its functionalities. It offers great advantages and features over the other gateways.

It provides multi-wallet support, digital wallet, no KYC requires, currency swap, and invoice creation.

And the most notable one among the merchants is its lowest transaction fee which is only 0.23%.

Coinremitter is the only one that offers a low transaction fee to its merchants. 

It is very pocket friendly to every trader and small/large organization.

Let’s head straight to the integration process of cryptocurrency in eCommerce that you can complete in a matter of minutes.

  • Initially, you need to build a wallet for whichever cryptocurrency you want. You can set up your wallet on Coinremitter’s website.

    All you need to require is to fill the details like wallet name, password, etc, and you are good to go.
  • Soon after that, set your API key and Password. To get an API key, click on the crypto wallet that you’ve just created.

    The new page will be open and it will take you to the credential tab where you’ll get the API. Read the API Guide here.



  • Finally, install the Coinremitter plugin on your website. Check this integration guide for Coinremitter.

All things considered

As a viable potential option for online payments seems to be a bet that will depend on the development of the current commercial scene.

It is essential for eCommerce traders to be up to date with the latest trends.

In order to change the strategy quickly and achieve a strategic edge over the competition, this is the most important thing.

However, you can set your business presence apart from the competition by accepting cryptocurrency in eCommerce.

Not only does it work as a payment gateway but it will also bring various opportunities and take your business to new heights.

Categories
Cryptocurrency Knowledge

Crypto Payment Gateway Integration For Your Website

Here we have come up with how crypto payment gateway integration is essential for your website these days.

As the world goes digitally day after day, the vast improvement in the shopping experience has been implemented.

It doesn’t matter whether your business is an online store, traveling business, an organization, or any kind of business. 

You must need a crypto payment gateway that is fast, secure, affordable, and offers a seamless checkout experience. Because many people nowadays tend to shop online rather than going to the store. 

This means that every merchant who wants to increase sales and wants their business recognized worldwide should consider crypto payment gateway integration.

Since these payment gateways handle very important transactions on your site, you want to ensure that everything happens seamlessly & perfectly.

In this article, we are going to address the important points related to the crypto gateway that you need to know.

So without any further due, let’s get straight to the quick understanding of the crypto payment gateway and the way it works.

What is a crypto payment gateway?

People have been using cryptocurrencies extensively for many years, and many companies around the world have already adopted crypto payment processing services on their websites.

To simply understand, the payment gateway which accepts cryptocurrency as payment is known as crypto payment gateway. 

One can make a payment through various types of cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, etc.

Using a crypto gateway can eliminate the intermediaries involved in the process, which ultimately fastens the payment process.

The crypto payment gateway’s unique feature is transparency. This gateway makes payments easy, ensures the privacy and security of transactions.

If you frequently make transactions then this is the gateway that allows you to send and receive money instantly across the globe.

Furthermore, as we have already mentioned above that there is no involvement of a third-party. The amount will go straight to your wallet without any chance of being hacked or theft.

Let’s look at some of the questions that need to be addressed prior to the integration of the crypto gateway.

How does the cryptocurrency payment gateway work?

There are mainly two major differences. 

First, a client pays through a digital wallet, not with the credit/debit card. 

Second, the transaction needs to done via cryptocurrency, not with the fiat currencies like USD, AUD, RUPEES, etc.

Let’s understand it step by step.

  1. In the first step, your customer will go to your website and places an order through submit or its equivalent button on the checkout page.
  2. After that, the website or the e-commerce platform takes the customer to a crypto payment gateway where the customer will enter all the relevant information about the coin. (Like wallet address and key)
  3. However, then the customer will have to enter the wallet address and private key in order to send the amount. (The private key is similar to the bank account password.)

    (NOTE: Keep your private key as confidential as you can. If someone steals it, or if you lose it, your amount is at high risk of being stolen. Keep it safe.)
  4. Once the payment has been made and validated, then the transaction will be posted on the (coin’s) blockchain public ledger showing payment from your customers’ public address to your public address.

ISN’T IT SIMPLE?

This whole process is highly secured and payments are made without the need for intermediaries.

Now let’s talk about some of the advantages if you’re integrating the crypto payment gateway to your web.

Know the advantages your business can gain from using the crypto payment gateway

It has been observed that merchants from a variety of industries are turning to accept payments into cryptocurrency to enjoy a number of advantages that are not provided by conventional payment methods.

Here we’ve highlighted some of the most significant benefits that businesses can gain by adding crypto as a payment option. 

1. Unmatched security:

Customers are not required to share any personal data when making cryptocurrency payments. The payments are completely anonymous, so hackers don’t have any identifying data to steal.

In addition, many companies greatly value their privacy, so they use cryptocurrency over other payment options simply because the buyer is not identified by any means.

2. Extremely low fees:

If we talk about the payments through credit/debit cards or banks, then there are tons of fees associated with them. In short, they all charge some type of fees which usually ranges between 3& to 6%.

However, cryptocurrency payment gateways like Coinremitter charges the lowest fee (only 0.23%) compared to other gateways. This can save you a significant amount of money.

3. Take your business globally:

Now even the smallest companies can now internationally sell their products and services or buy their supplies and equipment.

Business owners can avoid the hassles and costs that come with foreign currency transaction fees and exchange rates, with the help of cryptocurrency.

4. Attract consumers across the globe:

There are numerous crypto fans out there who are specifically looking for digital currency-accepting companies.

You can also gain a serious advantage over your competitors that don’t accept crypto by adding this new payment option.

5. No chargebacks:

There is no turning back in the case of cryptocurrencies. Once a transaction has occurred, the funds will go straight from one wallet to another, and the transaction will be recorded and can not be reversed.

Chargebacks are intended to STOP frauds.

Easy payment gateway integration with Coinremitter

If you have made up your mind to integrate a crypto gateway on your website then you must need to know about the Coinremitter.

Coinremitter is a crypto payment gateway in which you can start accepting your payments via cryptocurrencies.

It is a merchant friendly payment gateway with a large user base. Coinremitter has overall processed 6k+ Bitcoin with 2.3M+ total transactions.

Talking about its features, Coinremitter comes with loads of essential features which include a Digital wallet, multi-wallet support, no KYC & ID requirement, currency swap and invoice creation.

The most notable feature, and one of the reasons for many traders to accept Coinremitter, is its lowest transaction fees. 

Coinremitter charges 0.23% transaction fee which is the lowest among other crypto gateways.

The REASON behind its lowest fee is that it is created specifically for traders and small/large businesses to make them grow worldwide.

Moreover, the integration process of Coinremitter will not be a daunting task for you.

Follow our steps to Easy payment gateway integration in just three steps.
  1. It’s all starting with a wallet. As coinremitter provides a digital wallet service, you can start by making a wallet of whichever coin you want to list on your website.

Just fill out the details (wallet name, password, etc.) and you are good to go.

  1. After that, you’ll be required an API key & password in order to start accepting crypto payments on your website.

    To get that, click on the wallet that you have just created, and you’ll be redirected to the credential tab where you’ll get the API.

Consider this API Guide to understand deeply.

  1. Finally, just install the Coinremitter on your website.

    Coinremitter supports a number of popular open-source plugins so you can install it according to your platform.

    Check this guide for the installation process for Coinremitter.

That was all about the Coinremitter payment gateway integration.

Categories
Bitcoin Knowledge Tutorials

How Integrating Bitcoin Gold Payment Gateway Profits Your Online Store

Setting up a Bitcoin Gold payment gateway onto your site can give your customers another opportunity to pay for their goods.

However, it does not only offer a different mode of payment but, it also attracts clients from across the globe.

But how can this happen? (you might have this question in your mind)

Because, before the integration of the Bitcoin Gold payment gateway your customer had no option except to pay with credit/debit and PayPal.

So they tended to return from your website without making any purchase.

BUT, this is not the case with Bitcoin Gold or any other cryptocurrency. You’ll be have every payment option listed on your website. 

What it does is that this can let your customers make a purchase from their preferred payment option. Ultimately, you’ll gain new consumers and it will help in growing your business internationally.

Now, let’s get to know about what is Bitcoin Gold.

Bitcoin Gold

Bitcoin Gold (BTG) is a new form of cryptocurrency that emerged as a result of a hard fork in Bitcoin and strives to be more decentralized than Bitcoin.

It is used as a peer-to-peer currency capable of managing day-to-day transactions and competing with conventional credit card transactions like Visa.

BTG utilizes the same PoW consensus algorithm as BTC, so the only distinction among them is the use of the Equilash hash algorithm rather than SHA 256 to avoid Bitcoin Gold mining unless it is done with ASIC equipment.

Bitcoin Gold can be used just as Bitcoin Cash can be. It is a legal cryptocurrency, which can be used to transfer money or use it for investment purposes to others.

SO, before we move on to the integration part let’s look at some of its advantages. You’ll get to know how it’s beneficial to your business as well as your current & future customers.

Advantages of Bitcoin Gold to merchants

Bitcoin Gold is pretty much like Bitcoin except for a few distinctive characteristics.

These are the leading advantages: Fungibility -1 BTG is at any time equal to 1 BTG. The BTG is similar, replaceable, and interchangeable as a fungible digital currency.

Here, we have listed the advantages of your business as well as for your customers.

Profits your business:
  1. Usually, you can collect payments from BTG a few seconds after your customer sends them. That’s because the conventional payment processors don’t slow down transactions.
  1. Acceptance of Bitcoin Gold offers the company the potential to grow into an emerging client base for the future of payments and tap: people directly looking to invest their Bitcoin Gold.
  1. Since Bitcoin Gold transactions are irreversible, it becomes difficult to recover charges. Instead, consumers may be refunded at their own convenience.
  1. One of the key benefits of using Bitcoin Gold is that it offers security and relative anonymity. No personal details are needed to access the Bitcoin Gold wallet.
Profits your customers:
  1. Bitcoin Gold like Monero utilizes complete anonymity for transactions, protecting senders and receivers’ wallet addresses on the network.
  2. Thanks to its improved design, it allows for quicker transactions. While Bitcoin is thought to generate around 5 transactions per second, it is estimated that Bitcoin Gold is up to 27 TPS.
  1. It’s easier to pay with Bitcoin Gold, although there is no need to carry credit/debit cards. Users only have to enter their name and shopping information and they’re good to go.
  1. Bitcoin Gold is decentralized and there are no intermediaries operating the network, the transaction fee is also quite low.

Begin accepting Bitcoin Gold payments via Coinremitter

Why to delay?

TO stand out from the crowd, you have to take the step NOW!

Coinremitter will help you with that.

BUT first, understand why you should install coinremitter in order to accept BTG payments.

Coinremitter is a Bitcoin Gold payment gateway, also it offers many other currencies to integrate other than bitcoin gold. 

It is a merchant friendly payment gateway that offers tremendous features to its users such as currency swap, invoice creation, multi-currency wallet, No KYC requirement, 24/7 support, and more.

Moreover, it offers the lowest transaction fees (only 0.23%) which makes it very AFFORDABLE to everyone.

So that was all about its features and specifications now let’s head on to the integration process.

  1. First and foremost, you need to build a Bitcoin Gold wallet so you can start accepting your consumers’ BTG payments.


  2. After setting up a wallet, you’ll need to have an API key. You’ll get it by clicking on the BTG wallet. Read Get API key process.
  1. Then, you are good to install Coinremitter on your platform. Moreover, Coinremitter supports the most renowned open-source plugins such as Laravcel, Magento, OpenCat, WordPress, etc.

    Install according to your platform, as every platform has a different integration guide.

To sum up:

As you have seen the advantages for your customer and also for your business. By doing this, you are helping your clients and eventually, it’s going to help your business to grow.

Moreover, you can even list out “Bitcoin Gold Accepted Here” next to your Paypal, debit/credit, and other payment options.

This will draw the attention of your customers.

Categories
Bitcoin Knowledge Tutorials

Setup Bitcoin Cash Payment Gateway On Your Website

Integrating the Bitcoin cash payment gateway lets your customers pay who have been specifically looking to make purchases with cryptocurrency.

Setting up a crypto payment gateway for your customers is the best you can do TODAY!

If you want to stand out from the competition and expand your business to the international level then these subtle improvements on your website can give your business a new shape.

ALL YOU NEED to do give another payment option to your customers. Bet me, this will impact a lot on your business than you think.

As a merchant, your key priority is to be able to accept and process Bitcoin cash payments as easily and seamlessly as possible.

Thus, you can please your customers and accept bitcoin cash payments without any headaches.

Bitcoin cash offers quick and low-cost transactions. As the world digitally changes, electronic currencies like Bitcoin cash are becoming the go-to way of paying online and in retail stores.

Before we set up bitcoin cash payment gateway, let’s understand what is Bitcoin cash and how it’s helpful to your business.

What is Bitcoin cash

Bitcoin cash is a peer-to-peer cryptocurrency and people have been using it for a couple of years in their day-to-day transactions.

Nowadays, it’s not only the world’s first but also stable and most popular cryptocurrency.

Before the Bitcoin cash had a maximum block size of 1 MB, then it later increased to 8 MB, and now the current block size is 32MB. 

This means the increased block-size will allow more transactions to be processed.

With the Bitcoin cash, you can send and receive bitcoin cash payments directly from person to person. Moreover, Bitcoin cash is also used for investment purposes.

Why merchants should start accepting Bitcoin cash payments

There are a number of traders and users who have already set up the Bitcoin cash payment system on their website.

However, there are many organizations that don’t know the benefits of accepting Bitcoin cash payments.

So, let’s get straight to it.

1. Bitcoin cash is irreversible:

Transactions of Bitcoin cash payments are irreversible. What does that mean is that once the funds have been sent to the receiver’s wallet, the refund will not be available unless the receiver agrees.

Unlike the debit/credit cards where the payments can be refunded. However, this isn’t the case with bitcoin cash. Irreversible payments can also prevent fraud and give companies EXTRA protection.

2. Better user experience:

Using Bitcoin cash also offers consumers a better shopping experience since they don’t need to worry about theft of their credit cards.

It is a lot easier to pay online with Bitcoin cash. You don’t have to carry your cards and fill out all the informations. You can pay directly through BTC by entering your name and shopping information.

3. Expand business:

Accepting Bitcoin cash payments can expand your customer base. Moreover, many consumers these days are using BCH to buy products and services. Even, anyone with a smartphone can use BCH.

Coinremitter helps merchants by allowing them to integrate the BCH payment gateway on their website. So the customers from all over the world can make purchases.

4. Faster transactions:

After your client sends them you can receive BCH payments in a few seconds. This is because the traditional payment processors don’t slow down transactions.

However, payments don’t go through banks, there’s no delay or failed transactions. BCH is paid straight from the digital wallet of the customer with the transaction completed in a few seconds.

Accept Bitcoin cash payments through Coinremitter

To accept bitcoin cash payments on your website, you need to have a Bitcoin cash payment gateway installed.

Coinremitter: the bitcoin cash payment gateway helps merchants to accept BTC and any other cryptocurrency payments quickly & smoothly without any hurdles.

This merchant friendly gateway offers such quality features like multi-currency wallet, create an invoice, current swap, and more. 

However, coinremitter is known for its low transaction fees which is just 0.23% (lowest in the market)

With such features, it’s become popular among merchants from the past couple of years.

If talk about its integration process then it can be done in only 3 STEPS.

  1. Merchants should have a Bitcoin cash wallet. In order to set the Bitcoin cash option on the checkout page. The process of setting up a bitcoin cash can be done ion a matter of minutes.
  1. In the next step, you’ll require an API key and password which you can access by clicking on the Bitcoin cash wallet. You can read the API process here.
  2. That’s all, you’ve come to an end. Now you just need to install Coinremitter on your website. Install according to your platform and you are good to go.

Last words:

That was all about bitcoin cash. Integrating bitcoin cash can set your business presence apart from the competition.

SO, integrating BTC gateway is the wise decision you can take at the moment to extend your business and attract international clients.

Categories
Cryptocurrency Knowledge Tutorials

Integrate Dash Payment Gateway With Coinremitter

Have you ever thought about integrating the Dash payment gateway on your website and how your business is going to stand in upcoming times?

The “Dash Coin” becomes one of the world’s biggest cryptocurrency around the globe for the last few years.

Why does the Dash become much popular? The reason is that it offers a higher transaction speed and better privacy than Bitcoin due to its Masternodes feature.

Integrating the Dash payment gateway will give your consumers what they’ve been looking for and couldn’t get on your website.

So, if you give an option to make payments through Dash then the chances are that your business will attract customers from across the globe. Which eventually helps in growing your business globally.

SO, let’s first get to know what the dash is.

A quick idea about Dashcoin

Dash is a cryptocurrency similar to Bitcoin, which is a digital currency used for sending or receiving payments.

It developed on top of the blockchain technology that Bitcoin uses, but it has undergone some substantial changes.

However, Dash has many features that give it an edge over other cryptocurrencies such as Bitcoin and Litecoin.

Dash can be used to make transactions more privately and speedily way due to its three features: Masternodes, PrivateSend, and InstantSend.

Dash uses these Masternodes as a supplementary layer for its network. Reducing the need for trusted third parties to approve transactions that could potentially threaten the anonymity of any payments.

NOW, you’ve probably got what is the Dashcoin, which brings us to the next point which about its advantages for online businesses.

How accepting dash payments benefits your business

Dash is a quick and inexpensive way to accept your payments, whether it is an online store or any other business.

It offers significant advantages, in terms of transaction times, fees as well as security over credit cards, and other similar services.

Here are the benefits of Dash that both merchants and their consumers can get.

1. Lightning-fast transactions:

When it comes to transaction speed, Dash is much more obvious because it has a service called “instantsend”. This ensures that Dash is transferred from one wallet to another within 1 to 3 seconds.

Whereas, bitcoin takes an hour to complete. 

Moreover, in the case of unofficial wallets, the transaction speed is always the same.

2. Top-notch security:

In some cryptocurrencies, the individual can be connected to the transaction they made through an IP address and their wallet details. 

However, this isn’t the case with Dash. It has a feature called “PrivateSend” that allows users to transact entirely anonymously, unlike the pseudonymous Bitcoin.

3. No payments conflicts:

The blockchain system verifies that funds are available prior to the completion of the transaction. This making it almost impossible for consumers to make a payment without enough dash in their account.

Moreover, unlike most of the systems that accept credit cards, there are no holdbacks. When anyone pays with Dash you automatically receive all the funds.

4. Lower Fees:

As every financial transaction, there are fees paid for network support, which also happens with cryptocurrencies.

There are varying transaction fees within each of them, which are typically lower than conventional banking rates, in the case of Dash, they are lower than those of other cryptocurrencies.

Start integrating dash payment gateway your website

In order to integrate the dash payment gateway in your eCommerce store, you need a Dash payment API required.

The API will connect to the checkout system of the company to a payment receiving gateway.

This new payment infrastructures are technologically sophisticated and provide many features such as the ability to allow purchases in your smartphone, as well as access to real-time buying data. 

This can be used to help you plan ahead and make major business decisions.

The success and development of Dash as a mode of payment has made it a wise business decision to add a merchant account.

The process of integrating the dash payment gateway is easy and fast.

Install coinremitter: the dash payment gateway

Coinremitter is merchant friendly dash payment gateway that merchants can easily integrate on their site to offer another payment option to their consumers.

The range of features that Merchants can offer their consumers is secure checkouts, faster transaction experience, no hidden charges, and more.

Apart from that, as coinremitter is made to consider the need of merchants to offers some insane features which set it apart from the rest.

Speaking about features, like multi-wallet support, no KYC requires, currency swap, create an invoice, and most notable is the low transaction fees 0.23%.

The installation of Coinremitter can be done in a matter of minutes. Starting with setting up a DASH wallet.

Afterward, you need an API key in order to accept Dash payments. You can get it by simply clicking on the dash wallet that you have just created.

And in the last, install Coinremitter. As coinremitter supports the majority of open-source platforms so that you won’t encounter any difficulties regarding that.

Install according to your platform.

Categories
Tutorials

How To Accept Litecoin Payments With Coinremitter

YES, your business needs it. Staying up to date in the financial world should be your top priority.

Your business is not the first, there are way many organizations around the world that are already accepting Litecoin payments on their website and covering good SALES.

Litecoin is one of the most popular modes of payment that widely used by every merchant after Bitcoin. 

The time has changed, people have more options when it comes to making a transaction over the internet. Over the last decade, we have radically changed the way we get value over the internet from conventional payments to digital currencies.

Litecoin and the other cryptocurrencies have been extensively used in online stores and eCommerce websites to accept crypto payments from customers.

A quick idea about Litecoin:

Litecoin is a cheaper alternative to bitcoin. It’s a decentralized peer-to-peer digital currency that enables instant and low-cost payments to anyone worldwide.

It is also known as LTC and is the third-largest cryptocurrency evaluated by industry capitalization after Bitcoin and XRP.

It works as the same to its counterparts like transferring currency to one another. The only difference is that litecoin conducts transactions in units of Litecoin, not in USD or any other currency.

The history of the Litecoin’s price has revealed that it has been one of the best performing digital currencies with a steady VALUE since its beginnings.

SO, you can imagine the popularity of Litecoin, which brings us to the next point.

What benefits merchants can get from using the Litecoin payment gateway:

By accepting Litecoin payments on your site, you can serve the needs of your current and future customers. Ultimately, it will differentiate your business presence from your competitors.

Let’s understand that if you integrate the Litecoin payment gateway on your website, then what benefits your business would get.

1. Larger customer base:

If your business accepts Litecoin payments then you can attract a whole lot of consumers that are a tech enthusiast. 

By adding another payment option, your business will give them a secure and faster transaction experience.

No matter how small your business is, you can take your business internationally, regardless of the costly cross-border transaction fees.

With Litecoin, nothing can stop you from going global. As cross-border payments are easier, faster, and cheaper with Litecoin.

2. Faster transactions:

Litecoin processed instant payments, giving you prompt access to funds, unlike credit card systems that take a few days to batch out and process.

For small businesses, getting cash on hand is sometimes difficult. Acceptance of Litecoin payments will put cash within your grasp faster than when accepting payments via cards.

Litecoin has four times the total Bitcoin supply, and each litecoin block can process more transactions leading to faster confirmations.

The average Litecoin transaction takes just 2.5 minutes to complete as compared to Bitcoin, which takes up to 10 minutes.

3. Prevent Frauds:

In Litecoin, people can do transactions regardless of the disclosure of their personal information. This could only be possible if you transact through Litecoin or any other cryptocurrencies. 

There is no chance that anybody would leak the information and hinder the system. 

With Litecoin, that form of value does not have a personal identity attached. It is very much like digital cash.

4. Low Transaction Costs:

Yet another great benefit is the low transaction fees associated with each transaction. 

Though, it depends on how you accept litecoin payments, whether it is direct to your wallet or through a third-party provider such as Coinremitter. 

The fees are significantly lower than the services like Paypal or credit/debit card providers.

An important thing to note is that using Coinremitter: litecoin payment gateway provides 0.23% transaction fees to every merchant, which is the lowest among other gateways.

How to accept Litecoin payments on your website:

To start accepting Litecoin payments on your website, you need to have a Litecoin payment gateway installed on your site.

That means a Litecoin payment API is required. Now, what the API does is that it connects to the checkout system of the company to a payment receiving system.

All you need to do is just an initial set up, and in no time you can be on your way to accepting Litecoin and other cryptocurrency payments.

Integrate Litecoin payment gateway with Coinremitter:

Coinremitter is a merchant friendly crypto payment gateway that offers quality services globally to traders, large/small organizations, and those who love crypto.

It offers the ability to store, send, receive crypto coins online safely in minutes around the world.

Talking about its functionalities which includes a multi-currency wallet, currency swap, create an invoice, No KYC requires, and the most prominent is the low transaction fees 0.23%.

That’s why it becomes the most acquired gateway by merchants.

To integrate Litecoin on your checkout page, you must have to create a Litecoin wallet. It is very easy to set up the Litecoin wallet by just filling the required details.

Soon after that, you’ll need to have an API key and password which you will get by clicking on the Litecoin wallet. 

In the end, you have to install Coinremitter on your website. Coinemitter supports the most popular plugins such as Opencart, Magento, WordPress, and more.

There’s a different integration process for every platform.

To conclude:

So, that was all about Litecoin, how it’s helpful to your business, and how you can integrate into your site to accept litecoin payments.

By doing this, you’re providing much value to your consumers and giving them what they want.

Categories
Knowledge

Understanding DeFi And It’s Way Of Work

The new technology called DeFi (Decentralized Finance) has been taking its place in between the market of cryptocurrencies and blockchain-based decentralized firms.

This particular object refers to smart contracts, digital assets, and decentralized applications on the Ethereum.

To understand DeFi in simpler terms, it is a financial software built on a Blockchain. In the year 2019 DeFi has quickly become the topic of conversation as the big thing coming out from the Ethereum network.

Since the digital era has started subsequently, everything has now gone digital. From product purchase meant to demand service.

Many technologies are exponentially changing the way of living then how could currencies be excluded from it?

However, To understand DeFi we must go through from the beginning of it, and understand the way of its work.

What Is DeFi? 

As stated above, it is a financial tool built on the blockchain on the network of Ethereum. One of the main things for DeFi is to make financial service open for everyone.

Moreover, it makes to short the people’s trust, central agencies. These following things like cryptography and specifically blockchain are building trust between the individuals. Where they can safely store their private data, transactions, or amount in the digital wallet without any involvement of Centralized firms.

On the network of blockchain, You can verify data by becoming an individual entity or any transaction which supposedly occurs on the blockchain.

In contrast, this is an open service to anyone. In the term of DeFi applications, they are called Dapps (Decentralized Apps).

They are likely a Peer 2 Peer financial framework and their work is to lure to trade and hold financial assets with the least involvement of third parties. They are structured on the fundamental design of a Blockchain.

All the DeFi applications are mainly built on Ethereum Blockchain Network.

Smart Contracts:

On the Ethereum network, the system can maintain a digital value of ledger. The users or developers can run applications on the Ethereum blockchain simultaneously to create or maintain digital coins, or assets.

This however is called smart contracts. These smart contracts are waged by the Ethereum blockchain network.

One of the notable things is that these contracts are invariant and can be created without the involvement of third parties.

DeFi has the ability to make the financial service even simpler and fetch the transparency in the financial service.

As this is an open-source material, therefore, anyone can make their own smart contract and can use some of the information from the existing smart contracts with this functionality user/developer can compare both contracts and choose the appropriate service for them to use.

What Are The Benefits Of DeFi?

By eliminating the involvement of the third person it does provide the low cost & less transaction time.

Although, it gives freedom to those who don’t have permission to access financial services. The following benefits are:

  • Like centralized governance, you don’t have to take the form of capital in Decentralized finance.

  • More in that, it can allow you to put your money on individual work and maintain a stable value for your money.

  • You’ll conjointly have full control of your finance. In general, Dapps let you deposit your digital cryptocurrency without letting anyone stand in front of you.

  • Not only normal users but also owners who are creating financial products are seamlessly accepting DeFi service in order to create a futuristic financial service.

  • Since the decentralized currencies have introduced to the world moreover, they have no obstacles to in between the border. Just like this DeFi has been working on the same concept conversely, with better ways.

Last Words

In conclusion, there are so many new things that have yet to come out in the DeFi service.

All we can do is to wait until the service gets even better and sophisticated for individuals.

Understanding DeFi can be convoluted sometimes but one thing to keep in mind is that it allows you to enter into a finance world with having the least knowledge about it.

Regardless, seeing the future of DeFi, it looks bright, and showing the popularity of Blockchain is clearly inevitable for the future of financial service.

Categories
Knowledge

What Is Bitcoin Halving And How Often It Occurs?

An event that takes place in the upcoming few months. The event is called Bitcoin Halving.

Halving is the process where Bitcoins have to go through a process when it reaches 210,000 blocks.

The process will continue until the network has generated a maximum supply of 21 million Bitcoins.

The halving process also occurs to miners. The rewards every miner receives after every transaction of bitcoin will be halved and miners will receive 50% fewer bitcoins for the transaction they verify.

The halving process is the most important even among the traders. In contrast, the number of bitcoins production is being stopped during this process therefore, it becomes so obvious to see the rise of bitcoin price due to high demand.

However, it statically happened a few months before the halving process started which accordingly caused bitcoin price dramatically.

How often does it occur? 

Next bitcoin halving is happening in 2020 conversely, the date and month are not yet known.

Bitcoin halving occurs every 4 years. In general, the previous halving took its place on 9 July 2016 therefore, it might be possible if 2020 halving takes its place in the month of May or June.

Although, it will leave a major impact on the miners as before the previous halving happened miners used to get 50 BTC on every transaction.

When this tragedy occurred miners received 50% less BTC which means price dropped from 50 BTC to 25 BTC

However, this halving price/reward will also drop down from 25 BTC to 12.5 BTC for each bitcoin transaction.

The reward will cut in half till the last bitcoin halving.

What will happen to the bitcoin price?

As many bitcoin experts have said, the price of bitcoin may follow the same structure to the two previous halvings.

On 7 February 2020 bitcoin bounce on $10,000. It seems strange that halving will happen and suddenly the price surge up just like in the previous halving bitcoin price raised from $576 to $650.

Regardless, the bitcoin price is consequently dependent on its supply though sometimes demand could remain static.

However, since trading has become more mature traders are now more likely to invest in other cryptocurrencies too.

Therefore, when bitcoin surmounted its $10,000 price in the current month, then it led everyone to one conclusion that demand of this coin is high at peak nonetheless, supply is low now.

If the price of bitcoin went down then the conclusion was something else as supply would be high and demand would below.

Bitcoin Deflation

No.1 cryptocurrency in the world now. Conversely, No one shouldn’t feel hesitant while saying that bitcoin is a type of deflation.

In simple language when the time comes a supply of bitcoin will be stopped when it reaches 21 million caps.

Deep down every bitcoin trader knows that bitcoin’s concept lies within a mining process.

What will happen after the bitcoin cap reaches 21 million? 

When the supply reaches 21 million, users will not be able to get new bitcoin as the mining process will be stopped at that time. Conversely, miners will no longer receive bitcoin to verify every transaction.

Besides, they will receive transaction fees from those users who are making transactions.

Eventually, the last halving will take its place in 2140 till then, bitcoin will remain as a type of deflation.

What happened with miners when bitcoin price cut in half?

As stated earlier that when miners price cut in half, miners eventually count their price in advance and find out that the mining process would no longer be profitable for them.

In contrast, the mining process requires vast amounts of electric power and other hardware.

Some miners decide to stop mining as the resources which require mining bitcoin would cost them more than their earnings.

However, when miners step away from the process, then the software will automatically adjust and verify each and every transaction to maintain its rate and speed.

Categories
Knowledge

What’s The Future Of Cryptocurrency And Will It Go Beyond After Halving?

The Future of Cryptocurrency: The journey of cryptocurrency is a kind of roller coaster ride for analysts and traders.

The year 2017 the time when Bitcoin has shown its earth-shattering price conversely, price cracked down in the exact next year exponentially.

Besides, In 2019 it kept its low profile and made merchants’ faith retrieved in it. Although, At the beginning of the new year it again showed its dramatic uprising.

Therefore, by understanding the situation of bitcoin, it also does apply to other crypto coins too.

The price situation of cryptocurrency is a convoluted loop, no one knows what will happen next or can’t predict the exact situation for crypto. But one can predict it if it’d be invented by an entity.

The Future Of Cryptocurrency

Some crypto traders and analysts have predicted gigantic change in the cryptocurrencies, Especially in bitcoin.

There may be strong possibilities for crypto coins to get a skyrocketed price. Though, we have seen mass adoption to accept several crypto tokens.

Some traders would believe that acquiring with ETFs (Exchange-traded funds) would make it easy for those who want to trade in cryptocurrencies or Bitcoin.

Ever since SEC (Security and Exchange Commission) declined the idea and of several companies got a negative result from it.

Nevertheless, the part of this is still ongoing, we just have to see if SEC either gives it permission or not.

The easy way to predict the situation is that everyone will use crypto as a currency for the payment of their product and some are already accepted by firms and customers.

In the year of 2014, Microsoft has started accepting Bitcoin as a payment for game purchasing.

One of the finest things which makes cryptocurrency different from fiat currency is that it provides low-cost transaction fees. No involvement of the third party which makes less time to make the transaction possible.

John Mcafee, a British businessman, has predicted that by the end of 2020 Bitcoin will hit the mark of $1 million. Although he strongly believes that cryptocurrencies are the most trusted ones.

However, Some other cryptocurrencies are facing some problems like users’ data which are stored in the blockchain can be ransacked by hackers.

To remove this hassle blockchain network is endeavoring on this subject. In general, when the security level has gone a bit far in blockchain then, the centralized firm may endure them.

As long as crypto lovers won’t let that happen because of the fundamental law of cryptocurrency is its decentralization process.

Crypto Gateway

conversely, If we talk about merchants who have online eCommerce stores have remarkably adopted crypto payment service numbers are increasing.

Accepting cryptocurrency will help merchants to grow their business around the globe with the gained trust among the community of merchants and consumers.

Keeping an eye on the top crypto coin like Bitcoin. Ethereum and Litecoin have eventually surmounted the market cap of crypto trading price. While on the other side, new coins are still coming and adding their names in the cryptocurrency list.

In other words, what if some crypto technology brings some of the newest ideas with it? Hypothetically, developers are working on the newest concepts on how to accomplish new things through cryptocurrencies.

Price After Halving

The event which is taking place this year is Bitcoin Halving. The third bitcoin halving, which expected to be occurring in May 2020.

Alex Althausen, CEO of StormGain has said that “My advice is to keep an eye on the Bitcoin Halving in 2020, which can dramatically change the cryptocurrency supply and demand equation.

I believe it will be remembered as a historical milestone for Bitcoin and the entire industry. It could be the turning point that takes Bitcoin from a niche, unstable asset to a mainstream form of payment”.

By shadowing a light on the previous two halvings, the first halving occurred on November 28th, 2012, the time when one BTC was worth around $11.

Exact one year later it acquired $1100 price in 2013. Subsequently, the price fell down and touched the ground worth $220 and it was roaming below $1000 for a few years. 

The second Halving took its place in July 2016. In that time One BTC was worth around $600 maybe a year before when BTC reached an earth-shattering price of $20,000 in December 2017.

While third halving, taking its place and at the beginning of the year BTC had crossed $10,000 first time after it reached 20,000.

Ample of traders and experts expressed what they feel about the Next Halving. Kraken CEO said, “When I hear people talking about bitcoin, I’m thinking $100k, maybe $1m.

Another entity named Anthony Pompliano, co-founder of Morgan Creek Digital Assets, also believes that Bitcoin could reach $100,000 by 2021.

He added that “Supply-Demand economics remain valid, They are a great way to determine the market price. So, if the demand for a fixed-supply asset increases, we continue to see price appreciation.”

It kinda looks appropriate that if someone would predict if bitcoin price would go high or not.

But one thing to confirm that the future of cryptocurrency (bitcoin) will go higher and it may have the efficiency to compete with fiat currency. When it reaches its level or who knows maybe bitcoin will become the capital currency in the future.

If you invest in cryptocurrency or not?

Very graceful time to invest in cryptocurrency. It will benefit you whether you are a merchant or a consumer.

Cryptocurrency is conjointly a digital currency and decentralized. The price of cryptocurrencies plunges over time to time. However, it will increase exponentially too.

As I stated earlier, that bitcoin price jumps from $600 to $20,000. The best advice is that don’t blindly jump on the bitcoin or any other cryptocurrencies always look for a market cap and which investment suits you more and then make steps ahead.

If this volatility risk matters so much to you then, stable coins would be a good choice for investment as they are backed by real dollars.

All the opinions are from traders and analysts are better to understand. You can study them deeply and at the right time become the owner of your own cryptocurrency.

Conclusion 

A journey of cryptocurrency, especially Bitcoin, started in 2009.

Regardless, so many merchants and experts have to debate over the future of cryptocurrency. Despite, getting an issue in this currency.

One thing everyone admits that no matter what happens now cryptocurrencies emerging towards the miraculous performance where it would gain the reinforce and stand at the level of fiat currency.

It may take time but that day won’t be far ahead of us.

Categories
Tutorials

Tether(USDT) API – Accept Tether In Your Website

What Is Tether(USDT)?

Tether belongs to the list where major cryptocurrencies like Bitcoin, ethereum, etc, have listed on the top.

However, tether belongs to the new version of a cryptocurrency called “Stablecoins”. Moreover, this new version is to keep the cryptocurrency value stable in the trade market.

As we are seeing the widespread changes in the prize of major cryptocurrency whereas, the stable coin is an exception to it.

For instance, USDT belongs to the fiat currency category like USD, Euro, or pound which backed every crypto coin in the loop.

However, tether built to fill the mandatory gap between fiat currency and cryptocurrency.

Conversely, it fulfills users’ demand on the low-cost transaction fees, stability of its price, and provides transparency for everything.

Tether launched as RealCoin in July 2014 and rebranded as Tether in November by Tether Ltd. It officially began trading in February 2015.  

According to some sources there between 70 – 80% bitcoin trading is efficiently carried out in tether.

Moreover, stablecoin now becomes a chief source for the cryptocurrency market.

Gateway to accept tether payments

On the contrary, thanks to tether popularity as being a stable coin. Therefore, attention, and trust within the group of retailers who were first insecure as for its acceptance from their customers.

The users who want to accept tether payments in tether (USDT) a decentralized gateway, Coinremitter helps you to accept tether payments in this currency.

In general, it will make the process even simpler with the lowest transaction fees. It also giving other opportunities to retailers if they have their own website.

Coinremitter as the best crypto payment gateway enabling other features like no more hidden charges, 24/7 customer support, transactions/balance history.

Tether (USDT) API for your website 

Those retailers who want to enable the service to accept payments directly within their website then, coinremitter does provide API service so that you can integrate coinremitter plugins and accept payments directly within your website.

The most effective plugin’s like Laravel, CorePHP, and WordPress is the best place in order to integrate. Moreover, merchants can integrate REST API for any programing language.

Choosing coinremitter plugins for your payment in USDT is the ideal choice users ever make.

It is more and more expanding on the global stage as 1.8M cryptocurrency transactions are already completed where USDT is also included in it although, Retailers who own E-Commerce platforms are in the majority who have accepted USDT & other cryptocurrencies. 

Create an account integrate coinremitter plugin and surprise your customers by introducing them to a new USDT payment acceptance service, gain the trust of your customers, and with this service gain new more customers for your business.

Categories
Bitcoin Cryptocurrency Knowledge Tutorials

How Integrating Bitcoin Payment Gateway Benefits Your Online Store

Now accept bitcoin payments is way much easier & quicker than before.

“Bitcoin”, a very much popular name across the globe, has been providing a highly secure and transparent way of transferring currency for several years.

Every day the value of Bitcoin keeps growing. Nowadays, the pace of growth in cryptocurrencies and the adoption of blockchain technology has sparked a revolution in the financial industry, taking the online payment sector to a new dimension.

Giant corporations are currently INVESTING their capital and resources in Bitcoin. So you can estimate the value of Bitcoin.

It becomes common that many small and large businesses around the world have already begun to accept bitcoin payments. 

Now it is time for you to consider accepting bitcoin payments for your business because you have to keep up with the trend.

This will make your presence as you are at the forefront of technological growth, drawing new clients, and keep your business safe from a number of scams.

We know that being an eCommerce merchant you may have a number of questions running on your mind like how can I start accepting BTC payments, will it benefit my business or not, and more. 

Isn’t that the case?

However, we are going to cover all the necessary points that you need to know about your business. You will get a clear understanding of BTC payments and more at the end of this blog!

Down below is our in-depth guide to implementing this new payment system for your online store.

SO, let’s hop into…

What benefits merchants can get from adding the bitcoin payment gateway

Using BTC payments on your website helps you to process lower fees payments and receive payments instantly.

This currency is also ideal for sites involving foreign payments, as it is much quicker than bank transfers from one country to another.

Here are the key benefits that every merchant could get.

1. BTC will expand your customer base:

Integrating cryptocurrency payments into your online store checkout will set you apart from your competitors as well as help attract new customers to your business.

Adding another payment gateway will allow your customers to make a payment through. Ultimately, the customers who prefer to make transactions via cryptocurrencies are more likely to go with the crypto option.

You will notice a significant improvement in your sales.

2. It will eliminate chargebacks:

Transaction through credit/debit cards is reversible. That means the merchants get all of the cardholder’s sensitive information to drag money from the account.

However, this isn’t the case with Bitcoin. Once the funds have been transferred, the party that sent the payment is unable to retrieve the transferred payment without the merchant’s permission.

Every transaction in bitcoin is guarded by the Bitcoin network. That means merchants are able to accept bitcoin payments without having to worry about the threat, fraud, or charges.

3. Provide you the low transaction fees:

Cryptocurrencies are used more often for regular transactions. Merchants may use this to reduce the costs of collecting transactions for their company.

As you already know that Bitcoin is not government regulated. Transactions occur exclusively between the buyer and the seller, so there are no intermediaries who can hold your funds. 

More significantly is the fees for processing BTC payments are lower than credit cards.

4. Offering the utmost security:

Bitcoin uses blockchain technology it means blockchain holds the data and is linked to each other. If anyone tries to change a portion of the chain, the entire chain will be alerted and alarmed. That is the level of security.

Speaking of security, coinremitter, a bitcoin payment gateway provides its merchants with multi-layer security. 

Therefore, there is no longer a chance of identity fraud or any other security concerns when verifying a transaction.

Criteria to consider when choosing a bitcoin payment processor

So, you have made up your mind accepting bitcoin payments on your store. You can promptly begin accepting cryptocurrencies by implementing a bitcoin payment processor into your existing business platform. 

Consider Coinremitter, it works best with the eCommerce platforms. 

But BEFORE integrating any payment processor onto your store you must have to check out the following criteria.

1. The transaction fees:

First and foremost you have to check for the transaction fees charged by the Bitcoin payment processors that you are considering. 

Bitcoin transaction fees are lower than credit card fees. Coinremitter, however, offers only 0.23% which is the lowest among other gateways.

2. Supported plugins & currencies:

It is advisable to check that the Bitcoin payment processor should support the currencies & plugins that your business requires.

Coinremitter provides all the popular open-source plugins, so you don’t have to look for the other options. Nevertheless, it also offers the most renowned & widely used cryptocurrencies that you can integrate into your store.

3. Features:

You should look for the features of a payment processor that you want to install such as security, digital wallet, multi-currency support, currency swap, etc.

Choose what is best suited to your business requirements. Coinremitter comes with all the features that merchants should need in their business.

4. Customer support:

Last but not least, the payment processors should be available to solve your queries 24/7. This is crucial to your company as issues could hamper your sales processing capability.

Must look at what kind of support is there like is there any live chat support? Or do they offer via mail? Consider those criteria prior to making any decision.

Accept bitcoin payments in just 3 steps

To begin the process,

As we talked above, choose the gateway that suits your business needs according to its features, transaction fees, customer support, etc.

Let’s take an example of Coinremitter for your better understanding.

1. Create your bitcoin wallet:

In order to create your bitcoin wallet, you need to have a coinremitter account. To do that, you can simply create your account by filling your details in the signup form and you’re all set.

After you log in to coinremitter, you’ll have to select a Bitcoin (you can even create other coin wallets too) and then have to fill up the details such as wallet name, password, etc.

Your wallet will be created soon after you fill out the details.

2. Get API key & password:

After successfully creating a wallet, you’ll need to have an API key and password in order to start accepting bitcoin payments on your site.

You’ll get the API key on the wallet page by clicking on the bitcoin wallet. You can consider the API Guide for a better idea.

3. Install a bitcoin payment gateway:

The last you have to do is install the coinremitter on your eCommerce platform.

You can integrate it according to your platform, as coinremitter supports well known open-source plugins, but you can still check before you take a step that your platform must be compatible with coinremitter.

Each platform has a different integration process that you can use to better understand the integration process.

Final words:

So, you’ve got the idea of how HELPFUL it is to integrate a bitcoin payment gateway into an eCommerce store.

A nice piece of advice is that you can indicate to your customers that you accept Bitcoin payments. 

Just put a button “Bitcoin Accepted Here” next to your PayPal, MasterCard, Visa which can get the attention of your customers.

Categories
Cryptocurrency Knowledge

Which Cryptocurrencies Have The Lowest Transaction Fees?

The first question that comes to mind when deciding to invest in cryptocurrencies is that which is the lowest transaction fees offering cryptocurrency. It is a very common question that comes in the mind of every investor.

Many crypto options are priced high, while others are not as dramatic. If you want to find something worthwhile you will need to look around to find the cryptocurrency with the lowest transaction fees on the market.

Moreover, there are various types of cryptocurrencies, all of them have their own distinct functionalities.

However, you should know how to find a decent fee that works. Keep in mind that, knowing what works is of crucial importance to your progress.

So, let’s dive in to understand everything about the cryptocurrency with the lowest transaction fees.

What is the actual mean of the transaction fee?

Transaction fees are charged inside a blockchain in the cryptocurrency. The fees go hand in hand with the amount of every currency you transfer.

The fee will vary depending on the current currency rate and how much you are attempting to transfer.

The fees must go forward to guarantee that the blockchain can continue to develop and run properly.

The value of the fee will change depending on how many transactions are going on and how scarce tokens may become in a chain.

List of cryptocurrencies that have the lowest transaction fees on average

The cryptocurrencies that people are able to find today include those that have different fees.

Kindly remember that what the charges are for different currencies, especially as some of those charges have grown late.

Here are some of the cryptocurrencies that offer the lowest transaction fees.

  1. TRON:

Source: https://bitinfocharts.com/comparison/tron-transactionfees.html

The average transaction fee for TRON is around $0.0000901. Although on the TRON chain, an average token is around a penny, the extremely low transaction fee makes it easier for TRON to transfer between parties.

  1. Ripple:

Source: https://blockchair.com/ripple

      The Ripple transaction fee is also on the minimal side, the current average transaction fee of ripple is around 0.00092 XRP, compared with the high fees charged by banks for transboundary payments.

  1. Dash Coin:

Source: https://blockchair.com/dash

      Dash can be used to transfer money to anyone in the world without any intermediary.
As per blockchair.com, the average transaction fee of the dash coin is $0.0030, which is far lower than other cryptocurrencies.

  1. Bitcoin Cash:

Source: https://blockchair.com/bitcoin-cash

The value of the Bitcoin Cash fee is marginal at around average $0.0072, as compared to the currency’s value itself. Although a token is valid for $200 or more, a transaction fee is about 10 cents.

  1. EOS:

Source: https://support.exodus.io/article/1316-eos-about-eos-transaction-fees

Although EOS has a value of about $2.50, handling a transaction costs only a penny. The overall EOS currency makes it worthwhile but one thing about the transaction costs is that there is no EOS available for expenditure.

  1. Bitcoin:

Source: https://blockchair.com/bitcoin

Bitcoin has a high price worth thousands of dollars per token, and a transaction fee is much more than a dollar. As per the current average transaction cost of bitcoin is $2.75.

  1. Ethereum:

Source: https://blockchair.com/ethereum

Ethereum average transaction fee calculates the average USD fee when a miner process and approves an ethereum transaction. The average transaction cost of Ethereum (ETH) is currently $5.8342.

Which parameters to be considered for the cryptocurrencies fees?

The percentage of the fee can be calculated depending on the value of the fee and how much the currency is now worth.

It can be clearly seen that the popular cryptocurrencies have high transaction fees as compared to others on this list. Like Bitcoin and ethereum with the average transaction fees $2.75, and $5.83.

Miners on these networks understand how common these digital currencies are with businesses and customers, so when setting their validation fee, they have some price control.

Moreover, Tron and Ripple are currently offering the lowest transaction fees. The niche focus of Ripple on financial institutions kind of narrow the use of the XRP tokens as a widely accepted currency.

However, Dash and Bitcoin cash are also next to the Ripple, which making them worth the investment by cryptocurrency investors.

How you can grasp the benefits of these cryptocurrencies?

As you have seen the transaction fees, now how you can get the potential benefits from these cryptocurrencies?

Take one step forward and look for the cryptocurrency exchanges. You can choose it according to the lowest transaction fees and the functionalities that suits your business needs.

Categories
Cryptocurrency Knowledge

Which Cryptocurrencies Are Offering The Fastest Transaction Speed?

When it comes to transaction speed, each of us has experienced the fastest transaction speed with fiat currencies. However, with cryptocurrencies, you can’t expect the same.

What does transaction speed mean? 

It refers to the rate at which data transmission occurs from one person’s account to another. Moreover, the transaction speed is deemed high if a transaction gets verified immediately, within the shortest period of time.

If we talk about the current banking systems, then it will be a complete nightmare, because it takes around 4-5 days to validate the transaction. Whilst, the cryptocurrencies have the SOLUTION.

Moreover, the speed of cryptocurrencies varies, many are the slowest ones and yet they are lightning-fast compared with conventional payment portals. 

Let’s take an example, the Bitcoin transaction speed is comparatively slower among the other cryptocurrencies which are insanely faster than Bitcoin.

However, regardless of the amount size, your transaction will be verified within 60 to 85 minutes. Nevertheless, it is still faster than the traditional banking systems that take a few days.

Why is transaction speed important?

The transaction speed does matter because customers come onto the crypto platform with the expectation of fast transactions to get verified within seconds with the highest security from a particular crypto-coin.

However, merchants can list out the cryptocurrencies on their website in order to offer their customers a fast and secure checkout option.

It does not only helps the company to expand but it also extends its reach to many potential customers around the world.

So, every year developers come up with numerous new developments allowing both the speed and transaction cost on the negligible side of the continuum.

Transaction speed straight impacts the transaction cost on a network. For instance, Bitcoin has already mined 85% of its total block, so the mining difficulty is extreme and the fixed block period of 10 minutes makes it one of the most costly networks as per the present day scenario in crypto space.

On the flip side, other altcoins such as ripple have concentrated on offering blazing fast banking solutions, and a transaction time of seconds definitely helps.

Transaction speeds have been so essential for any system that many hard bends in decentralized space have been a cause for this.

List of cryptocurrencies with the fastest transaction speed

The Bitcoin handles around 5-6 transactions per second which are nowhere near to its counterpart “fiat currencies” which handles a few thousand transactions per second with a scale capability of up to 24,000 transactions per second (tps).

However, there are some of the popular cryptocurrencies that are much faster than Bitcoin and manage adequate transactions well enough.

So, here are some of the fastest crypto coins that you can consider, particularly when making payments to other parties. Moreover, faster transaction times eliminate friction from the process and make cryptocurrencies more attractive.

  1. Ripple:
    Capacity: 1500 (TPS) Transactions per second
    Reference link:
    1. https://ripple.com/xrp/
    2. https://blockchair.com/ripple
  2. DogeCoin:
    Capacity: 33 (TPS) Transactions per second
    Reference link:
    1. https://blockchair.com/dogecoin
    2.https://www.reddit.com/r/dogecoin/comments/2vvzqz/how_many_transactions_per_second_can_be_processed/
  3. Dash:
    Capacity: 56 (TPS) Transactions per second
    Reference link:
    1. https://www.dash.org/
    2. https://coinsutra.com/transaction-speeds/
  4. Monero:
    Capacity: 1700 (TPS) Transactions per second
    Reference link:
    1. https://www.daytrading.com/monero
    2. https://www.bitdegree.org/tutorials/zcash-vs-monero/
  5. Ethereum:
    Capacity: 12.91 (TPS) Transactions per second
    Reference Link:
    1. https://blockchair.com/ethereum
    2. https://coinsutra.com/transaction-speeds/
  6. Litecoin:
    Capacity: 56 (TPS) Transactions per second
    Reference Link:
    1. https://bitcoinexchangeguide.com/top-10-cryptocurrencies-with-the-fastest-transaction-speeds/
    2. https://currency.com/what-is-better-litecoin-or-bitcoin
  7. Bitcoin:
    Capacity: 3-4 (TPS) Transactions per second
    Reference Link:
    1. https://en.wikipedia.org/wiki/Bitcoin_scalability_problem
    2. https://www.snapperbuzz.com/blockchain-scalability
  8. Bitcoin Cash:
    Capacity: 116 (TPS) Transactions per second
    Reference Link:
    1. https://coinanalysis.io/how-many-transactions-per-second-bitcoin-cash
  9. Bitcoin SV:
    Capacity: 5 (TPS) Transactions per second
    Reference Link:
    1. https://medium.com/two-hop-ventures/bitcoin-sv-growing-exponentially-likely-to-permanently-overtake-ethereum-in-q1-2020-3747f42729cf
  10. EOS:
    Capacity: 4000 (TPS) Transactions per second
    Reference Link:
    1. https://cointelegraph.com/news/who-scales-it-best-inside-blockchains-ongoing-transactions-per-second-race
    2. https://thenextweb.com/hardfork/2018/11/01/eos-blockchain-benchmark/
  11. Cardano:
    Capacity: 1000 (TPS) Transactions per second
    Reference Link:
    1. https://www.crypto-news-flash.com/cardano-one-million-transactions-per-second-hydra-paper-published/
  12. Stellar:
    Capacity: 1000+ (TPS) Transactions per second
    Reference Link:
    1. https://www.lumenauts.com/blog/how-many-transactions-per-second-can-stellar-process
    2. https://medium.com/lendledger/why-lendledger-is-a-stellar-project-2403724b91d2
  13. TRON:
    Capacity: 2000 (TPS) Transactions per second
    Reference Link:
    1. https://tron.network/
    2. https://en.wikipedia.org/wiki/TRON_(cryptocurrency)

To Sum Up

Cryptocurrencies offer a much faster transaction speed than conventional payment mode.

It offers better security, speed, and convenience. Though, you can choose the cryptocurrency from this list as per your preference.

Listing these crypto coins onto your website, you can offer a secured and fast checkout system to your consumers.

This makes your business sets apart from your competitors.

Categories
Cryptocurrency Knowledge

How Ethereum Helps Financial System to be Decentralized

In recent times, Ethereum has become the most widely known platform based on blockchain technology. Furthermore, its aim is to create an alternative protocol that will create decentralized applications. Ethereum makes highly programmable digital money, allowing distributed users to execute code in the form of smart contracts.

In addition to speculation and value storage, Ethereum allows many aspects of traditional finance to run on open networks, with on- and off-ramps allowing for greater compatibility with fiat currencies, other cryptocurrencies, and conventional resources.

To understand it briefly…

You must have an idea of DeFi (Decentralized finance). Moreover, it is a combination of traditional banking services with decentralized technologies like blockchain.

Many of us now have a well understanding of ethereum, bitcoin, and other cryptocurrencies. However, there are very limited people out there who do not know that it can also be helpful to use it as a decentralized system.

Decentralized finance Ethereum is one of the identities that assisted to make the essence of mainstream open finance.

Ethereum can also be used as a portal for payment, simply implementing the ether payment gateway helps to expand the business and attract potential customers.

What’s the Importance of DeFi?

DeFi continues to play an important role in financial sector development for a variety of reasons. Moreover, the potential for expanding the global economy is huge. 

As a result, analysts see this sector as one of the crypto space’s most important currently under development.

It is easy to recognize that commitment to developing a DeFi ecosystem. Certainly, it is the fastest-growing blockchain sector.

Moreover, since this period depicts the start of this stage of integration, the market now has the unique opportunity to see a completely new industry blossom.

Know the Difference Between Traditional vs Decentralized Finance

Decentralized Finance (DeFi) is just an advanced version of the finance system with the same root of work in obtaining and giving capital.

Here, we’ve outlined some of the major differences:

  1. A centralized governing body manages conventional financial institutions. Moreover, DeFi apps, run on smart contracts, ensuring that dApps operate without any human barrier.
  1. A public blockchain is permitless, that means the ecosystem doesn’t have gatekeepers to keep track of who gets to create dApps and who doesn’t. However, DeFi dApps can be developed and used by anyone.
  1. The dApps is another form of blockchain application used in the DeFi environment, and it has been built from day one to function globally. Regardless of the geographical area to which you belong, the DeFi network and service connectivity are the same.
  1. The app is based on a public blockchain and its code is transparent and open for everyone to see. Moreover, this is in sharp contrast to mainstream financial institutions. Though, in a DeFi ecosystem, everyone can help make the software bug-free & smooth.
  1. The fact that decentralized funding is more open and transparent than conventional finance, is still a factor. Moreover, the lack of entry barriers means anyone with programming skills can participate in building financial services and tools alongside public blockchains.

What Decentralized Applications Offer?

Ethereum dApps communicate with the blockchain to create entirely new ways of quality exchange and collaboration on the network.

Moreover, DeFi users can borrow, lend, exchange, invest, and make payments nowadays without the need to serve as an intermediary for a financial institution. Instead, it replaces the position of financial institutions with decentralized smart contract protocols.

So, let’s understand what are the services that DeFi offers.

Lending:

Crypto holders can lend on decentralized lending platforms to earn additional income via interest charges paid by borrowers on their holdings.

However, this is an enticing option for lenders, as they are able to earn relatively low-risk interest on their current holdings without entrusting their private keys to a centralized third party service.

Here are the dApps that provide the lending facilities.

Investing:

Investment tokens are in accordance with SEC regulations on financial securities. While this module won’t dive into regulation and compliance, the simple thing to understand is that these tokens provide the token holder with an array of financial rights.

Payments:

DeFi payment applications, protocols, and solutions concentrate on developing an open financial ecosystem that addresses institutional requirements as well as underbanked and unbanked populations.

Insurance:

Insurance is a procedure or agreement whereby a company offers compensation assurance for a defined loss, damage, illness, or death in return for a premium payment.

Prediction Markets:

Prediction markets make it easier to exchange event securities. They have been around since the 1990s and are also sometimes referred to as markets for knowledge, futures ideas, and markets for decision making.

Synthetics:

A synthetic is a financial asset that imitates other tools. In other words, any financial instrument’s risk-reward profile can be simulated using a mixture of other financial instruments.

DeFi Dashboards:

It is a Dashboard that assists you to analyze and track all of your Decentralized Finance activity. Furthermore, add an Ethereum address to track! It lets you track your activity across the various dApps that you are using.

Tokenized Securities:

Security tokens are virtual assets that are subject to federal security rules. Moreover, in layman terms, to simply, the intersection between digital assets (tokens) and conventional financial products.

The Bottom Line:

To sum up, this blog comprises every information regarding the role of Ethereum that helps the financial system to be Decentralized. Moreover, DeFi differs from the traditional finance system by providing value, security, and much more. 

At Coinremitter, merchants and every business owner can give the facility to its users by implementing the Ether payment gateway on the website. It helps users to make payments through cryptocurrencies as well as, business owners can get potential consumers from worldwide.

NOTE: 

Coinremitter doesn’t endorse anything. However, it only provides information for the user to better understand the fundamentals of DeFi and dApps.

Investors are advised to check and verify all information on their own.

Categories
Crypto Tutorials

How Do I Choose a Crypto Payment Gateway?

When Bitcoin first released, cryptocurrencies became a popular subject among everyone. Now the crypto payment gateway has been used by millions of people such as business owners, merchants, banks, etc.

Anything that serves quicker, faster, safer, and productive payments will remain a key priority for all businesses.

This is where the crypto payment gateway provider comes into the picture to offer an error-free solution.

The Best Crypto payment gateway promises security, reliability, speed, and lower transaction costs for businesses.

We’ll talk about what criteria you need to consider while choosing a crypto gateway for your business.

Let’s get started…

What is Cryptocurrency Payment Gateway?

The crypto gateways controlled by a decentralized gateway or an ecosystem of blockchains. It is a dynamic platform where more people are willing to accept digital currencies and process crypto payments.

Customers can make a payment by scanning the QR code or sending the crypto payments straight to the wallet address. However, the blockchain platform records all transactions.

Decentralized cryptocurrency gateways ensure that any transaction is encrypted, and nearly impossible for hackers or online fraudsters to modify a payment method.

For instance, coinremitter is a completely functioning global cryptocurrency payment gateway, which provides quality services to merchants, and small/large enterprise owners.

How Crypto Payment Gateway Works?

A cryptocurrency payment gateway has the primary purpose of providing a faster, secure, and hassle-free connection between vendors and consumers for easy transactions with each other.

crypto gateways work the same as the normal payment gateway, but only the difference is that transactions are done in cryptocurrencies.

With a cryptocurrency payment gateway, a customer will pay via a digital wallet, not with a credit/debit card. There will be cryptocurrencies, not fiat currencies such as USD, AUD, CAD, EURO, DINAR, etc.

When it comes to crypto, you can be sure of a proper response in less time, and also optimize transactions at any point.

Consider the Coinremitter which uses a different technology than standard gateways. It doesn’t HOLD any transaction, the received payments will automatically forward to the vendor’s external wallet addresses within the next 60 minutes.

What You Should Consider While Choosing a Crypto Payment Gateway?

It is essential for every business to first understand their business requirements and what kind of features a payment gateway has available, which not only benefits the business but also makes the business presence different from the market.

Here are some factors that you must take into account:

1. Security:

The first thing you need to look for the security of the gateway, the payment gateway you select should be completely safe for you and your customers.

The transactions should be extremely secure and confidential as the transactions happen wallet to the wallet so there will be no third party who can access your information.

As the coinremitter provides an additional two-factor authentication feature to its users that can double the protection.

2. Transaction Fees:

The second thing you need to make sure that the transaction cost should be minimal.

Do research on your own and compare the cost with different crypto gateways and check which one gives you the value for the money. In addition, there should be no hidden costs.

However, the coinremitter offers low transaction costs, which ultimately helps small business owners to take their business globally.

3. Website Integration:

User-friendliness is the most important part of a payment gateway. Choose a gateway that offers merchant-friendly integration with a documentation guide on their website.

Also, consider which crypto coins and open-source plugins they’re providing.

Check the responsiveness of their technical integration teams, which will help you accelerate the integration and start accepting crypto payments immediately.

4. Customer Support:

It is important to really look at the type of support being provided by a gateway. This is essential to your business as issues could hinder your sales processing capacity.

A satisfactory response to your questions is an integral part of what you should expect from a crypto payment provider.

The gateway should provide you the 24/7 customer support help or an immediate response.

5. Functionalities:

The very important part is to check the features. You need to check out all the necessary features that a crypto payment gateway should have.

You can opt according to what goes best with your business needs.

Some of the features that you might need to focus such as currency swap, digital wallet, multi-currency support, low transaction cost, accept major cryptocurrencies, etc.

Coinremitter comes with all those features that the merchants can’t go wrong with.

In Summary

Using the right payment gateway allows you to accept crypto payments smoothly and without any problems.

You will need to make sure it suits the needs of your company, will allow you to accept payments internationally, and will ideally come at a reasonable price.

We’ve made the work easy for you to what should you consider while choosing a crypto payment gateway.

Categories
Knowledge Ripple

Which Banks Use XRP?

This article will address the list of banks that are currently using Ripple XRP Technology.

Considering the recent years, ripple XRP has been able to convince many major financial institutions of the benefits of their payment technologies over conventional bank transfer systems.

Banks follow RippleNet in real-time processing of cross-border payments with end-to-end monitoring and assuredness.

Moreover, the Ripple network provides an Internet protocol, trust ledger, and a native cryptocurrency called XRP, which is distributed as an open-source.

RippleNet, a network in which participants like banks and financial service firms, used a standard interface to streamline transactions, financial contracts, and payments.

The KEY thing which separates Ripple XRP from all the other cryptocurrencies is that it is not just a cryptocurrency but, it is far beyond that.

These are all the popular banks that are implementing xCurrent and other approaches to boost infrastructure for both B2B purchases and their consumers.

However, there are far too many partners of RippleNet which aren’t listed here.

List of Banks Using Ripple’s Technology


1. Standard Chartered Bank – (London, UK)

The Standard Chartered PLC is a global British banking and financial services business headquartered in London, England.

The UK multinational investment bank Standard Chartered, which has made a strategic investment in Ripple. In addition, It is a go-to bank for many regions in Asia, Africa, and the Middle East.

Standard Chartered’s association with Ripple in 2015 when a Proof-of-Concept was released that applied to the protection of invoicing commercial finance.

2. SBI Holdings – (Tokyo, Japan)

Since 2016, SBI securities Inc. has been a longtime partner of Ripple in Japan. SBI has agreements with both Ripple and R3 to streamline instant remittances and cross-border payments.

However, SBI strongly believes in Ripple that led to the founding of SBI Ripple Asia, which aims to increase Ripple’s adoption in Asia.

However, the confirmation and settlement of cross-border transaction payments take almost 3-4 days.

3. American Express – (New York, United States)

The American Express Company provides American multinational financial services.

American Express has operated a successful and celebrated a pilot cross-border program between the USA and UK.

In a matter of seconds, the pilot saw the international transaction done.

4. Royal Bank of Canada – (Toronto, Canada)

The Royal Bank of Canada is a Canadian global financial services corporation. This is Canada’s biggest bank by market capitalization.

This is the largest bank in Canada and operates in over 50 countries. Most specifically, Ripple’s products are one of the first banks to have tested.

In September 2018, a report showed that the bank claims the Ripple and the XRP ledger have reduced banks’ transaction costs by 46 percent.

5. Bank of America – (North Carolina, United States)

The Bank of America Merrill Lynch is an American international investment bank now known as BofA Securities.

It has observed the growth of blockchain and published a Ripple-related proof-of-concept focussing on cross-border solutions.

The PoC clearly says that the solutions offered by Ripple could improve payment tracking, data transfer, and security in payment settlement.

6. Banco Santander – (Boadilla del Monte, Spain)

Banco Santander is a Spanish multinational bank. it has been featured extensively in the press for its comprehensive work with the solutions from Ripple.

In 2018, Santander collaborated with Ripple and also introduced a payment app called One Pay FX, which uses xCurrent to enable rapid transactions between business entities.

However, it recently opened a gateway between the United States and Latin America.

7. Cargills Bank – (Colombo, Sri Lanka)

Cargills Bank Limited is a licensed Sri Lankan commercial bank and, it has domestic and offshore operations.

The bank announced in August 2018 that it would d join the RippleNet to boost its transboundary payment services.

Executives at the company have said they believe the solutions from Ripple can make the service more streamlined and effective.

8. Kotak Mahindra Bank – (Mumbai, India)

Kotak Mahindra Bank is the second-largest bank in the country by market capitalization.

It provides banking products and financial services in the fields of personal finance, investment banking, life insurance, and wealth management to corporate and retail clients.

Ripple, which has already set up an office in Mumbai city and, it has collaborated with the country’s multiple financial institutions. 

Kotak will use the xCurrent to monitor immediate remittance transactions in the region. Moreover, the benefits include prompt cross-border payment settlement, end-to-end monitoring, and decreased time and expense.

9. Royal Bank of Scotland – (Edinburgh, UK)

The Royal Bank of Scotland, along with NatWest and Ulster Bank, is one of NatWest group’s retail banking subsidiaries.

Like several others on this list, as part of its GBP $3.5 billion program, it has produced a proof-of-concept utilizing Ripple’s technology to remodel its technical framework.

Many other names of blockchain and crypto are listed in this PoC, showing the excitement for DLTs it has. Furthermore, as part of this project, it’s partnered with RippleLabs.

10. UBS – (Zürich, Switzerland)

UBS Group AG is a Swiss multinational investment banking and financial services firm, founded and headquartered in Switzerland.

Swiss multinational bank UBS is the world’s leading bank among Swiss banks. However, it controls the world’s largest amount of private wealth including nearly half of the world’s billionaires.

In 2016, UBS developed a research laboratory for blockchain technology to improve cybersecurity and the encryption of client activities. In Addition, it works with Ripple’s technology to build cross-border payment solutions, however, it is still looking at other alternatives.

11. National Bank of Abu Dhabi – (Abu Dhabi, UAE)

The Abu Dhabi National, whose name has since switched to First Abu Dhabi Bank, which is the Middle East and North Africa’s largest bank.

Although, this is the first middle eastern bank that utilizes Ripple for cross-border remittances.

The broad international network makes it especially suitable for using Ripple’s cross-border solutions when it comes to its remittances (at $19 billion per annum).

12. Siam Commercial Bank (Bangkok, Thailand)

The Siam Commercial Bank (SCB) is the biggest commercial bank in Thailand that declared its plan to use the Ripple solutions earlier in 2019.

The particular approach the SCB is focused on is the multi-hop function of Ripple, which allows for frictionless payment settlements on behalf of other financial organizations.

Moreover, it revealed the results of a positive cross-border pilot program, having an international transaction outcome of just one minute.

13. National Bank of Kuwait– (Kuwait City, Kuwait)

The National Bank of Kuwait is the largest financial organization, with branches and subsidiaries such as, in China, Geneva, London, Paris, New York, and several others.

Kuwait’s National Bank, one of Kuwait’s most popular banks, joined RippleNet in mid-2018, saying it’s keen to use Ripple’s innovative tools to provide optimum customer service.

A further significant financial organization in the region, the Kuwait Finance House, has also embraced Ripple’s solutions, having introduced a cross-border remittance program that allows users to make such transactions for the Saudi Riyal.

14. Credit Agricole – (Montrouge, France)

Crédit Agricole Group is the largest cooperative financial institution in the world, also called “la Banque verte” because of its historical ties to agriculture.

Many of the institutions that come under it, particularly along the Swiss border, using Ripple’s solutions to pass payable compensation in Swiss Francs to their French bank accounts.

Credit Agricole also announced at the 2019 Paris Blockchain Conference to introduce a cross-border remittance system with Ripple, and the Swiss regional banks have already tested this.

 

15. Axis Bank – (Mumbai, India)

Axis Bank is the third-largest Indian bank in the private sector, offering a variety of financial services.

The bank announced in 2017 that it would join RippleNet, using the technologies to raise foreign payments.

The bank has also launched a retail customer service to receive payments from the RakBank in the UAE. Also, its corporate customers to receive payments from the Singapore Standard Chartered Bank.

Solutions that Ripple XRP is Providing:

RippleNet now primarily offers three types of solutions. Moreover, it is using the xCurrent solution from RippleNet, banks can process cross-border payments for their clients.

Ripple uses a dynamic conversion technique for the currency which allows Ripple to always give the lowest exchange rate.

Ripple currently recognizes a few fiat currencies such as USD, GBP, etc. Resources such as gold, silver, and a range of common cryptocurrencies, for instance, BTC, LTC, the native cryptocurrency XRP, etc.

If you want to make a transaction through Ripple, you can install coinremitter the crypto payment gateway to send, receive store, exchange Ripple, and other cryptocurrencies.

However, the pace of the transaction is very fast, and it could be done within a minute.

Categories
Tutorials

Integrate XRP Payment Gateway With Coinremitter

Bitcoin, Ethereum, and Ripple are the top three by market cap cryptocurrencies. Adding the XRP payment gateway into your site can
set you apart from the competition.

Why not become the first merchant who provides the XRP Payment solutions to its consumers, which will ultimately benefit both the business and the clients.

However, apart from the first two cryptocurrencies, Ripple is a bit more complex and has much more to bring into the cryptocurrency sector.

Ripple provides a more open platform for understanding and making wise investment decisions on this market. 

A Quick Idea About Ripple (XRP)

Ripple is a platform that acts as a cryptocurrency and a digital payment network as well for financial payments.

XRP is Ripple’s name for the cryptocurrency, much of which is owned by the corporation Ripple. Also, it currently OWNS roughly 60 billion XRP and is willing to sell up to one billion every month.

Ripple’s system has the benefit of consuming fewer resources while allowing for immediate verification without any traffic-directing central authority figures.

Ripple is decentralized but quicker than other blockchain networks, and more secure.

Accept XRP Payments For Your Business

Ripple has rapidly gained attention with consumers and investors all over the world. 

It is an ideal way to send blockchain payments worldwide. Customers can have their XRP payments processed securely and cost-effectively by entering its raising, global network.

Accept XRP purchases on your website, you will able to capitalize on existing trends and take potential customers into consideration.

This will allow you to protect your growth by offering a payment service to set you apart from the competition.

You can create your merchant account fast & easy on Coinremitter and then make your Ripple Wallet. After the initial setup, you will be able to start accepting XRP Payments.

The Benefits of Using Ripple Payments

1. Faster, reliable transactions are just the beginning of what Ripple will start delivering to the market.

2. Unlike with other blockchain networks, Ripple does not rely on one central authority to control and protect its transaction ledger. Confirmations are thus easily and securely accepted.

3. Ripple confirms transactions in less than 4 seconds. Moreover, it processes 10,000+ transactions a second, which is a massive advantage over bitcoin.

4. The Ripple payment is built on a purely peer-to-peer system so users can do transact securely with anyone on the network across the world, without any external source or authority requiring approval.

5. Another great advantage is that the coinremitter crypto payment gateway provides the lowest transaction fees just 0.23% when transacting through Ripple or any other coin.

How Coinremitter Helps Merchants to Integrate XRP Payment Gateway

Merchants can use Coinremitter to integrate XRP payment gateway into their website, allowing users to make fast and secure transactions.

With Coinremitter, merchants can offer their customers XRP and other crypto coins as a payment option. Moreover, its features include the lowest transaction fees, no KYC or ID, currency swap, create the invoice, secure checkout, and more.

Consumers can obtain, store, and send a large variety of virtual currencies like XRP and they’ll get a safe, reliable, and scalable wallet solution from a trustworthy, industry-leading provider of crypto-currency payments.

The integration process is pretty easy. Merchants Just need to install a coinremitter plugin into their website and have to create an XRP wallet on the coinremitter.

However, there’s no limitation related to crypto coins as coinremitter offers the most popular coins such as XRP, Bitcoin, Litecoin, and many.

Create an account today to implement a new payment style that helps your current customers, gains you, new customers. However, it ultimately saves your money and gives you a significant advantage.

What’s The Conclusion?

These are the all advantages and integration of Ripple Payments, that you need to take into consideration.

Reap the benefits by implementing a crypto payment gateway to your site, which ultimately sets your presence apart from the others in the market.

Categories
Knowledge

How to Integrate Ethereum Payment Gateway On Your Website?

A step of opting to go with the Ethereum payment gateway to accept your payments via Ethereum will significantly benefit your company and your customers as well.

As cryptocurrencies become increasingly popular, it’s WORTH considering to accept Ethereum and other digital cryptocurrencies as a form of payment.

BUT how exactly does this help your business and why should you consider integrating an ethereum payment gateway into your website?

Ethereum payment gateway

Ethereum is one of the Altcoins with the most popular to the date. Moreover, the use of that currency will grow exponentially with the growth of network technologies.

It is evolving very rapidly, and its price is rising dynamically. Another great thing is that when transacting through Ethereum, the speed is comparatively faster than Bitcoin.

Companies can easily start accepting ethereum payments by just integrating the ethereum payment gateway on their platform.

This model minimizing the intermediaries, lower transaction costs, along with other benefits, enables this method a sustainable business decision.

Why Accept Ethereum & Other Digital Currencies?

There are plenty of reasons to accept the Ethereum payments into your site and let your customers make payments through cryptocurrencies.

Offering the opportunity to accept Ethereum and other cryptocurrencies to your customers is a perfect way to improve your business and maximize your profits.

Providing cryptocurrency payment solutions will be an additional service for your existing customers. It is the perfect opportunity to attract new clients who want to pay through crypto.

Here are some of the reasons to accept Ethereum payment:

1. Zero Barriers:

Cryptocurrencies developed in such a way that anyone from any part of the world can transfer funds to someone else in another part of the world.

By adding a Coinremitter’s crypto payment gateway on your website, you will be able to receive payment from customers across the globe without any government restrictions.

 

2. Low Rates:

Consumers will have to bear very low, manageable transaction costs. Coinremitter the crypto payment gateway offers the lowest transaction fees in the market, which is just 0.23%. So it’s very affordable and convenient for every consumer around the world.

The reason to integrate coinremitter crypto payment gateway is the transaction cost for cryptocurrencies is far lot cheaper than when you make online transactions using debit or credit cards or using any other mode of payment.

 

3. Faster Transactions:

The transactions in cryptocurrency will accept within seconds or minutes of initiating them. This ensures you’ll receive funds directly for a product or service that a customer pays for.

Unlike any other payment method, coinremitter provides a faster, reliable, and smoother experience when it comes to processing a transaction.

Although, ethereum payments are some of the world’s quickest forms of payment.

 

4. Security:

Have you ever heard of any cryptocurrency being hacked? Probably NO.

There is no chance of cryptocurrencies to get hijacked. The blockchain is used to encrypt cryptocurrency transactions, making it nearly impossible for scams.

How To Integrate Ethereum Payment Gateway On Your Platform?

Implementing an Ethereum payment gateway is not a daunting task.

This could be done through a crypto payment gateway, it is the technology that enables businesses to automate Ethereum and other crypto-monetary payments while speeding up the transaction and removing intermediary needs.

The technology makes highly encrypted, safe payments considerably less costly than traditional online gateways.

Moreover, the method comprises using smart contracts that are used to process and validate payments between the transacting parties.

In addition, smart contracts make transactions more open and enhance. The security procedure, making payments less vulnerable to attacks that encourage both businesses and customers.

Accept Ethereum Payments with Coinremitter Plugin

Coinremitter is the cryptocurrency payment gateway that provides quality services like multi-wallet, currency swap, create an invoice. It Accepts Ethereum and other crypto payments securely at a low cost for Merchants and business clients worldwide.

Coinremitter is already in use with more than 25000 merchants. Moreover, Around 5000+ BTC already processed with regular transactions through Coinremitter.

The MAIN advantage of using a coinremitter is that there is neither a KYC requirement nor ID verification.

Simply install the coinremitter plugin into your platform as the coinremitter supports the most strong plugins such as CorePHP, Laravel, WordPress, and more, with free API support.

To start accepting Ethereum payments, you need to create an Ethereum wallet or any other coin wallet that you want as a payment option on your checkout page.

Coinremitter supports all the popular cryptocurrencies including bitcoin, litecoin, dash, ripple, and more.

The Final Words

In short, your decision to integrate the Ethereum payment gateway would help your business expand exponentially.

As a retailer, it is now easy to embrace cryptocurrencies as a means of payment option with the use of coinremitter the crypto payment gateway.

You can easily install it on your website and start accepting cryptocurrencies as a payment method.

Categories
Tutorials

Coinremitter Opencart Extension Installation Guide

Now it’s easy to install Coinremitter opencart extension into your opencart store. We have created this guide for merchants so they can easily understand the coinremitter integration process on their opencart store.

Requirements for integration

  • For the Integration process of Coinremitter opencart extension, users must require to have Opencart version 3.0+
  • If you don’t have an account on Coinremitter, then make sure to make it one. Signup

Installation of plugin

  • First! Download coinremitter opencart plugin in ocmod from opencart marketplace (downloaded file name will be coinremitter.ocmod.zip)
  • Go to opencart admin left panel -> Extensions -> installer -> click on upload -> select coinremitter.ocmod.zip from your path and upload it.

  • Go to opencart admin left panel -> Extensions -> Extensions -> select ‘Payments’ from “choose the extension type” dropdown. You will see all payment methods extension there. Find ‘Coinremitter’ and click on ‘+’ at the end of the same line to install it.

  • Now, go to opencart admin left panel -> Extensions -> Modification -> click refresh button (top right corner). You will see that ‘coinremitter’ menu will be added at the bottom of your opencart admin left panel.

  • Greate!! Plugin installed in your opencart store, Follow below instructions to configure coinremitter.

Plugin Configuration

  • Go to admin panel left panel -> Extensions -> Extensions -> select ‘payment’ from “choose the extension type” selection. Find ‘Coinremitter’ payment extension and click on the edit button (pencil icon button) at the end of the same line to edit it.
  • On that page, you will find Configuration options.
  • In the ‘Edit Coinremitter’ box, you will see multiple options to fill in.
  • Extension Status. Make sure it is  Enabled.
  • Title  which will display to the user on the checkout page
  • Description option, you can add some notes to tell your customer some meaningful things before the customer makes any step during checkout.
  • Exchange Rate. The default is 1. It is a price multiplier. Let’s say if you set it to 1.10 then price in cryptocurrency will increase by 10%. and for a 5% discount, you can set it 0.95 in this text box.
  • Set Invoice Expiry. It is in minutes. So if you set to value 30 then the created invoice will be expired after 30 minutes.
  • Order status. When Customers successfully make payment using cryptocurrency, the order status will change to this

Create a Wallet

Click Coinremitter menu on the left panel of admin panel

  • You’ll find the Add Wallet button on the top right corner of the page. Click on it.
  • After clicking on the add wallet a new page will appear where you’ll see multiple options like Coin, API key, Password.

  • In the first option of Coin select your coin from which you want to add your crypto wallet.
  • Now go to Coinremitter website and login to your account and get your API key from there. If you find any trouble to get your API key and password then click here to get the idea.
  • Get back to the Opencart coinremitter page and select one of your Coin. Paste API key in the box and fill your Password in the box.
  • Click on the Save on the top right of the page.

How to make Payment

After completing the above steps you can test first order using Test Coin.

  • Now add some product in your cart and navigate to the checkout page. Select Payment Method “Payment With Cryptocurrency”. If you have modified title text in the coinremitter configuration page then it will display as an option here. Click on the continue button

  • Now you can select coin that you want to pay by it. Make sure you have added a wallet in your opencart admin panel. Follow the above guide if you haven’t added a wallet.

  • On the very next moment, the system will automatically create an Invoice which will appear on your screen

  • Copy Payment address from generated invoice and pay the exact amount from another wallet. Once you transfer to this address, it requires enough confirmation to mark the order as paid. It will automatically redirect to the success page once payment is confirmed on the blockchain. And you will see the following screen

  • Congratulations! You have now successfully paid for your product.

Check order details

  • Go to your Admin Panel menu and click on Sales, dropdown opens, and click on Orders.
  • Once you reach the Orders page you will see your multiple orders list. Select one of these orders. Make sure that the order is paid using the coinremitter payment option.
  • Click on the view from one order and you will be redirected to the order view page.
  • Scroll down to Order History. In the History tab, you can see the details about payment in the comment column.

Now you are ready to accept cryptocurrency payment on your opencart website. Don’t forget to remove Test Coin wallet from your admin panel and add another coin wallet other than test coin

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Knowledge

Coinremitter allows enterprises to Integrate with it.

Coinremitter allows retailers to accept crypto payments from every corner of the world through Integrate with it.

There are thousands of little retailers out there who are willing to spread their business across the border nonetheless, goods & service charges, foreign exchanges cost more than their revenue because it’s centralized payment services.

Regardless, coinremitter is a decentralized service that means It ain’t charge more even If someone would do business across the border. This gateway provides the cheapest service, such as 0.23% withdrawal fee, making a wallet through Coinremitter by using individuals websites.

However, coinremitter has the most effective plugin’s like Laravel and CorePHP and WordPress in order to integrate.

Moreover, merchants can integrate REST API for any programing language.

coinremitter’s supported plugins

Coinremitter conjointly accepts mostly crypto coins like Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, Doge, USDT, Dash, etc.

What kind of retailers can Integrate with Coinremitter?

As doing payments online has become more popular nowadays, it will become more sustainable If retailers/merchants of these services start accepting crypto payments.

Firstly, who are owning businesses like furniture, house decorating products, and accepting online payments for this. Online food apps, restaurants who are also accepting online payments, grocery shops also accept crypto coins.

Computer hardware companies, Gaming companies have also big market revenue as if they start accepting payments in crypto coins. Traveling companies who offer products like taxi app, online flight tickets booking can also make gigantic revenue from crypto coins.

People’s basic daily life products like health-related products and beauty and makeup product companies would also take benefits of this.

In conclusion, crypto coins are the next gigantic thing that will hold most of the market revenue. Therefore, it’s a current performance in the market is remarkable however, It will be more profitable If little and big firms will start taking their payments in crypto coins as optional then, the coinremitter always opens for them to Integrate with it.

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Knowledge

Understanding Blockchains and how cryptocurrencies work

What is blockchains?

To understand blockchain technology, a blockchain Is usually known as a group of blocks that are bound to each other by using cryptography. Computer networks can maintain all of these blocks that call peer to peer networks. These networks are either centralized or decentralized.

The main purpose of blockchain technology is to contain information in every block. There is a digital key that protects the block. 

Since the crypto-coins market commands its peak these blockchains are principally used among these markets. Moreover, the decentralized cryptocurrency market means there aren’t many Influences of centralized agencies like banks and central government.

Sometimes to perceive Blockchains may become delicate for folks. However, in exceedingly traditional words centralized agencies open largely Information that might be simply accessible to everyone. 

There are ample crypto payment gateways accepted blockchain technology to send/receive coins, save invoices, and alternative details to store.

What is transaction fees? Or withdrawal fees?

Transaction fees are basically a charge you have to pay if you transfer coins from your wallet to someone else’s wallet.

There are many crypto coins gateways that charge withdrawal fees according to their circumstances. Some of them take charges individually according to multifarious countries also payment gateway like Coinremitter takes only one charge in order to send coins across the border and no matter where that user is from.

In addition, these transaction fees are the main revenue of some gateways. in contrast, it doesn’t apply on other gateways because they have also found other ways to earn more than their revenue.

The individuals are paid to those minors who make transactions possible. Eventually, they paid them from revenue.

However, each and every transaction history will be saved in blockchains whenever users made their transactions within the border or across the border.

Minors can see all these transactions to avoid errors which create resistance when transfers between the process.

What is cryptocurrency wallet? – Where to store crypto coins?

What is the crypto wallet?

A crypto wallet/crypto coin wallet is a function that every crypto coin holder can use to sends/receives coins into their wallet. In addition, it only accepts that one coin in a wallet, which that wallet would make from that coin.

Each wallet holds its private keys and the only owner of that wallet would have accessibility in order to open wallet. It also holds a public address in order to send coins within their wallet.

If someone accidentally deletes their wallet, then all the remaining funds from that deleted wallet will not transfer because users have the full authority about what to do with the wallet.

Moreover, blockchain technology can save all your funds and wallet information securely.

How to accept coins on websites?

The types of services provided by Individuals are subtle sometimes. There may have one route to accept crypto coins within the website is to create a wallet of crypto coins.

Coinremitter provides the simplest way to create a wallet and start accepting or sending coins on individuals’ wallets.

You can click here to see more about how to accept coins in your websites (how to create a wallet on coinremitter)

This is the easiest way by far everyone knows.

How many types of crypto coin wallets are available on the internet?

There are eventually 5 types of cryptocurrency wallets available on the internet.

1) Hardware wallets

2) Paper wallets

3)Desktop wallets 

4)Mobile wallet

5) Web wallets

From the starting of hardware software, this type of wallet is mainly unique because it comes in the form of a USB device that contains an LED screen on it where it displays a kind of native desktop. It cost money but it’s worth it.

Paper wallets are basically not for every cryptocurrency user. In general, it requires some of the high cautions in order to make transactions. On this wallet, your private keys and public address will go to print on a piece of paper yet this may be a good way in order to protect your data. Thus, all private keys are offline while utilizing it.

A desktop wallet is one of the most trustworthy and needlessly, far more superior wallets among these wallets because users have all the rights to operate this wallet including their private keys to keep an eye on every transaction. However, there is one desktop wallet available called coinremitter is the most valuable wallet across all its users.

In today’s world making an online payment through mobile is at its peak. Moreover, mobile wallets are easy to operate this wallet supports Android and iOS so sleekly. Nevertheless, it contains a lot of caution because the security would become less to protect users’ information in order to make the quickest transaction and cut the most time. Therefore, it’s optionable for users.

Web wallets are always connected to the internet and can be simply accessed through web browsers. This wallet also called a hot wallet. These wallets are not for all users so it’s good to maintain a distance from this and stick to the trustworthy wallets.

Categories
Knowledge

Understand the Bitcoin ETFs