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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.

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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.

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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.

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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.

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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.

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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
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.