All you Need to Know About Crypto Payment Gateways
Finance

All you Need to Know About Crypto Payment Gateways 

Cryptocurrencies have been around for more than a decade now. The invention of digital currency was a revolutionary idea on its own. The goal was to establish a lightning fast payment network for transactions which would overcome the shortcomings of the traditional payment methods. Just like any other digital revolution, this idea was implemented by the business world first before anyone else. Thus, many big and small brands came together to become the early adopters of cryptocurrency by accepting crypto as a means of payment from their clients. As we move closer towards the adoption of crypto as a payment method on a global level, this write-up will be an insightful read for everyone. 

Benefits of Using Crypto Payment Gateways 

Crypto payment gateways are established in order to get rid of the problems that we face while making and receiving payments with a traditional fiat to crypto payment processor. The payment processing done through a crypto payment gateway is way more secure and smoother when it comes to business transactions. So let’s have a look at the benefits you can avail while choosing a crypto payment gateway over a traditional payment gateway. 

  • Faster Processing of Payments: The speed with which payments are processed on a block chain is impossible to attain with a traditional online payment gateway. The lightning fast payment network will solve most of the problems that we face due to delayed processing of payments. Payments will be sent and received instantly which is a major reason why many are preferring crypto payment gateways over traditional payment methods. 
  • More Secure and Safe: Cryptography in itself provides an added layer of security. And all crypto transactions take place within a secure block chain system. So the chances of hack and theft or third party interference is very low compared to traditional payment gateways. Anonymous nature of crypto transactions make sure to protect the privacy of both payer and payee without disclosing any sensitive personal information.

  • Lower Fees: One major advantage that you can avail by relying on a cryptocurrency gateway is the lower transaction fees. This applies to both payer and payee. Especially for businesses with a large number of clients the credit card processing fee can go up to 3.5% which adds up to the burden of cost. But crypto transactions are processed at a fee less than 1% by certain payment gateways. Also the added fees in case of cross national payments can be avoided by opting for crypto as a mode of payment. 

In a nutshell, crypto payment gateways are superior to traditional payment systems in many aspects. They are secure, faster and cost-effective for everyone alike. This is the reason which made many global businesses add crypto payment methods to their websites. It turned out to be an attractive alternative for many clients. 

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