Cryptocurrencies are rising in volume and values, even in the decline of the economy. Right now, the world is facing great challenges due to the corona pandemic. The unexpected, negative situation that is faced by the entire world is addressed as “Black Swan” by the experts. In the black swan crises, investors shift their assets to stable investments like gold, crypto coins, and other valuable kinds.
Best cryptocurrency payment gateways like BitPay, CoinBase, Coingate can be integrated into the payment processes to accept multiple crypto coins. In this blog, let’s learn the step-by-step processes to integrate the crypto payment gateway!
A step-by-step guide to integrate cryptocurrency payment gateway
Scrutinize and pick your choice
The first and foremost step is to analyze the market trends and choose the right crypto payment gateway that suits your business plans. You must examine the services, transaction charges, accepted coins, conversion of fiat currencies, and their regulatory norms. You must completely analyze the existing payment gateways and pick the best suited!
Discuss with service providers
On deciding the cryptocurrency payment gateway , you must connect with them and discuss the norms clearly. The customer support team can render you the appropriate information than websites and blogs.
Build the merchant wallet
Your business webpage should have an integrated merchant wallet to accept crypto coins. The payment service provider prompts for the sign up of the user account with an integrated wallet. On registering as an authorized merchant, you can accept the crypto payments from consumers.
Pick the list of currencies.
The crypto payment service providers afford a list of crypto coins that can be selected for payment transactions. You can select the entire list or only the popular cryptocurrencies based on your delight. In addition, the crypto payment gateways allow you to choose from the withdrawal options such as fiat or cryptocurrencies.
The crypto payment gateways offer public, private keys and QR code for merchant wallets. You can integrate this information into your POS payment systems. This information can also be through plugins in e-commerce channels.
Accepting multiple payment methods can expand your business across the globe. You must manage your portfolio in a user-friendly manner to reconcile the reports. Pick the user-friendly, intuitive accounting software to consolidate the payment transactions!