Cryptocurrencies have become more widespread in the 21st century. That boomed the number of crypto payment processors. But what instrument is the best for the operations? Enjoy reading this article to find answers to this question.
What is it, and how the gateway works
Any crypto payment processor is the same gateway sharing principles as the bank acquiring. But the crypto processor is better because it accepts cryptocurrencies and national currencies. This option simplifies trading. The companies give their customers the chance to diversify their billing options. Besides, it’s a great opportunity to accept them if you don’t trust them.
The payment flow is as follows:
- The customer releases the cryptocurrency payment in your favor anywhere. The processor reserves the required amount of money in its transit account.
- This operation is held referring to the current cryptocurrency value in the market.
- The processor checks the reserves in the selected national or fiat currency and converts the sum.
- The final step is debiting the money in your account.
This process is transparent. The business owner doesn’t touch the cryptocurrency at all. However, studying the current legislative base is essential because some countries ban digital operations or limit them. Money is accessible 24/7/365 for withdrawal or operational purposes. The reverse scheme is also possible.
Free or paid – what to choose
Both systems are trustworthy, but there are risks of getting problems or not seeing the expected money as the service disappears. Free services are usually trial variations of popular payment systems. Users can use them, but there are limits on time or amounts available. Our advice is to deploy the free payment processor for the first time and then subscribe to the pay-per-use model.
The best free offers
Prodoge is open source crypto payment gateway. It’s free to use and offers multiple options like cryptocurrencies, card payments, and operations between these categories. Registered businesses exchange invoices, sell goods in 200+ countries on the marketplace, etc. It works on all popular platforms, including server environments.
Exscudo is the perspective processor from Estonia. This country is loyal to digital payments. It has three options for the users: Fintap is something like a stock exchange allowing the users to buy new and fiat currencies with one click. EON blockchain system is the educational platform providing videos and graphics dedicated to progressive technology. Cryptoacquiring is the hybrid of traditional acquiring dominating the worldwide banking system and modern cryptocurrencies.
SHkeeper is number 3 in our ranking. However, it gets significant potential due to open source code. That means the operator downloads the code from GitHub and sets it according to the requirements. It’s a pity that such respected systems like SourceForge undervalued it. The provider has some advanced features available for everybody, like increased privacy. Easy additions and open code simplify functionality management.
