Crypto transactions have become the talk of every sector due to its transparency, security, and quick process. Giant brands like Amazon, Microsoft, Wikipedia, Overstock, and much more have started accepting crypto payments from their global consumers. If you’re an entrepreneur planning to expand your business worldwide, accepting cryptocurrency payments through the payment gateway can enhance your consumer experience.
Popular payment service providers like Visa, Mastercard does not support crypto payments. The crypto payment transactions require the mining process to be accomplished, which requires huge computing and workforce. Moreover, the transaction charges can’t be incurred on crypto transactions; hence they could end up in loss.
In this blog, let me guide you through the steps to integrate the crypto payment gateway into the transaction process and the popular crypto payment gateways!
How to accept crypto payments for your business?
If you ask me a quick shot answer, then this is it! All you need to do for accepting crypto payments is completing the KYC processes as per norms!
The KYC process for merchants to accept crypto payments can be categorized into two steps.
Contact Verification
Initially, merchants are prompted for mobile number verification. The code will be sent by the exchange platform to proceed with the process. Once the merchant enters the code and completes the contact verification process, the identity verification is done.
Identity Verification
Identity verification process prompts for the submission of federation issued ID proofs like driving license, passport, utility bills, and other documents. Depending on the exchange platform you choose, the norms may differ.
On completing the KYC process to accept crypto payments from consumers, you must integrate the best crypto payment gateways in your transaction page.
Popular crypto payment gateways
The merchants are attracted by the reduced processing charges and the rapid processing of crypto transactions. Now, that you can embed these popular crypto payment gateways in your payment system!
- Coinbase,
- BitPay,
- Coingate,
- GoCoin,
- Spectrocoin.
You can grab the help of crypto professionals to integrate these gateways to your webpages. To explore more about crypto payments, blockchain, stay tuned with us!
