Coingate – Definition, Pros ,Cons,Working And Safety

Coingate Is What, And Why Do Customers Use It?

CoinGate was founded in 2014 by Dmitryus Borisenka, Jonas Giles, and Irmantas Bacillus. Since then, CoinGate’s permission-based account management, fiat expenditures to bank accounts, and new email billing features have made it the payment processor of choice for many customers.

CoinGate offers not only trading services but also a platform to buy and sell multiple crypto assets with one payment. In fact, CoinGate has been labelled as a crypto payment processor, trading platform, and gift card merchant all in one.

By providing multiple options to set up crypto payments for any online or physical business, the company is bringing cryptocurrencies closer to mainstream use. but, Payment buttons, web-based POS applications, API connectivity, and official plugins for the largest e-commerce platforms are options.

Because customers using CoinGate can make purchases with credit/debit cards, SEPA bank transfers, or mobile funds, they can sell their coins for fiat currency. Additionally. Any CoinGate merchant with the option to convert to fiat currency can now accept more than 70 cryptocurrencies through the company.

Coingate Features And Products

Accept crypto payments (for e-commerce platforms)

CoinGate’s built-in features allow retailers to accept crypto payments in Bitcoin, Ethereum, and Litecoin, among many other cryptocurrencies.

In addition, merchants can also benefit from a fully integrated and customizable platform that creates a crypto payment infrastructure to track orders and manage their crypto earnings.

Plus, the quick sign-up process means customers can get started in no time, take advantage of a wide range of tools, and enjoy an easy-to-use interface.

Below are some of the compensations for accepting cryptocurrency payments over traditional payment methods through CoinGate:

low fees;

Irrevocable Payments;

microtransactions;

Unmatched customer privacy;

Also, More prospects.

How Does It Work?

Once users choose the CoinGate option, they are presented with the option of several different cryptocurrencies. The merchant then creates a cryptocurrency invoice for payment, and CoinGate makes a payment invoice for the merchant. CoinGate then computes the price of the goods in the buyer’s chosen cryptocurrency and provides the consumer with a payment window.

Once the merchant receives their payment in crypto, CoinGate collects the earnings from the merchant and transfers them to them in euros, bitcoin, or any other reinforced numerical currency.

The ability to accept crypto expenditures and trade as a business is available to anyone who creates a trading account.Also,  A business can fully integrate into the crypto space by becoming a cryptocurrency payment processor.

Description

The easiest and wildest way to accept Bitcoin, Litecoin, Ethereum, Doge and other cryptocurrencies. Receive payments in Bitcoin and other cryptocurrencies, euros or US dollars, with no exchange rate risk! Manufactured by CoinGate.com

Payment Gateway With Coin Gate Cryptocurrency For Woo Commerce

Start tolerant Bitcoin and other cryptocurrencies in no time! Our official WooCommerce module attaches your store with our fully automated cryptocurrency processing platform and billing system, giving you access to the fast-growing blockchain market.

With CoinGate, online businesses can easily accept Bitcoin, Litecoin, Ethereum, and Doge, as well as 70 other digital currencies (altcoins). And  Payments received from customers can be instantly rehabilitated to fiat, and you can receive payments in euros and US dollars directly to your bank account. Alternatively, merchants can get paid in Bitcoin and other cryptocurrencies like Ethereum, Ripple, and more!

Start Accepting Bitcoin In Minutes!

The extension allows stores using the WordPress WooCommerce shopping cart system to accept bitcoin and altcoin payments through the CoinGate API. Integrating and configuring our WooCommerce module is very easy, while the solution you get is fully automated: you get automatic payment confirmations and order status updates.

To learn more about the benefits of cryptocurrencies for your business, as well as the solution that CoinGate offers, visit our website.

Features

The gateway is fully automatic: set it and forget it.

The payment amount is intend using actual exchange rates.

Ease for you, flexibility for your customers. On our demands, a customer can choose to pay with Bitcoin, Litecoin, Lightning Network, Ethereum and more than 70 other cryptocurrencies, while their payments are made in a single currency of their choice: EUR/USD BTC or other cryptocurrencies.

Sandbox environment for tests with Tesnet Bitcoin.

No setup or recurring fees.

No chargebacks, guaranteed!

tading options 

FUNCTIONALITY

Extend the expiration time of your bill (if withdrawals are make in BTC).

Automatically accept small underpayments.

Refunds can be issue straight from the invoice without the seller’s involvement.

How It Works – Example

An item in the store costs 100 euros.

A patron wants to buy the item and decides to pay with Bitcoin.

An invoice is create, and according to the current exchange rate, the price is 50,000 euros per bitcoin, so the customer has to pay 0.002 bitcoins.

Once the invoice pay, the merchant will receive a notification and be credit €99 (€100 minus our 1% flat fee) or 0.00198 BTC.

Is Coingate Safe?

The company has developed and implemented state-of-the-art software to ensure strict anti-money laundering (AML) and countering the financing of terrorism (CTF) compliance in line with EU and local laws and industry best practices.

Additionally, implementing 2-factor authentication (2FA), for example, is a solid way to secure access to crypto platforms and is extensively use. It stops unauthorized access to your account by asking you to enter a passcode that will be send to your phone.

Last but not least. The company safely keeps most of the coins in cold storage to prevent online hackers’ digital assets from  stole.

Moreover, CoinGate has never faced any hacks, monetary loss or data leakage since its inception.

Coingate Pros And Cons

Advantages

Merchant support: over 100 countries and 50 currencies for merchants are accept through its unique service;

Security: With two-factor authentication and the use of cold storage, security is a high priority;

24/7 customer support: users can interaction customer support via email or submit a support request to the company’s ticketing system;

Coins: CoinGate offers 70 cryptocurrencies, all of which can be exchange for fiat;

Generous Referral Program: For every purchase or sale made by a referred user, CoinGate rewards the referrer 1%;

Buy cryptocurrency promptly: with a credit/debit card or via a SWIFT/SEPA worldwide fiat transfer;

Product variety: crypto payment solution, buying and selling crypto, and assisting in buying and sending gift cards;

Customer Attention: CoinGate supports crypto merchants, but businesses also have the choice to use payment buttons

Web-based POS software, API influences and official plugins for the major online shopping platforms;

Disadvantages

Deposits: The platform does not support cryptocurrency deposits;

Idioms: English and Spanish are the only languages ​​support by the platform.

And Users can request adding a new language by contacting customer service.

in conclusion Wallet: No CoinGate wallet available.