CoinGate is a cryptocurrency payment processor that facilitates the transfer of funds between two parties. This service can be used for both fiat and cryptocurrencies, but it’s most popular among merchants who accept bitcoin payments.
The coingate reddit is a popular subreddit that discusses all things related to the CoinGate payment processor. It has more than 400,000 subscribers and has been online since 2016.
If you’re an online merchant that wants to take digital money like Bitcoin as a method of payment, you should seriously consider utilizing a blockchain payment gateway. One of the businesses that may offer this kind of service is CoinGate. But are they genuine, and can they be relied upon? Continue reading this CoinGate review to get a complete understanding of how the platform operates.
WHAT EXACTLY IS COINGATE?
CoinGate is a Bitcoin Payment Processor (BPP) that acts as an online digital currency platform for businesses and individuals, allowing them to accept Bitcoin and over 50 other alternative cryptocurrencies, such as Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Dash, and others, as payment for their products through online and traditional POS options. Individuals and businesses may also exchange Bitcoin on the digital currency market.
CoinGate was established in 2014 and officially launched in early 2015. It was founded in Vilnium, Lithuania, and now has more than 4,500 commercial customers and 80,000 registered users. It also offers a variety of payment methods.
CoinGate is a simple online marketplace that also accepts payments. Merchants register, advertise, and sell their goods in exchange for Bitcoin, fiat currency, and other digital currencies that are supported. Users create an account in order to purchase goods online and pay using digital currency through the different payment methods offered. Furthermore, as a marketplace, it allows Bitcoin trading at the best price on the digital currency market when compared to rates provided by different exchanges. As a result, crypto traders may use CoinGate to purchase and sell Bitcoin, and they can conduct transactions exactly like they would on a traditional exchange, all while benefiting from CoinGate’s safe and secure environment.
CoinGate provides Bitcoin POS, widgets, and plugins for online shopping carts such as Magento, WooCommerce, OpenCart, VirtueMart, and others to help companies prepare for the future. They also provide Points of Sale for Bitcoin applications for Android and iOS, which provide consumers with a seamless mobile purchasing experience and businesses with quicker and safer payment processing.
Advantages of CoinGate
According to a CoinGate evaluation of its features, the company processes Bitcoin payments instantly and smoothly, and all payouts are transferred to merchant accounts without any deductions other than the processing charge.
Payments may be made in Euros, US Dollars, USDT, or Bitcoin.
CoinGate also does an automated fiat/crypto-to-crypto conversion, allowing Bitcoin payments to be automatically converted to EUR/USD. Also, if a merchant prefers Bitcoin payments but has a client/customer who prefers Ethereum or Dash, CoinGate simply accepts the Ethereum or Dash payment and automatically processes and converts it to Bitcoin, which the selling merchant prefers, before depositing the converted Bitcoin into the merchant’s account.
Bitcoin and other currency prices are continuously compared to those of other exchanges and updated in real time, allowing CoinGate merchants, traders, and customers to pay the least amount of money feasible.
CoinGate protects its merchants by guaranteeing that payments are irreversible, that client privacy is protected, and that costs are minimal.
Fees for CoinGate
Regarding CoinGate’s fees, no fees are charged on Bitcoin withdrawals; however, fees are charged on advcash, SEPA, Skrill, and International Bank withdrawals, which are all handled by third parties.
CoinGate charges a fixed fee of 1% for payment processing for CoinGate businesses. There are no one-time or recurring costs, and no one-time or recurring fees are levied to customers.
CoinGate imposes a fixed fee of 3% on all buying and selling transactions performed on the platform.
Third-party partners such as Skrill, Neteller, credit/debit card issuers, and others impose additional purchasing fees.
Features of the CoinGate BPP
Following is a detailed CoinGate evaluation of some of its key features:
- Bitcoin Point of Sale
- Plugins for E-commerce
- API for Bitcoin Payments
- Buttons for Making Payments
- Accepts over 50 different cryptocurrencies.
- Conversion to EUR/USD in a flash
- Integration with ShapeShift.io
- Adaptive Integration
- 3% commission on purchases and sales
- Withdrawal for 24 hours
- 2FA with Google Authenticator provides the highest degree of security.
- Encryption of documents.
Program for Affiliates
CoinGate offers referral connections that enable you to earn 1% of the fees paid by traders who sign up via your link. Customers who are referred will pay 0.5-1 percent less than the normal 3 percent. Referrers will be compensated as a percentage of the total payments made by the recommended client.
Achievements in CoinGate
A CoinGate assessment would be incomplete if it didn’t include a couple of its accomplishments. Since its start, CoinGate has continued to develop, innovate, and expand.
It had 100,000 paid orders, $70 million in processed payments, and over 3,000 merchants in 2017.
It received over 300,000 paid orders in 2018, 50,000 new users registered, LTC, ETH, and ERC20 tokens were supported and accepted as a form of payment, Skrill, Neteller, and Klarna were added as new payment options, new DJ-classified payment plugins were added, and it also became a Lightning Network to enable seamless and fast payment processing.
CoinGate also won the “Rising Star” award and the “Great User Experience” award from FinancesOnline in 2016 and 2017.
Alternatives to CoinGate
BitPay, 2Checkout, Stripe, SecurionPay, Paysafe, Cayan, and Splash are rivals of CoinGate in the market/industry, and they include BitPay, 2Checkout, Stripe, SecurionPay, Paysafe, Cayan, and Splash.
You may opt to get frequent updates from CoinGate’s ever-active blog or visit the company’s live website for additional news, information, and to register.
Review of CoinGate
CoinGate is a fantastic Fintech firm that is constantly expanding. With CoinGate, you can buy, sell, and trade digital currencies in a safe and secure environment, with real-time price updates and smooth automated payment processing at low and reasonable costs. You also have the option of offering goods (wares and services) and receiving money, or receiving products and simply paying for them, all using your chosen payment method. CoinGate is an online marketplace for crypto dealers and online small and medium company owners.
- Fees for Trade
- High-quality security
- More than 50 cryptocurrencies are supported.
- Several payment methods are available.
- Prices are updated in real time.
- On the CoinGate blog, there are regular news updates.
- Customer assistance is available 24 hours a day, 7 days a week, 365 days a
- Not every currency is accepted.
- There is no option for a free trial.
The coingate supported countries is a cryptocurrency payment processor that has been examined by the CoinGate Review. It provides services to users in more than 250 countries.
Frequently Asked Questions
Can you trust CoinGate?
I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer.
How do you check a CoinGate?
To check a CoinGate, you would go to https://coingate.com and enter the code that is on your CoinGate.
Does CoinGate work in USA?
Yes, CoinGate has been working in the United States since April 2018.
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