CoinPayments – Payment processor that allows merchants to accept Bitcoin and hundreds of altcoins

What Is CoinPayments?

CoinPayments is a Canadian cryptocurrency payment platform that accepts over 65 altcoins at a flat transaction fee of 0.50%. The payment platform is catered towards merchants or anyone who sells their services online.

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In June 2017, CoinPayments made headlines for a bug that allowed thousands of dollars’ worth of Ripple (XRP) to be stolen from other users’ accounts. The issue is still ongoing as we speak. One investor claimed to have lost $700,000 USD worth of Ripple.

Today, CoinPayments integrates with a number of popular shopping carts used by eCommerce stores – including PrestaShop, Woo Commerce, Opencart, and Magento.

Another unique feature of CoinPayments is that you can “pay by name”. Each CoinPayments merchant has an address that looks like $CoinPayments. You send altcoins to that address to pay the merchant.

In addition to working with eCommerce businesses, CoinPayments offers a POS system that can be used to accept payments in person.

Today, CoinPayments claims to be “the first and largest payment processor of over 65 cryptocurrencies.” The platform is used by 234,500 vendors across 182 different countries.

It’s popular among businesses who want to accept cryptocurrencies, but don’t want to go through the process of individually accepting each currency. With CoinPayments, they can accept over 65 popular cryptocurrencies at once.

CoinPayments is a payment processor that allows merchants to accept Bitcoin and hundreds of altcoins in their store through easy to use plugins, APIs and POS interfaces.

Powering

Since 2013, CoinPayments has lead the way for mass adoption of cryptocurrency, innovating a payment solution allowing merchants to accept digital currency payments.

With over 2.2 million users across 182 countries around the world, CoinPayments.net is most comprehensive multi-cryptocurrency platform available online.

CoinPayments got its start back in 2013, when it became the first payment processor to support altcoins. At that time no one else in the industry was offering support for cryptocurrencies outside of Bitcoin, so CoinPayments seized the opportunity to create a multi-currency wallet and payment processing solution. Since then CoinPayments has expanded to support hundreds of different digital currencies and are constantly adding more.

As the CoinPayments userbase started to grow and request new coins, we added support for wallets and conversion, along with some banking options through integrations with third parties around the world. CoinPayments provides a wide variety of innovative services, including cold storage, multi-signature, instant confirmations, plugins for easy integration of payment features and merchant tools, vaulting for long term storage, and many more features to be rolled out in the coming months. Most were created as part of CoinPayments’ constant evolution based on user requests and feedback from the industry.

CoinPayments strives to be at the forefront of the emerging cryptocurrency market by dynamically adapting to changing conditions and staying true to their roots of supporting bitcoin and the many other cryptocurrencies in the market. As CoinPayments continues down this path to the future of finance, they will continue to cultivate this brilliant technology and usher in a new era of decentralized banking.

Accept payments with Bitcoin, Litecoin and other cryptocurrencies

  • Choose to accept over 70 coins or just one
  • Update order payment status automatically once payment is verified
  • Use automatic coin conversion for some cryptocurrencies

CoinPayments Features

  • CoinPayments comes with all of the following features:

BitGo Instant:

  • CoinPayments supports BitGo Instant, which makes bitcoin payments faster than usual.

Secured With BitGo:

  • The CoinPayments hot wallet is secured by BitGo, which means all of the company’s funds are protected by multisig technology.

Vault:

  • You can “Vault” your coins, which means you set a required amount of time before being able to spend them. This locks your coins down securely.

Mobile Apps:

  • Access your account, accept payments in person, and convert coins anywhere using the mobile apps available for Android and iOS.

Fiat Settlements:

  • US-based and Europe-based merchants can have fiat settlements directly to their bank accounts.

Auto Coin Conversion:

  • Some coins are available for auto conversion, so you avoid the hassle of moving funds around on your own.

Point Of Sale (POS):

  • CoinPayments has a simple POS interface that allows you to accept transactions in-person.

Multi-Coin Wallet:

  • Store your coins in a secure online wallet.

CoinPayments Fees And Pricing

CoinPayments has a basic fee structure. Here’s how it works:

  • Incoming Payments: .50%
  • Commercial Deposits (Callback Addresses Created with the CoinPayments API): .50%
  • Wallet Service: Personal deposits are free.
  • Withdrawals: Coin transaction (Tx) fee.

Interestingly, CoinPayments currently subsidizes bitcoin withdrawals for customers, so you pay a flat transaction fee of 0.00020000 instead of the full transaction fee. This only applies to wallet withdrawals and does not apply to payments or commercial items.

You can view additional information about CoinPayments fees on their website.

Accepting coin payments has never been easier!

CoinPayments is a reliable gateway for accepting payments via cryptocurrencies. It supports 70+ coins, including Bitcoin and Litecoin.

The integration supports automatic order status update. Since the coin payments need to be verified before the payment is actually made, this saves a lot of time and trouble to monitor the payment status.

Step into the future of payments with CoinPayments!

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CoinPayments Conclusion

CoinPayments is a popular cryptocurrency payment platform used by merchants around the world. You can accept payments online through the convenient address system, or you can accept payments in-person using the POS system. Mobile apps are also available for iOS and Android.

Obviously, CoinPayments is in a bit of turmoil at the moment due to the recent Ripple hack. However, the company claims to have patched the bug, and they’re working on compensating users as we speak.

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To learn more about CoinPayments, or to start using the payment platform today, visit them online at CoinPayments.net.

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