Crypto Wallet

CoinGate Wallet – Detailed Review of Safe and Secure Bitcoin Wallet

As Bitcoin is steadily establishing its presence in modern commerce both online and offline, it is not surprising that many people are now investing in it and in other virtual currencies. With CoinGate, traders can buy and sell Bitcoin, allowing them to perform trades in the cryptocurrency market within a safe and secure environment.

CoinGate Wallet Review

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About CoinGate:

Jonas Gilys, Dmitrijus Borisenka, Irmantas Baciulis founded the CoinGate company in 2014 with its headquarters in Vilnius, Lithuania.

It provides a terrific platform for software solutions, which gives extremely feasible way for online businesses as well as retail shops to develop the transaction with the digital currency Bitcoin.

It offers integrations with e-commerce shopping carts, a strong and utterly customizable CoinGATE API, payment buttons for those hunting simplicity, and retail POS apps for iOS and Android.

Literally, it would be a hassle to accept Bitcoin with CoinGate, because they offer the business an option to get paid in Euros or U.S. Dollars, instead of having to deal with Bitcoins.

Essentially, they eliminate all kind of risk that is associated with Bitcoin- market rate volatility, and spending bitcoin more than one.

Users can be able to buy Bitcoins from CoinGate by utilizing bank transfer. Likewise, credit and debit cards, and mobile balance, or sell their Bitcoin to CoinGate.

The processing fee is minimal that is 1% of the Bitcoin orders. For example, your customers pay 100 EUR worth of Bitcoins for any product in your shop. Then you receive 99 EUR directly to your bank account.

How CoinGate Works?

The following steps educate how you can accept Bitcoin Payment on any store.

Step 1

Suppose, you wish to sell a product or service in your store and you decide the price of that product or service in a currency of your choice (for example 10€).

 

Step 2

The company determines how much Bitcoins it is worth. Therefore, by choosing a suitable price from different Bitcoin exchanges.

Step 3

Your customer pays with Bitcoins and Altcoins.

Step 4

At last, you receive €9.90 (€10-1% processing fee).

CoinGate Integration

  1. Bitcoin Point of Sale App

From your CoinGate Android and iOS mobile device app, you can accept Bitcoin payment, which is most useful for businesses. Therefore, this can be done with the help of the Bitcoin Point of Sale App installed on your mobile devices. It is also accessed from any device with internet connectivity directly in a web browser.

  1. E-commerce plugins

E-commerce shopping cart platform allows you to incorporate Bitcoin payments smoothly into your active online store

  • WooCommerce CoinGate Plugin

  This plugin allows you to accept the Bitcoin and Altcoin on your WooCommerce store.

  • Magento CoinGate Plugin

  Magento CoinGate Plugin offers you to accept Bitcoin and Altcoin.

  • OpenCart CoinGate Plugin

  Obtain Bitcoin and Altcoin on your OpenCart CoinGate Plugin

  • PrestaShop CoinGate Plugin

  PrestaShop CoinGate Plugin provides space to allow the Bitcoin and Altcoin.

  • Magento2 CoinGate Plugin

  • osCommerce CoinGate Plugin

You can sign up for an account at https://coingate.com for production and https://sadbox.coingate.com for a testing environment.

  •  VirtueMart CoinGate Plugin

This plugin accepts Bitcoin as well as Altcoin on your VirtueMart store.

  • WHMCS CoinGate Plugin

Thus, this plugin accepts Bitcoin and Altcoin on your WHMCS store.

  • ZenCart CoinGate Plugin

You can register for an account at https://coingate.com for production.

  •  CoinGate Bitcoin Payment API

CoinGate Payment API provides you to integrate as well as accept payments on any online store with more customization.

Benefits of Accepting Bitcoin Payments

  • Inevitable Payments

Since it is inevitable by design for the Bitcoin Payment. This means that you can able to receive payments from any country. However, it is assured that the money you obtained will not be charged.

  • Customer Privacy

Bitcoin payments build confidence among person while payment, so there is not essential to collect private information about your customers to accept their payments.

  • Lower Fees

The platform allows you to accept payment for 1% from the transaction compared to other credit card company generally charges up to 3% of the transaction amount, and even they include an additional charge.

  • Additional Customers

Companies accepting Bitcoin Payments are backing to the people who are making a transaction of digital currency Bitcoin. However, this tends to appeal new customers and to boost your sales.

Withdrawal Platforms

  • SEPA

 However, this method is used to withdraw EUR. Your bank may collect fees for receiving payments. Henceforth, for   more knowledge about fees, you can contact banks

  • International bank

You can withdraw EUR and USD through this platform. However, only thing is you have to pay all transaction fees.

  • MoneyPolo

1% of transaction fee will be charged for withdrawal amount. Therefore, using this method you can withdraw EUR and USD.

  • PayPal

 You have to pay all the transaction fees for withdrawal amount. Thus, you can withdraw EUR and USD using this method.

  • Bitcoin

You can withdraw BTC using this method and the company will pay the Bitcoin network transaction fee.

Bitcoin Payment Buttons

Hence, this will allow you to accept donations and different payments in Bitcoin and Altcoin

Button Types

  • Fixed Price

It has a fixed certain amount that must be paid when the button is tapped.

  • Slider

This will display minimum and maximum amounts. When the button is tapped, there is a   slider which provides the user to choose the required amount they want to pay.

List

It will display several amounts as shown in the screenshot. The user can choose the amount they want to pay from the list when the button is clicked.

Referral System

You can receive 1% of the fees when traders will sign up using your link. Hence, no verification is essential to create referral links.

CoinGate Security

  • More importantly, all the Bitcoins are stored in the Cold Storage.
  • They create the withdrawal immediately as well as operate it within 24 hours after obtaining the payment for the exchange of Bitcoins
  • Using Google Authenticator, you can secure your account with 2FA.
  • All the documents uploaded will be coded in an encrypted format.

Fix your prices in currencies

You have rights to fix the prices of your products as well as services in the appropriate currencies.

Remember, you can receive payouts only in Euros, US Dollars, and Bitcoin. However, if the prices are of different currency then it will be converted to Euros or US Dollars.

Hence, this is possible only comparing the table required for conversion of currencies provided in the below link.

Conclusion

With its gateway, CoinGate offers some added-value features that other payment processors lack.  CoinGate is easily a great choice even compared to market leaders.

What do you think of this CoinGate review? Let us know through our social media pages.

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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