New payment gateways integrations: Coinify and CoinGate
Digital currencies, especially bitcoin despite all controversies around it, are becoming more and more popular. There’s a growing number of online businesses accepting various virtual currencies. Digital currencies are valued for the convenience, ease of use and innovation. And as at HostBill innovation is one our our key goals, we’re happy to introduce two new payment gateways integrated with HostBill that will allow you to accept bitcoin and other digital currencies payments: Coinfy and CoinGate.
Coinify is an established global virtual currency player actively offering solutions in Europe, Asia and other regions. The company was incorporated in 2014 and is backed by SEED Capital Denmark, SEB Venture Capital and Accelerace.
Coinify offers both blockchain currency trading and payment processing services: individuals can buy and sell blockchain currencies; and merchants can accept blockchain payments in 16 currencies, including bitcoin, with payouts received in the local currency ensuring the protection of value. Unlike most credit card payment services, you do not need to wait until the end of the month to get paid – the payment is received the following working day.
CoinGate’s specialty is software solutions that give an extremely easy way for online businesses and retail shops to accept payments in the digital currencies: bitcoin and altcoins. Coingate makes accepting bitcoin payments extremely easy thanks to offering businesses an option to get paid in Euros or U.S. Dollars, instead of having to deal with bitcoins. The company also prides itself in rapid payment processing and low fees – 1% of each order.
How does bitcoin payments work?
If you want to sell an item for $100 using one of the payment gateways mentioned above, the amount is converted to a digital currency such as bitcoin, and the customer can pay using wallet of their choice. You can receive the payout either in your local currency (US Dollar, Euro etc) or in bitcoin. All bitcoin transaction are irreversible and final. Thanks to this, you have 100% guarantee that the money you received will not be charged back, so it gives you the security to accept payments from any country in the world.