Cryptocurrencies are gradually becoming mainstream as more people across the globe adopt these digital assets for varied uses. Today, the total crypto market cap is past the $470 billion mark, while the price for one Bitcoin is a cool $16,200 according to metrics site Coingecko. This burgeoning ecosystem has also shifted to a more fundamental-oriented space than in the previous years, where speculation was the major narrative.
A growing number of niches are adopting crypto, such as B2B and B2C ecosystems, where stakeholders leverage digital assets as a means of payment. Innovations within this space are now going up a notch to provide effective networks where the participants can build communication channels with their users or clients. In fact, this is already in play under the CoinsPaid project, which offers its users a crypto payment gateway and business wallet.
The CoinsPaid ecosystem is an example of fundamental innovations that have come up to bridge the gap between traditional markets and crypto. This project features a couple of crypto-focused products that complement each other, giving users a well-rounded experience within one platform. To put it into perspective, let’s delve into how CoinsPaid proposes value in building an effective crypto-fiat solution for both retailers and businesses.
B2B Crypto Payment Efficiency
Despite Bitcoin being around for over a decade, it has been quite challenging to make crypto payments with the same ease as fiat transactions. One of the products offered by CoinsPaid solves this shortcoming by making it possible for B2B ecosystems to transact in crypto seamlessly. Cryptoprocessing by CoinsPaid is an innovation that supports crypto payments in other industries like gaming, e-commerce, leisure and software markets.
CoinsPaid has made leveraging this service simple by offering merchants an API that allows the integration of cryptocurrencies into their payment networks. Once on board, merchants within the CoinsPaid ecosystem can start accepting crypto payments and receive the funds in fiat, while Cryptoprocessing handles the intricacies of conversion. The platform essentially relies on blockchain confirmations and then proceeds to convert the crypto payment to fiat, before it is finally deposited into a merchant’s trading account.
Seamless Crypto-fiat Exchange
Given the nascent nature of crypto, a quick option to convert one’s funds into fiat is something that an effective ecosystem should provide. To this end, CoinsPaid features an OTC Desk and Exchange, which enable users to swap BTC and other digital assets for fiat. This OTC desk targets users that convert large amounts to save them transaction fees. On the other hand, the built-in exchange is more suited for smaller sums.
Businesses and individual users can easily use both the OTC Desk and exchange by CoinsPaid. In fact, it is as straightforward as opening the CoinsPaid website and launching the exchange portal. New users will be prompted to provide their e-mail, name and website information. Upon verification, clients can then enjoy the perks of CoinsPaid’s OTC, which include deep liquidity, low fees, 24/7 support and highly experienced professionals.
Secure Crypto Fund Storage
Given the exposure to malicious attacks, one of the areas that crypto innovators have focused on is the security of the underlying funds. CoinsPaid provides a multi-currency digital wallet that supports over 30 cryptocurrencies and 20 fiat currencies. This ecosystem operates as a B2C service and comes with additional features such as two-factor authentication.
With the CoinsPaid wallet, users can leverage a range of benefits such as instant and free payments, multi-currency support, built-in exchange, bank card support and settings to automate recurring crypto payments. CoinsPaid also offers a security-audited hot wallet for businesses, which base their operations on models that depend on a scalable and secure environment.
Notably, users can track their internal transactions via the CoinsPaid Explorer, which shows real-time activity and supports the 30 crypto assets currently featured within the CoinsPaid ecosystem. Launching this tool is as easy as accessing the CoinsPaid website and clicking on the explorer, where you can find a transaction by either entering the address or transaction ID.
Ripple Effect on Crypto Industry Growth
As with most industries, growth can be attributed to a ripple effect by either the demand or supply side of a particular market. In this case, CoinsPaid plays a fundamental role through its White Label product that is designed to help businesses run their own crypto payment gateways via the CoinsPaid crypto processor.
Notably, CoinsPaid assists with environmental support so clients can focus on business growth. Some of the perks of using the CoinsPaid White Label include technical support, a trustworthy product and exposure to new target audiences via the CoinsPaid partnership. Users can also receive a special offer and have the flexibility to choose the type of crypto service that suits their needs.
Cryptocurrencies are gradually proving that they are here to stay; creating effective ecosystems that link this world with fiat has now taken center stage, although this path has not been short of challenges. Per the current dynamics, only a few innovators have paid attention to the finer details, which in this case is the seamless use of crypto assets. Instead, many players in the market are moving at supersonic speeds to invent solutions ahead of time but are not necessarily focusing on quality and security.
While this strategy has held in crypto’s history, new trends reveal that both institutions and retailers have become more interested in crypto. Therefore, a platform like CoinsPaid is better suited to serve this niche, given that its product portfolio is designed to accommodate all prospective crypto stakeholders. Ideally, platforms like these are where crypto’s adoption is most likely to take off and succeed based on the market’s steadily increasing demand.