What are cryptocurrency payment gateways?

This article will describe how a cryptocurrency payment gateway works and what fees and charges you will have to pay if you decide to use one.

The operation and uses that can be applied to cryptocurrencies can be challenging for the vast majority of people to understand. However, using a cryptocurrency payment gateway can be a bright idea if you are a computer and programming expert or a new technology enthusiast.

What is a cryptocurrency payment gateway?


One advantage of these payment gateways is that they accept payments in digital currencies and allow you to receive fiat currency in exchange at the time of the transaction.

Cryptocurrency payment gateways function as intermediaries that facilitate transactions between merchants and consumers. But this may contradict the principle for which cryptocurrencies were created to eliminate any intermediation that increases transaction costs.

Despite this, assuming that most people need help understanding or fully trusting cryptocurrencies, cryptocurrency payment gateways offer a reliable solution to take advantage of this new technology’s benefits.

How does it work?


In theory, the way it works is straightforward.

The transaction is executed in a completely transparent manner since the exchange of values is done automatically and without the intervention of any of the parties.

What are the fees to be paid when using a cryptocurrency payment gateway?


Because cryptocurrency payment gateways use their own wallets, they assume the risks implicit in the use of cryptocurrencies as a means of payment and charge small fees that are in addition to the fees paid on the blockchain of the currency being used for the validation of transactions.

Cryptocurrency payment gateways are offered as a tool for both merchants and customers to use cryptocurrencies as a means of payment, helping to make the adoption of digital currencies less traumatic and decreasing reluctance to use them.

There are many cryptocurrency payment gateways available, so you must investigate which one best suits your needs and, above all, which one charges the lowest rates.