Everything about Bitcoin Payments via CoinGate – Steps And Benefits

Bitcoin Payments via CoinGate

Any business whether small or big accepts that secure payment plays a vital role in brand value, customer trust, and business expansion. Cryptocurrency has become an important means to engage potential customers on the same platform. It is undoubtedly a popular means to make a purchase. It needs a secure gateway to make digital payments and Bitcoin Payments via CoinGate have become highly popular among the global marketplace with fewer efforts.

Bitcoin is a popular cryptocurrency when it is about providing your brand the wings to fly. Businesses have always faced challenges in implementing secure payments to make a stronger bond with customers. Modern consumers use cell phones, tablets, and similar devices to buy online and make digital payments. Businesses can integrate Bitcoin to bring a sort of transparency within payment services directly becoming a noticeable brand. If you own a business, you can move your business to the next level just by empowering it with minimum customization.

Introduction to Bitcoin Payments via CoinGate

Running an E-commerce store needs Cryptocurrency Payments and for that Magento 2 Bitcoin Integrations is the best service. It makes it simple and convenient for your brand and your customers. With a smooth integration of the Magento 2 extension in your store’s checkout, customers can securely pay for your goods and services with Bitcoin.

For businesses accepting coins is simple, convenient, and risk-free, with fully automated payment methods and invoice systems. With the CoinGate payment gateway, vendors can receive real-time settlements, and payments are made directly to the bank account.

This way E-commerce business is free from any online threats, price volatility risk, and can enjoy fixed payouts. In addition, the store owners can receive payouts in Bitcoin without any verification process.

What is the Pricing of CoinGate payment extension?

CoinGate payment extension is free to download for your E-commerce store. There are no setup charges, and testing of the gateway is also free of charge. It is advised to hire Magento developer for streamlined setup and smooth working. Once a payment is successfully processed a flat fee of 1.3% is received from CoinGate. To be able to use the plugin create an account on https://coingate.com

  • 1.3% fee for processed orders.
  • Free payouts in Bitcoin, Litecoin, Ether.
  • Free EU SEPA transfers.
  • No setup or recurring fees.
  • No hidden charges to vendors or customers.

How to perform Integration and configuration of CoinGate payment extension?

Integration and configuration of CoinGate payment extension for the Magento store are very straightforward. The payment gateway is completely automated and automatic payment confirmations are received with proper order status updates.

Features of CoinGate Gateway

  • The gateway is completely automatic.
  • Set price in the local currency with payment amount is calculated using exchange rates.
  • The customers can pay invoices with Bitcoin, while vendor payouts are in a single currency of choice.
  • Sandbox environment for testing.
  • Instant refunds for unsuccessful payments from the invoice.
  • No chargebacks.

Working Model of Bitcoin Payments via CoinGate

  • A product is priced at 100 euro in the store. A customer wants to buy and selects to pay with Bitcoin via CoinGate.
  • Once the order is generated on the Magento 2 store, next the customer is redirected to the payment page.
  • The price is calculated in real-time according to the current market rate.
  • Using a Bitcoin wallet, the customer can make the payment and gets confirmation.
  • Once the invoice is paid, the vendor gets a notification and is credited the amount after 1.3% flat fee of CoinGate. The payment is guaranteed and cannot be charged back.

Seeing so many benefits Magento 2 developments can’t be imagined without Bitcoin Payments via CoinGate. It has become a new norm and vendors are enjoying its benefits to engage potential buyers.  

Wrapping Up:

The above discussed is all about the Bitcoin payments via CoinGate for an online selling store. Just be ready with your E-commerce store requirements and integrate the Magento 2 extensions which are perfect for your projects. If you face any concerns with your store simply hire Magento Developers to meet both business & end-user requirements. You can consult an experienced Magento development agency serving all your business requirements in the best possible manner without delay.

Frequently Asked Questions

Frequently Asked Questions
Frequently Asked Questions

What is CoinGate?

CoinGate was founded in 2014 and is incorporated in Vilnius, Lithuania. The company is a cryptocurrency payment gateway, enabling various businesses worldwide to accept Bitcoin. Their merchants can also choose to keep the revenue in cryptocurrencies, providing numerous ways to make a withdrawal.

How do I accept a Bitcoin payment?

Start with a sign. If you expect that the number of people interested in using Bitcoin is small, you might simply start by posting a sign or a note: “We Accept Bitcoin”, and ask people to contact you directly in order to make a payment.

What is Magento 2 Extension?

A Magento 2 extension is a block of PHP code that includes functions, added into the eCommerce store to improve its functionality. Extensions are developed using the broad network of Magento partners to give full flexibility and power to maintain the store the way you want.

What is Bitcoin and how does it work?

Each Bitcoin is basically a computer file that is stored in a ‘digital wallet’ app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.

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