A Revolutionary Way for Online Money Transactions

With the introduction of cryptocurrency, merchants especially those who regularly deal online are certainly taking a sigh of relief. Because of this virtual currency almost 50 different cryptocoins can be transacted enabling everyone to trade with the alternate currency community. In this all new environment, a website named CoinPayments.net is performing the big job of bringing stability to the disorganized market of several newer coins whereby it can help strengthen the community and keep the alternate currencies workable.

What is Cryptocurrency?

In simple language, cryptocurrency is virtual money. It uses cryptography for security. Same as you carry currency notes and coins in wallet, so as to keep them protected from robbers, cryptocurrency is covered with cryptography. Because of cryptography, the cryptocurrency cannot be counterfeited.

A remarkable feature of cryptocurrency is that there is not any central authority to issue this currency. Therefore, it is theoretically protected from government intervention and manipulation.

The first cryptocurrency created was Bitcoin which was introduced in 2009. The success of bitcoin generated plenty of other cryptocurrencies, like Litecoin, PPCoin and Namecoin.

What is CoinPayments.net?

CoinPayments.net allows people to transact with more than 50 different cryptocoins. It was CoinPayments.net which opened an easy way for traders and consumers to transact the first cryptocoin, Bitcoin, which was difficult to be acceptable in the mainstream transactions and thus offered stability to the bitcoin economy. In the course of time, it went on accepting the other newly introduced cryptocoins and provided a great easy tool for traders, websites and consumers to transact with cryptocurrencies.

CoinPayments.net is the first and the best multi-coin payment processor in the world. It accepts Bitoin, Doge, Litecoin, PeerCoin, Darkcoin, Infinitecoin, and 50 other coins. They charge very low transaction fees, i.e. 0.5% flat rate, and no fee for PayPal pass-through. Even no monthly fees are charged. You don’t have to sign any contract either. You can add your store to the store directory of CoinPayments to get more community exposure. There are attractive discounts for large volume customers. Thus CoinPayments.net is an easy, hassle-free, convenient and affordable payment processor on the web.

How Does It Work?

For transacting through CoinPayments.net, you will have to follow these 4 steps:

1. Create an Account with CoinPayments.net: Go to the homepage of CoinPayments.net and click the “Register” button which is on the upper right side, and create an account, by filling in an easy form. A verification email will be sent to your inbox, containing a verification link, which when you click, your email id is verified and your account is created.

2. Configure It to Use the Cryptocoin You Want to Use: After registering, log into your CoinPayments.net account. Coin Payments uses a 2-fold authentication system for extra security. A password is sent to your email id, which you can use to log into your account.

Now go to “My Account” -> “Coin Acceptance Settings” and select the coin you want to use. You can select multiple coin options if you are going to accept them. The coins you select are available for payment later.

Now go to “My Account” -> “Account Settings” and set your business name, email id and other information.

3. Incorporate the Payment Gateway with Your Store: Now you can incorporate your store with the payment system. Several tools and utilities are provided to traders by CoinPayments.net which you can explore and try various tools. For example, to create a simple payment button, first you can click on “Merchants Tools” to see a list of available options of tools. Next you have to click on “Button Maker” upon which you are presented with a form wherein you have to fill the details of your product. It corresponds to the product you want to sell through your web store. Once you enter the details, select the type of button you want to use. After you choose your button image, click on “Generate Button” upon which a corresponding button code will be created in the window below the button. Copy-paste this button code in the source code of your web store whereby it will appear under the corresponding product. You are done! The payment button is added to your store’s page.

4. Receive Notifications and Payments: When a customer wants to buy your product, they are directed to the CoinPayments checkout page upon clicking on the CoinPayments button you created. Here the customer can make changes in quantity, fill in extra order details, recalculate the total, and later they can click on the “Complete Checkout” button to complete the transaction. The customer gets her/his payment ID and other information about verification code, etc. They get a wallet address of their chosen cryptocoin where s/he should send payment. Once a payment has been received, you will receive an email notification.

At your account on CoinPayments, you can see the transactions and payments status, by going to “My Account” –> “Recent Payments”.

Your funds will be available to you upon 20 confirmations through the payment network of your chosen cryptocoin, which takes about 20 minutes. You receive an email notification of availability of the payment to you. This amount is added to your total count of the cryptocoin you chose in your digital wallet. To withdraw the amount, click on the “Withdraw Coins” button and fill in your wallet address. You will also get a confirmation upon withdrawal. After receiving the payment, you can ship the product to your customer.

So, you can see that trading online without having to worry about your money being robbed by cyber criminals has been made so easy by CoinPayments.net. We can now hope to see a day when all the transactions can be done in such a safe and easy way, and a stress-free atmosphere will be created on the web.