CoinGate-All you need to know about

CoinGate develops blockchain-friendly technology as part of its mission to become an all-inclusive platform for crypto and serve as a bridge between traditional and decentralised marketplaces. To get closer to this goal, our team has produced a number of innovative items throughout the years.

To protect its merchants from the volatile prices of cryptocurrencies, CoinGate provides instant Bitcoin and Euro settlements. It has built an easy-to-use API alongside 10 separate shopping cart modules, payment buttons, immediate billing, and POS systems for businesses in the retail sector.

It’s designed to streamline the process of accepting Bitcoin and other digital currencies for merchants of all stripes. 

Over 1.5 million transactions, 1.4 million merchant orders, and over 260,000 users registered to date demonstrate strong market acceptance for the fintech payment gateway that provides cryptocurrency payment processing services for businesses and enterprises of all sizes.

Why do people use CoinGate, and what is it?

In 2014, Dmitrijus Borisenka, Jonas Gilys, and Irmantas Baciulis created the cryptocurrency exchange CoinGate. Since then, many customers have chosen CoinGate as their go-to payment processor due to its permission-based account management, fiat payments to bank accounts, and novel email billing functionality.

In addition to its merchant services, CoinGate also provides a marketplace where many cryptocurrencies can be purchased with a single transaction. CoinGate has been called several things, including a crypto payment processor, trading platform, and reseller of gift cards. 

The company helps bring broad adoption of cryptocurrencies closer by providing several methods for establishing crypto payments for any online or physical business. There are a variety of ways to accept payments, from in-browser payment buttons and web-based POS software to API integration and official plugins for the industry’s leading e-commerce platforms.

CoinGate users can trade their cryptocurrency for fiat currency thanks to the platform’s support for a wide variety of payment methods. In addition, given that every CoinGate merchant has access to the firm’s fiat currency conversion services, they can accept over 70 different cryptocurrencies.

In addition, the company’s stellar reputation is bolstered by the everyday collaboration it enjoys with well-known businesses such as Simplex, Changelly, and DAOpay.

Recently, popular web host Hostinger announced a partnership with cryptocurrency payment processor CopinGate and will keep accepting cryptocurrency payments.

In fact, the cryptocurrency payment services company works with businesses in over a hundred different countries and accepts payments in more than fifty different local currencies. You can find the complete list of supported countries on this page. 

Products and services offered by CoinGate

• Online stores should accommodate cryptocurrency payments.
• CoinGate enables merchants to accept cryptocurrency payments in a variety of formats, including Bitcoin, Ethereum, and Litecoin.
• In addition, a merchant’s ability to track orders and administer cryptocurrency earnings is enhanced by a fully integrated and flexible platform developing a cryptocurrency payment infrastructure. 
• Customers can use many different features and benefit from an intuitive interface after a short registration process. 

Some of the benefits of taking cryptocurrency payments using CoinGate instead of more conventional methods of payment are listed below.

1. Low costs;
2. Nonrefundable fees;
3. Micro-transactions;
4. superior consumer confidentiality;
5. Increased potential customers.

How it Works?

Users can select from a number of different cryptocurrencies once they click the CoinGate button. The merchant then generates a payment invoice through CoinGate after having prepared a bitcoin invoice for payment. When a customer is ready to make a purchase, CoinGate converts the price of the item into their preferred cryptocurrency and displays a payment window. 

When a business accepts cryptocurrency payments, CoinGate will collect those funds and remit them to the business owner in EUR, BTC, or another supported digital currency.

Anyone with a Business Account can start accepting crypto payments and trading like a firm immediately. Becoming a cryptocurrency payments processor is one way for a company to fully integrate into the crypto world.

Integration

Below, we’ll go into detail on how to integrate your business’s payment solutions through an API, plugin payment buttons, or Point-of-Sale integration to better serve your customers’ demands.

Add-ons

By downloading and installing CoinGate’s official Plugin modules, retailers can accept payments in a matter of minutes from customers using any of the supported cryptocurrencies.

Amount-Payment Button

If you equip business owners with Payment buttons, they can accept payments in a wide variety of digital currencies with only a few clicks. CoinGate sends out email notifications whenever a vendor is paid, allowing them to develop a custom layout that fits their needs, monitor orders, and never miss a payment. 

API for CoinGate

Businesses and online stores that want to start taking bitcoin payments can use the CoinGate API for a variety of different purposes. Since CoinGate manages the entire payment process from purchase to settlement, businesses no longer require in-house specialists or to worry about the effects of fluctuating exchange rates when accepting this new, flexible payment option. Integration at the corporate level is ideal for this.

Billing

These characteristics of this crypto payment system make it an excellent choice for a wide variety of business scenarios, including the use of custom billing services. Merchants may accept payments in 70+ cryptocurrencies from customers and B2B partners all over the world via instant or regular email billing.

Instantaneous Retail Purchase

If you have a credit or debit card and want to buy cryptocurrency right away, you can use the Buy Instantly feature to do so, albeit doing so will incur an additional fee. 

To finish your purchase, please proceed to the payment page and enter your billing information. Simplex, a trusted name in the worldwide payments industry, processes your credit card information quickly and securely utilising industry-leading encryption software. 

You may start using Buy Instantly right away without signing up for anything. Within an hour of completing the quick verification process, you will have access to your cryptocurrency. However, remember that you’ll need an appropriate external wallet in order to make any cryptocurrency purchases on the platform.

Discount Cards

Gift cards for over a thousand popular online retailers, including Amazon, Netflix, Xbox, and hundreds more, are now available for purchase using Bitcoin and other cryptocurrencies. 

In addition to the nearly-instantaneous email delivery, CoinGate gift cards provide their own set of benefits. In addition, you can have the coupon emailed to yourself or someone else as a present right from the shopping cart.

Customers can escape regional limits and use subscriptions without any hassle thanks to the convenience of purchasing using gift cards rather than credit or debit cards.

CoinGate provides users with a practical application for their cryptocurrency by allowing them to purchase gift cards at reduced network fees over the Lightning Network.

Swap and Shop

By making a simple SEPA transfer from your bank account, you can easily buy Bitcoin or any other cryptocurrency with Buy & Sell and have it sent right to your personal wallet without making any initial payments.

When buying cryptocurrency, funds are sent directly to the user’s external wallet, and when selling cryptocurrency, funds are paid to a specified SEPA bank account within 24 hours.

Customers can also use Apple Pay to purchase Bitcoin and other cryptocurrencies, albeit this payment method is exclusive to iOS devices.

Coingate accepts deposits through a number of different channels, such as wire transfer, debit card, and Klarna, a Swedish payment intermediary service.

In-App Purchases

Mobile users also have the option of tracking the status of their withdrawals and orders. 

To place an order from your mobile device, select “Mobile Orders” from the “Trading” submenu. Users may view the order/withdrawal status, category, quantity, and creation date, just like they do with orders.

Withdrawals

In addition, under the “Trading” submenu, users can access the “Withdrawals” page to review their past withdrawals. 

Users can view their account balance, category, payout preferences, and account creation date.

Users of CoinGate are unable to make cryptocurrency or fiat currency deposits or withdrawals in order to trade. Therefore, all cryptocurrency transactions take place off-chain, in separate wallets.

Support for third-party wallets 

Since CoinGate does not provide consumers with separate crypto and fiat-wallet accounts, any cryptos gained on the platform will be promptly transferred into your chosen external crypto wallet.

When making a purchase, selling, or withdrawing cryptocurrency, customers typically provide an external wallet address to store their funds.

Customers must first change their “Payout Settings” under the “Accounts Settings” section of the “Dashboard” before they may buy, sell, or send cryptocurrencies.

Costs and Charges

All buttons, plugins, web-based POS systems, APIs, and bills are subject to the low 1% cryptocurrency payment processing cost. Therefore, as a merchant, you will be charged one percent of all bitcoin transactions through Coingates’ payment processing service.

Trading costs

The table below outlines the various commissions that will be paid out depending on the mode of purchase.

When making a purchase or sale via a bank transfer within the European Economic Area (EEA), Coingate charges a flat rate of 3%. Traders pay a flat 3% fee on each trade, with no monthly or annual fees and no costs associated with creating an account. You can only make one purchase of up to 5,000 EUR using a SEPA or international bank transfer. When requested, CoinGate can increase limitations on a case-by-case basis.

Only purchases made with a credit or debit card are subject to an 8% surcharge, which is collected in conjunction with Simplex. There is a 20,000 EUR/USD daily limit and a 50,000 EUR/USD monthly restriction on a credit card’s purchases.

Payout charges

Withdraw at least 50 EUR with a SEPA bank transfer with no withdrawal fees;

Withdrawals from non-U.S. banks have a 1% (or a minimum of 50 EUR) withdrawal fee for amounts under 250 EUR.

Withdrawals from non-U.S. banks incur a fee of 0.2% (or no less than 50 EUR), with a minimum withdrawal value of 250 USD.

Coingate does not charge any fees for withdrawing cryptocurrency, thus the only fees you need to be aware of while withdrawing are the network fees.

Guide on signing up for CoinGate.

1. First, visit the CoinGate webpage and select the “Sign Up” button to create an account.
2. Second, decide if you’ll be using CoinGate for personal or commercial purposes.
3. Third, decide whether you want to sign up using your Google or Facebook account or your email address after reading the User and Purchaser Agreement.
4. After selecting the sign-up option, you will be given the option to either continue verification or explore the site first.
5. If you click ‘Take a look around first,’ CoinGate will take you to your account dashboard right away. To begin utilising CoinGate Buy & Sell, you must first go through the verification process.
6. The sixth action is that CoinGate offers several levels of authentication to its consumers.

For customers who have reached Tier 1 Verification, the monthly limit on buying and selling bitcoin is €1,000, with a maximum of €5,000. If the cap is reached, verification at Tier 2 level will be necessary. You’ll need to provide your country of residency, ID document, and a selfie to access Tier 2.

If you pass the second level of verification, you’ll have access to CoinGate forever.

Partnership

CoinGate’s affiliate and referral programmes will allow you to earn money even while you’re not actively promoting the platform.

Method of referral

Through its referral programme, CoinGate allows users to earn passive revenue by bringing in new customers. The financial technology firm offers one of the industry’s most generous referral programmes.

Anyone with a CoinGate account can start making money instantly by referring new users. To begin, know that you can promote as many as five distinct CoinGate offerings with a single affiliate link.

Network marketing

You can help CoinGate reach its mission of increasing bitcoin acceptance worldwide by signing up for the CoinGate Affiliate programme.

By promoting CoinGate’s services, you can earn money through the affiliate programme. Referring a friend to CoinGate, for instance, may earn you 10% of whatever they spend. 

Offering popular cryptocurrencies as gift cards through an affiliate partnership with CoinGate is another way to promote bitcoin adoption while reaping financial benefits. You will receive a commission for each gift card that is sold as a result of your advertising efforts. 

Affiliate Programs

Join the Affiliate Programme for CoinGate Gift Card Shop. Once you’ve been accepted, you’ll have access to their marketing materials and analytics so you can begin selling their wares. 

Links to the CoinGate Gift Card Shop in articles, original content in the form of text reviews or video integrations with CoinGate adverts are all acceptable forms of promotion.

CoinGate’s Help Desk

CoinGate provides a frequently asked questions (FAQ) section and a blog for users to learn about the latest developments and get their questions answered. If clients have a problem that can’t be fixed here, they can submit details using the form on this page. Alternatively, you can send an email to [email protected]. CoinGate’s customer service department promises a response within 24 hours, and it provides support via a wide variety of channels.

How secure is CoinGate?

In order to comply with EU and local regulations and industry best practises in regards to AML and CTF, the company has created and installed state-of-the-art software.

Two-factor authentication (2FA), for instance, is a reliable method of securing access to crypto sites. By entering a passcode sent to your phone, your account is protected from unauthorised use.

Finally, the corporation stores the vast bulk of its currencies offline in cold storage, making it impossible for hackers to steal its digital assets. CoinGate has also been completely secure from its inception, with no hacks, monetary losses, or information leaks ever occurring.

Pros

• Service supports over 50 currencies and over 100 different countries.

• Safety is of paramount importance, thus we implement two-factor authentication and keep data in cold storage.

• Users have round-the-clock access to customer service through email and the company’s ticketing system.

• CoinGate supports 70 different digital currencies that can be traded for fiat money.

• Refer a friend and earn 1% of their trading volume for life on CoinGate with their generous referral programme.

• You can make instantaneous purchases of cryptocurrencies using your credit/debit card or international wire transfers using SWIFT/SEPA.

• Offerings include a crypto payments solution, the ability to buy and sell cryptocurrency, and the facilitation of the purchase and transmission of gift cards;

• CoinGate is a cryptocurrency exchange that also provides payment buttons, web POS software, API connections, and official plugins for the most popular e-commerce platforms to its business users

Cons

• When it comes to making deposits, the platform does not accept cryptocurrency

• The only languages available on this site are English and Spanish. Customers who wish to see additional language support should get in touch with the service’s support staff.

• CoinGate does not offer a wallet at this time.

Conclusion

Ultimately, CoinGate is able to address the needs of both businesses and individuals with its payment platform and its trading and gift card services, thanks to its status as a multi-product platform.

CoinGate’s API, shopping cart plugins, payment buttons, and Web Point-of-Sale are just a few of the integration possibilities that make the platform stand out and adapt to the demands of each business. Customers will like the streamlined user interface and straightforward checkout options it provides, whether they are shopping online or in a physical store.

Last but not least, CoinGate lets its customers securely pay using Bitcoin, Litecoin, Ethereum, and over 70 other virtual currencies without worrying about the fluctuation of exchange rates when depositing or withdrawing cryptocurrency. The service charges a flat 1% fee with no additional costs or profits.