Why should businesses implement crypto gateways?

Studying crypto gateways

Let's start with the conceptual apparatus and description of the operating principles, and then move on to the advantages and features.

What are crypto gateways?

This is the name for tools that allow companies to accept payments in cryptocurrencies. They act as intermediaries between buyers, sellers, and the blockchain network. At the same time, they take on the security of all transaction participants.

The crypto gateway and the businesses that have implemented the solution become one. The gateway itself is useless, because it is only a tool. Without it and business crypto account, the company will not be able to accept buyers' funds, since it is impossible to generate multiple different addresses in regular user wallets. And they are needed so that the business can track which of the clients have transferred funds and who has not yet.

How crypto gateways work

First, the company selects, pays for and connects the crypto gateway. Which will process crypto payments for business. Then it integrates solution with its website or application. After that, the work begins, organized as follows:

• The client selects a convenient coin on the seller's website and begins to make a purchase;
• The gateway creates a unique address to which the payment must be sent;
• The buyer sends the required amount;
• The transaction is verified and the seller receives a confirmation;
• The gateway transfers funds to the business's wallet and saves data on the completed transaction.

Benefits of implementing crypto gateways

Without this solution, it will not be possible to generate unique addresses for different clients. That is, for the company, this is a necessity, but along with it, it also brings convenience, of course, if a reliable product with a proven reputation is chosen. We are talking about security and ease of use of payments.

Increased transaction security

You will read about this on the website of each seller, but it is not always 100% true. If the solution is custodial, then its users do not have mnemonic phrases, and therefore their funds. In this case, the implementation of crypto gateways cannot be called safe.

It is important to choose non-custodial products to be the real owner of your funds. Best crypto payment processors are non-custodial. BitHide clients, for example, install the wallet on their own server.

Also, for many cryptocurrency gateways, the issue of anonymity remains open. It is mistakenly believed that transactions in the blockchain network cannot be tracked. In fact, those who want to know the IP addresses of cryptocurrency users place their nodes around the world, which receive this data.

Are crypto gateways able to effectively hide real IP addresses? Not all of them. But some are able to, BitHide implements Dark Wing technology, a synthesis of VPN and Tor. It changes the user's real IP address THREE TIMES. Tracking the cryptocurrency of users who make transactions through our gateway is beyond anyone's capabilities.

Expanding payment options

Employees work with financial flows in a much more convenient interface and can use familiar accounting tools. BitHide makes it easy to work with:

• mass payments, for this you just need to upload a table with addresses and amounts and click the "send" button;
• subwallets, in which it is easy to create an unlimited number of addresses, each one can be marked, for example, add information about buyers. All this allows you to separate financial flows when you are accepting crypto as a business;
• separation of cryptocurrency by its risk level thanks to the built-in AML verification tool.

Conclusion

The benefits of a crypto gateway for a business that is going to accept payments in cryptocurrency are obvious. Without it, it is simply impossible to create unique addresses. And if the chosen product is truly reliable, safe and convenient, then as a bonus there are many other advantages, from a mnemonic phrase to working with financial flows in an intuitive interface.