What is Crypto Payment Gateway Development?
Companies that would like to accept cryptocurrencies such as Bitcoin, Ethereum, etc. must use a payment gateway. The crypto gateway acts as a mediator between
- the buyer,
- the seller,
- and the blockchain network.
It facilitates cryptocurrency transfer from the buyers to the sellers.
One option here is to use a ready-made solution. Another one is to develop it from scratch. The latter allows for customizable parameters, branding, and incorporation of internal business processes. However, it's much more expensive and time-consuming.
The development process consists of creating an interface. This interface allows users to select the cryptocurrency for payment. Then, customers can enter the amount they pay. The gateway should also include features such as:
- security protocols,
- authorization,
- transaction verification,
- transaction history tracking.
A reliable crypto payment gateway development company helps businesses design and integrate crypto processors into the business' product. However, not all businesses need a custom solution. There are more affordable options on the market. Review the existing products and see whether they are functional enough. For example, BitHide is a gateway that you can use to receive payments. This is one of the market's most secure and anonymous solutions. Moreover, it has developed administrative functionality.
How does Cryptocurrency Payment Gateway Work?
To accept crypto, merchants must set up a crypto wallet accountto deposit the payments. Then, they need to choose a crypto gateway and connect it to their software. Gateway developers using API can provide it for you for a more straightforward integration process. Once the integration is complete, the merchant can suggest their customers pay in crypto.
A transaction must be processed and verified when a customer purchases a service. Let's investigate the process in detail:
- Payment initiation. The customer selects the cryptocurrency to pay at checkout. And the payment gateway generates a unique wallet address for the transaction.
- Payment verification. The process is completed on the blockchain.
- Payment confirmation. The crypto gateway gets the confirmation from the blockchain that the payment was successful and notifies the merchant about the completed charge.
- Settlement. The gateway deposits the payment into the company's crypto account.
Why do you Need Software Development for Crypto Payment Gateways?
Software development for crypto gateways is crucial for several reasons:
Integration
A well-designed software development process can incorporate the gateway into a merchant's software. The development of such a gateway can take months. Yet, with BitHide, you only need to install the software on your servers. We will connect it to your platform, application, or website. It takes less than a day.
Customization
Different businesses have different needs. Customizable tools allow merchants to tailor the payment process to their specific requirements. You can look for alternatives to avoid developing your cryptocurrency wallet. You can buy BitHide's white-label cryptocurrency wallet. It offers the same features as the regular wallet but allows you to customize it with your branding. It will be less expensive and time-consuming.
Security
Security is paramount in cryptocurrencies. But not only custom software development can ensure the safety of your transactions. Some existing crypto gateways also have encryption or two-factor authentication. At BitHide, we also provide no transaction detail disclosure to third parties. With the combined TOR and VPN usage, complete anonymity for your wallet's address is guaranteed.
Scalability
As a business grows, its payment solution must deal with increasing transactions. With BitHide, you can generate multiple crypto addresses simultaneously.
The above parameters mean that if the functionality of ready-made gateways like BitHide isn't enough, developing a custom solution can become an option. However, check out before tailoring a new software whether it's what you really need in your case.
Benefits of Cryptocurrency Payment Gateway Development
Kick-starting the development is beneficial in these cases:
- The existing ready-made solutions cannot cope with your business needs.
- Your software is not compatible with existing solutions.
- The existing solutions don't support the cryptocurrencies you need.
- Downtime SLA of the ready-made gateways doesn't fit your expectations.
- You can't customize the checkout process and need more options to use.
Cryptocurrency payment processor development
There are two ways to launch a feature-rich crypto gateway platform. The first option is to build a secure platform from scratch. This can be very expensive and time-consuming, especially for smaller companies. Hence, this method is only for businesses that need a high level of customization. Alternatively, you can opt for a white-label crypto solution like BitHide. It lets you incorporate a high-quality platform according to your business requirements.
Multi-Crypto Payment Gateway
Remember that a multi-crypto solution allows merchants to accept various cryptocurrencies as payment. This involves Bitcoin, Ethereum, Litecoin, and others. As a result, customers pay using their preferred cryptocurrency, which helps businesses expand their customer base. At BitHide, for example, we accept Bitcoin, Litecoin, Ethereum, Tron, USDT, and others.
Bitcoin
Ethereum
Litecoin
Tron
USDT - OMNI
USDT - TRC20
USDT - ERC20
Other coins
DeFi Crypto Payment Gateway
If you are vague about whether to choose a decentralized finance (DeFi) platform or a centralized one (data is stored on your private servers), consider the following.
First, DeFi can manage only the coins on top of Ethereum or other blockchain that supports smart contracts. This means that with a DeFi gateway, you can’t accept neither TPX nor Bitcoin, Litecoin etc. For these coins, it’s better to use a centralized crypto gateway like BitHide.
White label crypto payment gateway development
White label crypto processing tool is a solution you can brand. As a result, customers think the payment happens during the internal checkout. After you install BitHide on your servers, you can set up your account and brand your wallets. Thus, you won't have to develop a solution that lets you save your identity while accepting crypto.
Cryptocurrency Payment Gateway Development Services
Looking for a company that serves software development is a very time-consuming process. To create a payment gateway minimum viable product is estimated in hundreds of thousands of dollars. A more efficient way for you is to find a ready-made solution that meets your expectations of seamless integration, customizable design, and extreme security. Businesses can save time and resources by utilizing existing white-label solutions. Take, for instance, BitHide. Usually, it is more efficient than building a gateway from scratch.
Why Choose BitHide for Crypto Payment Gateway Development
BitHide ensures the confidentiality of your transactions by utilizing two key features.
First, all your data is stored on your servers. This prevents third-party access. Also, it guarantees that only you decide whether to pass the KYC or AML verification.
Second, BitHide uses Dark Wing technology. It offers a two-stage data protection process involving VPN and TOR. This technology prevents any third party from detecting your wallet's physical address. Also, it eliminates the need to disclose transaction data.
BitHide allows you to connect as many merchants as you need. As a result, you can manage your multiple-source transactions in one wallet. Our tool makes it convenient for businesses operating various merchants worldwide.
Withdraw funds automatically based on several settings. For example, every time a new transaction is made. Or a specific amount of funds is collected. Or a particular time when the blockchain commission is lower. API-driven withdrawals are also available.
To follow the current security standards, BitHide uses the two-factor authentication process.
BitHide's risk-detection feature protects your wallet from harmful crypto operations. It ensures the safety of your wallet's reputation. Our technology can alert you of damaging dealings and quarantine them. Also, this feature lets you withdraw the quarantined money later. And keeps your wallet structure flawless.
BitHide features a balance report for each merchant. Also, it provides a pivot balance report for all merchants at once. In addition, you can choose custom periods for such reports. This simplifies the work of accountants.
FAQ
How to develop a cryptocurrency payment gateway?
You can either staff an on-site development team or outsource these services. In most cases, it is not necessary. Check if a ready-made solution can meet your requirements. Such options are easy-to-implement and more affordable. Try BitHide if you are still deciding what option to choose.
Which payment gateway is best for cryptocurrency?
The choice depends on the specific preferences of the merchant. The parameters involve:
- - the cryptocurrencies businesses want to accept,
- - ease of use,
- - the number of merchants to serve,
- - and security features.
- - easy integration,
- - affordable fees,
- - multi-currency wallets
- - and high-level security.
What is a white-label payment gateway?
It is a payment processing platform that can be rebranded and customized. Its major feature is to help businesses accept crypto. However, they are tailored in such a way that they can make your checkout processes look internally managed. BitHide lets you brand your solution to correspond to your corporate standards.
Got a question?
Ask them in the feedback form. A BitHide specialist will get back to you as soon as possible.
Send us a request
Error
You have already submitted this information