What is CoinGate?
CoinGate is a Bitcoin Payment Processor (BPP) which serves as an online digital currency platform that provides merchant services to businesses and individuals, basically allowing businesses to accept Bitcoin and over 50 other alternative cryptocurrencies, examples are Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Dash, among others as payment for their products via online and traditional POS options. It also enables individuals and organizations to trade Bitcoin in the digital currency market.
Founded in 2014 and fully went live early 2015. It is incorporated in Vilnium, Lithuania and currently serving over 4,500 business clients and 80,000 registered users. Also, it has numerous payment options available.
CoinGate is simply an online marketplace, with a payment processing feature. Merchants get registered, market and sell their products for payments in Bitcoin, fiat, and other supported digital currencies. Users register in order to get products online and easily pay for with digital currencies using the various payment options made available. Also, as a marketplace which it is, it enables Bitcoin trading at the best price on the digital currency market when compared to the prices offered at various exchanges. Therefore, crypto traders can buy and sell Bitcoin with CoinGate, they can perform trades just like with normal exchanges, basking on the safe and secure environment CoinGate provides.
CoinGate helps businesses gear up for the future with Bitcoin POS, widgets, and plugins for online shopping carts like Magento, WooCommerce OpenCart, VirtueMart, etc. They also offer Bitcoin Point of Sale apps for Android and iOS for seamless mobile shopping experience for customers, and faster and safe payment processing to businesses.
CoinGate Benefits
Taking a CoinGate review on its benefits, CoinGate processes Bitcoin payments automatically and seamlessly, and all payouts are sent to the merchant’s accounts without any deductions apart from the processing fee.
These payouts are available in Euros, U.S. Dollars, USDT or Bitcoin.
CoinGate also carries out an automatic fiat/crypto-to-crypto conversion; this means Bitcoin payments can be converted automatically to EUR/USD. Also, a merchant can prefer payments to be made in Bitcoin but have a client/customer who wishes to pay in Ethereum or Dash, CoinGate simply accepts the Ethereum or Dash payment and automatically processes and converts it to Bitcoin preferred by the selling merchant, then pays the converted Bitcoin into the merchant’s account.
Prices of Bitcoin and other coins are constantly compared with that of other exchanges and updated in real time, making CoinGate merchants, traders and clients to pay as little as it is possible.
CoinGate protects it’s merchants by ensuring that payments are irreversible, there is a high level of customer privacy and it also has lower fees.
CoinGate Fees
On CoinGate review on its fees: As regarding withdrawals, CoinGate charges no fees on Bitcoin withdrawals, charges done on advcash, SEPA, Skrill or International Bank withdrawals are all on third party basis.
For CoinGate merchants, CoinGate charges a 1% flat fee for payment processing. There are no setup or recurring fees, and no fees charged to shoppers.
On trading, CoinGate charges a 3% flat fee on all buying and selling trades executed on it.
Other purchase fees are charged by third party partners like Skrill, Neteller, Credit/Debit card providers, and others.