what is cryptAPI

Normally, a payment gateway often offers a service that enables a safe and secure transfer of funds from the customer to the merchant. On the other hand, crypto payment gateways are online platforms that allow merchants to accept payments in cryptocurrency.

They work similarly to traditional payment gateways, such as PayPal or Stripe, but instead of processing payments in fiat currency, they process payments in cryptos.

Crypto Payment Gateways can Boost Adoption

Some examples of crypto payment gateways include BitPay, CoinPayments and CryptAPI. These platforms offers merchants a way to accept crypto payments for goods and services and provides a way for consumers to use their crypto assets as a means of payment. A crypto payment gateway typically includes the following features:

  1. A digital wallet: The gateway holds the cryptocurrency on behalf of the merchant until the transaction is confirmed.
  2. Integration with merchants’ website: The gateway provides a simple integration process for merchants to add a “pay with cryptocurrency” button to their website, allowing customers to make payments directly from the merchant’s website.
  3. Conversion of cryptocurrency to fiat currency: Some crypto payment gateways offer the option to convert the received cryptocurrency into fiat currency, such as USD, and deposit the funds into the merchant’s bank account.
  4. Secure transactions: Crypto payment gateways use advanced security measures, such as encryption and multi-sig wallets, to protect against hacking and fraud.
  5. Support for multiple cryptocurrencies: Some crypto payment gateways support multiple cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, allowing merchants to accept payments in different cryptocurrencies.
What is CryptAPI?

CryptAPI is a secure, easy-to-use, and powerful API for cryptocurrency payments. It allows users to  process payments in crypto on the WordPress-based WooCommerce shop.

It provides a simple, standardized interface for interacting with different blockchain networks and supports a wide range of cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. CryptAPI is designed to make it easy for developers to add crypto functionality to their projects without needing to have deep expertise in blockchain technology.

Having a crypto gateway offers a few advantages in general. First of all, it has a reduced possibility of restrictions since you can receive transactions from different parts of the worlds. So, politics and other such factors won’t restrict a customer’s ability to make purchases.

Additionally, the transactions are secure and private. Although the entire blockchain system is rather secure on its own, CryptAPI adds an extra layer of security to transactions.  As a result, parties involved have little concern about losing their funds, especially when large sums are involved.

Not to mention, cryptocurrency transactions happen instantly. Unlike credit card transactions, which may take several days to execute, crypto transactions takes a few minutes and the cash is in your wallet.

Setting up the CryptAPI plugin doesn’t take much time. But, ensure your PHP is equal to or above 5.5, WordPress is equal to or above 4.4, and WooCommerce is equal to or above 2.4. Follow this tutorial on how to install the CryptAPI plugin.

Fees and Ease of Use in CryptAPI

You don’t need to pay a monthly subscription fee like you would for other plugins or website apps. You only pay a transaction fee for each transaction. However, the percentage of the fee varies depending on how much money you have received in USD; it starts at 1% for amounts up to $5,000 and decreases from there. So, the cost will be 0.85% for volumes between $5,000 and $10,000, 0.8% for volumes beyond $25,000, etc.

As mentioned earlier, CryptAPI is a plugin for your WordPress-based WooCommerce shop. It enables crypto payments. Here are some of the support coins/tokens:

  • (BTC) Bitcoin
  • (ETH) Ethereum
  • (BCH) Bitcoin Cash
  • (LTC) Litecoin
  • (TRX) Tron
  • (BNB) Binance Coin
  • (SHIB) Shiba Inu
  • (DOGE) Dogecoin
  • (MATIC) Matic

CryptAPI comes with several benefits. For example, you don not need to register. It is also easy to install it to your WooCommerce shop. All you have to do is go to your WordPress dashboard, search for the plugin there, install it, then activate it.

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