Fantom is a platform that powers the decentralized finance industry of today and the future. Fantom, thanks to its amazing technology, allows decentralized applications to enjoy excellent scalability and efficiency. FTM, the native cryptocurrency of Fantom, thus rightly deserves the attention and support granted to it by crypto investors and enthusiasts. FTM is also a perfect fit for businesses that are looking for a coin with fast and low-cost transactions. Online merchants have access to a great number of tools that can help them to integrate FTM payments, but the most reliable of them are plugins. NOWPayments provides eCommerce businesses with plugins enabling them to accept FTM as payment.
Key points:
- FTM provides security on the Fantom network.
- FTM payments are low-cost and private.
- NOWPayments assists companies in accepting FTM.
What is a Fantom coin?
As mentioned above, FTM is the native cryptocurrency of the Fantom platform. FTM has a total supply of 3.175 billion. FTM performs several functions on the network and outside it. Specifically, the main utility of the FTM token is the provision of security on the network using Fantom’s Proof-of-Stake system. FTM holders can stake their funds to receive rewards and protect the Fantom network.
Pros and cons of FTM payments
Low fees
One of the most important features of FTM is the cost of its transactions. The amount of FTM paid per transaction in fees is low even by the standards of the crypto industry. Specifically, on average, it will cost you $0.0000001 to send an FTM transaction. Such inexpensive transactions can become a great asset to any business. Essentially, by accepting FTM payments, businesses can take home a larger sum than their competitors using the mainstream payment processing solutions. Alternatively, lower transaction fees can enable companies to lower their prices and thus win a competition.
Fast and borderless payments
Another excellent feature of FTM is the speed of its transactions. It was already mentioned that Fantom is an efficient platform, but its efficiency is simply unheard of. On average, an FTM transfer takes only 1 second. Moreover, the speed remains stable no matter how large the geographical distance between the sender and recipient is. So, businesses can utilize FTM as a universal payment method for fast international payments. FTM transactions are available to every person on the planet and at any moment.
Privacy and security
Privacy is also an inherent part of FTM. The Fantom cryptocurrency transactions occur only between two users, which makes them peer-to-peer. Additionally, to use FTM, you do not need to share your identifying information with anyone. Basically, FTM is anonymous and therefore constitutes the perfect solution for confidential money transfers. Fantom is also a secure network, so it is properly protected and unlikely to get hacked. This makes FTM not only a private means of payment but also a secure one. The mainstream payment solutions cannot guarantee privacy to their clients, so FTM can be used as a private alternative.
Best plugins to accept Fantom
WooCommerce
WooCommerce is the primary eCommerce product of WordPress. WooCommerce is a plugin that lets merchants create and manage their own eCommerce stores. For instance, WooCommerce businesses can manage their taxes, inventory, and payments. There is also a possibility for WooCommerce merchants to monitor orders and delivery status. All of these features make WooCommerce extremely popular among companies, and it has been downloaded 20 million times. WooCommerce stores can accept FTM payments by integrating an FTM payment gateway using this plugin.
Shopify
Shopify is also a notable eCommerce solution which is trusted by millions of merchants. Shopify is slightly more advanced than its competitors. Shopify is not free and is distributed on a subscription basis. Shopify businesses are able to deal with every aspect of their store management with the help of the administration panel. Shopify is easy to navigate, so merchants can get their eCommerce business up and running in a matter of minutes. Shopify merchants have access to one command center, enabling them to sync all of their business processes. NOWPayments offers a plugin for Shopify, so merchants can accept FTM payments.
PrestaShop
PrestaShop hosts thousands of stores and marketplaces. PrestaShop is one of few eCommerce platforms that let users utilize it for free. That is why PrestaShop is the go-to option for smaller stores. PrestaShop is open-source, so developers are welcome to make their custom extensions. In fact, PrestaShop has an impressive selection of extra tools available to merchants. PrestaShop’s shopping experience is perfect, thanks to its modern themes. The store’s interface can be translated into different languages. Businesses that have a PrestaShop store and consider featuring FTM payments should check out NOWPayments’ plugin for PrestaShop.
Magento 2
Magento is a next-gen shopping cart solution for online businesses. Magento is your choice if you need a highly-scalable eCommerce platform. Magento runs on PHP, and businesses using it need to be familiar with coding and programming. It is officially the third largest eCommerce platform in terms of the number of users. There is no feature that Magento does not have. Magento businesses can access practically everything, from inventory management to import and export control. Magento lets businesses manage their transaction history, address, shopping cart, and catalog. Magento supports numerous languages. Magento store owners can customize their stores. For instance, they can utilize NOWPayments’ plugin for Magento, which enables them to accept FTM payments.
OpenCart
OpenCart is another noteworthy eCommerce platform allowing merchants to build their own online stores. The coolest thing about OpenCart is that it is free and has open code. Thus, merchants can use OpenCart without paying a penny for it and design new features and add them to their stores. OpenCart does not impose any restrictions, so its merchants can sell products to people across the entire world. The admin dashboard makes it easy to manage the store and lets merchants track their orders. OpenCart merchants can feature an unlimited number of products and categories in their stores. NOWPayments’ plugin is a perfect way for OpenCart merchants to accept FTM coins.
Conclusion
Fantom is both a reliable and efficient network providing a foundation for the decentralized economy. The native crypto of the project, FTM, has low-cost transactions and great speeds. NOWPayments lets merchants integrate FTM payments using plugins