A continuous rise in the global adoption of crypto has been a name of the game for the past several years. The gambling industry has been one of the main beneficiaries of the growing crypto economy, as cryptocurrencies offer a whole host of new opportunities for both companies in this sphere and their clients alike. The Horizen crypto (ZEN) is among the most talked-about digital currencies on the market these days because of its highly-efficient nature, which is something the gambling community takes a special interest in. At NOWPayments, we can attest to the extreme popularity of ZEN as a payment method among merchants, and we strongly recommend gambling sites give this crypto a shot, too.
- Horizen delivers excellent transaction privacy and speed.
- NOWPayments processes ZEN payments instantly and in a non-custodial way.
- iGaming businesses can begin to accept ZEN coin payments via NOWPayments.
What Is Horizen Crypto?
Horizen is a highly secure and performance-focused blockchain platform. Horizen’s innovative mechanics deliver a reliable, scalable, and speedy user experience. The network is also thoroughly protected against malicious attacks. The Horizen network hosts a range of decentralized tools, allowing developers to create their own services and applications on the network. Horizen’s native cryptocurrency, the ZEN crypto, acts as a utility currency serving several purposes including transaction fee payments and miner rewards. One of the central draws of Horizen is shielded Z-addresses. Compared to the standard crypto addresses, the Z ones are totally secure and confidential. Thanks to the power of zero-knowledge cryptography, sender and receiver identities and the amount of ZEN sent are kept secret when using the Z-addresses.
Incredible transaction speed
When looking at Horizen from the perspective of how it can benefit online gambling services, we should definitely pay attention to the fast transaction speed of ZEN. On the Horizen blockchain, transactions get completed within seconds. This is a major advantage for gambling services, which always aspire to avoid leaving their customers frustrated about the funds taking too long to be added to their balance. This quick speed of payments reduces the time of deposits and withdrawals, letting clients move money in and out of the service without a care in the world.
The privacy of Horizen crypto payments is another win for iGaming services. As mentioned above, Horizen’s zk-SNARKs technology is used to cover transaction data, including the sender’s and receiver’s addresses, as well as the transaction sum. Such an arrangement lets users enjoy anonymity and privacy when it comes to sending their money to gambling services or withdrawing their freshly won funds. It is obvious that the average person is not fond of disclosing their gambling activities to third parties such as banks or even to their family members. This is why the shielded ZEN transactions can become a game-changer for iGaming products.
Absence of chargebacks
Horizen crypto payments eliminate the risk of chargeback fraud. Horizen payments are irreversible, as there is no authority that controls Horizen crypto transactions. Therefore, there is simply no one capable of enforcing automatic chargebacks without the consent of the merchant. This provides a secure payment method for gambling services, which are extremely susceptible to chargeback scams because, on many occasions, it is virtually impossible for them to prove to banks that they have provided a service to a person requesting a refund.
Horizen crypto payments are also secure which is especially important for gambling websites. Horizen relies on a mix of blockchain technology and end-to-end encryption to ensure that all Horizen coin transactions are secure and properly executed. As mentioned above, ZEN transactions cannot be reversed, which adds yet another layer of protection for users. Thus, online gambling venues can utilize ZEN to provide clients with the assurance that their money always remains safe when transferring to and from the platform.
How Can Gaming Projects Benefit from Horizen?
Low transaction fees are something that applies equally to both Horizen and NOWPayments. With Horizen, casinos and other gambling platforms can transfer funds without worrying much about expensive fees. This is due to the fact that on average a ZEN transaction costs no more than several cents.
Basically, thanks to ZEN, gambling venues and their clients can move funds almost at no cost and at a high speed, which is quite useful in cases requiring conducting multiple transactions over a short period of time. NOWPayments charges users a 0.5% fee per transaction, which does not make any dent in the casino’s profits or gamblers’ winnings.
Simple and verification-free setup process
NOWPayments is an incredibly simple-to-navigate service for iGaming companies. It offers a straightforward setup process that takes no more than a couple of minutes to complete. All that is needed is a NOWPayments account and a Horizen wallet.
Once you check these boxes, you can start accepting payments in no time. Another advantage of NOWPayments is that there are no formalities such as verification or identity check. Everything is done to make your journey to getting paid in the Horizen coin as smooth as possible.
Non-custodial transaction processing
All companies and individuals utilizing NOWPayments are guaranteed non-custodial processing of their transactions by default. This means that the service processes transactions without acting as a custodian of the client’s funds and instead instantly makes payouts to the address specified by the client.
NOWPayments is ideal for gambling companies looking for a reliable crypto payment gateway that will not store their crypto. At the same time, those businesses that find the custodial approach more convenient can always enable the custodial processing feature in their account. As part of the custodial service, NOWPayments will securely store the client’s funds in its own wallet until the client requests a withdrawal to their own address.
A variety of payment tools
NOWPayments offers a wide range of crypto payment tools, as well as over 150 different cryptocurrencies for its clients to accept as payment. This makes it easy for gambling services to accept payments from a wide variety of crypto users.
iGaming companies are free to deploy as many cryptocurrencies as payment methods as they wish. What’s more, NOWPayments’ API is a versatile solution, providing users with multiple tools for accepting ZEN payments, including eCommerce plugins and payment links. NOWPayments also has an auto-conversion feature, allowing users to charge clients in the ZEN cryptocurrency but get the final payment in fiat.
How Can iGaming Companies Use NOWPayments?
NOWPayments delivers maximum utility to iGaming businesses by offering them two primary ways of accepting ZEN coin payments. Choose the one which fits you the most.
Basic custody flow and Mass Payouts
As the name suggests, the basic flow is fairly easy to set up for any iGaming service to start getting ZEN payments. By utilizing the basic custody API, gambling services can receive their clients’ funds using the company’s crypto address or the company’s NOWPayments account. When opting for the latter, users are free to withdraw their money from their NOWPayments balance at any moment. Additionally, gambling venues can take advantage of NOWPayments’ Mass Payouts API to quickly send payouts to numerous recipients in a short period of time. Here is how you can utilize the basic custody flow:
- Create a NOWPayments account.
- Provide your ZEN payout address.
- Choose your preferred way of accepting payments.
In order to enable Mass Payments and the Custodial API in your account:
- Go to the “Custody” section.
- Read the Custody Solution user agreement, agree to the terms, and press “Continue.”
- Provide your IP address, which you plan to use to send salaries, check the box to agree to the Custody Solution terms, and press “Continue.”
- You may be shown a page saying that the Balances feature is temporarily unavailable for you, but it will be removed in a couple of minutes.
- Once the system is ready to process your transactions, it will show you the following page:
- Now, you will be able to make payouts in ZEN by uploading a .csv file.
The extended custody solution involves enabling the Recurring Custodial Payments feature. This feature provides gambling services with the ability to establish any number of billing accounts for each of their customers or users. The individual customers and users can then top up these accounts using the cryptocurrency of their choosing as a means of payment, including ZEN.
Here is how you can implement the Recurring Custodial Payments feature:
- Register an account on NOWPayments.
- Add your ZEN wallet address and generate an API key.
- Integrate the Recurring Custodial Payment API by following this guide.
- Create deposit accounts for your users via the Billing API.
- Set up a recurring payments plan.
- Allow your customers to top up their deposit accounts.
- Charge your users automatically based on their activity on your platform.
The Horizen cryptocurrency possesses the utmost efficiency and privacy. Such qualities make it perfect for gambling services. Any iGaming business can start accepting ZEN payments using NOWPayments.
Continue Reading about Horizen Payments
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