Blockchain technology has revolutionized the global financial infrastructure. At the same time, innovations have occurred not only in terms of progress but also in terms of earnings. Today, many traders trading currency quotes, stocks, futures, and other traditional financial tools are interested in crypto trading. This is largely due to the fact that the cryptocurrency market is still young. There is no clear dominance of institutional investors, and the high volatility of crypto assets reaching up to 1000% is the norm. All this creates heavenly conditions for skilled traders who are now forced to look for trading platforms that support cryptocurrencies. For this reason, the owners of trading companies are exploring the possibilities of receiving and sending cryptocurrencies using special services — crypto payment gateways. Read on about what a crypto payment gateway is, why NOWPayments is the best choice, and how to add crypto support to a trading platform.
- The crypto payment gateway allows you to accept and send cryptocurrency in a secure and efficient manner.
- Support of cryptocurrency allows trading platforms to keep up with the times and generate high income.
- NOWPayments is a premium crypto payment gateway that provides the best conditions for users.
What is a crypto payment gateway?
Crypto payment gateway is a service that allows you to accept payments in cryptocurrency as easily as bank cards. The crypto payment gateway, or in other words, the processor, accepts and processes crypto payments and sends them to the client’s wallet (non-custodial) or stores them on the user account until the withdrawal request (custodial).
The service allows you to accept crypto payments and convert them to fiat, as well as vice versa accept fiat payments and convert them to cryptocurrency. Crypto payment gateways provide various integration tools for accepting crypto payments, such as e-commerce plugins, invoices, API, PoS terminal, and more. Thanks to this, users can accept crypto payments on any website, in an app, on CMS platforms, or even offline. In addition, with the help of a crypto payment gateway, business owners can organize mass payouts in cryptocurrency.
Why do trading platforms need crypto payments?
Despite crypto winter, cryptocurrency does not lose its popularity and has been the main trend in recent years. More and more people are exploring crypto trading because the volatility of cryptocurrencies allows getting a big profit that is not comparable to the profit from trading stocks, options, or fiat currencies.
For this reason, many trading platforms are expanding the list of available financial tools in order to gain access to the widest possible audience. Traders are more inclined to choose the platform that has the most extensive tool kit. As the saying goes, demand generates supply. If you don’t cover the demand, someone else will definitely.
In addition, cryptocurrency is a decentralized financial tool that allows you to make transactions without the participation of banks and other monetary structures. Thanks to this, trading platforms can eliminate the need to mess with paperwork that goes hand in hand with traditional financial tools. You will no longer have to wait for a response from the bank, experience delays or account freezes, or pay high fees for the opportunity to accept traders’ money. Crypto payment gateways provide a hassle-free and cost-effective way to integrate crypto support, allowing your business to flourish and benefit from all the benefits of a new generation of finance.
Why should trading platforms try NOWPayments?
NOWPayments is a trusted crypto payment gateway that compares favorably with competitors. Our service was created in 2019, and over the years of service has managed to gain the trust of business owners. The main advantages of NOWPayments are first-class quality, transparency, attractive conditions for users, as well as a constantly developing and improving service. We have created a flexible, customer-oriented platform that allows you to process crypto payments even easier and more cost-effective than fiat payments. Our distinctive features are
- 100% free integration;
- support for more than 150 cryptocurrencies;
- instant fee-less payouts;
- the lowest service fee on the market — 0.5%;
- the possibility of a 20-minute rate freeze;
- highly customized solutions;
- fiat settlement
- 24/7/365 support and personal account manager;
- custodial and non-custodial solutions.
How can trading companies send crypto with NOWPayments?
With NOWPayments, trading platforms can start accepting and sending cryptocurrencies in a matter of minutes. Our service provides the best user experience and easy-to-integrate tools. Trading platforms can easily enable our lightweight Mass Payout API tool to ensure the most efficient transfers and payments with cryptocurrencies.
Mass Payouts API
Mass Payout API is a set of code that allows you to implement a crypto payment gateway on your trading platform. With NOWPayments, you can create deposit accounts for traders, which they can top up in more than 100 coins. Mass Payout API allows you to receive instant deposits from traders and also make automatic payouts. Mass Payout API has a custodial flow and allows you to significantly save on network fees and provide instant automatic payments. To enable a Mass Payout API, follow these steps:
- Create your NOWPayments account.
- Navigate to “Settings” >> “Payments Settings”.
- Add your crypto wallet and create an API key.
- Navigate to the “Custody” section.
- Check the box that says “I have read and accepted Custody Solution user agreement” and click “Continue”.
- Whitelist your IP addresses:
- You can include your current IP address automatically by checking the box as well as you can add other IP addresses.
- Please remember that to change or add IP addresses in the future, you will have to make an official request to [email protected]!
- Check the box that says, “I intend to include the aforementioned IP address(es) to whitelist and take all the risks related to it”, and click “Continue”.
- You will see a message “Your balances are safe but temporarily unavailable”.
- Deposit your cryptocurrency into your account.
- Go to the Custody section and click on the “Create Mass payout” button
- Upload the .csv file with the wallet addresses and the amount you want them to receive.
- Click “Proceed.”
- NOWPayments will send all these payments to the recipients automatically.
- Done! Now you can receive instant deposits, make automatic payouts of profit by the request of users, and withdraw your profit.
We are always happy to cooperate and develop a ready-made solution for your unique trading platform. Just contact us, and we will design a solution for your specific wishes and needs.
There’s another NOWPayments’ tool that will work great for Trading platforms — stay tuned for Part 2!
NOWPayments is a leading crypto payment gateway that provides premium quality, competitively low fees, and advanced integration tools. With our service, you can seamlessly add cryptocurrency support to your trading platform and benefit from attracting a multi-million community of crypto traders.