NOWPayments Tech Updates

NOWPayments Tech Update

It is the end of the week, which means, we are bringing out a technical update. We work on adding new things to the service every day, and we want to share that with the world, in order to be more transparent with our clients! 

So, here are some of the cool things we’ve done in the past week:

  1. We have added NANO to the list of supported coins! It is amazing to see the list growing that fast!
  2. We have lowered our minimum exchange amounts for Neo’s GAS! Now you can exchange just around $2 worth of the token!
  3. We started supporting Waves!
  4. We’ve got a new feature – IPN request tracking! Now we will be doing an even better job of helping people out with our service.
  5. We have updated our get payment status procedure, we’ve added in the quantity and the currency that our merchants receive payments in.

Wasn’t that a good job that we did? But we are not taking a rest! Here is what we are currently working on:

  1. The possibility to create several payout wallets.
  2. We are adding yet another coin – third in the past two weeks – ETC!
  3. A new feature that will let your clients pay for one order with several transactions.
  4. Two-factor authentification. 

That is it for today, we hope you are just as excited about our recent and upcoming updates as we are! If you need any help with integration or have any technical questions, you are always welcome to contact the NOWPayments Business Development Manager – Xena. You can find her on Telegram: @xenaNOW.

Accept Payments in HT, the Huobi Token, on NOWPayments

Accept Payments in HT, the Huobi Token, on NOWPayments

The easiest payment solution to accept crypto is now proud to accept Huobi Token (HT).  This token was launched by the famous Singapore based exchange Huobi, allowing you to do many things such as get rewarded for holding the tokens, have reduced fees when exchanging crypto on the platform. Get invited to Huobi events, you can check out more information about their token here.

How is NOWPayments the easiest way for you to accept crypto payments?

With its API plugin, NOWPayments allows you to accept crypto as easy as 1-2-3. NOWPayments allows you to seamlessly integrate the solution to your webpage and by using its CMS plugin, you can integrate NOWPayments fully into your web store. Log in to NOWPayments to register, and you’re already halfway done.  NOWPayments is a safe and noncustodial service that allows you to be paid in the cryptocurrency of your choice. Your payments – your way.

Using NOWPayments, you can also accept donations on your webpage, Setup NOWPayments on your webpage, and start accepting Huobi Token in donations today!  Check out this link here to set up your donation button. 

1. Registering on the NOWPayments non-custodial system, allows you to send payments directly to your OWN address.

2. Using NOWPayments easily integrated API,  you can set up payments in minutes on your webpage.

3. Once set up, let your clients pay in crypto!

With NOWPayments, you can let your users pay you in the available crypto’s like Huobi token, but you can choose to only accept Bitcoin, NOWPayments does the rest for you, making it the easiest way for you to accept the currency you want!

To get started accepting Huobi Token, create an account or sign in, set up your merchant account, but the address of your chosen currency and accept today!

Step 1:Set up the price in fiat currency,
Step 2: NOWPayments will calculate in real-time what that price is, with the selected currency, 
Step 3: You receive payment in the currency of your choice.

Do your business NOW, and let us worry about making payments work for you.

NOWPayments Tech Updates

NOWPayments’ Tech Update

It is the end of the week, which means, we are bringing out a technical update! We work on adding new things to the service every day, and we want to share that with the world, in order to be more transparent with our clients! 

So, here are some of the cool things we’ve done in the past week:

  1. New feature – payment cover.

This feature lets our merchants chose a percentage of the payments that they will consider as “finished”.

Here is an example to make you understand it better:

If you created a payment that is worth $10 and chose a 1% payment cover, then when a client sends you $9.90, his payment will still be considered as “finished”. This situation can occur if your client forgets to include the network fee into the amount that he is sending, so the fee is taken away from the full price of your product that he has sent.

It is important to note that the Payment cover percentage is calculated from the ‘Pay Price” parametre and is compared to the amount of cryptocurrency that the user sent in. 

2. Payment markup.

This feature lets our merchants set an additional percentage to their payments.

An example: you’ve created a payment that is worth $100. Your payment markup is set to 5%. Your payment will be created for $105 in your chosen currency. This will help you as a merchant to avoid market risks and coin’s volatility. 

It is important to note that if you are creating payments through API, then the percent will be added only if you don’t set the pay_amount yourself. All that you need to set is price_currency, price_amount, pay_currency, and the pay_amount will be automatically calculated considering the payment markup. We have upgraded the ‘get estimated price’ method.

3. We have renewed our status notifications for partially paid transactions. Now, you can see the amount of cryptocurrency that your client sent you in response to your status request or through the IPN.

4. We have upgraded our FAQ

Read up on all the new information!

5. We have introduced new minimal payment amounts for BTC, ETH, DGB, LTC, XLM, XRP, ZEC, KMD, BNBMAINNET, DASH, TRX, DGD, EOS, XMR, BCH, ZEN, XZC, XVG, TUSD, QTUM, FUN, BTG, BCD, and BAT!

You can read more about it in our dedicated blogpost.

6. We have added an option to create custom donation links!

This was a feature developed especially for our Australian Fires relief campaign, you can check out the link here: nowpayments.io/donation/bushfire-relief/

If you want to start accepting donations with a custom link, you can contact our Business Development Manager Xena on Telegram here: @XenaNOW

Whew! That was a lot of news. But we are not taking a rest! Here is what we are currently working on:

  1. A feature that will let you see the total amount of crypto that you have received through the API or with our WHMC and WOoCommerce plugins (in payment settings).
  2. The possibility to create several payout wallets.
  3. Adding new supported coins – WAVES and ETC! We always strive to bring our merchants as many options as possible.
  4. A new feature that will let your clients pay for one order with several transactions.
  5. Two-factor authentification. 

That is it for today, we hope you are just as excited about our recent and upcoming updates as we are! If you need any help with integration or have any technical questions, you are always welcome to contact the NOWPayments Business Development Manager – Xena. You can find her on Telegram: @xenaNOW.

New Minimal Payment Amounts!

New Minimal Payment Amounts!

NOWPayments is happy to announce a huge update – we’ve significantly lowered our minimum payment amounts for 24 coins!

From now on, you can accept around $2 worth of these amazing cryptos: 

BTC, ETH, DGB, LTC, XLM, XRP, ZEC, KMD, BNBMAINNET, DASH, TRX, DGD, EOS, XMR, BCH, ZEN, XZC, XVG, TUSD, QTUM, FUN, BTG, BCD, and BAT!

Impressive, right? 

NOWPayments always holds our clients’ best interests at heart, so it was important to make ourselves as accessible as possible for any merchant out there.

The possibility to accept such small amounts opens up opportunities for merchants whose products’ prices are more affordable. That shouldn’t be a limit in your intentions to accept crypto!

We are celebrating this update and hope that you are, too, but the work doesn’t stop. We already can’t wait to introduce these low amounts to more of our coins!

Follow our social media to keep a lookout for your favorite coin, if it’s not already there: our Twitter, or Medium will help you learn about it first!

What Are Stablecoins and How Do They Work?

What Are Stablecoins and How Do They Work?

One of the big reasons people use cryptocurrencies, and why other people hate cryptocurrencies, is the volatility. Ten years ago, a bitcoin was worth just a couple cents. Nowadays, one bitcoin is sold for more than 7,000 dollars, that’s a really big change. In one day, prices can fluctuate with hundreds, if not thousands, of dollars. That’s really difficult when you’re using it as a means of payment. The 5$ sandwich you just bought might turn out to become a 10$ sandwich in just a couple hours. The people in the blockchain industry saw this happening and thought of a solution to this issue. The first thought might be, isn’t the solution the traditional FIAT-currencies? Well, they kind of are but at the same time they are the system that cryptocurrency is battling, so why’d we support that?

Stablecoins

Then came a new term; ‘stablecoins’. Basically, the term explains itself, it’s a coin that remains stable. This means it will always hold the same value. So, whenever you are confident the crypto you are holding is up for a rollercoaster-ride downwards, you sell your crypto for a stablecoin and you will secure your valuables. Now, many questions might pop up immediately, how do you maintain this value and what kind of stablecoins are there? Let’s find out, shall we!

How does a stablecoin remain its value?

You decided you want to buy a stablecoin in order to keep the value of your holdings at the same level, great. With that, you are wondering how all of this works behind the scenes. In general, stablecoins remain their value because of the collateral item or asset that’s attached to the stablecoin. The goal for the stablecoin is to have its value never exceed the value of the collateral in reserve, to put trust in the way people can use these stablecoins. There are no mine-able stablecoins not are they pre-mined by any central party, stablecoins are created to supply the market and its investors with a trading angle at any time. All the properties of the traditional markets are suddenly available to the cryptocurrency world, low costs, high-speed and secured value. 

There are dozens of different stablecoins nowadays and they all work in a slightly different way. To answer the question of how they retain their value, we should categorize these stablecoins to where they belong. The available options are;

  • Fiat-backed
  • Commodity backed
  • Cryptocurrency backed
  • Algorithm backed

Fiat-backed

These are the more traditional stablecoins. The first stablecoins that were ever created are backed to the US dollar. Nowadays, there are more FIAT-backed stablecoins that are pegged to the value of several other fiat-currencies like the Euro or the Great British Pound. The value of these coins is pegged to the fiat currency. In the case of Tether (USDT), one USDT = one USD. This will always remain the same, the only thing that changes is the circulating supply. Whenever the stablecoin is exchanged back to the US dollar, the coin is burned and does no longer exist. The problem here is, the coin is centralized. It’s an off-chain solution that requires the collateral to be held in custodian by one central organ. We have seen it happening with Tether that people did not longer trust the company behind Tether, Bitfinex, to hold the precise amount of dollars pegged to the circulating supply. An external party performed an audit to confirm they did have the required dollars as collateral.

Another example of a fiat-backed stablecoin is Facebook’s libra. They have announced that their plan is to have their stablecoin backed to the value of multiple fiat-currencies like the US dollar, the Euro, Japanese Yen, Pound sterling and the Singapore dollar. This will keep its value stable at all times, no matter the situation of the individual currencies. 

Commodity backed

This kind of stablecoins are not backed by traditional money, they are backed by commodities like gold, oil or whatever else you could think off. In practice, most of these currencies come back to the traditional precious metals like gold and silver. The value of these commodities can fluctuate quite a bit, but it’s another way of investing in these precious metals without actually having to own these precious metals. A downside is the centralized nature of these stablecoins. Especially when it comes to commodities, they should be available for constant audits by external parties, to see if they actually have the number of commodities they claim to have.

Last year, we saw another attempt at creating a new stablecoin. Venezuela announced its ‘Petro’, which should replace their nation’s fiat currency for a new virtual coin, the Petro. The coin was supposed to be backed by the oil-reserve in the country. It’s unclear whether this is true, but the Venezuelan government is forcing the use of the Petro fiercely. 

Cryptocurrency-backed

Because of all the centralized stablecoins, the real decentralized warriors thought it was time for a change. Instead of trusting your money with a centralized party like the traditional system, they thought it was time for a decentralized alternative. In this case, the stablecoin is backed by a cryptocurrency, usually by means of a smartcontract. These are the more complicated stablecoins with extremely innovative systems that will stabilize the value of the currency. For example, the stablecoin DAI, a soft-pegged stablecoin that’s hosted on top of the Ethereum blockchain. If you want to create DAI, you need to deposit some Ethereum into a smart-contract that goes by the name “collateralized debt position”. The system under the hood is extremely complicated and tough to understand, although it’s completely transparent. Anyone can take a look at what’s happening and even vote about upcoming changes and such. As of the recent upgrade that was voted by all the holders, DAI is now backed by multiple assets and the single-collateral version is now known as SAI. Innovation.

Algorithm backed

This is difficult. It’s a system that’s supposed to be the alternative to the traditional economic models that we now today. But, it’s really hard to keep things afloat as regulatory concerns are tough to keep up with. With this stablecoin, there’s nothing backing up the value of the coin. It’s simply working with supply and demand and complex algorithms that increase and decrease the value of the coin. There have been several attempts of creating such stablecoins with all of them having a slightly different idea of what the model should be. One example is Basis, which sadly announced they will return their raised capital to their investors. Things didn’t work out as they planned and even though they raised 133 million, they could not find a way to get the system rolling. 

Stablecoins are very interesting for anyone in the cryptocurrency industry. If you want to catch a trade at the right time, you can hold some of your belongings in stablecoins to keep the same value and jump in at the right time. Or, you want to use cryptocurrencies to make payments but you do not wish to have your value fluctuate all the time, then stablecoins are your way to go as well. You might wonder, what are the best stablecoins out there? That’s what we’ll zoom in on in our next article!

Get BCD for Bringing NOWPayments a Merchant!

Get BCD for Bringing NOWPayments a Merchant!

In the light of our partnership with Bitcoin Diamond, we are here to tell you about our affiliate program, how exactly does it work and how much money can you get from it!

This type of partnership between you and NOWPayments offers an opportunity to get instant profit and a source of a passive income! All you have to do is cooperate with NOWPayments by introducing a merchant to our service.

The idea is simple: establish our connection with a merchant — wait until they become our partner — get your reward!

A person who’s introduced NOWPayments to a merchant receives $25 in BCD (in a single payment) and 0,2% worth of each exchange* of the said merchant (for a lifetime!). BCD reward is paid after the integration is completed and the first transaction is made!

If a merchant decided to use our button, widget, or plugin, for the reward to be made, we need to see them on the merchant’s website. 

BCD reward is paid only to the first 20 partners. All the following partners will receive 0,2% from each merchant’s exchange.

Reach out to us at [email protected] for further details.

*By “exchange” we mean the following: When a merchant chooses to accept payments in one cryptocurrency, and the client is paying them in a different one, the process of automatic coin conversion happens. There is a small fee on that automatic exchange, and the affiliate program participant receives 0.2% off of the revenue that is received by the exchange platform.

Top 10 Crypto-friendly Countries

Top 10 Crypto-friendly Countries

Recently, we wrote an article about the countries where cryptocurrency is most popular among citizens. Now, that’s one thing to look at when observing whether a country is welcoming cryptocurrency. The other aspect is the acceptance of businesses in the cryptocurrency space, how crypto-friendly are these countries. Today, we look at the top 10 countries where it’s the most convenient to start your business as a cryptocurrency business. In terms of taxes, regulations, and acceptance by the government in general. Note, this does not mean that in this country crypto is being used the most, but where you’ll be best off when starting your own business in the crypto industry. 

10. Japan

We go back many years to the moment cryptocurrency was not more than just a couple of coins, Bitcoin is the biggest one. At that point, it wasn’t as common to buy Bitcoin anywhere you want. Back then, the now notorious exchange Mt. Gox was created in Japan. The exchange later collapsed and lots of people lost their precious Bitcoin, but back then you could already see Japan being one of the countries where crypto could have a future. 

At this point, there are more than 32 exchanges that have been accepted to exist by the government, some even with backing in terms of investment by Japan’s banks. For example, BitFlyer received investment capital from all three of Japan’s largest banks; Mitsubishi UFJ, Sumitomo Mitsui and Mizuho Banking Corporation. This only shows how much trust the entire country has in blockchain technology as a whole. The taxes are pretty convenient and are taxed the same way as any asset you can trade, but the spending of cryptocurrencies do not require any taxes to be paid. 

9. Belarus

We step down in the size of the country, as Belarus has nearly 10 million people living in this Eastern-European country. One of the main factors why cryptocurrencies are working in this country is the acceptance of the government. They have announced to start embracing blockchain technology in order to attract foreign businesses. In late 2017, the president released a detailed plan describing how this crypto-business would make their way to the country. There’s one catch, most of the benefits that you can enjoy as a crypto business in Belarus only apply when you’re registered as residents in the Hi-Tech Park, a special zone in the capital Minsk. 

There’s one topic that’s really convenient for Belarus citizens in combination with crypto; Taxes. There are no taxes until January of 2023 on any practice when it comes to crypto. Meaning, you could be spending crypto, mining, trading, lending or whatever you want to do with it, but you would not have to pay any taxes at all. One problem though, it’s not regarded as legal tender yet, so paying with cryptocurrency can be somewhat of a hassle for individuals. 

8. Georgia

Georgia is not to be misunderstood for the American State that goes by the same name. Georgia is an Eastern-European country with roughly 4 million people living there. It’s a relatively big country with lots of rural lands. Their capital, Tbilisi, similar to Minsk in Belarus is supposed to be the attracting point for many businesses to start their practices. There is one really big company located in the city, Bitfury Mining Facility. This is the main reason why Georgia has the second-highest Bitcoin Mining hash rate in the world, just after China. This was published in 2017, so things could have changed since then. 

The reason why companies love Tbilisi is the fact that there’s a Poti free zone, which means there are different laws and regulations. Taxes are extremely convenient for businesses as there is no VAT, dividend, profit or property tax. Similar to Belarus, blockchain is welcomed with open arms when it comes to businesses, but the payment of crypto is not fully regulated yet.

7. Estonia

With just 1.3 million people, Estonia is a pretty small country. Now, there are lots of talented people that live in the country and the country is known for being technologically advanced on another level. A company that most of us will know, Skype, was created in Estonia. The country is rated number four in terms of economic freedom in Europe and the ease of doing business is ranked number twelve in the entire world. 

The country prides itself on being at the forefront of any digital revolution. With a small population, it’s easier to make changes. In 2005, the country implemented internet voting. In basically any other country in the world, people are still voting with pieces of paper and a pen. There are even rumors that the government has plans to start their ‘Estcoin’. When you start a business, you can apply for an e-residency. This makes it possible for companies to start their business in Estonia, without having to live there or even have an office there. This makes it extremely easy for a business to start a company under the Estonian roof. 

6. Luxembourg

A tiny country in between Belgium and France, Luxembourg. Some might have never heard of the country, but it has been one of the countries where there’s lots of wealth. One of the reasons for this is their friendly position towards taxes. One of the biggest blockchain companies in the industry for years, Blockchain.Info, has its headquarters located in Luxembourg. With only 600,000 people living there, it’s not as hard to cause adoption. 

Back in 2014, their financial commission was one of the first official financial regulators in the world to give an official statement on cryptocurrencies. They released their ‘Bitcoin Communique’ years back describing their awareness of the emerging technology. In terms of taxes, cryptocurrencies are treated as intangible assets so you do not pay any income taxes until you’re exchanging them for FIAT-currencies. When making payments with crypto, you do not have to pay any VAT taxes. 

5. Hong-Kong

Hong Kong is a special administrative region of China, which has been the main point of discussion for the past few months. Because of their position, the laws and regulations are slightly different than China. Hong-Kong is the home to many businesses in the crypto industry such as Bitmex and Bitfinex. This goes by no surprise as Hong-Kong is widely known for its strong position when it comes to financial markets. All major banks in the world have offices in the country and since 1995, their economy is seen as the freest in the world.

Hong-Kong has a group called the Bitcoin Association of Hong Kong. They attempt to make it as easy as possible for a business to operate in the industry. This is being done with an easy stance towards the taxes, as it’s unregulated by the existing financial watchdogs. Back in 2018, the major financial regulator in Hong Kong mentioned Bitcoin had no visible impact in the areas of money laundering and terrorist financing, securing the position of crypto in general. 

4. Singapore

As one of the few Asian countries on this list, Singapore is an island that is different on many levels. Whereas lots of their surrounding countries are not as developed, Singapore prides itself on being the most ‘Technology-ready’ nation in the world. Besides that, the country is known for being a tax haven and one of the centers for the financial world. The Singaporean economy was rated as the most innovative, dynamic, competitive and most business-friendly in the world. With a country that is the least corrupt in the world, there lay a ton of opportunities. 

The beauty in Singapore is the fact that there is no Capital gains tax active, which is common when investing in cryptocurrencies for a longer period of time. For payments in cryptocurrencies, there’s an active tax of 7%. 

3. Bermuda

Now we get to the places where the real money is hidden in this world. As a former colony of Britain, Bermuda is known for being a wealthy place. There are only 65,000 residents, but tons of financial companies operate from the island. The reason for this is because there are no VAT taxes, no corporate, income, wealth or capital gain taxes. The only active taxes are a minimal payroll tax, only around 10%. The island is not that big, so not that much money is necessary to keep things floating. 

Reportedly, Bermuda has the highest GDP per capita in the world. Main reason for this is the fact that loads of wealthy people move to the island to enjoy the weather and the friendly tax laws. Fun fact; there are over 15,000 companies registered in Bermuda without any physical presence or employees there. When it comes to crypto, there’s one business with evident ties to the island; Binance. They have invested 15 million dollars into the development of the island and its stance on Blockchain. 

2. Switzerland

Being known as one of the most neutral countries in the world, Switzerland is also known for being a wealthy country that has been supporting emerging businesses for years. There are some companies such as Shapeshift and Xapo that are located in a town called ‘Zug’. There’s a ton of other crypto companies that are located there. Because of this, the region is known as the ‘Crypto Valley’. In this region, Bitcoin can be used as a payment method for utility bills. The country is ranked number one in terms of economic productivity and competitiveness, making it hard to operate but welcoming to talent as well. 

Any crypto you hold in Switzerland should be declared and you need to pay wealth taxes, valued at the year-end prices provided by the Swiss officials. Other kinds of taxes only apply to those who trade cryptocurrency for their profession. Switzerland is known as an ‘unofficial’ tax haven for cryptocurrencies. In all honesty, the situations are better in other countries, but it’s surely welcoming towards crypto-businesses. 

1. Malta

Malta is an island of controversy. Their government is in love with attracting wealth from all across the world and are doing so by allowing a business to basically do whatever they want. With only 450000 people living on 316 square kilometers, Malta is a very densely populated country. Malta became popular in crypto-land when Binance announced to move its operations to the island. This is mainly because the government of Malta created a regulatory framework for the crypto business. In this framework, businesses in the crypto industry receive all the guidance and assistance they might need. The Maltese president announced that they want to become the ‘Blockchain Island’. 

The controversial part is, the Bank of Valletta has suspended cryptocurrency transactions in November 2017. They do not wish to participate in all the innovation surrounding Bitcoin and whatnot, but the government responded to this. They mentioned that “The rise of cryptocurrencies can be slowed, but cannot be stopped” 

There you have it. Are you interested in starting your own business and looking for a place where to register your company? Are you looking to enjoy some of these generous taxes? Go ahead and enjoy yourself!

Bring NOWPayments a merchant – get paid in ZEN!

Bring NOWPayments a merchant – get paid in ZEN!

In the light of our partnership with Horizen, we are here to tell you about our affiliate program, how exactly does it work and how much money can you get from it!

This type of partnership between you and NOWPayments offers an opportunity to get instant profit and a source of a passive income! All you have to do is cooperate with NOWPayments by introducing a merchant to our service.

The idea is simple: establish our connection with a merchant — wait until they become our partner — get your reward!

A person who’s introduced NOWPayments to a merchant receives $25 in ZEN (in a single payment) and 0,2% worth of each exchange* of the said merchant (for a lifetime!). ZEN reward is paid after the integration is completed and the first transaction is made!

If a merchant decided to use our button, widget, or plugin, for the reward to be made, we need to see them on the merchant’s website. 

ZEN reward is paid only to the first 20 partners. All the following partners will receive 0,2% from each merchant’s exchange.

Reach out to us at [email protected] for further details.

*By “exchange” we mean the following: When a merchant chooses to accept payments in one cryptocurrency, and the client is paying them in a different one, the process of automatic coin conversion happens. There is a small fee on that automatic exchange, and the affiliate program participant receives 0.2% off of the revenue that is received by the exchange platform.

How to Accept Payments in Verge?

How to Accept Payments in Verge?

Today’s article is going to be talking about how to accept Verge coin (XVG) with the help of NOWPayments

Why exactly Verge? 

Well, we think it is quite the coin to keep an eye on! It originated all the way back in 2014, as a fork of the legendary memecoin DOGE, under the name of DogeCoin Dark, which later got rebranded into Verge. Ever since the moment of creation, the coin’s main value and goal was maximum privacy for its users. 

Verge transactions can be performed without disguising your IP, which leads to showing your location and identity. With Verge, your transactions are fast, reliable and 100% private, thanks to their unique Wraith Protocol.

NOWPayments is happy to be partners with Verge, as we share the security values by being non-custodial! We don’t hold any of the money transmitted though our service and also don’t display the merchant’s recipient wallet address to anyone but him, but he can also always switch the address in case of any concerns. Integrating NOWPayments is very easy, you can start accepting XVG in just a couple of steps! 

Let’s look into the NOWpayments integration process: 

API

The easiest way of integrating the NOWPayments solution into any website out there is by using our API. It’s an easy and efficient way of adding our payment processing mechanism. The steps are simple;

  1. Create an account on the NOWPayments account page;
  2. Activate your account via the email that we have sent you;
  3. Sign-in into your account and open the Dashboard Page;
  4. Go to the ‘Store settings tab’ and press “Add a new key”; 
  5. You will get an API key. Save it somewhere safe;
  6. Create a wallet for the currencies you want to accept;
  7. Go to the “Outcome wallet” section in the “Store settings” page;
  8. Add the wallet address and select XVG as payout!
  9. Start using our solution and enjoy accepting Verge!

WooCommerse Plugin

You can also accept cryptos using our WooCommerse plugin! It allows your web stores built on WordPress to accept payments in 35 popular cryptos! The list is growing weekly.

All you need to use it is to sign up for a NOWPayments account, configure your store settings: choose an XVG wallet address and generate API Key, then, install WooCommerce plugin! 

Installation Process:

  1. Upload the nowpayments-payment-gateway-for-woocommerce directory to the /wp-content/plugins/ directory.
  2. Activate the plugin through the “Plugins” menu in WordPress.
  3. In the WooCommerce “Settings” page go to the “Payment Gateways” tab, then click “NOWPayments”
  4. Check “Enable NOWPayments” and enter your NOWPayments API Key.
  5. Click “Save changes” and the gateway will be active.

Donation Widget

Another feature that we offer is the ‘Donation Widget’ with the ‘Donation Button’.

This feature allows you to accept cryptocurrencies as a form of donation, which can be used for more personal needs. Integrating it is, again, very easy, all you need to do is generate a key, choose an XVG wallet address and go to the donation page!  This will bring you a piece of source code that you can add to your website, now you can accept crypto donations!

Now you have yourself three whole ways to start accepting one of the most private and safe coins out there for personal or business needs!

If you have any questions, you can always hit up our Business Development Manager Xena on Telegram @xenaNOW! 🙂

On the Verge of Currency

On the Verge of Currency

In epochs long gone, people bartered and traded services for goods, religious classes giving value to non-necessities in order to appease the gods and make themselves comfortable.  This gave way to monarchs and kings, descendants of the gods, controlling the source of wealth by creating coins with their image and ensuring people used it, through force and laws.  Through the ensuring time, Monarchies and theocracy gave way to democracy and despotic rule. The one constant variable being that currency was still being controlled by an entity, political, personal, ideological.

Enter the 1980’s when David Chaum created the predecessor to Bitcoin, the first use cryptography to sign a transaction. 10 years later, Digicash emerged, the first digital version of cash, before bitcoin. Digicash promised anonymity but partially failed because it was not convenient. The lesson learned:  Customers prefer convenience over privacy.

Move over to the mid-1990s to the early 2000s where E-gold at its popular height was used by over 1 million people. Its platform was built over micropayments which were worth tiny fractions of gold. One of its use was to send bloggers rewards, similar to how Brave Browser tipping works today. After reaching a market capitalization of over 2 billion USD, hackers started attacking users through Internet explorer and the centralized exchanges e-gold was being stored on. Eventually ending the project. Another lesson to learn from this: don’t leave your coins on exchanges.  Or in modern crypto speech, not your keys, not your coins.

Enter Bitcoin. Learning from the previous attempts at creating the digital currency, the person (or collective) (not Craig Wright) behind Bitcoin allowed people using a peer to peer network, to validate transactions on a ledger.  Bitcoin functions as the above projects, but uses a distributed ledger to validate all transactions, in order to keep it decentralized.  
The open-source and anonymous nature of this system made it the first real currency for the internet age. Being built, by people worldwide, and changes voted on by peers, bitcoin is the first truly international currency not controlled by governments. Bitcoin spawned many offshoots, many of which forgets the lesson of the earlier projects.  The major importance of Bitcoin, it is not owned and controlled by for-profit companies.

Enter Verge Currency, a completely distributed fork of bitcoin, Verge is being built as a digital currency, functioning on the cryptographic principles of Bitcoin, Verge provides location privacy through Tor and I2P, protecting users identity by allowing for anonymous wallet ownership.  Improving on many blockchains, projects, Verge’s next-generation wallets hold user-friendliness as a primary function.

You can verify the iOS wallet here, or help out the android version on GitHub here.

What makes Verge a great addition to the future of the cryptocurrency space, is that like bitcoin, it is open-source, the team are volunteers from around the world, and harness a global community of individuals, projects, and companies, helping them along the way.

The goal of the people contributing to the team, is as varied as their country of origins, of their background and goals. We all agree and disagree on various things, but we all agree on the fact that Verge is a Currency. We develop it for the purpose of a private self-own currency, where we encourage people to use the currency, as a replacement of fiat.

As many of Verge’s employees are internationals, living outside of our home countries, expats and immigrants, we understand that changing currencies for another is always costly, time-consuming and confusing. Having something like Verge with built-in privacy allows us to use one currency in many countries.  And with hundreds of companies accepting Verge, from flights to entertainment, there is no reason why in the near future, people can live with Verge as a source of currency.

Because in the end, the goal is to remove power from one group/entity and to give back power to the people. Let the people decide what they want to spend on, whom they want to share it with.  Why should your bank know that you go to McDonalds every Monday, after going to the gym? They shouldn’t. Verge is there for this, but also for the people trying to earn a living while their government makes terribly repressive decisions.  Verge is a Currency, it is fast, it is publicly developed, the transactions are private.

For all of these described reasons, NOWPayments is happy to be supporting Verge and offering it for our clients to accept cryptocurrency in. Join us now, for a smooth and safe crypto experience!