A general misconception with digital currency, which also creates confusion amongst the population, is that cryptocurrencies transactions are not easy, and are usually difficult to process and much more difficult to understand. The misunderstanding of such notions can be cleared by the awareness of Cryptocurrency exchanges, Cryptocurrency Wallets, and Multi-Cryptocurrency Payment Gateways.
Payment Gateways- Business Model
Before you get into the mode of understanding- multi-Cryptocurrency payment gateways you should be aware of what are – Payment Gateways?
They are online pages which capture the data of payment instrument between a merchant and consumer. They are usually the checkout pages, for such transactions, and capture the data in encrypted form and pass it to the payment processor. The processor, in turn, verifies or authenticates it and does the settlement of funds.
You may come across various Payment Gateways like-
APIs – Like- Coinbase, which can be embedded in the client’s website.
Hosted Pages- Like- bitpay, where customers are redirected from the original business page.
Horizontal Gateways- Like- BlueSnap, which are a composition of APIs and Hosted pages.
White Label Gateways- Like- MI-PAY.
And, Aggregators- Like-gate2play, where transactions are routed through multiple gateways.
What are Multi-Cryptocurrency Payment Gateways?
While Cryptocurrency exchanges allow you to buy, sell and trade digital currencies; Multi-Cryptocurrency Payments like- Wallets, permit