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Payment Gateways are Significant to the Growth of Bitcoin and Cryptocurrencies

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Payment Gateways are Significant to the Growth of Bitcoin and Cryptocurrencies

The speedy growth of the Bitcoin and crypto ecosystem is largely linked to the services of payment gateways that have provided a two-way access between the crypto and fiat world.

With mainstream transactions naturally linked to fiat currencies, participating in the developing world of crypto requires a medium of access which enables new entrants to gain access into the ecosystem. Even participants who are already actively involved in the crypto world always engage the services of payment gateways to achieve effective transactions.

An End-to-end Solution

Prominent within the world of crypto is one of the oldest payment gateways that serves crypto users across the continents, Cryptopay.

The company was founded in 2013 as a blockchain enabled payment gateway providing Bitcoin wallets, debit cards and innovative merchant processing solutions.

We have built an end-to-end solution to purchase, manage, and use crypto offering customer wallets, exchange services, merchant processing and crypto cards”, says George Basiladze, Cryptopay CEO.

In a world where the growth of a currency is measured by its level of adoption and demand, which is most often organically reflected in price, the increased adoption of Bitcoin and other cryptos is largely encouraged by the versatility of innovations enabling their proper application in the mainstream.

A Product for Convenience

Cryptopay offers crypto users a convenient way to buy, store and send money all over the world through their Bitcoin wallets and other FLEX accounts in EUR, GBP and USD. These FLEX accounts also make it easy for users to hedge their bitcoins against major currencies for peace of mind and security against price fluctuations.

One of the products which was also pioneered by Cryptopay that is significantly growing in popularity is the Cryptopay Debit Card.

The Cryptopay Debit Card is a tool that allows its holders to spend their cryptocurrencies anywhere in the world that Visa Debit Cards are accepted. It is both a virtual and plastic revenue resource that works online, offline and internationally, making it simple for customers to use bitcoin at millions of businesses around the world.

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Enhancing Crypto Fungibility

Despite the successes recorded so far by Cryptopay, it is continuing in its innovative advancement to cover a wider range of crypto users by expanding its services to include other cryptocurrencies.

Basiladze says:

“The Cryptopay gateway will be adding multiple crypto assets such as Ethereum, Ripple, and Litecoin just to name a few. This will in turn allow us offer a multi-asset debit card, which will continue to increase the fungibility with our customers.”

One of the fundamental properties that qualifies cryptocurrencies as money is their ability to be fungible. A property that enables one unit of an entity to be interchangeable with another is one of the most efficient catalysts towards speedy adoption.

Fungibility offers the highly needed flexibility, especially in an ecosystem that is filled with so many options like the world of cryptocurrencies. Being able to seamlessly apply the use of your preferred crypto asset from one central platform like Cryptopay offers a high level of convenience for crypto users. Therefore, the innovation by Cryptopay to add multiple assets to its platform is a massive step that will be welcomed by users.

ICO Born out of Public Demand

The existing services and projections for the future have encouraged users of Cryptopay to demand for an Initial Coin Offering (ICO), probably to enable them benefit from the value which the company is bringing to the industry.

“Currently, the company is stable and profitable, so there’s no actual need for money from an ICO, but we have received a lot of requests to launch one. It is a good opportunity to carry out an honest and transparent ICO that unlike any other is based not only on the white paper but on products that already work. We know the market, we know the audience, we get things done. That’s a promise”, says Basiladze.

The Cryptopay public token sale starts on October 2, 2017. This token sale will enable the planned expansion by Cryptopay as it plans to release other products such as brokerage services, current accounts and banking services, a P2P platform.

As Bitcoin and cryptocurrencies continue to progress towards mainstream adoption, the important roles of payment gateways cannot be overlooked.

Being able to buy, store and send bitcoin and other cryptocurrencies in a convenient and flexible manner with easy fungibility is a development that will always be welcomed by crypto users.

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