│ CoinPayments Overview
Cryptocurrencies are highly valuable in the market. Investors all over the globe are becoming keener on cryptocurrencies. When you buy cryptocurrencies, they also need to be stored safely.
You can always save cryptocurrencies from the exchange that you bought them from. But the crypto exchanges are not always a secure place. There’s nothing more reliable than a digital wallet to store your crypto holdings.
CoinPayments is a reliable digital wallet to store your crypto holdings. The platform also lets you send and receive their cryptocurrencies without high fees. Read our CoinPayments review to know more about its features, cost, and more.
|CoinPayments – Best for cryptocurrency management||Do you need a reliable digital wallet to manage your crypto holdings? CoinPayments is one of the best choices for cryptocurrency management.|
│ Pros and Cons of CoinPayments
A major advantage of the platform is faster transactions. The GAP600 instant confirmations increase the speed of CoinPayments more than other conventional wallets.
Ease of Use
The platform is intuitive and easy to navigate, even for beginners. The website ensures that accepting or sending crypto payments becomes seamless.
CoinPayments allows users to make international transactions to various countries around the globe.
The platform uses top-notch security measures to enhance the safety of your assets. The two-factor authentication provides huge relief to most investors.
Lack of Coin Details
Some users complain about the lack of information about the various coins on the platform. They need to perform research about the coins on some other platform.
Since CoinPayments is a custodial wallet, the platform hold the private keys of all users. The platform also holds all the assets on behalf of the users. Users need to trust the company with their funds and might have less control over their assets.
|CoinPayments Advantages||CoinPayments Disadvantages|
|Instant confirmations guarantee faster transactions||No details about the supported cryptocurrencies|
|The platform is intuitive and enables seamless transactions||The custodial wallet stores and control the assets on behalf of users|
|Great for making or receiving cross-border crypto payments|
|Top-notch security measures, including two-factor authentication|
CoinPayments is one of the best platforms for making and receiving crypto payments.
│ What Is CoinPayments?
CoinPayments is a cryptocurrency platform based out of Vancouver. The online cryptocurrency wallet was founded in 2013. You will be easily able to transact more than 2350 cryptocurrencies like Bitcoin, Litecoin, Ethereum, and more.
The platform established itself as an industry leader with secure, fast, and easy-to-integrate solutions. CoinPayments can be used by all merchants accepting crypto payments. Some solutions offered by the platform include e-commerce shopping cart plugins, custom-made APIs, PoS interfaces, payment buttons, and more.
The wallet has partnerships with almost every leading e-commerce platform, including Magento, Shopify, Opencart, WooCommerce, Prestashop, and more. The wallet has processed over $10 billion in cryptocurrency payments. It has served more than 70,000 merchants in more than 200 countries worldwide.
CoinPayments has established itself as an effective crypto payment platform worldwide. It only charges a flat commission of 0.5%. Therefore, it is one of the cheapest payment platforms in the crypto industry.
|Wallet Type||Hot Wallet|
|Accepted Cryptocurrencies||More than 2350|
Are you looking for an easy-to-use platform to sell, purchase, and exchange crypto coins? Install CoinPayments now!
│ How Does CoinPayments Work?
You need to create an account on CoinPayments to enjoy all its features. Users can choose between a Personal or Business account. After creating the account, it needs to be verified using the activation link sent by email.
Once the account is verified, users should log in using their credentials. You need to configure your merchant ID, IPN, and other fields to start with sending and receiving payments. The steps for account configuration are as follows:
- Select Account Settings on the Account tab.
- You will find your Merchant ID in the Basic Settings tab. Copy or save the merchant ID for later reference.
- You must add your email id, name, and URL for customers to send payments in the Public Info tab.
- Head to the Login and Security tab. Change the 2FA method to Google Authenticator or another option.
- Users must enter their IPN secret code in the Merchant Settings tab. The IPN includes a random series of characters. You should store the IPN somewhere safe.
- Remember to select the base currency. You should also choose what email notifications you wish to receive.
Once you are done with the process, focus on customizing the Coins settings. It will ensure that you only receive crypto coins that you wish to receive as payments. You can change the coin acceptance settings in the Account tab.
By checking the box next to each cryptocurrency, you can choose which ones you want to accept. After making your selections, don’t forget to click on update coin preferences. The remaining adjustments can be made afterwards.
|CoinPayments was established in 2013 to serve as an online wallet and digital asset payment tool.|
|CoinPayments supports integrations with the leading e-commerce platforms all over the world.|
|CoinPayments offers technological features like PoS interfaces, $PayByName, shopping cart plugins, APIs, and more.|
|The platform supports more than 2350 cryptocurrencies, including the leading ones like Bitcoin and Ethereum.|
|CoinPayments enables fiat currency settlements for customers in the US and the UK.|
|The platform has mobile applications for both Android and iOS users.|
|Security breaches were reported in 2017. But the CoinPayments team resolved the issue within 6 months by returning the stolen Ripple coins to the merchants.|
Do you need a crypto platform that supports multiple coins? Download CoinPayments today!
│ Features of CoinPayments
The most prominent features of the CoinPayments wallet are as follows:
CoinPayments supports the following popular cryptocurrencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Litecoin (LTC)
- Empress Gold (AEG)
- Velas (VLS)
Overall, the platform supports more than 2350 currencies, including popular and lesser-known ones.
Users in the US and the UK can enjoy fiat currency settlement on the CoinPayments platform. They can directly link the settlements to their bank accounts.
Auto Coin Conversions
It is one of the default features of the CoinPayments wallet. It lets you convert coins into different denominations. Since the feature is automatic, users are able to solve a lot of their time.
The feature enables customers to generate personalized usernames and make transactions using them. Even merchants can use unique usernames to accept crypto payments after a trade. It lets users send or receive payments without having to copy-paste the wallet addresses.
CoinPayments acts as an ICO hosting platform from time to time. It enables users to tackle upcoming ICOs like Escrow.
You can also credit AirDropped coins using the platform. But they get credited to the user’s account instead of the wallet. It becomes troublesome when users claim the airdropped coins to their offline wallets.
Users can securely store their coins in a cold wallet using the Vault service. But they can only save them for a specified time.
Do you need a crypto wallet to securely store your assets? Check out CoinPayments now!
Why Should You Use CoinPayments?
|A major reason to use CoinPayments is because it’s supported on mobile devices. You will also find a dedicated mobile app for both Android and iOS.|
|The software ensures that your payments get processed quickly. You can also link multiple accounts together on the platform.|
|Among all other cryptocurrencies, the platform also supports Bitcoin payments. Since it is one of the most popular cryptos in the market right now, there’s a concrete reason behind using CoinPayments.|
|Several users are happy with the detailed address book that comes with the software. The merchant directory enables users to find the businesses to work with.|
CoinPayments allows crypto payments on the go!
CoinPayments is compatible with mobile devices. You can easily download the app and operate it on both Android and iOS.
│Who Should Use the CoinPayments Software?
The crypto wallet is used in multiple industries, including finance, software, food and beverage, software development, telecommunications, and networking. The following people will benefit from using CoinPayments:
Merchants Accepting Crypto Payments
Any merchant accepting crypto payments will benefit from using the platform. They will also be able to accept multiple cryptocurrencies and expand their operations.
People Accepting or Sending Cross-Border Payments
Blockchain technology makes it easy to send and receive cross-border payments. Anyone who is engaged in international transactions can try CoinPayments.
Offline Store Merchants
The Point of Sale facility allows even offline store owners to accept crypto payments. It enables in-person payments. Since this is a unique feature, CoinPayments has the edge over other digital wallets.
│Time and Cost
The time required to set up the CoinPayments wallet is quite minimal. You will have to enter your name, location, username, and password under the Sign up tab. After receiving your confirmation email, you will be able to set up two-factor authentication.
You don’t need to bear any fee for downloading or installing the application. You also don’t need to bear any fee for setting up your account. If you learn about its pricing plans, you will realize that CoinPayments is an inexpensive platform.
The design of the CoinPayments is quite clean. If you are browsing it for the first time, you might find it a little complicated. But by your second visit to the site, you will learn how it works.
The desktop application is particularly meant for digital currency payments for online merchants. It has the appearance and feel of a merchant payment system. The desktop app might not seem like a user-friendly crypto wallet.
The mobile version of CoinPayments is better than the desktop version in terms of navigation. The mobile app has a simple interface and retains all the features of the web version. But if you compare the interface of CoinPayments with its competitors, the platform won’t have a better standing.
|Any merchant accepting crypto payments can use CoinPayments, irrespective of their size.|
|People sending or receiving international crypto payments can use CoinPayments for increased convenience.|
|Even offline store merchants can use the platform because it supports in-person payments.|
Use CoinPayments to Make International Crypto Payments!
CoinPayments is an efficient platform to make international payments. It is also useful for receiving payments in multiple countries.
CoinPayments adds a 0.5% fee on all incoming crypto payments. In the case of incoming token payments, the charge is 1%. When the balance is deposited to the CoinPayments wallet, a 0.5% fee is necessary.
When the payments are forwarded to an external address, a network fee, along with a 0.5% charge, is necessary. When payments are gathered and forwarded to an address within a nightly batch, a network fee, along with a 0.5% charge, is deducted.
The details of the wallet service fee are as follows:
|Deposits||No charges for the first $15,000 per month0.5% fee from the next one|
|Conversions||Network Fee + Conversion Partner Fee|
The tools offered by the Platform are as follows:
Point of Sale
The Point of Sale feature allows the acceptance of in-person payments. This feature is unavailable in the case of most cryptocurrency platforms. Even offline stores can successfully use the CoinPayments platform.
The invoice builder enables you to send links to customers. They can use the links to fulfill crypto payments.
CoinPayments enables you to integrate wallet or payment APIs into your business. It ensures that you can build a customized crypto experience for clients.
You can add a variety of payment buttons to your business using CoinPayments. The buttons can be implemented seamlessly quite fast to improve the crypto payment functionality on your site.
Shopping Cart Plugins
CoinPayments have pre-built plugins for major e-commerce platforms. It ensures that you can set up CoinPayments in your store within a few minutes.
|The Point of Sale tool allows offline merchants to receive in-person payments.|
|The invoice builder tool enables sending payments links to customers.|
|The APIs help with building a unique crypto experience for clients.|
|The payment buttons improve the functionality of your site.|
|The in-built plugins for leading e-commerce platforms enables merchants to easily set up CoinPayments.|
│Real-Life Use Cases of CoinPayments
Some companies that have benefited from using CoinPayments are as follows:
TicketSocket’s partnership with CoinPayments has been a timely move. It has enabled the company to introduce NFT ticketing. The clients of TicketSocket have all the tools to send crypto payments.
Coin Market Manager
The company needed a crypto payment processor with auto-conversion tools. The auto-conversion feature ensures that the coins get automatically converted to different denominations. Therefore, Coin Market Manager benefits from the time saved automatic conversions of incoming crypto payments.
The company was looking for a reliable crypto payments processor. They benefited from the swift confirmations leading to faster transactions. The company trusts the wallet with all its assets and receives top-notch services all the time.
The CoinPayments customer support team is quite prompt. They offer fast and impressive solutions to customer queries. You need to raise a ticket to communicate their issues.
The team will resolve your queries within a day. You need to use the support wizard to receive a code and link. The code will remain active for one hour.
You can also contact customer support by filling up a form. You will have to enter your username, email, subject line, and message on the form. You can also contact CoinPayments via social media platforms like Facebook, Twitter, and Telegram.
|Social||Facebook, Twitter. Telegram|
|Alternative Solutions to CoinPayments|
|Exodus is efficient and secure storage for your digital coins. You will be able to make transactions using more than 100 cryptocurrencies. The wallet was primarily meant for desktops.|
But now, the platform is also accessible on Android and iOS devices. You don’t need to fulfill registration on the site to initiate payments. In fact, Exodus is a lite wallet.
The wallet operates using Simplified Payment Verification. Therefore, the wallet won’t download the entire blockchain. It will help you manage your wallets using multiple servers.
Exodus is a non-custodial wallet with an extensive support network. You will be able to exert full control over your digital assets stored on the platform. Exodus won’t be responsible for managing or taking custody of your wallet.
|Comparison Between CoinPayments and Exodus|
|No. of currencies||More than 2350||More than 100|
|Type of Wallet||Custodial||Non-custodial|
|Fees||0.5% on all crypto payments||Custom|
|Apps||Desktop: Windows, Linux, MacMobile: iOS, Android||Desktop: Windows, Linux, MacMobile: iOS, Android|
CoinPayments is an outstanding wallet and crypto payment tool. It has certain exceptional features like auto coin conversions and vault service. The team is dedicated to improving the platform with further enhancements and expanding its core offerings.
You might not be able to spot another platform supporting more than 2350 crypto coins. The platform has various tools to increase the convenience of users. For instance, the invoice building feature ensures that you send links to customers for fulfilling payments.
If you are an investor trying to find a wallet to securely store crypto holding, CoinPayments will probably disappoint you. Most multi-asset cryptocurrency wallets offer interest accounts. However, CoinPayments does not have the ability to yield in DeFi markets.
But online retailers, especially the ones responsible for making international crypto payments, will be immensely satisfied by CoinPayments. The platform has the edge over competitors with low fees and different withdrawal options. Since it is a custodial wallet, CoinPayments will take the responsibility of protecting your holdings.
CoinPayments is the ideal tool to securely manage your assets. You will also be able to send and receive cross-border payments in cryptocurrencies. Explore CoinPayments now!