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| Payment Solution. |
6 Crypto Noncustodial Payment Solution for Traders
You don't have to be a bitcoin criminal or tech tamer to want to accept cryptocurrency without using a third party. With lower merchant costs, longer network time, Non-custodial crypto payments have several advantages over traditional fiat payment systems and there is no chargeback. Here are six non-custody options for receiving crypto in-store and online.
Thank Crypto Without Questions
For merchants who are interested in receiving cryptocurrency in-store or online, there are now many choices. Large companies such as Coinbase and Bitpay dominate the industry, with the latest containment solution promising to isolate retailers from crypto volatility. But that not all detention solutions protect traders from. Due to the permitted nature of this payment system, retailers run the risk of violating the terms of service and closing their accounts, which happens more often than you might think - just ask Gab.com.
If any of your customers come from countries that are subject to U.S. sanctions, for example, you risk closing your account by U.S. payment providers. The fact that you transact in cryptocurrency will not save you when you use a custodial solution. There is a greater reason why it might be desirable to find a noncustodial crypto payment solution. Doing so brings greater privacy, gives you sole ownership of funds once the transaction is completed, and is a far truer way to transact with cryptocurrency, without intermediaries.
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| Coinbase Commerce |
Coinbase Trading
Coinbase drew criticism for some of its executive decisions, and it did not oppose the derailment of its exchange users for the thinnest reasons. But it is difficult to take exception to the company's merchant payment solutions. Coinbase Commerce is non-custodial, easily regulated and free of charge. BTC, BCH, LTC, ETH, and USDC are all accepted, and the interface is neatly designed. He claims to already have more than 2,000 traders who use Coinbase Commerce.
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| Bitcoin Cash |
Bitcoin Cash
About as easy as a merchant application, Bitcoin Cash Register is an Android and iOS application developed by Bitcoin.com. All you need to get started is a public key to your BCH wallet. This is simply because cryptocurrency is meant to be simple. There is no need for a second layer solution, payment channel or guard to convert crypto into fiat and vice versa when customers can only press a button and funds are sent directly to the merchant's wallet in seconds. The Bitcoin Cash Register is limited by being BCH-only, but in every respect, this is a perfect example of what should be a noncustodial crypto payment solution.
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| Atomicpay. |
Atomicpay
Atomicpay is a noncustodial payment application that supports seven cryptocurrency including BCH, BTC, LTC, and DASH. User friendly, offers price conversion to more than 150 fiat currencies, and has good privacy practices, including generating a new address for each transaction. You can integrate Atomicpay into e-commerce modules such as Woocommerce, and it's easy to generate payment buttons to be embedded on your site.
Atomicpay is also suitable for use in physical stores. Offers API integration and the ability to generate payment invoices in just a few seconds. In terms of fees, Atomicpay charges a reasonable 0.7-0.9% fee per transaction, with a Personal plan that does not require KYC to start. However, upgrade to the Business package, and you must undergo KYC. Greater cryptocurrency support, such as ETH, will be useful, as are additional e-commerce modules, which will be coming soon. In addition, Atomicpay provides all-round options for traders who want a non-custody solution.
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| Blockonomics |
Blockonomics
A special BTC service with a number of advanced features, Blockonomics is a non-containment solution for traders who understand crypto. It's not difficult to use if you are familiar with cryptocurrency, but there are many things that happen here. A number of e-commerce plugins come with company invoices and the ability to receive BTC to your existing wallet including a hardware wallet for added security.
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| CMM Pay. |
CMM Pay
CMM Pay is a UK-based payment startup whose non-containment service was only launched at the beginning of the month. BTC is the only major crypto supported at this time, although additional assets are on the way. Setup takes less than five minutes and, as a non-custodial payment solution, there is no need to undergo KYC. The standard CMM Pay fee is 1%, although for a limited time this has been completely eliminated. Features include 24-hour customer support and a merchant dashboard to view cryptocurrency sales, business wallet balances and a number of other metrics.
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| 8Pay |
8Pay
8Pay is a non-containment payment system with a twist - some real twists. Operating on the Ethereum network, it provides on-demand and recurring payments between retailers and customers. This makes it possible to arrange subscription-based payments for goods and services. The best part of all of this is that this can be achieved without sacrificing decentralization: Pay is non-custodial and does not require KYC. The only downside is that as Ethereum only solution, it is limited to ETH and ERC20 tokens including Stablecoin. However, there is a good reason for this: implementing the type of features built by 8Pay in its payment protocol to utilize such smart contracts that cannot be supported by most other crypto networks.
After the 8Pay web and cellular application are launched, buyers can subscribe to demand-based and recharge services (think about movies, music, toiletries, household needs, utility bills) with tokens deducted from their fixed crypto wallet. interval until they choose to cancel the settings. 8Pay also features a payment button, a unique payment link, and the ability to generate invoices quickly.
What other non-custody merchant payment solutions do you recommend? Let us know in the comments section below.