Eternity Law International News What is cryptoprocessing and what is it for?

What is cryptoprocessing and what is it for?

Published:
December 7, 2020

Recent years have been marked by the global introduction of crypto and blockchain technologies into our daily life. Now almost everyone is familiar with such concepts as “crypto-exchange”, “token” and “cryptocurrency”. Due to the rapid development of these technologies, their application is now possible in areas in which they would not have thought of using them before.

At one time, the state and the “old school” business representatives developed a distrustful attitude towards cryptocurrencies and blockchain technologies. However, now this mistrust has been replaced by the perception of crypto as an opportunity to open new horizons for your business and significantly expand its limits, regardless of whether the subject of entrepreneurial activity is E-commerce, the gambling industry, or something else.

As new means of payment – cryptocurrencies – began to flood the virtual space more and more rapidly, it became necessary to properly ensure the receipt and sending of payment transactions.

Everyone is familiar with fiat systems; they are actively used in our life. However, what about the acceptance of bitcoins or other cryptocurrencies? Let’s talk about it.

Fiat transactions require the use of a bank-processing gateway. Each country has its own fiat-processing scheme. The same is the case with cryptocurrencies. In order to be able to receive and send crypto coins, it is necessary to integrate a special service, namely, a crypto gateway.

The system for processing crypto-transactions is a universal software tool that provides safe and fast operations for depositing and withdrawing funds, as well as servicing deposits.

Key points to consider if you want to accept payments in cryptocurrencies

  1. Study as closely as possible the market promoting the corresponding solutions, and make a list of providers.
  2. Explore the capabilities of the crypto-processing process (security level, process speed, availability, etc.). The number of options sometimes negatively affects the quality of the solution.
  3. Find out how many companies are already using such a payment gateway and for what period.
  4. Read the reviews carefully.
  5. Study the commercial terms of a particular company and compare them with those of competitors.

Having received all of the above information, you can choose the most suitable processor for yourself.

Conclusion

Cryptocurrencies and blockchain are an integral part of our reality. A year or two will pass, and payment for services and goods using cryptocurrencies will become commonplace. Therefore, it is necessary to think about the integration of a crypto-gateway today. Trust qualified professionals and keep up with the times. Our specialists provide cryptoprocessing on best conditions.

You could be interested

Registration of IT companies in Canada and the USA

Registration of IT companies in Canada and the USA – an important point for young companies that are just starting their development path, are looking for possible ways to get to foreign markets worldwide. To do this, they need large cash investments. If you look at the official statistics, the leaders among countries that provide...

A company with a CySEC forex broker license

A company licensed as a forex broker CySEC – Cyprus Securities and Exchange Commission. License type – STP A company with a CySEC forex broker license The year of registration and obtaining a license – 2008 Start of the company – 2008 Types of activities provided for by the license: a. Reception and Transmission b....

Gambling Licensing in Costa Rica

Generally, gambling licensing in Costa Rica isn’t approved, but entrepreneurs may offer virtual casino services. You may create your own Internet firm, put your own soft into practice, launch a web-site and think over the internal organization of the institution before thinking about certification. Preferably, all transactions will have to be carried out through cryptocurrency,...

Major payment institutions license in Singapore

According to the Law on Payment Services, large payment institutions are regulated to provide payment services without reaching the established limits and such Major payment institutions could apply for the license in Singapore. Section 6, paragraph 5 of the Law on Payment Services sets restrictions. In short, they are: The monthly volume of transactions should...

Permanent resident card in Latvia

Permanent resident card in Latvia – quite intersting issue. Moving to the Baltic countries makes integration into the European space much easier. In addition, we are also talking about a significant expansion of prospects in business and opportunities to enjoy social and cultural benefits. Latvia is a state with developed legislation for immigrants, which allows...

Company registration in Malta

Registration cost 3. 775 Eur Company renewal cost 2. 875 Eur Directors number 1 Corporate tax 35.00 % Registered share capital 240.00 Mandatory reporting requirements Yes Company documents: Cost of services of a nominee director and shareholder is 1 200 EUR. Malta has been a member of the EU since 2004. Since then, Malta has...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

New York

1178 Broadway, 3rd Floor #3353 New York, NY 10001

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7