Do you want to accept Bitcoin (BTC), Ethereum (ETH), Stellar Lumens (XLM) and Ripple (XRP) in your cryptocurrency business? Coinqvest lets you accept cryptocurrencies and convert them into USD, EUR or any other fiat currency.
Coinqvest Review – Easiest way to accept bitcoin and Stellar Lumens payments
Coinqvest won the 4th Stellar Community Fund and they have developed a comprehensive solution to easily accept popular cryptocurrencies and denominate your sales in fiat currency.
It lets you accept payments in Bitcoin, Ethereum, Litecoin, Ripple and of course, Stellar Lumens.
How does Coinqvest works?
Coinqvest is an enterprise payment gateway and offers programmable cross-blockchain transactions with help of its proprietary merchant API that is customizable and can be changed according to requirements.
Once the customer makes the payment, Coinqvest automatically deposits funds in your account in currency of choice. This choice includes either fiat currency (USD, EUR, NGN, BRL, CAD) or cryptocurrency (BTC, XRP, ETH, LTC, XLM).
So, once the Coinqvest payment gateway is integrated, you can immediately start accepting cryptocurrency payments. Compared to other fiat and cryptocurrency payment gateways, their fees are extremely low since Coinqvest pays most of them for you. This is because Coinqvest makes use of Stellar decentralized exchange to convert between various cryptocurrencies.
For example, let’s say it receives a payment in Bitcoin. Then, it will make use of Stellar DEX to convert Bitcoin to USD. This convertion is done in matter of seconds since in reality, it is dealing with a Stellar-based Bitcoin token instead of actual Bitcoin that is much slower. This Bitcoin is then is converted to Anchor USD’s stablecoin, USD that also runs on Stellar blockchain. Each USD token is backed by real US dollars stored in Anchor USD bank account.
All transactions have no minimum transaction fees and are settled immediately. No third-party banks or services are involved.
To view Coinqvest in action, you can go to demo.coinqvest.com and check out the demo T-shirt store. Select the T-shirt you want, enter your details, and you will be taken to this screen that lets you select the payment method. Make the payment and your order is placed. Streamlined – Very.
Coinqvest also offers easy integration with their wordpress plugin. So, if your website is running on wordpress, it takes only a few clicks to integrate cryptocurrency payment integrations. It also works flawlessly with WooCommerce, which is a very popular payment processing platform.
In case, you have deal with any refunds, you are in full control since no banks are involved.
Coinqvest https://www.coinqvest.com/ has also got you covered for your analytics and accounting needs including invoicing and customer management. Feel free to check out their PHP SDK hosted on its github.