Since 2014, CoinGate has been providing payment services that establish strong payment infrastructure accessible to merchants and customers. It holds brand values that satisfy both sides of businesses with professional outlook and outstanding services.
CoinGate: Crypto Payment Gateway for Traders and Merchants
When it comes to blockchain payments, CoinGate is one of the sites that ring a bell among merchants and Bitcoin SV users alike. This payment gateway has been live since 2015, notwithstanding it traces its roots to a 2014 brand released as Virtualios Valiutos which served as the legal basis of what CoinGate is now.
According to the data published on its website, CoinGate had already had over 50,000 registered users in 2018 and processed about 600,000 payments in 2019. These figures continue to grow as the brand moves forward.
Exchange and Payment Processing
This crypto payment solutions provider offers two main services: trading/exchange and merchant payment system provision. With these, the brand caters not only to crypto users but also to business owners that look to integrate cryptocurrency into their payment systems.
Trading on CoinGate comes with a 3% buying and selling fee. Traders don’t necessarily have to deposit funds. They can simply buy or sell directly to or from their wallets. If they refer the trading platform to their friends, they can earn up to 1% of the fees paid by the referred users.
For merchants that use the payment gateway for their customer payment processing, there is a charge of 1% for each transaction but zero charge to shoppers.
Large enterprises may also turn to this payment solutions provider for setting up a crypto payment infrastructure. CoinGate will provide a dedicated account manager, customer support, and discounts.
Over 50 cryptocurrencies and altcoins are supported, including, of course, BSV. Other popular coins accepted are BTC, BCH, TRON, ETH, ETC, LTC, XRP, and DOGE, among many others. This large diversity in crypto support is a plus to merchants who want to target more digital asset owners. At the same time, users of BSV and other coins see this as a great advantage when trading their coins with other lesser-known cryptos that may promise price growth.
It should be noted, though, that all payments made on CoinGate are via the crypto exchange Changelly. Users may buy Bitcoin using their credits or debit cards. They can even withdraw funds in USD or EUR from their CoinGate account to their bank account, AdvCash account, or Skrill wallet.
Still, Be Cautious…
Despite providing a user-friendly website and a seemingly seamless set of services to crypto traders and merchants alike, CoinGate isn’t a perfect trading platform and payment gateway. It’s been receiving complaints like the alleged long waiting period before users get verified, lack of transparency, poor customer support, malfunctioning pages that are supposed to process payments, and unexplained holding of user funds, to name a few.
With a number of client complaints, it is still best to be cautious when transacting with CoinGate.