The evolution of money has become a certainty, and it is only a matter of days when a decentralized universal world currency will eventually become a possibility. This realization happens because of the increasing interest and popularization of cryptocurrency that started with Bitcoin in 2009. But yet, it is too soon to accept the full adoption of cryptocurrency as an alternative to fiat due to some significant flaws such as high volatility, the absence of a regulatory framework for financial reporting, and the complexity of integration for business.
That is why, CoinsPaid aims to solve the issues and create a perfect crypto payment processor for business and a convenient cryptocurrency wallet for users. They intend to link cryptocurrency and fiat markets, emphasizing security, reliability, and speed of processes.
What is CoinsPaid?
CoinsPaid is recognized as an internal processing tool of Merkeleon that has been offering cryptocurrency payment services for businesses since 2014 and entered the market as a separate brand in 2018. Its ecosystem has been developed by Merkeleon that is one of the leaders in the development of turnkey solution for cryptocurrency exchanges, where CoinsPaid Processing is one of the key elements.
CoinsPaid crypto payment gateway enables companies to conduct their business internationally, reduce costs, and access new industries. The CoinsPaid team is also preparing to launch its Cryptocurrency Wallet, which has the potential to attract over 3 million users from merchant partners customers of payment companies, affiliates, and software providers in the iGaming industry.
CoinsPaid solution now supports more than 50 cryptocurrencies, and this list is continually growing, which allows users to choose crypto assets, diversify their portfolio, and handle risks.
Main Highlights of CoinsPaid
• Coverage of more than 50 cryptocurrencies, including the popular stablecoins.
• Competitive pricing.
• An annual security audit by an independent company.
• 24/7 support.
• Instant transaction confirmation for popular currencies.
• An effective loyalty program.
• Blockchain-based risk assessment.
• Proven reliability since 2014 as a part of Merkeleon solution.
Advantages of Wallet and Processing
CoinsPaid Wallet with built-in exchange feature allows users to buy/sell/get/send cryptocurrency. Its functionality is easy to work and has a 0% transaction fee within the ecosystem.
The processing, on the other hand, is made easy and has quick API integration. It has a well-proven business solution with extended financial reporting and diversified access level for clients, built-in instant exchange, automatic Payouts. Soon more functions will be available: invoicing system, recurring payments, and custodian services.
Features of CoinsPaid Products
Cryptocurrency exchange
CoinsPaid provides its customers with the chance to buy and sell cryptocurrency. With the aid of their built-in integration with leading liquidity providers, their service can offer the most favorable exchange rate for a considerable number of cryptocurrencies. At the same time, CoinsPaid is not a marketplace where users can exchange with each other but is counterparty and guarantor of each trade transaction.
Crypto wallets management
The service utilizes a separate storage system designed according to high safety standards. CoinsPaid issues cryptocurrency assets among three types of wallets:
• CoinsPaid hot wallet;
• External wallets of users;
• CoinsPaid cold storage.
Instant deposits
CoinsPaid functionality enables users to verify transactions in the major cryptocurrencies like BTC, BCH, and ETH before they are held in the blockchain. This option allows for instant funds transfer, which eliminates high expectations in mempool and is hugely valued by both the business and their customers.
Fiat transactions
CoinsPaid permits any client to deposit or withdraw funds in fiat to their own wallets. The team aims to optimize the financial foundation, which will allow users to link the cryptocurrency and fiat world. Their introductory agreements with several leading suppliers of fiat liquidity, banking, and payment services, their goal is to acquire the necessary licenses and create a financial infrastructure without additional links in the chain of operations. It will develop the competitive advantages of the service, trust between parties, and the speed of transactions.
Coin compliance
Coin compliance highlights an audit of transactions in the blockchain to confirm the purity of the fund’s origin. As AML is becoming stringent day after day, this functionality is in demand both for business and average users. It allows the company to ensure the service and its users from prosecution by regulators in concerns of money laundering and fraud.
Security measures
In addition to the basic security systems, CoinsPaid also implements the following criteria:
• Hashing, Google 2FA, SMS verification;
• “Roles” with varying levels of access;
• Measures for restricting cross-site request forgery;
• Measures to stop SQL implementation;
• SSL certificate and integration with Cloudflare;
• Smart system of fraud protection;
• Enhanced security against DDoS attacks;
• Multi-level verification system;
• Protection against double-spending;
- Audit logs displaying any user activity.
Conclusion
The popularity of cryptocurrency nowadays will surely dominate the economy in the near future. Because of this, users need to have a reliable payment processing platform that will assist them in making a transaction at a faster pace with an assurance of secure processing. CoinsPaid innovations ultimately highlight these requirements.
Their state-of-the-art platform and advance features will make crypto payment processes easy and convenient for users. The company has proven and tested services with its years of existence in finance processing.
