Cryptocurrency is steadily entering the mainstream market. Businesses are adding crypto payment gateways to their websites to allow customers to pay for products and services using crypto coins.
However, many such payment gateways come with a lot of excess work. Merchants have to register, sign up, and carefully integrate the gateway to their existing systems. Wouldn’t it be easy if merchants didn’t have to do any of that?
CryptAPI is a simple and effective plug-in that can be seamlessly integrated with websites and facilitate crypto payments without any registration or sign-ups. Business owners just have to copy and paste their crypto address to the platform to automate crypto payments on the site.
Overview of CryptAPI
CryptAPI was founded in 2018 by a small and dedicated team that aims to make crypto payments a hassle-free experience for sellers and buyers. The company has created a plug-in for WordPress and WooCommerce that makes crypto payments possible through the business website. There’s no need to write code or make drastic changes to the website.
CryptAPI’s main purpose is to make it easy for merchants to accept crypto payments. It doesn’t convert the currency from one form to another. Payments made in BTC or ETH will be credited to the merchant’s account/ crypto wallet in the same form.
Working of CryptAPI
CryptAPI initiates the transaction by creating a new crypto address and waits for the customer to pay. The payment is processed by the blockchain and flagged green (as in indicator). The amount will be sent to the merchant’s crypto address after deducting the minimum transaction fee. It can accept several cryptocurrencies and even generate a QR code for some coins.
The conversion rate is displayed in real-time to ensure payment accuracy. The company updates the plug-in regularly to get rid of bugs and make it more effective.
Benefits of Using CryptAPI for Mercantile Payments
Merchants can find all the necessary information about the CryptAPI plug-in on the company website.There’s no need to worry about how the plug-in works or what information it collects during the transactions.
The transactions are processed immediately so that merchants don’t have to wait to collect their earnings. Moreover, they can choose to stop using the platform anytime. There is no contract or subscription fee. At the same time, merchants can subscribe to easily take care of recurring bills and payments.
It’s up to the merchants and customers to determine if they want to make partial or full payments in crypto. They just need to make sure that the transaction amount is more than the minimum value set for each crypto coin.
The company offers great customer service. The team takes a little time to respond (as it is a small team) but is open to feedback and strives to help merchants and business owners make the most of their plug-in.
An admin panel is provided to each merchant to manage the following:
- Frequency of conversion rate update
- Transaction expiry duration
- Theme and color schemes
- Records of client payments and fees
The company has shared the source code of the CryptAPI plug-in on the website, along with other relevant information. The company wants to maintain transparency in its services and offerings.
CryptAPI has a straightforward pricing structure. The company takes a small portion of the payments as a fee (similar to the transaction-fee model). The transaction fee depends on the cryptocurrency used and the transaction amount.
The company set up the following to simplify the pricing structure:
→ Minimum transaction value: There’s a minimum value set for each crypto coin. The platform cannot complete transactions below this value.
→ Minimum fee: It is the minimum amount deducted for every successful transaction on the platform.
→ Percentage fee: It is determined based on the payment volume of the merchant during the past 30 days. The higher the volume of payments, the lesser the percentage fee.
→ System fee: The greatest value between the percentage fee and minimum fee is considered as system fee.
Libraries and Plugins supported by CryptAPI
1.) Django (Python)
→ Third-party Library
1.) Node.js wrapper by Tacyarg
2.) Node.js service by Tacyarg
3.) C# Wrapper by Biitez
Pros and Cons of using CryptAPI
- A smooth and seamless processing system
- No hidden charges
- The WooCommerce plug-in is reliable and secure
- Excellent customer service
- Sign up not required
- Hassle-free and streamlined
- It doesn’t support PoS
CryptAPI believes in transparency and reliability. The platform is a cost-effective solution for crypto payments and a highly secure and reliable solution where personal details are not required to accept or make crypto payments. There are currently three versions of the CryptAPI plug-ins available for WooCommerce websites.
With an admin panel for merchants to track their payments and a range of services offered by the company, CryptAPI is an effective and stress-free solution to add crypto payments to a business website.