CoinGate Review: Profiling a Safe and Secure Bitcoin Wallet
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Choosing the right bitcoin wallet is difficult. On the one hand, there are established giants with mountains of resources. On the other hand, young startups are offering new and innovative solutions.
We all covet Bitcoin transactions that are safe, secure, and simple. This CoinGate review profiles one of the many fast Bitcoin wallets, providing an easy way for retailers to accept Bitcoin payments.
Bitcoin has been around for a while, but it is too complicated for many people to understand and use. Not enough places accept bitcoin, and in those places that do, the customer experience can often be lacking. CoinGate is a leading crypto-currency payment gateway with market-leading exchange rates, easy-to-use API, and world-class support.
This article on the CoinGate review contains all the information you need to know about the Bitcoin wallet and why you should start using it already.
|Founders||Jonas Gilys, Dmitrijus Borisenka and Irmantas Bačiulis|
|Year of Establishment||2014|
|Company Headquarters||Vilnius, Lithuania|
|Services||Bitcoin Payment Processor (BPP)|
|Supported Devices||Windows, Mac, and Web-based|
|Customer Support||Email and Phone|
What is CoinGate Wallet?
The CoinGate wallet is a payment gateway for blockchain-related payments. Founded by Jonas Giles, Dmitrijus Borisenka and Irmantas Bačiulis in 2014, CoinGate provides merchant services to businesses and individuals to accept Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Ethereum (ETH), Stellar (XLM), and about 50 altcoins.
With a CoinGate wallet, crypto enthusiasts and traders can trade cryptocurrencies worldwide, make purchases using BTC, LTC, BNB, XRP, etc., and buy and sell cryptocurrencies for debit or credit cards.
CoinGate is a Bitcoin Payment Processor (BPP) that serves as a digital currency platform providing merchant service for businesses and individuals. It creates the means for individuals to trade with their coins and allows business owners to incorporate cryptocurrencies as payment gateways for their customers.
The wallet supports Windows, Mac, and Web-based devices. It makes use of a cloud-hosted deployment service and supports the English language. Small businesses and large enterprises alike can make use of the CoinGate wallet.
How Does CoinGate Work
CoinGate features several offers to improve the quality of business activities for business owners and make sure crypto traders enjoy seamless, hassle-free trading on their currencies.
To show how CoinGate works, I have explained the company’s features divided into services for businesses and traders. If you are a business owner or trader, you will see how CoinGate applies to you and how it best fits your need for a crypto wallet.
CoinGate for Businesses
For businesses, owners, and merchants, CoinGate offers the following services.
Plugins for eCommerce Stores
Ecommerce is growing, and it has become a safe landing for businesses as COVID-19 continues to wreak havoc in the United States and Europe. Companies can use CoinGate to create a payment gateway for their customers as the wallet can be integrated with plugins to accept crypto payments.
Businesses that make use of Magento, OpenCart, WooCommerce, PrestaShop, VirtueMart, WHMCS, and ZenCart can make use of CoinGate to accept payment in cryptocurrency from their customers.
Bitcoin Point of Sale (POS)
Retail businesses can accept Bitcoin payments at the point of sale from customers who have Bitcoin and would like to pay through that means.
Bitcoin Payment API
Payment APIs are used for managing credit cards, track orders, and maintain customers lists by eCommerce stores. A business can integrate a Bitcoin Payment API with the CoinGate wallet.
With the Payment Button feature from CoinGate, financial officers of business have a tool that helps them record customers’ transaction details efficiently.
CoinGate wallet enables businesses to accept payment in Bitcoin and over 50 Altcoins, including ETH, LTC. XRP, BNB, BCH, and much more. Check the list of supported coins on the CoinGate official website.
Conversion to Euros and Dollars
The wallet lets business convert cryptocurrency to equivalent values in Euros (EUR) and US Dollars (USD).
With the CoinGate wallet, integrations with Shapeshift.io and Changelly integration are possible.
CoinGate for Crypto Traders
Being a tool for persons who are enthusiastic about trading cryptocurrency, CoinGate offers the following features:
- Document encryption
- 2-Figure, Top-level Authentication and protection using Google Authenticator
- 24- hour withdrawal facility
CoinGate Affiliate Program
CoinGate offers users an easy way to make money online with the CoinGate Affiliate Program. Users who are interested in the CoinGate Affiliate Program are provided with a unique referral link, and when anyone signs up using their link, they get 1 percent of the fees paid by the trader,
Every referrer enjoys a percentage of the total payment carried out by the referee.
Businesses that want to offer customers more payment gateways and explore cryptocurrency as a medium of exchange for their goods and services will need to integrate the CoinGate API. The CoinGate API makes it possible to receive payments in Bitcoin and other Altcoins.
When the CoinGate API is integrated successfully, it takes care of payment settlements, checkouts, and much more.
CoinGate Withdrawals Platforms
Users of CoinGate can perform withdrawals through the following platforms:
PayPal is an online payment system that has been incorporated by many brands and is used to receive payments as well. Using PayPal, withdrawals can be carried out in EUR or USD from the CoinGate wallet. Depending on your account and the country you are in, PayPal charges a transaction fee for receiving and sending funds.
The Single Euro Payments Area (SEPA) can be used to withdraw from CoinGate in Euros. Your bank may collect some charges for receiving payment. It is in your best interest to find out from your bank how much they charge for withdrawals from CoinGate.
Mayzus Financial Services (MoneyPolo) can be used to withdraw from CoinGate. A 1 percent transaction fee is charged for every withdrawal, and the platform can be used to withdraw in both EUR and USD.
CoinGate will pay the Bitcoin network transaction fee when you use the Bitcoin withdrawal method.
- International Banks
You can make use of recognized international banks to withdraw from CoinGate. Using this method, you will have to take care of the bank charge yourself.
FAQs on CoinGate Wallet
As promised during the introduction of this CoinGate wallet review, I would be answering some of the frequently asked questions related to CoinGate. Here we go
- Who Owns CoinGate?
CoinGate is owned and was founded by Jonas Giles, Dmitrijus Borisenka and Irmantas Bačiulis in 2014. It was created as a digital solution for businesses and individuals looking to explore the possibilities of trading cryptocurrency.
- Is CoinGate Legit?
Everyone is concerned about the legitimacy of a company before entrusting their assets to them. CoinGate is a legit company, and you have no worries using them to store your Bitcoin and other cryptocurrencies safely.
- Is CoinGate Secure?
CoinGate ensures that all cryptocurrencies stored in the wallet are placed in Cold Storage facilities. The company uses Google Authenticator to activate a 2-Figure authentication process to make their accounts secured.
In summary, CoinGate is secure, and your cryptocurrencies are stored safely.
I have provided a summary of some benefits of using CoinGate. Everyone wants to be assured they are working with a reliable and trustworthy company. Well, CoinGate offers enough benefits to prove they can be depended on. Some of these benefits include:
Real-time updates on cryptocurrency prices
24/7 Customer support service
Periodic crypto news update
Over 50 Altcoins supported
There is no 100 percent system. CoinGate has some flaws, and they are captured in the cons section below:
It does not offer free trials.
Only Euros and US Dollars are supported currencies
And that draws the curtains on my CoinGate review. I trust you got value reading through.
Do you already use CoinGate, or do you plan on doing so? It is not a bad idea. Happy trading. Cheers.