NOWPayments Introduces a Transparent Instrument for Processing Bitcoin (BTC) and Altcoins Payments: Review

NOWPayments, an all-in-one solution for processing crypto payments, is poised to introduce Web3 payment methods to a new generation of merchants, creators, and charities.

NOWPayments has released a tool to accept bitcoin (BTC) and altcoins payments: Why is this crucial for merchants, creators and NGOs?

Launched by an impactful team of blockchain professionals, NOWPayments is an out-of-the-box solution for processing crypto payments. Equipped with crypto-fiat payment portals and multi-currency supporting instruments, it is poised to introduce Web3 technology to thousands of merchants, from streamers to e-commerce platforms and charitable foundations.

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What is special about NOWPayments’ USP and what makes it relevant in 2022?

  • NOWPayments allows every website to start accepting cryptocurrencies as regular payment instruments;
  • NOWPayments does not require any coding or blockchain skills to integrate; its module can be added even by non-technical users;
  • The platform supports more than 150 cryptocurrencies, from the most common (Bitcoin, Ethereum, US Dollar Tether) to the most exotic like FIRO, ZEN and XVG;
  • NOWPayments works with the lowest possible fees, the fastest processing speeds and a flexible minimum/maximum withdrawal policy;
  • NOWPayments is fully compatible with all major eCommerce platforms including WooCommerce, Shopify, OpenCart, etc.
  • The NOWPayments platform can also be used for payments to contributors; it seamlessly uses a crypto-fiat paygate by ChangeNOW, the parent company of NOWPayments.
  • NOWPayments enabled direct fiat withdrawals for its customers; all funds can be withdrawn to bank accounts.

While using NOWPayments, crypto enthusiasts can also earn by joining its tiered affiliate program.

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Why is it important for businesses to accept crypto?

Mainly, businesses are starting to accept crypto for three reasons. First, it allows them to increase their operational turnover: with such an impressive new payment instrument, users are motivated to buy goods or services immediately. Payment by crypto is increasingly popular among the most influential and economically active category of Internet users.

Then, by accepting crypto, a business, creator or NGO can streamline their accounting procedures: in some jurisdictions, cryptocurrency transactions are eligible for clear tax regulations (usually, with low tax rates) while that, in the majority of countries, crypto payments are still untaxed.

Adding cryptocurrency payments allows businesses to expand their offerings to new regions and dramatically improve their visibility in new markets, even for “unbanked” territories with underdeveloped financial infrastructure.

Finally, as the global crypto community grows day by day, the decision to start accepting cryptocurrencies should increase the visibility of this or that brand among different categories of users.

What are the main obstacles for organizations accepting crypto?

Meanwhile, the adoption of cryptocurrency retail payments comes with its own set of hurdles. The first generation of crypto-fiat paygates are not user-friendly; to integrate them, a team needs sophisticated software and blockchain engineers.

Moreover, sometimes the crypto-to-fiat conversion procedure is quite complicated: even if the team manages to set up the crypto paygate, transferring cryptocurrencies to bank accounts can be tedious.

Which cryptocurrencies are the most popular for B2B and B2C payments?

Three groups of cryptocurrencies dominate the retail payments segment. The first group includes traditional stablecoins, i.e. digital assets pegged to the US dollar or euro. Generally, US Dollar Tether (USDT) and USD Coin (USDC) are the most popular stablecoins for payments, while Shiba Inu (SHIB) and SHIB-like cryptocurrencies have also gained traction. land in 2021-2022.

Next, crypto giants such as Bitcoin (BTC), Ethereum (ETH), and XRP are also accepted by the vast majority of vendors, creators, and businesses. Additionally, some services work with privacy-focused cryptocurrencies like Monero (XMR), Bytecoin (BCN), and ZCash (ZEC).

Introducing NOWPayments, the easiest way to start accepting crypto in 2022

That’s why NOWPayments, an easy-to-integrate cross-platform, non-custodial instrument for accepting bitcoin (BTC) and altcoin payments, is poised to be a game-changer in cryptocurrency retail payments for institutions, businesses, creators and non-profit organizations.

Payments NOW: The Basics

NOWPayments is a high performance add-on that allows websites to accept cryptocurrencies. Its mechanism works with unparalleled speed: a transfer takes a maximum of 10 seconds, while merchants get their funds back in 5 minutes.

The NOWPayments service operates on a non-custodial basis; the service does not control user funds, private keys, or sensitive information. The platform works with automated crypto-to-fiat conversion for all digital currencies provided by ChangeNOW, as NOWPayments is an integral part of the NOW multi-product ecosystem.

NOWPayments does not have mandatory KYC although it does have AML procedures in place to secure merchant and customer funds.

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Image by NOWPaiements

NOWPayments offers its users a wide range of customized solutions, including casino payments, bulk payments, and Twitch donation instruments.

NOWPayments: Assets and Platforms

NOWPayments allows its customers to start accepting all types of cryptocurrencies from different segments:

  1. Crypto heavyweights including Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Monero (XMR), Solana (SOL) and Cardano (ADA);
  2. Stablecoins: US Dollar Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI) and so on;
  3. Fashion coins: Shiba Inu (SHIB), Kishu Inu Coin (KISHU), Baby Doge Coin (BABYDOGE), Floki Inu (FLOKI), etc.
  4. DeFi coins: Kyber Network Crystal (KNC), Chainlink (LINK), PancakeSwap (CAKE) and so on;
  5. Non-EVM L1 coins: Zilliqa (ZIL), Tronics (TRX), Avalanche (AVAX), Cosmos (ATOM) and Polkadot (DOT).

In total, NOWPayments operates with over 150 coins and tokens, and new assets are added every week.

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Image by NOWPaiements

Also, the service is seamlessly integrated with all mainstream e-commerce platforms including WooCommerce, OpenCart, Magento, Shopify, ZenCart, Shopware, and PrestaShop.

NOW Payments: Instruments

Under the hood, the NOWPayments service has a feature-rich toolkit of crucial instruments for crypto-friendly companies, creators and NGOs. First, it has pre-built API tools for casinos, bulk payments, and “regular” services. These three API variants cover the vast majority of crypto-fiat paygate use cases.

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Image by NOWPaiements

NOWPayments can seamlessly create invoices for its users’ transfers. Invoices can be generated through the API or a user’s personal account. In “Subscriptions” mode, users can set up recurring payments with predetermined details.

With the Crypto PoS Terminal option, visitors can pay for goods and services with their smartphone or directly from a cryptocurrency wallet.

NOWPayments supports recurring payments. This option is of paramount importance for all digital services with a subscription model.

Additionally, NOWPayments has released an easy-to-use tool donation module. Through its mechanisms, NOWPayments customers can accept donations through a widget, buttons, social media links or with bespoke solutions available upon request.

Last but not least, NOWPayments has a “mass payments” module. Through these instruments, companies can pay their contractors, freelancers and affiliates. Additionally, mass payment modules are suitable for digital salaries and loyalty programs.

NOWPayments: Fees and Affiliate Program

To allow crypto enthusiasts to benefit from their social media exposure, NOWPayments has launched a tiered affiliate program. Cryptocurrency users can join this program even without having active online stores.

To get an affiliate link, a user must create an account in NOWPayments and visit the Affiliate Program section. Once new customers join the NOWPayments ecosystem with an affiliate link, its owner receives a minimum of 0.1% as a reward. The program is valid for five years from the date of customer registration.

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Image by NOWPaiements

NOWPayments offers its clients the most amazing commissions on the market: minimum fees start at 0.4%; the exact rate depends on the turnover of a particular trader. Also, for the majority of assets, NOWPayments has no processing limits.

Wrap

In summary, NOWPayments is a state-of-the-art instrument designed to enable businesses, streamers, and NGOs to start accepting cryptocurrencies as payment methods, using crypto for donations and mass payments. It can be integrated without additional payment and without specific technical expertise.

NOWPayments has created pre-made modules for casinos, charities, and streamers, while its instruments can be available as widgets, buttons, social media links, and more. The platform supports over 150 cryptocurrencies and is integrated with all major e-commerce instruments.

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NOWPayments Introduces a Transparent Instrument for Processing Bitcoin (BTC) and Altcoins Payments: Review


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