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Coinremitter Team on the Adoption of Crypto Payments for Businesses

Singapore, April 25, 2024 – We had some time to check out the crypto payment gateway market. We checked some options. There were some big names, we checked them out. Some individuals seek reviews before consuming any product or service. We saw the demand for Coinremitter’s reviews. So we decided to experience it and review it.

We experienced Coinremitter as normal users and noticed a few things about it. Just like conventional reviews, we’ll divide the review into two parts, pros and cons.

Pros: Where Coinremitter Stands Out

Low Fees

Where processing fees on most crypto payment gateways range between 0.5% to 2%, the processing fee on Coinrmeitter is just 0.23%, which is at least over 50% less than other affordable options. For some individuals, this may not make a big difference. But for the merchants, this can make a significant difference in their net profitable amount.

Privacy & Security

First of all, Coinremitter allows you to register without KYC, which is good for privacy reasons. For security, there are some remarkable features. Let’s list them out one by one.

  • Two-Factor Authentication: Without authenticating yourself via Google authenticator, you cannot log into your account.
  • Login Shield: This feature sends an OTP to your registered email address on every login attempt.
  • Login Notification: This feature notifies you for every login on your registered email address. The notification mail contains the IP address and browser details of the logged-in device.
  • Withdrawal Limit: Setting a withdrawal limit prevents fund loss (through API withdrawals) at some levels. If you’re unaware of your API key and password getting exposed, then the withdrawal limit will not let anyone withdraw a higher amount.
  • (Disabling) API Withdrawal: If you suspect your wallet credentials (API keys and password) getting exposed, then you can disable API withdrawals to prevent others from withdrawing your funds from API docs.

[Note: API withdrawals allow merchants to withdraw/transfer their crypto funds directly from the respective API docs (without logging in). API withdrawals can be performed using the API key and the password of a respective wallet. The API key and password can be collected from the ‘credential’ section. Apart from withdrawing funds, credentials let merchants use some other API features without logging into their accounts.]

Easy Crypto API and Plugin Integration

If you want to accept payments directly on your website, then you can use Coinremitter’s plugins and crypto APIs. Coinremitter’s plugins are compatible with WordPress, Magento, OpenCart, PrestaShop, PHP, Laravel, and Node.JS. Merchants with other platform-based websites can use Coinremitter’s crypto API.

From our usage, we found that these installations and integrations were quite easy (probably the easiest). Individuals with less or no technical knowledge can also execute the integration process with minimal assistance.

Some Additional Features

We found some interesting additional features, which are as below:

  • Gas Station: For selected cryptocurrencies, merchants can enable the gas station feature to reduce transaction fees. This feature allows merchants to deposit the gas balance in a unique crypto wallet, which will be used to extract gas (transaction) fees whenever required.
  • Affiliation Program: Merchants can share their referral links with other merchants to recommend Coinremitter. The referrer will be rewarded with up to 75% of the referral’s transaction fees whenever the referral makes a transaction.
  • Coin Listing: Individuals request Coinremitter to list their own cryptocurrencies and make them available to everyone for accepting crypto payments.

Cons: Scope of Improvements

Limited Wallet Capabilities

However, Coinremitter’s crypto wallet is equipped with some exciting features, but it is still limited to just accepting crypto payments. Unlike other crypto wallets, Coinremitter’s wallet can’t be recommended for holding your crypto assets. You’ll strictly need an external wallet to keep your funds.

Limited Cryptocurrencies Supported

The number of supported cryptocurrencies is quite low on Coinremitter. It supports 11 cryptocurrencies (as of April 2024), which is strictly below average.

No Fiat Currencies Supported

This can be a double-edged sword, but we’re putting this in cons for now. Supporting fiat currencies and allowing merchants to exchange crypto with them. But since this is ‘just’ a crypto payment gateway, we won’t complain much.

Exploring Coinremitter has let us know that it has a certain audience to deal with. Is it a leading crypto payment gateway? May be for merchants, especially for those who want more profits at the end. Is it one of the top three crypto payment gateways? Definitely yes, depends on your purpose. If you’re just a merchant looking for just accepting crypto payments for your business, then Coinremitter checks almost every box right.

 

Media Contact:

Name: Sam

Organization: Coinremitter

Email: [Protected Email]

Website: https://coinremitter.com/

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