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NOWPayments Introduces Seamless Tool for Bitcoin (BTC) and Altcoins Payment Processing: Review

NOWPayments, an all-in-one crypto payment processing solution, will introduce Web3 payment methods to a new generation of merchants, developers and charities.

NOWPayments Released a Tool to Accept Payments in Bitcoin (BTC) and Altcoins: Why is this Crucial for Merchants, Developers and NGOs?

Launched by a powerful team of blockchain experts, the NOWPayments platform is an out-of-the-box solution for processing crypto payments. Armed with crypto-to-fiat Paygates and the tools of multi-currency support, it will introduce Web3 technology to thousands of merchants – from streamers to e-commerce platforms and charities.

Image by NOWPayments

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

  • NOWPayments enables any website to accept cryptocurrencies as regular payment instruments;
  • No programming or blockchain knowledge is required to integrate NOWPayments. its module can be added even by non-tech users;
  • The platform supports more than 150 cryptocurrencies, from mainstream currencies (Bitcoin, Ethereum, US Dollar Tether) to exotic ones like FIRO, ZEN and XVG;
  • NOWPayments operates with the lowest possible fees, fastest processing speeds and a flexible minimum/maximum withdrawal policy;
  • NOWPayments is seamlessly compatible with all major eCommerce platforms including WooCommerce, Shopify, OpenCart and so on;
  • The NOWPayments platform can also be used for payouts to contributors; It seamlessly uses a crypto-to-fiat paygate from ChangeNOW, NOWPayments’ parent company.
  • NOWPayments enabled direct fiat withdrawals for its customers; All funds can be withdrawn from bank accounts.

While using NOWPayments, crypto enthusiasts can also earn money by joining the multi-level affiliate program.

To sue

Why is it important for businesses to accept crypto?

There are three main reasons companies are starting to accept crypto. First, it allows them to increase operational revenue: with such an impressive new tool for payments, users are motivated to buy goods or services immediately. Paying with crypto is becoming increasingly popular among the most influential and economically active category of internet users.

By adopting crypto, a company, creator or NGO can then streamline their accounting procedures: in some jurisdictions, cryptocurrency operations are entitled to clear tax rules (usually with low tax rates), while in most countries crypto payments are still not taxed.

The addition of cryptocurrency payments allows businesses to expand their offerings to new geographies and significantly improve their visibility in new markets — even for unbanked areas with poorly developed financial infrastructure.

Last but not least, since the world crypto community is growing day by day, the decision to start accepting cryptocurrencies will 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 obstacles. The first generation of crypto-to-fiat paygates are not user-friendly; To integrate them, a team needs sophisticated software and blockchain engineers.

Also, the crypto-to-fiat conversion process is sometimes quite complicated: even if the team manages to set up the crypto Paygate, transferring cryptocurrencies to bank accounts can be cumbersome.

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

In the bulk payments segment, three groups of cryptocurrencies dominate. The first group includes mainstream stablecoins, i.e. digital assets pegged to the US Dollar or Euro. Typically, US Dollar Tether (USDT) and USD Coin (USDC) are the most popular stablecoins for payments, while Shiba Inu (SHIB) and SHIB-like cryptocurrencies also gained prominence in 2021-2022.

Then crypto giants like Bitcoin (BTC), Ethereum (ETH) and XRP will also be accepted by the vast majority of providers, developers and companies. Some services also work with privacy-focused cryptocurrencies like Monero (XMR), Bytecoin (BCN), and ZCash (ZEC).

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

That’s why NOWPayments, an easy-to-integrate, no-custodial, multi-platform tool for accepting payments in Bitcoin (BTC) and altcoins, will change the game of cryptocurrency retail payments for institutions, corporations, developers, and nonprofits.

NOWPayments: Basics

NOWPayments is a powerful add-on that enables websites to accept cryptocurrencies. Its mechanism works with unmatched speed: a transfer takes a maximum of 10 seconds, while traders receive their funds in 5 minutes.

The NOWPayments service works without custody; The service does not control users’ funds, private keys, or sensitive information. The platform works with an automated crypto-to-fiat conversion for all digital currencies provided by ChangeNOW, as NOWPayments is an integral part of the multi-product NOW ecosystem.

NOWPayments does not have a mandatory KYC, although it implements AML procedures to secure merchant and customer funds.

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NOWPayments offers its users a wide range of customized solutions including casino payments, bulk withdrawals and twitch donation tools.

NOWPayments: Assets and Platforms

NOWPayments allows its customers to accept 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. Trending 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. Coins from non-EVM L1s: Zilliqa (ZIL), Tronics (TRX), Avalanche (AVAX), Cosmos (ATOM), and Polkadot (DOT).

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

3Image by NOWPayments

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

NOWPayments: Instruments

Under the hood, the NOWPayments service has a feature-rich toolkit of instruments crucial for crypto-friendly businesses, developers, and NGOs. First, it has preset API tools for casinos, bulk payouts, and “regular” services. These three flavors of APIs cover the vast majority of crypto-to-fiat paygate use cases.

4Image by NOWPayments

NOWPayments can seamlessly invoice its users’ transfers. Invoices can be generated via the API or a user’s personal account. Subscriptions mode allows users to set up recurring payouts with predetermined details.

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

NOWPayments supports recurring payments. This option is paramount for any digital service with a subscription model.

Also, NOWPayments has released a user-friendly donation module. With its mechanisms, NOWPayments customers can accept donations via a widget, buttons, social media links or with customized solutions available on request.

Last but not least, NOWPayments has a “Bulk Payouts” module. These tools allow businesses to pay their contractors, freelancers, and affiliates. Mass payment modules are also suitable for salaries and digital loyalty programs.

NOWPayments: Fees and Affiliate Program

In order for crypto enthusiasts to benefit from their social media presence, NOWPayments has launched a multi-level affiliate program. Cryptocurrency users can join this program even without active online stores.

In order to get an affiliate link, a user should create an account in NOWPayments and visit the Affiliate Program section. As soon as new customers join the NOWPayments ecosystem with an affiliate link, the owner receives at least 0.1% as a reward. The program is valid for five years from the customer’s registration.

5Image by NOWPayments

NOWPayments offers its customers the most amazing commissions on the market: minimum fees start at 0.4%; The exact rate depends on the turnover of this or that trader. Also, NOWPayments has no processing restrictions for the majority of assets.

Wrap up

In summary, NOWPayments is a cutting-edge tool that allows businesses, streamers, and NGOs to accept cryptocurrencies as payment methods and use crypto for donations and bulk payouts. It can be integrated with no additional payments and no specific technical expertise.

NOWPayments has created preset modules for casinos, charities and streamers while its tools can be available as widgets, buttons, social media links, etc. The platform supports more than 150 cryptocurrencies and is integrated with all popular e-commerce tools.

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