Table of contents:
- Introduction
- Notable features
i. Inbuilt crypto wallets
ii. Open-source plugins
iii. Crypto API
iv. Security features
v. Technical support
vi. Webhook
vii. Gas station - How it works?
- Coinremitter review
Pros
ii. Cons
iii. Where does Coinremitter stand out? - Coinremitter: an ideal choice in 2024?
1. Introduction
Coinremitter is a business-centric crypto payment gateway, which works as a medium between merchants and consumers. Merchants can add the crypto payments option to their checkout system and allow their consumers to pay in crypto for goods or services. Let’s learn who can find Coinremitter helpful in its detailed review.
2. Notable features
i. Inbuilt crypto wallets
Having a crypto wallet is mandatory to accept crypto payments. Each crypto wallet on Coinremitter consists of 500 addresses (for the free plan) and unlimited addresses (for the premium plan). Individuals can share these wallet addresses with consumers to receive crypto payments.
Coinremitter’s crypto wallets work fine for accepting payments, but might not be ideal for holding funds. You can add a compatible external wallet to withdraw funds. Your funds will get transferred automatically to it within a specific time frame (known as auto-withdrawal). However, you can turn on manual withdrawals by upgrading your membership.
ii. Open-source plugins
Coinremitter’s plugins can be used to automate the payment system. You can install these plugins to accept crypto payments directly on your websites. Currently, Coinremitter offers plugins for WooCommerce, OpenCart, Prestashop, Magento2, Laravel, PHP, and Node JS-based websites.
iii. Crypto API
Crypto API also helps automate the payment system. You can integrate APIs into their websites. Following this process is necessary when you don’t own a website that supports Coinremitter’s plugins.
iv. Security features
Apart from transaction security, you can get some other dependable security features here that can save your funds from unauthorized individuals. Where crypto payments primarily stand for security, Coinremitter’s security features rightly justify cryptocurrency’s security measures.
v. Technical support
You can generate a support ticket to raise an issue. You can submit your report to Coinremitter and expect the support team to respond with a quick and reliable solution.
vi. Webhook
Webhooks can be used to receive notifications on merchants’ websites on successful payments. You need to add a valid URL to receive webhooks while integrating crypto APIs or plugins.
vii. Gas station
This feature is usually absent on other crypto payment gateways. This feature allows you to reduce fees on selected crypto withdrawals. Currently, Coinremitter provides gas station services for Ethereum, USDT-ERC20, USDT-TRC20, Tron, and Binance Coin cryptocurrencies.
For example, if you enable the gas station for Ethereum, the system will create a unique crypto address to deposit. Gas fees will be deducted when extracting the balance from individual addresses associated with any Coinremitter wallet. And such deductions are quite less than ones without the gas station.
3. How it works?
Accepting crypto payments with Coinremitter consists of a few mandatory steps:
i. Sign up/log in
ii. Add a compatible crypto wallet
iii. Integrate necessary plugins or APIs
i. Sign up/log in:
First of all, you need to sign up for a Coinremitter account by adding the required information. Surprisingly, we weren’t asked to submit any identity proof. So, privacy-concerned merchants looking for a crypto payment gateway without KYC may find Coinremitter helpful. Merchants with an account on Coinremitter can log in and follow the further process.
ii. Add a compatible crypto wallet:
After logging in, you can create a compatible crypto wallet. This means if you want to accept payments in Bitcoin, then you have to create a Bitcoin wallet from the dashboard > wallets. A maximum of 5 wallets can be created per cryptocurrency with a maximum limit of 500 addresses. However, this limit can be increased to unlimited with the premium plan.
iii. Integrate necessary plugins or APIs
One of these steps is required to automate the payment system. If your website is developed using WooCommerce, OpenCart, Prestashop, Magento2, Laravel, PHP, or Node JS, you can choose plugins.
Otherwise, you can look at Coinremitter’s crypto API, which can be integrated into your website to add the option for crypto payments. However, the API integration requires some coding, which may look complicated. But you can claim technical support for integrating APIs.
4. Coinremitter Review
i. Pros:
- Lowest processing fee
- No KYC required
- Strong security measures
- Express technical support
- Versatile plugins support
ii. Cons:
- Limited cryptocurrencies supported
- No support for fiat currencies
iii. Where does Coinremitter stand out?
Coinremitter shines in almost every aspect. Are you looking for a crypto payment gateway with low fees? Are you worried about privacy? Are you looking for a crypto payment gateway without KYC? There are plenty of questions that can be answered with ‘Go for Coinremitter’.
Let’s talk about fees first. They range from 0.5 to 1% on most crypto payment gateways. But the fee on Coinremitter is just 0.23%, which is quite lower than 99% of crypto payment gateways. This may be helpful to the merchants who expect high profits from their businesses.
Privacy-focused merchants can also check Coinremitter for KYC-free registration. Also, there is no need to add a bank account, which makes it privacy-centric (with a compromise)! Because there is no support for fiat currencies at the moment. If privacy matters the most for you, then Coinremitter is recommended.
Another reason to recommend Coinremitter is its security features. Features like two-factor authentication, code card, login shield, login history, login notification, and active login prevent unauthorized logins and protect your funds.
Team Coinremitter is quite quick with its technical support. Though we didn’t face any issues, we tried to check its support system and we’re quite satisfied. It allowed us to generate a support ticket, and it was closed with a reliable solution within a few minutes of submission.
Kudos to the transparent fee structure. We were also allowed to calculate the net withdrawal amount using the crypto fee calculator. While exploring the fee page, we found that we could reduce transaction fees by up to 50% on selected cryptocurrencies using the gas station.
5. Coinremitter: an ideal choice for 2024?
Everything has pros and cons. Sticking to priorities is recommended here. Coinremitter’s cons might not affect most merchants. It focuses on cryptocurrencies and we’re fine without fiat currencies here. We can expect a shift to cryptocurrencies soon. So, we may find ‘no support for fiat currencies’ in ‘pros’ instead of ‘cons’.
Also, lower fees and higher net profits attract merchants. So, we may soon witness a big shift towards Coinremitter because the processing fees are over 50% less than some reputed crypto payment gateways.
Combining all the pros and cons, we can say that Coinremitter is a futuristic choice and it definitely makes sense in 2024 and upcoming years.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
