SocialEngine Cryptocurrency Payment Plugin

About

Cryptocurrency is a type of digital or virtual currency which uses cryptography for enhanced security. The cryptocurrency uses blockchain technology and it operates on decentralized networks. It is very difficult to counterfeit or double spend them because these are not normal currencies like euro, pounds, dollars, etc., which are issued by governments.

Cryptocurrency payments offer a secure, fast and cost effective way for doing transactions globally around the world. With crypto currencies, the transaction fees are very low in comparison to the traditional currency transactions. It provides enhanced privacy and security as well. Crypto currencies reduce risk of fraud, provides quicker processing times and helps in reaching to global audience with ease which makes it a perfect choice for forward thinking businesses. As its popularity is increasing day by day, more and more businesses are getting ready for future of digital payments.

This Cryptocurrency Payment Gateway plugin enables payments on your site using CoinPayments Crypto Payment Gateway. CoinPayments crypto payment gateway help you expand your business by providing instant, secure and borderless crypto payments with over 100 coins supported like Bitcoin, Bitcoin cash, Litecoin, BNB coin (BSC chain), BUSD token (BSC chain), Binance USD (Tron/TRC20), Dash, Dogecoin, Ether Classic, Ether, Paypal USD (ERC20), TRON, USD coin (ERC20), Monero, ZCash, Tether USD (Tron/TRC20), XRP(XRPL), DigiByte, etc.

Benefits of using Cryptocurrency payment gateway for your SocialEngine website:

Cryptocurrency payments provide convenience, security, and global reach, making them an excellent option for businesses and users alike. There are various other benefits also of using cryptocurrency on your social networking site. Few of them are described below:

1. Global Accessibility

As crypto currencies are not like traditional currencies that belong to certain countries, these enable borderless transactions. So, you can use this payment gateway to enable worldwide payment on your site without worrying about currency conversions or international fees.

2. Faster Transactions

Transactions made via crypto currencies are much faster than the traditional banking methods. You can use this payment method on your site for faster processing of transactions.

3. Lower Transaction Fees

Cryptocurrency payments are offered with lower fees compared to credit cards or traditional payment gateways. So, using this payment gateway on your site will be cost-effective for both you and your users.

4. Enhanced Security

Blockchain technology ensures secure, tamper-proof transactions, reducing the risk of fraud or chargebacks for businesses. Using this on your site will help you gain your users trust and hence user engagement will increase.

5. User Privacy

While making transactions via crypto, users do not have to share their sensitive personal information which offers more user privacy, then any other traditional payment method.

6. Decentralization

As decentralization is a core principle of blockchain technology and cryptocurrencies like Bitcoin and Ethereum, crypto payments reduce the reliance on banks or any concentrated central authority. In a decentralized system, the data or transaction records are stored across multiple nodes in a distributed ledger.

7. Future-Ready Payments

More and more people are using crypto payments, so it is better to future ready your social networking site and start accepting these payments.

8. Ease of Integration

Modern crypto gateways, like CoinPayments, simplify the process for businesses to accept and manage cryptocurrency payments seamlessly.

Once configured, your users can effortlessly recharge their wallets and make payments using their preferred cryptocurrencies.