What are the primary factors you need to consider before developing a crypto payment gateway?
Nowadays, the usage and prominence of cryptocurrencies are rapidly evolving in the digital market. According to a Modor Intelligence market study, the cryptocurrency market is expected to grow at a CAGR of 60.2 % until 2025. Similarly, we also give equal importance to transacting these valuable cryptocurrencies in a safe and secure way. This is where the crypto payment gateway comes into play a major role.
A Crypto payment gateway is a software tool that can transact cryptocurrencies in a safe and secure way. Also, it can instantly transact fiat to any other cryptocurrencies. Crypto payment gateways are extremely useful for the modern financial world. In recent times considering the beneficial factors of crypto payment gateways, a lot of entrepreneurs and startups have shown their willingness to develop their own crypto payment gateway.
Developing a crypto payment gateway is not as complicated as you think. It involves a series of steps you need to follow to finally get your feature-rich, result-oriented crypto payment gateway for your business. Let’s see the steps that are involved in crypto payment gateway development.
Understand the current market
The primary step of developing a crypto payment gateway is that you understand the current market i.e, you get an idea about the scenario of the current market of crypto payment gateway. After that, you can determine the complexity and features.
Developing methodologies of crypto payment gateway platform
Generally, crypto payment gateway platforms develop in two methodologies.
Develop from scratch - It is the process of developing a crypto payment gateway from the base (i.e), you need to select the right technology and other aspects. Developing a crypto payment gateway from scratch is slightly expensive and more time will be required. The more you spend on this method, the more you gain.
White label software - It is ready-made software that is pre-built with all the customized features as per your business requirements. Additionally, you can easily develop a crypto payment gateway in a cost-effective way.
From the above two ways, developing using white label software is an efficient and cost-effective way. On the flip side, you can also prefer the scratch method as it has some beneficial shades. However, the choice is yours. Do some market analysis and choose which is suitable for your business needs.
Consider the features of crypto payment gateway development
In developing a crypto payment gateway platform features play an important role. Here is the list of features that you need to consider.
User Sign-in/ Sign-up
Security
KYC verification
Admin and user Dashboard
Wallet integration
Deposit & Withdraw History
Support Ticket Submission
Transaction History
Merchant Tools
Merchant Payment History
Commission Settings
Security Settings
Content Management System
These features must be enabled for your crypto payment gateway and you can also customize these features depending on your business needs.
Have an Experienced Team
For developing a crypto payment gateway, you will need assistance from professional and well-experienced blockchain developers. So you must have a team who could help you to grow your crypto business.
Consider the cost and time period
The final step is to consider the cost of crypto payment gateway development that is suitable to your budget and also check the time period of fulfilling your project.
These are the essential things you consider before developing a crypto payment gateway.
Now if you got an idea about the development process of a crypto payment gateway then you can approach the leading crypto payment gateway development company in a crypto market. Nowadays a lot of amaeture firms are developing the crypto payment gateway. But keep in mind “All that glitters is not gold”. So choosing the right one is essential. From my market analysis in recent days I found one of the companies “zab technologies”. They are the leading crypto payment gateway development company in the crypto market and they can develop crypto payment gateway platforms with affordable cost and finest quality.
Also, talk to their experts directly via,
Whatsapp / Telegram @ +91 77085 29089