A new opportunity has arisen for Europeans. A platform named Coingate, headquartered in Vilnius, Lithuania, offers an “open source e-commerce solution” in partnership with Paris-based Prestashop.
The merger of the cryptocurrency payment network and e-commerce solution platform is a combination of these digital currencies.
The adoption of cryptocurrencies is Coingate’s first goal
Dmitrijus Borisenka, CEO of Coingate, said: Cryptocurrency adoption among savvy early investors is one of our top priorities. Prestashop is an innovative and popular payment method, as well as being cheaper than traditional card payment methods and making cryptocurrencies useful with the popularity of the Bitcoin tag, making it an ideal solution for small and medium-sized shops.”
More than 80,000 shops in Europe will be able to use cryptocurrencies
This new collaboration is expected to affect over 80,000 shopkeepers. The concept of this project is to combine these two crypto payment services to provide more efficient service.. Thus, the time required to complete payment transactions will also be reduced.
Mr.. Borisenka further commented: “There is a new market right now that has all kinds of cryptocurrencies and is willing to spend them, but there is still a huge gap between customers and sellers.. For this reason, it is very important to adopt a forward-thinking attitude by educating and encouraging businesses and to avoid misconceptions about cryptocurrencies.”
50 more cryptocurrencies will be accepted, apart from Bitcoin Cash
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Once the partnership is finalized, the team promises users that payments will be made pretty soon. Bitcoin Cash, Bitcoin and 50 more cryptocurrencies will be accepted as common payment method. From a shopkeeper’s perspective, this project provides a unique opportunity involving a highly developed cryptographic network.. An advantage for merchants is that they can be paid with a cryptocurrency of the seller’s choice.
Coingate’s CEO, Mr.. Borisenka says using crypto assets as a payment method is a safe financial source. “We will protect sellers from the risk of excessive exchange rate volatility by fixing the Bitcoin price at the time of purchase.. Sellers who choose to receive payments from us in Euros will essentially not need to touch any cryptocurrencies – we will take care of every single step of the process.”
The redemption process will be finalized in just two days, here comes the currency volatility issue.. Both companies have experience in international markets. For example, Coingate has 1,500 accounts worldwide, 50,000 users, and profits of €10 million per month.. Prestashop, on the other hand, has 250,000 online shops in 200 countries.
Both companies enjoy high popularity and good reputations from users.. Therefore, it looks like the partnership of these two companies will revolutionize the crypto payments industry.
Bitcoin.com