Hey entrepreneurs and startups, the cryptocurrency payment gateway is one of the most profitable businesses in the crypto field. It's the right time to start a crypto payment gateway business. Before diving deep you should consider giving a quick glance at multiple crypto payment gateways. Cryptocurrency payment gateway is software just like Bitpay and Coinpayments. Users can transfer their cryptocurrencies in exchange for goods and services. The admin can generate a lot of revenue from users’ every single transaction. That's why the crypto payment gateway business is an eye-catching business, especially in recent times. Now coming to the point, crypto payment gateway is developed using three methodologies,
- Open-source
- Scratch
- White label crypto payment gateway software
Open source - Many websites have open-source codes for payment gateway. It's an easy copy-paste process to develop a payment gateway within a short period. But, it has a major flaw. It doesn't have security and ”Anyone can easily hack”.
Develop from scratch- Entrepreneurs can hire a development organization to create from scratch. The whole idea and features will be designed as per the entrepreneur’s idea. It takes a lot of time and the development cost would be 3x of your estimation.
White label crypto payment gateway - Many software providers have already developed white label crypto payment gateway software like bitpay and coin payment with high security and the latest features. It is ready-made software and it only requires a few subsidiary customizations (logo, contact details). The entrepreneurs can launch a crypto payment gateway in the crypto market within 7 days. Cost is also affordable (⅓) when compared to scratch.
Considering these three methodologies, White label Crypto payment gateway software is preferred by most startups. Because white label crypto payment gateway software has all the features of their parent gateway. Example- White label CoinPayments clone software has all the same features as the CoinPayments payment gateway.