Hey entrepreneurs and startups, crypto-related businesses are getting huge attention nowadays. Many startups are marching toward the crypto community to start their business in the crypto field. Crypto exchange, crypto payment gateway, and crypto-wallets are some of the well-known businesses in the crypto field. Along with other businesses crypto payment gateway is one of the high revenue-generating businesses with considerably less competition.
A Crypto payment gateway is software that transfers cryptos between users and merchants. Most merchants start to accept cryptos as payment. In the future cryptos will replace fiat currencies and all merchants will accept cryptos as payment. Nowadays only a very few crypto payment gateway providers(Bitpay and Coinpayments) are available in the market. So, it's the right time to start a crypto payments gateway business.
Along with this above-market news, now let’s see, how to generate revenue from a crypto payment gateway. As I said above, the crypto payment gateway is one of the highest revenue-generating businesses. As an owner of a crypto payment gateway, you can get profited from every single transaction executed by the users. For example, let's look into the revenue-generating business models of Bitpay. They charge a fee for every single action carried out by its users and merchants. Mostly they generate revenue in 4 ways. They are,
- Processing fee
- Network fee
- Monthly subscription fee
- Refund miner cost
Processing fee - Merchants have to pay a processing fee to the bitpay venture. BitPay’s processing fee is 1% for all BitPay merchants.
Network fee - Bitpay must pay miners a fee for facilitating rapid verification of transactions. Bitpay pays these charges through their merchants’ and users’ fees along with a considerable profit margin.
Monthly subscription - BitPay offers a monthly subscription service that enables merchants and customers to do transactions for a certain time period at free transaction cost. For this service, Bitpay charges a one-time fee in exchange for a month-long service.
Refund miner cost - In case of an erred transaction, the BitPay invoice will initiate a refund. This service is quite hard to come by on payment gateways and Bitpay charges a minor interest before processing forward with the refund. This might seem to be an advantage of less magnitude, but this plays a vital part in correcting transactions involving a huge monetary involvement.
These are some of the revenue-generating modules of bitpay. Their main source of income is their transaction fees, which amount to 1% of the transaction amount. Now I hope everyone will be familiar with crypto payment gateway revenue-generating techniques. If you want to generate revenue like bitpay, you have built the best crypto payment gateway like bitpay. That's why lots of software companies provide a Bitpay clone script software for a crypto payment gateway business. The software-providing community is filled up with lots of inexperienced developers. Only a very few of them are providing the best outcome as expected. I recommend Coinsclone, which has experienced blockchain developers, designing experts, programmers, advanced working technology, and good reviews from clients. Contact them for a free demo and they will give the best outcome of what you expect,
Mail Id: hello@coinsclone.com
Telegram: https://t.me/Coinzclone
Whatsapp: +91 9500575285
Skype: live:hello_20214