Applications Blockchain Cryptocurrency Exchanges Market News Tech is Poised to be the Stripe of Crypto Payments

April 15, 2019
Saad Mohammad

author: is Poised to be the Stripe of Crypto Payments

Our regular coverage of crypto markets includes discussions on adoption, regulation, and innovation by companies and projects working in the crypto space. Here we review the services of a company that aims to promote adoption in B2B as well as B2C channels by combining the technical and financial benefits of crypto exchange with the seamless ease-of-use of plug-and-play online services.

A long-standing argument against cryptocurrencies is that they are difficult to use and too complex to understand. This, in fact, is the underlying reason governments and other regulatory bodies have often shown hesitation in giving blockchain-based projects and cryptocurrencies their blessings – you fear what you don’t understand. While there is certainly an element of these incumbents being worried about a replacement of the old and corrupt guard as well, it is a fact of life that we must live with.

One reason business process management evolved slowly, over decades, from outdated ITIL frameworks (which were designed to manage change) to agile approaches was because, no matter how good or an idea is or how perfect a product is, it will never gain market traction if it is difficult or confusing to use. The corollary to this is that, even if a good or service is imperfect, as long as it is easy to use, consumers will elect to use it over the competition. This is why all of the leading tech companies use agile approaches to development – quickly iterating between specs and features until the right one is arrived at.

These two points are the driving force behind, the bleeding-edge cryptocurrency exchange aggregator designed for use by both private individuals as well as established companies.

How exactly does Coinswitch address the issues of use and adoption?

With Coinswitch, you can buy, sell, and trade over 300 cryptocurrencies, altcoins, and tokens. The site also provides real-time stats, prices, and order information from the leading global exchanges. Furthermore, with support for over 45,000 cryptocurrency trading pairs and a unified experience that provide users with one place to access and interact with the cryptocurrency market, using cryptocurrencies is easier than ever before.

The service is popular as a plug-and-play install on your company landing page. Enterprise-grade APIs and support for any altcoin of your choice can help you integrate crypto trade, exchange, and payments right from your existing home page with a few clicks. This does away with the issue of managing exchange rates and deciding which coins to support and accept.

In short, Coinswitch addresses the issues of adoption and ease of use by delivering seamless integration of crypto services and features with any existing system with virtually no coding required. You can use the service to anonymously move tokens and there is no need to create wallets, remember logins, or use multiple platforms for different services because they are generally not available all in one place.

In this way, Coinswitch is poised to be the Stripe of the crypto space. It allows you to easily deploy customizable trade, exchange, and buy/sell options for the cryptocurrencies of your choice right from your landing page, bypassing often complex finance gateway setups required with traditional payment solutions such as ACH payments. It can be used by small-scale bloggers, popular influencers, traditional brick-and-mortar retailers, and even by small-scale businesses such as mom and pop stores and other local businesses. It can also help with crypto adoption in volatile economies that do not enjoy reliable local currencies as a store or measure of value – something that afflicts millions worldwide.

What the future holds

There is no telling where things will go from here, but all technical signs point to steady growth in crypto adoption – not to mention steady increases in crypto values as well. While services such as Coinswitch represent a small yet important part of the development of the ecosystem as a whole, they bode well for where things are likely to stand over the coming 6 to 12 months.