The rising importance of a cryptocurrency payment gateway and XanPool's innovative solution to access digital assets.
Bitcoin and cryptocurrencies are considered an emerging asset class in 2021. The need of Bitcoin as a payment method and the benefits of digital assets has led to rise in the importance of cryptocurrency payment gateway solution. In this article, we look at XanPool’s innovative solution of cryptocurrency payment gateway, its different features, and how to leverage XanPool’s services from its fiat to crypto gateway to enable an optimum user-experience with digital assets.
The Importance of a Cryptocurrency Payment Gateway
The overall market capitalization of cryptocurrencies has surpassed $1.5 trillion as of March 2021. Leading cryptocurrencies like Bitcoin and Ethereum are at an all time high since their inception in 2008 and 2015 respectively. Moreover, institutional investments have become a leading trend in the cryptocurrency industry as prominent organizations including Tesla are investing in digital assets.
Retail activity of buying cryptocurrencies is also surging as more traders are investing in this new asset class. This growing popularity has subsequently increased the need for a reliable crypto to fiat payment gateway and an innovative cryptocurrency payment gateway solution that facilitates easy access to digital currencies.
Founded in 2019, XanPool offers a secure gateway for conversion of crypto to fiat and vice versa. Although its operations resemble that of a cryptocurrency exchange, it serves as an organization that connects buyers and sellers to each other on a reliable network.
XanPool: Crypto to Fiat Payment Gateway
XanPool facilitates users to exchange their cryptocurrencies into fiat and vice versa without taking the custody of customer’s funds. We offer the following features to enable an optimum experience while accessing digital assets.
Access cryptocurrencies - With our platform, you can not only access popular crypto like Bitcoin. But, you can also buy and sell altcoins including Ripple (XRP), Chainlink (LINK), Ethereum (ETH), Eos (EOS), Dash (DASH), and more.
Non custodial - XanPool does not take any custody over your cryptocurrency funds. It is an automated peer to peer network that allows instantaneous crypto transactions.
Local currencies - XanPool architecture allows a user to buy or sell cryptocurrencies using their local currencies. For instance, a user from Thailand can use Thai Baht (THB) to buy Bitcoin or receive THB by selling Bitcoin.
Access altcoins - Our feature of liquidity portal facilitates access to altcoins directly through fiat currency without converting it into an intermediary coin like Bitcoin.
Automated KYC - To enable a smooth and user-friendly onboarding process, our system offers automated process of KYC. This allows users to onboard and access our platform without going through a cumbersome procedure.
Local payment methods - Another integral feature offered by XanPool is the option to pay through local payment methods to engage with digital assets. For instance, a user from Thailand can pay via Prompt Pay to buy or sell crypto like Bitcoin.
Software solution - Our software provides easy integration for other platforms including cryptocurrency exchanges and wallet service providers to offer a crypto to fiat payment gateway to their customers.
XanPool’s Liquidity Portals
Most of the crypto to fiat gateway in the market today do not provide direct access to altcoins. If you want to buy or sell any altcoin like Ripple (XRP), you may need to convert your fiat currency into Bitcoin and exchange your BTC to receive XRP. The challenge with this three step process to access altcoins is that the procedure is cumbersome. Moreover, as altcoins are highly volatile in nature, the price of any altcoin rapidly moves up or down in a matter of few minutes. This further results in buying a altcoin at a higher price or selling it at a lower price than originally intended.
XanPool provides a solution in the form of liquidity portals that facilitate direct access to altcoins through your fiat currency without converting it into an intermediary currency like Bitcoin. With XanPool, you can directly buy XRP from your Thailand currency (THB) or your Hong Kong currency (HKD) in a one step process. XanPool partners with reputable and reliable cryptocurrency exchanges like OKEx to enable access to several coins like DeFi and stablecoins with local currencies and local payment methods. Its C2C software solution allows users to access altcoins without taking custody of consumer’s funds at any step in the process.
The liquidity portal allows you to buy altcoin directly into your OKEx wallet by depositing your preferable fiat currency. The liquidity portal feature of XanPool facilitates speed and convenience into the process of engaging with altcoins. As the process is near instant, you can buy or sell altcoin at your preferable rates without susceptible to volatility. Furthermore, as it allows you to directly engage crypto with fiat currency, the process is more convenient and easy.
In a span of less than two years, XanPool has built an ecosystem with a robust software solution and reliable partners. Currently, it supports nearly 30 different cryptocurrencies including prominent coins and even DeFi coins like ChainLink (LINK), Aave (AAVE), etc.
It has a growing network of 80 liquidity peers which facilitate the automated process of buying and selling cryptocurrencies through XanPool’s software solution. It currently supports its services in 8 countries including Hong Kong, Indonesia, Singapore, Thailand, India, Malaysia, Philippines, and Vietnam. Launched in 2019, XanPool already has 75,000 transacting users in over eight Southeast Asian countries and has plans to expand into Pakistan, Bangladesh, Russia, Japan, Korea, Australia, and New Zealand in the near future.