More retail forex brokers around the world can now offer their clients the option to fund their trading accounts with cryptocurrency. A tech provider from the FX industry, B2Broker, has created a simple platform for the online businesses to roll out.
Also Read: Independent Ratings Agency Alerts Investors About Dangers of Tether
B2Broker Cryptocurrency Payment Gateway
B2Broker, an aggregator and provider of turnkey, cloud, and liquidity solutions for the foreign exchange (FX) industry, has launched a new cryptocurrency payment gateway. The system is fully automated for both deposits and withdrawals and is translated into 10 languages. It also offers an improvement in the transaction speed to less than 20 seconds, compared with traditional payment gateways which can take days.
Beyond just online retail forex brokers, the company says the solution was developed to cater for a wider spectrum of business clients. These include cryptocurrency exchanges, ICO campaigns, hedge funds, online stores and other merchants wishing to accept cryptocurrency payments.
Evgeniya Mykulyak, COO of B2Broker, commented, “We believe our crypto gateway will prove to be one of the most popular B2Broker products. We have responded to our clients who want to accept payments in cryptocurrency due to its popularity and are looking to expand their potential client base. With our cryptocurrency gateway, our main focus is on convenience, speed, security and cost-saving.”
Plug and Play
As the company focuses on turnkey solutions, such as white label services for MT4 and MT5, an easy integration process is an important feature for its clients. The gateway can be integrated via a single API making it possible to get up and running very quickly. New cryptocurrencies can be added in as little as five minutes by simply providing the addresses of the wallets into which payments will be received.
Merchants are offered three different options to collect their deposits. They can receive each cryptocurrency into their own wallets directly, convert everything into bitcoin, or convert everything into fiat and receive it to their banking accounts. The company says that cryptocurrency gateway payments are much safer and less vulnerable to fraud and DDoS attacks than traditional payment systems. B2Broker even takes full responsible for safety of money on transit wallets and promises that in the event of a hacking incident it will refund the merchant.
Do you think forex traders will want to deposit funds with cryptocurrencies instead of credit cards or bank transfers? Tell us what you think in the comments section below.
Images courtesy of Shutterstock and B2Broker.
Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.