In this episode of Cryptonized!, a source for insightful analysis on altcoins, NFTs, and the world of cryptocurrencies, host Mark Fidelman engages in a lively discussion with CoinPayments CEO, Sean Mackay. Together, they explore the future of crypto payments and its innovative landscape.
Here’s a breakdown of the topics covered, or listen to the podcast here.
Sean delves into the core functions of CoinPayments, revealing it as a robust crypto payment gateway and custodial wallet. He explains the platform’s versatility, supporting over 100 different coins as payment options and over 2,000 coins and tokens on the custodial wallet side. With pre-built plugins, integrations, and flexible APIs, CoinPayments seamlessly integrates into various e-commerce stores and other platforms.
Sean highlights the significant adoption of crypto payments in the iGaming and FOREX markets. Online casinos leverage crypto as a deposit method, offering players more flexibility. Similarly, FOREX platforms find crypto an effective solution, allowing traders to avoid exorbitant fees associated with traditional banking services. He adds that crypto is a really great solution for operators to avoid the high fees even if they can find a provider that will service them in the banking space.
The conversation shifts to the backend operations of CoinPayments. Sean explains the platform’s infrastructure, hosting its own nodes and monitoring specific blockchains for transactions. CoinPayments automates the process, ensuring seamless notifications for incoming payments and deposits, sparing users the complexities of incomplete or erroneous crypto transactions.
Sean talks about CoinPayments’ revenue model, emphasising the platform’s competitive advantage. While traditional payment gateways charge higher fees, CoinPayments charges as low as 0.5% fees on incoming crypto payments. This fee covers the service of handling transactions, converting crypto to stablecoins or fiat currencies, or transferring it to hardware wallets or exchanges, providing users with multiple options tailored to their preferences.
Mark and Sean discuss the evolution of crypto in real estate trading. They explore the challenges of fractionalizing real estate assets and envision the possibilities of blockchain integration for seamless trading on secondary markets.
Tune in to this episode of Cryptonized! to gain profound insights into the world of crypto, understanding the future of crypto payments trends, challenges, and innovations that shape this dynamic landscape.
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