In this digital era, lots and lots of innovative technologies are introduced. Cryptocurrency is also one of the innovative technologies that are developed using blockchain. Nowadays, people depend on new technology only because it serves more benefits and makes things easy. In that case, cryptocurrency has resolved many issues that are faced by citizens during financial transactions.
As we know, With a single click we can transact multiple cryptocurrencies from one country to another. This kind of currency comes without regulation by a central authority but crypto is completely restricted in some countries. Currently, cryptos are widely used in many digital platforms. Also, they are printing their foot in the business platforms where money exchanges happen more. This made many merchants accept crypto as their payment. On the other hand, startups and entrepreneurs started to develop their crypto payment gateway to reap more profits. However, knowing the cost to develop crypto payment gateway is more important.
So, Now you might be curious enough about how much I have to invest in this process to create a crypto payment gateway platform. Right! Without any delay, let me reveal…
How much does it Cost to Develop Crypto Payment Gateway?
If you are planning to launch a crypto payment gateway platform for your business. Then you must know the cost behind the entire process.
The approximate cost to develop crypto payment gateway platform from scratch ranges from around $80,000 to $1,00,000. This cost depends on the entire development process it takes to complete a successful crypto payment processor. Also, it takes about a year to reach a successful launch. But the perk of using this method is that the entire platform is built upon your preferred ideas and customizations.
On the other hand, As a startup, if you are worried about your investments, then go with the white label crypto payment gateway solution. Because it comes up with the necessary functions and features to run a thriving crypto payment gateway platform as a business. Also, the overall cost will be low when compared to the above one, which is an additional advantage. The additional cost will be based on each feature you might be adding to your payment gateway platform.
For example, the overall cost of buying a white label crypto payment solution is $15,000. Then adding some features may cost around $5000 to $6000. On the whole, the actual cost of building one will be completely low when compared to the scratch.
Now you have an understanding of the cost of developing this platform. Before knowing what are factors behind these cost estimations are, let me start with the basics.
What is a Crypto Payment Gateway?
In general, a traditional Payment Gateway is needed to perform the credit/debit card transactions. It transfers only the crucial information on website/mobile devices and payment processors/banks. Likewise, the Crypto Payment gateway is a decentralized online payment processing platform. In this platform, users and merchants can send, receive, and transfer multiple crypto coins securely with high-end security mechanisms.
When it comes to multiple-crypto payment gateway platforms, It supports all the major cryptocurrencies. Such as Bitcoin, Ripple, Ethereum, EOS, and the list of crypto coins goes on. Besides these, the Payment gateway which accepts only Bitcoins is recognized as a Bitcoin payment gateway. The crypto payment network allows users and merchants and users to facilitate cryptocurrency payments easily. Not only easier but it also accelerates the speed of crypto transactions.
By developing a blockchain-powered crypto payment gateway, many merchants and users will start an account on your platform. Also, you can collect fees from those people when they withdraw their funds. Thus, many startups and entrepreneurs are willing to create a secure crypto payment gateway platform by connecting with leading crypto payment gateway development company. One such best company in the blockchain space is ZAB Technologies.
We, at ZAB Technologies, offer various crypto-related services and applications to worldwide crypto investors. In that case, we provide outstanding crypto payment gateway software cost-effectively to the startups who are intrigued to enter into the crypto-hyped market. If you are one among them, then connect with us for more insights.
Aspects that influence the Cost of developing Crypto Payment Gateway
The crypto payment gateway development cost mainly depends on some important factors that determine the whole proceedings in the development stages. They are,
Desirable features that you want to enable in your platform
When developing such a platform, understanding the key elements and necessary features is a must. So, adding and removing the necessary features or functionalities will impact your investment. Also, integrating the complex and intricate functions will impact your budget. the more intricate your features, the more the investment. Think about it.
Size and location of the crypto payment platform development team
The market is filled with a wide range of developers and companies who provide the best crypto payment gateway development service. But choosing the right team which suits your budget is very important. So, on selecting the right company, just look out for the hourly rate, experience, and more over the geographical location to understand legal compliance.
Technologies used
On developing a crypto payment gateway platform it is mandatory to know about the technology stacks to work out. Choosing the right tech stack from the blockchain, UI/UX design, back end frameworks, API integration and Testing, needs precise ideas. So, make up your mind with the right choice of frameworks and integrations, before developing a crypto payment gateway platform.
Most of the top performing crypto payment gateway platforms are now available in apps, which easily attracts the users and merchants. So, you can create a crypto payment gateway app which is more compatible nowadays with attractive features and functions. This also needs the right choice of tech. Choose wisely.
Also read: Top Cryptocurrency Payment Gateways in The market
Integration of advanced security features
Speaking of features, the platform will be update with the mandatory features to run successfully. To make you stand out from you counterparts, the crypto payment gateway must be integrated with the advanced security features, which is necessary for crypto transactions. Creating belief in a crypto payment gateway requires robust security measures. So, decide accordingly.
In addition to this, the cost also depends on offering multi-crypto support on your platform. To make all crypto payments securely on your platform, you must integrate cutting-edge security systems. So these factors also shapes the cost to develop crypto payment gateway. Thus, to make your platform more secure you need to invest a little more.
How Does a Cryptocurrency Payment Gateway work?
Crypto payment gateway platform works the same as the traditional payment gateways. Here digital wallets will be completely used instead of traditional credit cards. Also, business people will open a merchant account to start accepting cryptocurrencies. The crypto wallets can be either single or multi-currency wallets.
- Generally, crypto payments do not have any charge backs and can be rapidly processed. So, the main task of the crypto payment gateway is to process the essential information of the merchants and users who are facilitating crypto payments on the platform. Now, let us see the working process of the crypto payment gateway platform.
- When the user of the platform clicks the Place the Order button at the checkout. Then instantly the web browser or application encrypts the payment details. Also, transfers the crypto payment details to the merchant’s web server through an SSL connection.
- Once the merchant receives the user’s crypto payment details, the merchant sends details to the owner or admin of the platform with an encrypted SSL. The admin or owner of the crypto payment gateway platform sends the details to the payment processor.
- Then the payment processor receives a request and sends a response code. That response code has all the essential information about the transaction status.
- Then the cryptocurrency payment processor sends the response code to the gateway.
- Finally, the website or app displays the information to the user like payment is complete.
- This is how the crypto payment gateway platform works in the real world.
Noteworthy Reasons to Develop a Crypto Payment Gateway
- Your users and people who open merchant accounts can get trustable payment methods that work 24/7.
- Your user can perform cross-border payments. Also, your users can track payments.
- As an owner of the crypto payment gateway platform, you can reap more profits. Because you can collect withdrawal fees from the merchants when they withdraw their funds from your cryptocurrency payment gateway.
- Basically, the crypto payment networks are created with advanced security features. So there is no possibility of cyber attacks and malware activities.
- This platform provides you to keep the profits in bitcoin and other cryptocurrencies as an investment option.
- By launching your own crypto payment gateway platform, You can boost your profits and expand your business globally.
- As we know that cryptocurrencies are popular in all parts of the world. On the other hand, the usage of crypto is rapidly increasing. So anyone can use the crypto payment gateway to pay the merchants with bitcoins or any other cryptocurrencies.
- This platform avoids the interference of third-parties and other central authorities. So your normal users and merchant account users can have privacy and secure crypto payment.
- You can have your platform running in the fastest time. So there is no possibility of losing business in the meantime.
Fascinating Features of White Label Crypto Payment Gateway Development
As we know, features will play a vital role to create and launch a successful crypto payment gateway platform for your business. Here we list the essential features that you can get in the best crypto payment gateway development service.
User Features
- Home Page
- User Sign-in/ Sign-up
- My Profile
- Security
- KYC
- Dashboard
- My Wallet with Deposit and Withdraw Functionality
- Deposit & Withdraw History
- Support Ticket Submission
- Transaction History
- Merchant Tools
- Button Maker and Examples
- HTML Post Fields
- IPN and IPN History
- API Key Generation
- Account Settings
Admin Features
- Sign-in
- Dashboard
- View Users
- View User Deposit/Withdraw History
- Merchant Payment History
- Commission Settings
- Merchant Details
- Merchant API Category
- Security Settings
- Content Management System
- Support System
By enabling these features, you can build a secure and superfine crypto payment gateway platform. Also, you can attract global crypto users and merchants easily.
So far you have got an idea about the basics of crypto payment gateway development and how much it costs to develop it. As I already mentioned above, If you are a person looking to develop a feature-rich Crypto Payment Gateway platform at the fairest price in the market. Then ZAB technologies will be the finest solution for your business. But…
Why Pick ZAB Technologies for Crypto Payment Gateway Development?
ZAB technologies is a well-known and fast-growing crypto payment gateway development company in the blockchain space. We excel in offering the best crypto payment gateway development service with perfect outcomes at an affordable price. We offer the finest and complete services related to cryptocurrencies and blockchain. ZAB Technologies has a well-skilled and dedicated team of blockchain developers who can adopt various technologies to develop and deliver the best crypto payment gateway platform. We develop blockchain-powered crypto payment gateway platforms for major platforms like the web, Android, and iOS. ZAB technologies have 100+ happy clients across the world. This made many startups and entrepreneurs approach us for creating blockchain products for their businesses.
If you still have queries on the cost to develop a crypto payment gateway platform. Then talk to our team experts right away!
