Digital currencies like bitcoins are more and more being used for business purposes. But unlike the usual currencies, there are certain disadvantages associated with digital currencies and that makes them very difficult for the bitcoin payment gateway developers as there are many parameters involved in its creation.
Firstly, let’s understand the factors that make the job of a bitcoin payment gateway developer a bit difficult.
The digital currency in context is not under any centralized control. So developers require incorporating the feature while developing the payment gateway.
This type of currency cannot be traced because it has a different way of storing. There are bitcoin wallets meant for storing this type of currency.
Moreover, the currency is not under any governmental control, and because of which it can be used for legal as well as illegal purposes.
There are many unknown bitcoin users and tracking them is difficult. So while integrating the bitcoin payment gateway, profiling unknown bitcoin users is very important.
The payment processor needs to incorporate all these features. Moreover, when users make any transactions using the bitcoin payment gateway then the security, confidentiality aspects need to be encompassed. Another fascinating thing about bitcoins is that the transactions are not encrypted. In an e-commerce website, the developers can incorporate features to provide encryption during a transaction.
More and more, people are using bitcoins during transactions. As a cause, the demand for e-commerce websites with bitcoin payment gateway integrated into it is increasing. Cryptex is the solution source that helps the majority of their clients in the integration of a secure Bitcoin payment gateway.