About 80,000 new merchants in Europe are teaming up to deliver more options for cryptocurrency enthusiasts.
Vilnius-based cryptocurrency payment gateway, Coingate, is partnering with Prestashop, a Paris-based open-source company to make more payment options available for cryptocurrency users. The partnership between both companies will increase adoption of cryptocurrencies and give users more options.
The CEO of Coingate, Dmitrijus Borisenka said:
“Our main priority is to encourage more people to adopt this technology. Cryptocurrency should not be limited to the tech-savvy adopters who took an interest in the cryptocurrency trading system in the beginning. Our company has the required base of stores that will use cryptocurrencies as a payment method. It is cheaper and more innovative than the traditional payment methods.
This partnership between both parties will spread out to about 80,000 merchants in Europe and provide users with a smooth experience.
“There is a new market of individuals who own different types of cryptocurrencies and are looking for the best crypto trading system and platforms to spend their cryptocurrency. However, there is a wide gap between customers and merchants that accept cryptocurrency. This is why we want to encourage merchants to adopt a positive attitude that can help combat the prevailing misconceptions surrounding cryptocurrencies.
Settlements Limiting Volatility
The team promised that merchants would have a payment module that will be easy to install after setting up an account with Coingate. The accepted cryptocurrencies will be Bitcoin core, Bitcoin Cash, and about fifty other cryptocurrencies. It provides merchants with a single payment solution. The payments will come in any currency the merchants choose.
According to Borisenka, cryptocurrency payment options are safe for users and merchants alike. Coingate has vowed to protect merchants from the risks associated with exchange rate volatility by locking cryptocurrency prices as soon as a purchase is complete. This way, merchants will not be affected
by the Bitcoin conversion rate.
The new system will increase adoption of cryptocurrencies in Europe irrespective of the Bitcoin conversion rate.