BestRate WooCommerce plugin for crypto and card payments

[badalien]

We are happy to announce that WooCommerce plugin for crypto and card payments is ready!

If you are a retail shop or any other business, which wants to accept bitcoin and other crypto coins as a payment for the goods or services, you can easily start doing it with BestRate. Ecommerce usually underestimate the power of bitcoin, however, it’s always a good day to start accepting crypto payments.
We are happy to show you the use case by one of the first BestRate customers for WooCommerce plugin – Fraktality.com. These guys are making sweet unique holograms and phone accessories. Please check how it works by yourself!
Here are key benefits to start accepting crypto payments with BestRate:

• No fees from BestRate
• Free trial period for testing
• You use your own crypto wallet address in the system, we don’t have access to it
• We instantly process your payments, no withdrawals
• If crypto market is too volatile for you, we can exchange crypto to stable coins (TUSD) on the fly

Check this link for more information:
https://bestrate.org/woocommerce-crypto-plugin-bestrate/

[ethercare]

horrayy...thanks. I will try
 

[hugeblack]

• No fees from BestRate
• Free trial period for testing

There is a discrepancy between the concerned or in other words: you will pay a fee but when the trial period expires and make the first advantage useless.

I read here ----> https://bestrate.org/faq/    that the exchange is done by Changelly, ShapeShift,...etc. What happens when these platforms impose some restrictions (KYC)? Will the account be verified by this service and then you can use this option?
If the above option is acceptable, will there be a re-fund "We returned to the trust box after verifing the identity"?

Overall the interface looks good. I may use it in the future

[badalien]

Hi,

Thank you for pointing this out. FAQ is a bit outdated, we would need to correct it. Technically, we have the ability to perform crypto exchanges at 100+ exchanges, depending on the coin, liquidity, etc. No KYC is required as for now for the merchant, only domain verification inside the BestRate's personal cabinet.

"No commissions" means that BestRate doesn't take any additional fees for exchanges / swaps of the cryptocurrency. Thus, we do not take any commissions for FIAT -> Crypto, so with us, users have one of the best 5% commission (10$ min) from Simplex, without any additional "partner fee" for BestRate. The situation with commissions is quite unclear at the market at the moment, some services take big commissions for the big amounts, some use very shady and tricky approaches due to market volatility. Our API use the top exchanges, and some new functionality will come soon, making the process even more transparent for our users.

We monetize our services through clear subscription, at the moment, we plan to make it 49$/month for WooCommerce plugin. Although all beta-testers get it for free

Would be happy to know your thoughts!

[Harlot]

Thank you for pointing this out. FAQ is a bit outdated, we would need to correct it. Technically, we have the ability to perform crypto exchanges at 100+ exchanges, depending on the coin, liquidity, etc. No KYC is required as for now for the merchant, only domain verification inside the BestRate's personal cabinet.

So are you saying that only you will be the one required to have KYC on all of the exchange platforms you will be using? Just by the sound of it you might be doing things illegally as youbare somehow running an illegal exchange. Unlike Coinbase and Bitpay where they'll be the ones handling the exchange you will be converting the money from other services for other people and ot might not be a good idea. It's best for your business to be your own exchange in thos situation and user's might not like the idea that you aren't liquid enough to handle withdrawals on your own.

[badalien]

Hi Harlot,

We have our own accounts on the exchanges, so KYC is passed. We'll be making a slight switch in the scheme, allowing new functionality in the nearest future, that will take all these questions down. To the moment, we were focused on finding the best rate across exchanges and making the crypto payments easy. There will be further steps on the way. 

[badalien]

Hi,

Little update. After some testing, our plugin was officially published by Wordpress:
https://wordpress.org/plugins/bestrate-checkout-for-woocommerce/advanced/

More details can be found here:
https://bestrate.org/bestrate-woocommerce-crypto-plugin-official-release/

Main advantages are comparing to Coingate, CoinPayments  or any other competitive projects are:

• No commissions from BestRate
• Card payments support(conversion to crypto)
• Free trial period 14 days
• You get paid on-the-fly to your own wallet(no middleman)
• Subscription is 49$ per month, no hidden fees

[badalien]

Just a quick update: now you can choose your crypto exchange account to collect your funds there. In this case, you're able to withdraw them to FIAT at any time.
https://bestrate.org/how-to-use-crypto-exchange-as-a-payment-gateway/