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Author Topic: altcoin gateway  (Read 385 times)
mymenace
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September 25, 2013, 05:33:41 AM
 #1

is there a way to accept payments from multiple altcoins

e.g.

I want to buy say a pizza but they only BTC how do I pay if I have say 1000MEC or a 1000FTC


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bibbit
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September 25, 2013, 08:05:30 AM
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is there a way to accept payments from multiple altcoins

e.g.

I want to buy say a pizza but they only BTC how do I pay if I have say 1000MEC or a 1000FTC

This one of the problems that ripple is designed to solve. However, there are very few gateways issuing altcoins on ripple right now, and since liquidity is low, the exchange rates have wide spreads. As more gateways start issuing altcoins and more trade volume develops, you would have better success.

With liquidity, the way ripple would work is that you enter the merchant's bitcoin address and select the currency to send (You would be shown the amount of your selected currency required). Ripple would find a path to exchange your currency for BTC.bitstamp and then that would be sent to the bitcoin bridge hosted by Bitstamp. Bitstamp would then send actual bitcoin to the merchant.

Several gateways issue LTC, but Dividend Rippler currently supports the most altcoins. The current list is LTC, NMC and TRC.
TheSpiral
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September 25, 2013, 08:08:45 AM
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There's this: https://coinpayments.net/index.php?cmd=supported_coins

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September 25, 2013, 08:13:27 AM
 #4

Thanks all for the info

good to see gateways in development

Grin
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