CoinPayments: how it works?

[Loque]

I just signed up for a CoinPayments account to receive micro payments from customers of my web site.
I set up all features and I attempted to simulate a payment. It looks to work fine.
I'm just asking for which purposes the KYC verification is needed for.
And how can I widthdraw funds then.

Please someone can clear me these doubts?
Thanks

[1714131460]

1714131460

[OmegaStarScream]

According to this blog article, the only users who are supposed to go through KYC are the ones who are using their conversion tool (through ShapeShift). So If you're not doing that, that should not be a concern.

If you want to be in full control of your funds and to not run into issues in the future, you may want to consider other options for accepting payments such as BTCPayServer.

[Loque]

First of all thank you for the detailed answer.
About BTCPay Server: unfortunately the script I'm using is bought from a coder site. I can't customize it unfortunately.

[PassThePopcorn]

First of all thank you for the detailed answer.
About BTCPay Server: unfortunately the script I'm using is bought from a coder site. I can't customize it unfortunately.

Can't or don't know how to?

[Loque]

Don't know, unfortunately. I'm studying php to solve this and other site problems.

Anyway it's a funny news. CoinPayments scammed me with the initial 3 customers ahhahaha
Blocked my account for: possible fraud site.
While my site sell software written in vb.net produced by.......... ME!
I had to refund my friends with paypal... yes they bought to test the new system. (Care that paypal is not better  )

Anyway, I go with classic way. They pay me with BTC and I with a local wallet will enjoy my funds.

[swirl]

thats ironic to entitle customer as fraud while itself dealing/listing all these shtt coins  lol lol

[BitMaxz]

Don't know, unfortunately. I'm studying php to solve this and other site problems.

Anyway it's a funny news. CoinPayments scammed me with the initial 3 customers ahhahaha
Blocked my account for: possible fraud site.
While my site sell software written in vb.net produced by.......... ME!
I had to refund my friends with paypal... yes they bought to test the new system. (Care that paypal is not better  )

Anyway, I go with classic way. They pay me with BTC and I with a local wallet will enjoy my funds.

What software or CMS you are using to develop PHP or are you just creating a website with Dreamweaver?
I suggest you to try WordPress as your CMS and BTCpay as your plugin you can use their 3rd party hosted payment processor.

You can find all guides to implement BTCpay in your website from here https://docs.btcpayserver.org/

CoinPayments nowadays is not advisable to use due to many countries are restricted.

If you are looking for another payment processor to accept BTC you can check this List of Awesome Bitcoin Payment Processors

[JollyGood]

According to this blog article, the only users who are supposed to go through KYC are the ones who are using their conversion tool (through ShapeShift). So If you're not doing that, that should not be a concern.

If you want to be in full control of your funds and to not run into issues in the future, you may want to consider other options for accepting payments such as BTCPayServer.

I would recommend skipping past coinpayments.net and all other third party payment processors because Satoshi has a vision for P2P payments without the need for greedy third parties that take commission from your payments.

Check this for more information: https://bitcointalk.org/index.php?topic=4686228.0

[EdenHazard]

According to this blog article, the only users who are supposed to go through KYC are the ones who are using their conversion tool (through ShapeShift). So If you're not doing that, that should not be a concern.

If you want to be in full control of your funds and to not run into issues in the future, you may want to consider other options for accepting payments such as BTCPayServer.

I would recommend skipping past coinpayments.net and all other third party payment processors because Satoshi has a vision for P2P payments without the need for greedy third parties that take commission from your payments.

Check this for more information: https://bitcointalk.org/index.php?topic=4686228.0

Indeed , the invention of bitcoin powered by blockchain itself to remove the third party ..

but at some point a service like bitpay, coinpayments and any other third party payment processor is needed , especially when you have no idea about this self-hosted payment processor like btcpayserver ... or maybe simply you are struggling to configure your own btcpay server .. however appreciate it for sharing the link above about btcserver, cheers!

[BitMaxz]

Indeed , the invention of bitcoin powered by blockchain itself to remove the third party ..

but at some point a service like bitpay, coinpayments and any other third party payment processor is needed , especially when you have no idea about this self-hosted payment processor like btcpayserver ... or maybe simply you are struggling to configure your own btcpay server .. however appreciate it for sharing the link above about btcserver, cheers!

Coinpayments is not recommended to use they recently announced about restricted countries from here https://www.coinpayments.net/help-restricted
I already mention it above.
So if you are living in these countries listed from their page you are not allowed to use their service and also I think you can not use coinpayments if you have customers living in these countries.

Bitpay is good for small business but not for big business if you care about your privacy and care about your funds and looking for full control of your wallet Self-hosted wallet is always the best option.

Don't forget that Blockonomics is also a good option if you are looking for a hosted payment processor and mostly they have module and plugins to all CMS like WordPress or Prestashop.

[JollyGood]

For wordpress/woocommerce, this si what is states on their website: https://nomiddlemancrypto.io/

"WooCommerce Bitcoin and Cryptocurrency Payment Gateway
No fees
No registration
No logins
No middleman"

A simple way for merchants to get started without needing a third party plugin such as coinpayments so need to pay commissions and no need for server costs such as to pay for BTCPayserver.

Simple

[Loque]

Yes. BTCPayServer should be the best. The only thing is that you should be a programmer to integrate it. Or hire someone that create the integration for you.

[OmegaStarScream]

Yes. BTCPayServer should be the best. The only thing is that you should be a programmer to integrate it. Or hire someone that create the integration for you.

Not necessarily. You can always use third-party hosting services instead and that won't require any programming knowledge.

[JollyGood]

Yes. BTCPayServer should be the best. The only thing is that you should be a programmer to integrate it. Or hire someone that create the integration for you.

Not necessarily. You can always use third-party hosting services instead and that won't require any programming knowledge.

It should be as easy as using any third party plugins. I would trust BTC Pay Server over coinpayments and alike any day. I like the philosophy behind the project as it is very close to what Satoshi envisaged about transferring payments between senders/receivers directly without third parties taking commissions for facilitating something that should be free anyway.

Another option is for those using Wordpress/Woocommerce. With the fantastic plugin called "Nomiddleman" you can start accepting payments immediately without the need for servers and APIs and no need to use sign-up and register at any third party at all and you can start accepting any of the following currencies within seconds after you download. It is the easiest and most simple manner in which to accept mass payments using mass crypto options without paying third parties any commission.

I highly recommend it: https://wordpress.org/plugins/nomiddleman-crypto-payments-for-woocommerce/

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