Crypto Gateway

BestRate Crypto Gateway

Crypto Gateway is a product first presented for public use in May, 2018. The product is designed for blockchain projects willing to concentrate on developing their products rather than making solutions to accept and distribute internal payments in digital assets, like custom bitocoin, ethereum processors. 

In other words, if your project needs to accept payments in bitcoin, ethereum, waves, tron, eos and other 120 cryptocurrencies and send some internal utility tokens for your users, you can automate this task via Crypto Gateway and reduce costs for development, hosting your own blockchain node, design and management. We’ll provide you with robust solution to suit your needs. 

 

Crypto Gateway Configuration Steps

Let’s check the product functionality in details. Please select Crypto Gateway in the menu on the left, after this create your widget.

Inside the product configuration, you’ll see the submenu, which consists of:

  • General Settings
  • Configuration 
  • Transactions
  • Rates 
  • Documentation

 

General Settings

Inside the General Settings, please provide the Widget name, select blockchain that you’re willing to use(at the moment, we natively support Ethereum, EOS), also you have the ability to use TUSD as it is ERC20 token too.

If you click “Mobile View” or “Change Colors” in the right upper corner of your live demo widget, you’ll be able to customize the widget with your branded colors, adjust size, etc, and check how it will look for mobile devices.

Now it’s time to choose your integration mechanics. BestRate supports four types of integrations: 

  1. Generated Addresses 
  2. Static Address 
  3. Smart-contract 
  4. Token Holder

Let’s go into the details of each integration scenario. 

 

Generated Addresses” – is designed for projects that already have generated crypto addresses for each user. In such case, each user registered on this particular project already gets ETH(for example) address assigned to his profile. In this case, project may use this integration scheme in order to facilitate the user flow, as project already knows ETH address for each user and there is no need to ask him this information twice. 

Static Address” – the project is willing to accept all payments to project’s standalone wallet, for example, created with MetaMask or any other wallet service. It also can be the address from crypto exchange account. In this scenario, we’ll send all payments to this address, however, project needs to send / distribute all the tokens manually. This method is not advisable, as it doesn’t provide any automation for token distribution from BestRate’s side. 

Smart-Contract” – this method will provide the following scenario: BestRate gets all the payments in crypto, converts it to ETH(for example) on the fly and send directly to the smart-contract address of the project. User is asked his ETH address during the payment and get the correct amount of tokens directly on this wallet from the smart-contract. 

Token Holder” – in this case, BestRate will generate the token holder blockchain address. Project can send some tokens to this address. All payments are accumulated on the same address as well. 

 

According to our experience, “Smart-Contract” and “Token Holder” integration schemes are the most convenient for most of our clients. 

After choosing the integration type, please provide your Token Ticker and Token Name. The last part is to fill in your domain. By default, we provide 2 domain addresses: one for testing, one for production. Please note, that widget will work only for the provided domain address. 

Please click Apply to save all your settings. 

Configuration

Now let’s move to the second menu: Configuration. 

Please choose the default deposit ticker. This means the currency that will be shown to the paying user by default. 

If you click “Exchange only selected tickers” you’ll be able to limit the number of currencies that you would like to accept. In the example above, that would mean that we are willing to accept BTC and ETH only. 

 

The last part of this configuration screen is to select the additional fields. Additional fields mean additional information that you want to collect from the user, like name, surname, country, company, etc. Please note, that BestRate doesn’t verify this information anyhow. You can also choose if it’s a required field or optional, if you like to collect user’s email, please click “is email field”. 

 

Rates

Now let’s choose rates for your token. 

First of all, fill the default value for the default currency of the widget. The user will be able to select another one, no worries, but this is what he will see first. 

 

Secondly, please choose if you wish to select the rate manually or automatically(which means that we’ll take the rate from one of the supported exchanges if your token is listed there already). You’re also able to choose the currency of the rate in USD, EUR or crypto. 

 

Ranges mean that you would like to limit the amount of crypto that you would like to accept per user. Let’s say it can be from 1000$ to 5000$ per one user or the same amount in crypto. 

 

Bonus program implies to those projects that are willing to give the users some bonuses, based on the amount of payment. For example, if a user pays 1000$ to 2000$ he gets no bonus, 2000$ to 3000$ the bonus is 5%, etc. This fully customizable part. 

 

Please press apply after all the changes. 

Transactions

You’ll be able to track all the transactions and their statuses in this section.

Documentation

Here you’re able to watch the YouTube video regarding the product setup and check some particular API methods, like how to optimize the user’s flow by providing email and crypto address of the user using the API, etc. 

Now, when everything is set up, please click “Apply” and “Get the Code”. We’ll generate the Javascript code and provide you with the instructions on how you can insert it in your application. 

Terms

After registration, we provide every user 1 day to check all BestRate’s products. After 24 hours, we kindly ask our clients and testers to go to Account->Subscription, choose the plan(please choose Crypto Gateway plan in order to use the product described above) that suits your needs and enter your bank card. After that, we’ll provide you a with free 30 days trial without any charges from BestRate’s side for your convenience. You’re able to remove your subscription or update your plan at any moment by clicking at your plan in Account -> Subscriptions.

If you have any questions, please contact us at [email protected]