Crypto Payments Integration and IgnitionDeck

It wasn’t too long ago that IgnitionDeck supported integration with Coinbase. They changed their APIs and we decided against updating our plugin to keep in step with the changes. In truth, we didn’t feel like Coinbase provided the necessary flexibility to offer a truly robust Crowdfunding solution that uses Crypto for our customers.

Enter CoinPayments

CoinPayments, Inc. is a company that specializes in cryptocurrency payments and transactions. However, it’s also a digital currency storing wallet, similar to Coinbase.

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CoinPayments website

The company was founded in 2013 and is based in Vancouver, Canada. Its business model mainly targets potential investors and cryptocurrency traders. The company aims to attract these people by offering a flat fee of 0.5% – this means that whenever you buy, sell or trade cryptocurrencies, 0.5% of the sum is taken as a service fee by the company.

CoinPayments has become a bigger player in the crypto space because they’ve built a platform that is easy to develop for several products and services and have created integrations through their available API. In fact, one area that has seen a substantial level of adoption is payment gateway integrations. You’ll notice on their listing of supported shopping carts that WooCommerce and Easy Digital Downloads are included.

Supporting All the Coins

One thing that sets CoinPayments apart from other services is the wide variety of altcoins they support. As of this writing, they support 1900 altcoins, there are roughly 6,000 currently. While that’s impressive, you may only concern yourself with one or two altcoins.

$PayByName

One compelling feature that CoinPayments offers is called $PayByName.

$PayByName™ is a unique CoinPayments feature that is designed to enormously simplify the process of sending and receiving payments via numerous different crypto coins inside the CoinPayments ecosystem and a selection of apps through their partner Netki.

The feature offers one chief benefit in that allows the user to send or receive payments without having to copy and paste wallet addresses. Now, if you’re a total newbie to the cryptocurrency ecosystem, here is what a typical Bitcoin (BTC) wallet address looks like:

A Quick Guide to $PayByName™ in CoinPayments

$PayByName™ is a unique CoinPayments feature that is designed to enormously simplify the process of sending and receiving payments via numerous different crypto coins inside the CoinPayments ecosystem and a selection of apps through our partner Netki.

The feature offers one chief benefit in that allows the user to send or receive payments without having to copy and paste wallet addresses. Now, if you’re a total newbie to the cryptocurrency ecosystem.

A lot of CoinPayments reviews explain this feature in many different ways, but probably the clearest one out of the possible explanations is a fingerprint comparison.

Think of it as a unique username or like a CashTag, if you will like CashApp has implemented. You can then use your unique ID to authorize payments from your CoinPayments account/wallet.

Your tag would look something like this:

$Name instead of one of the addresses in the example above. So, if, for example, your name is Alex, your tag would be $Alex. Simple, right? That’s so much better to use and easier to remember than a string of letters and numbers.

IgnitionDeck + CoinPayments?

Yep. We’re in the process of developing a module for IgnitionDeck that integrates with the popular CoinPayments platform.

Our next steps are to finish the principal development for the module, conduct internal testing, and then put together a beta test list of interested customers who can help with the bug hunting.

To process CoinPayment transactions as a Crowdfunding platform creator (and Crowdfunding campaign creators) you’ll require a CoinPayments account. Crowdfunding campaign Backers won’t require a CoinPayments account and can pretty much use any wallet provided they are paying with a Coin supported by CoinPayments.

Sign up to be a Beta Tester

If you’re interested in becoming a beta tester be sure to click the button and fill out our form and let us know you’re interested and what you’ll do with this new integration