1. ALTCOIN
PAYMENT PROCESSING
The Pros and Benefits of Implementing a
Multi-Currency Payment Processing Platform
in Addition to Bitcoin
October 14, 2015
2. Introduction
Although Bitcoin is currently the dominant cryptocurrency
on the market, the ease at which Altcoins can be converted
into other forms of value eliminates the need to exclusively
rely on Bitcoin as the sole instrument for cryptocurrency
transactions.
By adopting a multi-currency payment processing platform,
businesses will benefit from increased market share and
greater revenue resulting from an expanded consumer
base of Altcoin users.
3. Key Benefits
In addition to the many advantages that Bitcoin currently
offers, Altcoins provide additional key benefits to
businesses such as:
ü Increased traffic and sales
ü Faster transaction speeds
ü Potential commissions and rewards
ü Developer accountability
4. Increased
Traffic and
Sales
Every Altcoin has a
dedicated community of
advocates who are
eager to evangelize and
promote individual
businesses that accept
their respective
currency.
This will result in free
grassroots promotion
and publicity which will
influence an expanded
audience of prospective
consumers beyond
those who primarily
utilize Bitcoin payments.
Bitcoin + Altcoin Market Capitalization*
Bitcoin
$3.7 Billion
* Based on total market capitalization on October 14, 2015 (via CoinMarketCap.com)
Altcoin
$515 Million
New Potential Customers
5. Faster
Transaction
Speeds
Sample Times for Verified Transactions*
Many Altcoins were
derived from the original
Bitcoin source code
which means they share
the same functionality.
However, most Altcoins
have been enhanced to
better facilitate merchant
payments namely faster
transaction speeds.
Faster transactions
speeds will inevitably
result in fewer drop-off
rates during checkout.
BITCOIN
60 minutes
MAZACOIN
10 minutes
TITCOIN
6 minutes
STARTCOIN
6 minutes
NETCOIN
6 minutes
MINTCOIN
3 minutes
* Based on average block times multiplied by 6 confirmations (per Bitcoin specifications)
6. Potential
Commission
and Rewards
Unlike the Bitcoin
community, Altcoin
developers routinely
offer free commissions
and rewards (aka
bounties) to participating
businesses and
partners.
This allows participating
businesses to be a
risk-free shareholder in
the success of each
respective Altcoin with
potential long-term
earnings.
Own a Free Stake in Altcoins*
* Varies based on each Altcoin’s commission and rewards program
7. Developer
Accountability
Most Altcoins are run by
dedicated teams of
developers and
managers who are
available to instantly
answer any technical
and logistical questions.
Bitcoin on the other
hand has no direct
accountability nor
dedicated support teams
to provide personal
assistance to
businesses and
consumers.
Ability to Directly Contact the Developers
Bitcoin Altcoins
8. Payment Processing Flow
Customer navigates
through the checkout
process to your payment
page. Customer selects
“Altcoin” as a payment
method and continues.
Customer is presented
with a page where they
can select their desired
Altcoin for payment. The
appropriate QR Code is
displayed where the
customer sends the
balance of funds they
owe.
After a few short minutes,
the balance of funds from
the customer will be
deposited into your
account where the Altcoin
is automatically converted
into Bitcoin for settlement
processing.
Once converted into
Bitcoin, you may utilize
your own settlement
processor or alternately
request a bank check be
issued in your currency of
choice.
1 2 3 4
9. Multi-Currency Partners
CoinPayments.net Cryptsy.com
CoinPayments is the premiere
Altcoin payment processor that
provides businesses with simple
tools that enable Altcoin integration
into all types of eCommerce and
checkout platforms.
Cryptsy is the premiere Altcoin
clearing house that allows
businesses to store Altcoin
payments with the added feature of
automatically converting Altcoins
directly into Bitcoin.
10. 35 Participating Altcoins*
* Complete list of Altcoins that are available on both the CoinPayments and Cryptsy platforms
11. THANK YOU =)
To learn more about the business benefits of cryptocurrency and for a free consultation…
Contact: edward.mansfield@gmail.com