Paybear Platform Overview | Crypto Payments Today with Paybear.io
Hello Digital Nomads! Today We are overviewing a Paybear platform for easy crypto payments
Introduction and Overview of Paybear Crypto Payments
Paybear .io Platform is trying to achieve easy and cheap crypto payments solution which integrates into most popular e-commerce platforms.
This API allows accepting Ethereum, Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Dash and Ethereum Classic payments. More details can be found on their website: https://www.paybear.io
I feel like this project is doing many great things, so I'm very interested in presenting this solution to everyone that might find this helpful. This project is currently working on an easy integration which allows store owners or someone who wants to run any sort of e-commerce, subscription service to accept multiple cryptocurrencies in no time with easy integration.
What problems is Paybear addressing?
So, You are a savvy business owner or just up a regular person on the internet trying to provide some value and get a reward in a form of decentralized, borderless value exchange we around here call cryptocurrencies. What do You do next?
If you want to allow Your customers or audience to pay with these crazy cryptocurrencies that everyone is talking about like Bitcoin, Ethereum, Litecoin and many other cryptocurrencies that are quickly emerging.
You might find this world very scary and just throw it to a side, saying that risk/reward ratio is not there and You don't have time for it. Multiple API's for every single cryptocurrency, wallet addresses, critical bugs that can lose You sales, unique quirks You have to work around in order to accept it as a form of payment is too much work for even most tech advanced business owners at this point.
Paybear is trying to solve all of these issues with a plugin which integrates into e-commerce platform in hopes of making this transition pretty much effortless or as simple as setting up a new plugin. They already have a working product or at least minimum viable product with a big roadmap of implementing a variety of cryptocurrencies in a future as well as expanding features for an entire platform.
Platforms currently supported by Paybear
They have working API integrations for some of the more common e-commerce platforms like WooCommerce, PrestaShop, OpenCart. Seems like they are currently working on Magento, and if they would manage to prove useful and provide value to all of these shops. That would be a great thing and I'm sure Shopify would want to speak with them.
One of the most important advantages we could cover is just a simple fact that this is way cheaper then using Stripe or Paypal. There are multiple countries which have so many issues with Stripe, as well as business owners who can't even apply for Stripe. This is a great solution for them on top of everyone else who just wants more payment gateways for their customers with smaller fees.
No monthly fees. Registration is fast, easy and free. There is no monthly fee either.
Choose your speed. You’re in complete control of how fast you want your transactions to go through the network.
No Chargebacks. Fraud is a thing of the past thanks to crypto’s built-in anonymity and privacy benefits.
Get paid within seconds, not days. The money you make from your customer is sent to your crypto wallet instantly.
Free microtransactions below $10. Pay only the sending fee, which can be as low as 1¢.
All businesses are accepted. We welcome all businesses big or small, and regardless of your sales volume.
Global availability. Cryptocurrencies have no borders. Businesses from all countries are accepted.
They are typically 10x cheaper than traditional payment processors!
What’s the minimum/maximum payment I can process?
Due to a limitation of the Ethereum system the minimum payment is 0.001 ETH (about USD 67¢). There is no maximum payment restriction.
The Paybear team recently announced a partnership between PayBear and MakerDao.
They are working closely with the MakerDao team to integrate the Dai stable coin along with its Lending Platform (CDP) into the PayBear payment gateway and upcoming wallet.
What this means for our users: - PayBear merchants will be able to accept payments with Dai
Our upcoming wallet will include Dai support at launch
Their wallet will have an option for merchants/users to convert their crypto into Dai
Currently, they are developing a simple interface for merchants to interact with MakerDao’s CDP system
ICO platforms that integrate with PayBear’s ICO platform will be able to accept Dai as a payment method.
By integrating tightly with the MakerDao project, they will be able to address some of the most serious concerns associated with cryptocurrencies - the risk of price instability.
It’s one of the many steps their team is taking to bring cryptocurrencies to everyday merchants.
Future of Paybear and Conclusion of crypto payments gateways
So let's sum this up. Paybear is easy to manage, easy to install merchant solutions for a range of cryptos including BTC ETH DASH & others.
Presently no upfront fees making them materially cheaper than PayPal
Great website/team
I really like this project and would encourage You to strongly consider it if You are an owner of any sort of blog or e-commerce shop which sells physical, digital products.
I'm sure with time adoption and implementation will become easier. This feels like what we need in this space more than people staring at charts and just speculating price of coins.
Hopefully, this project continues to be developed and I would love to help them in any way I can. Starting with this blog post. It has potential to compete with such giants as Paypal and Stripe though convenience and cheaper fees, which is a great proposition for any business owner.
Useful links and resources to learn more about Paybear
