Since the crypto boom in 2017, several e-commerce platforms have started accepting cryptocurrencies. But many businesses are still afraid of using cryptos, as their prices fluctuate quite drastically. To curb the effects of volatility and give merchants the opportunity to use cryptos, Sendbit.io has launched a blockchain wallet and a suite of developer tools.
Find Out More About the Sendbit Company
Sendbit began its official activity this year, but the project has been in development since 2014. The platform has its own in-built code, thus cutting any reliance it might have on external source codes and preventing major security issues.
The website created solutions that enable online Bitcoin payments to be easily integrated on merchant platforms and blockchain wallets that protect against crypto market fluctuations.
Sendbit is not owned or managed by any company other than itself, with its main office located in the UK, at the 4th Floor Colmore Gate 2-6 Colmore Row Birmingham B3 2QD. The team of the company currently has 20 members, but more will be joining soon.
Sendbit.io Services and Tools
Sendbit.io has developed its own exchange that lets users buy cryptos with fiat, exchange them into fiat, or trade them for other cryptocurrencies. The platform currently supports four crypto assets, namely: Bitcoin, Bitcoin Cash, Litecoin, and Dash.
Sendbit.io is also a card issuer, providing prepaid cards that can be funded with cryptos. The funds are converted into USD when the card is used.
Blockchain Wallets for Users and Merchants
Business owners and regular users are able to send, receive, and store crypto and USD in the secure blockchain wallets provided by Sendbit.
There are two types of wallets: the first non-custodial blockchain wallet is for standard users, and the latter is a business USD account.
The business wallets have high-speed Bitcoin transactions, as they have the Lightning Network protocol implemented. Once the merchant receives Bitcoin in his wallet, it will be immediately turned into USD and sent to his business account with a static value.
As there are no lengthy delays in Bitcoin transactions, business owners do not have to worry about losing any money because of price volatility.
Business Dashboard For Static USD Merchants Standard Dashboard Non USD
Security Implementations and License
Sendbit UK Ltd holds an Estonian license, which allows the company to legally offer crypto and fiat transfers and storage solutions.
All the important data collected from its users is kept on servers that have no internet connection, keeping hackers and other threats at bay. The private keys of the blockchain wallets belong only to its user. Keys and transactions are stored in an encrypted format through the AES-256 algorithm. Two-factor authentication is also available to enhance account security.
Sendbit generates a new address every time a transaction is made to your account, preventing anyone from connecting these crypto transfers on the blockchain.
Advantageous Fee System
Sendbit.io does not burden its users with high charges or hidden fees. A flat network fee of 1% is applied and nothing more. The miner’s fee can be adjusted as low as the user wants and avoid paying too much on these fees.
Merchant Site Integrations
Sendbit has a diverse selection of e-commerce tools that can be used to enable site owners to receive Bitcoin for its products. Shopping Cart Buttons, Shopping Cart Plugins, and standard buttons are some of the features available for free on the platform.
The list will soon feature more Shopping Cart Plugins, such as WooCommerce, WordPress, Drupal, Magento, Opencart, Prestashop, OSCOMMERCE, Shopify, WHMCS, Ubercart, Xcart, and Zencart.
More available tools that can be used from Sendbit are:
- API & IPNs;
- Invoice Builder;
- Point of Sale (POS) Interface;
- Donation Buttons.
Regular users can put in a ”Buy Now “ button on an item by using the standard buttons.
Sendbit.io reduces the risks of Bitcoin price volatility for online merchants by offering fast blockchain wallets and accounts, as well as a simple and free solution for their sites.