Crypto 101: A Beginner’s Guide To Starting Crypto Payments

  1. Cryptography: Cryptocurrency works on cryptography, which hides and reveals information to ensure the security and anonymity of transactions.
  2. Blockchain Technology: A blockchain is an example of Distributed Ledger Technology (DLT). The technology powers the cryptocurrency system by digitally verifying accounts, transactions, balances, etc. Blockchains operate through nodes, an individual part of the larger technology. Without the existence of nodes, the system would collapse.
  3. Peer-to-peer: Cryptocurrency is a peer-to-peer network. That means transactions occur directly between two parties without the need for any third-party or broker interference. In other words, it is decentralized.
  4. Decentralized Finance: Decentralized Finance is a revolutionary financial system that eliminates the need for central authority figures like banks and other institutions. Instead, transactions take place directly between users through peer-to-peer networks.
  1. Bitcoin Cash (BTC): Known as “digital gold,” Bitcoin Cash is the gold standard for Bitcoin. After launching in 2009, Bitcoin is the reigning king. With a market capitalization predicted at almost $900 billion, it is the most successful cryptocurrency. However, investing in bitcoin is more expensive than investing in other cryptocurrencies. One single Bitcoin is currently valued at $48,950.30.
  2. Litecoin (LTC): Known as the “silver to Bitcoin’s gold,” Litecoin is the second-most popular and successful cryptocurrency in the current market. It debuted in 2011 as a fork from Bitcoin. Over time, Litecoin has proven its worth, and it is also faster and cheaper than Bitcoin. One Litecoin is presently valued at $178.93.
  3. Ethereum: Ethereum is quite different from Bitcoin and Litecoin because it doesn’t work peer-to-peer. Instead, it is a decentralized finance platform that operates smart contracts and distributed applications or dApps. It is also relatively new in the market, launched in 2015, and has a considerable market share.
  1. Coinbase: Coinbase is one of the first and largest crypto payment processors. It is usually used for bitcoin-related transitions and can be used by customers and merchants alike. Coinbase has excellent protection measures against any inflationary problems. Many online stores have started integrating Coinbase.
  2. Bitpay: Launched in 2011, Bitpay is the world’s most enduring crypto payment gateway. Here crypto-to-fiat transactions are allowed, along with online shopping plugins and more. Bitpay has partnered with some of the best international companies, including Amazon, Delta, Master Card, etc. They also offer multi-user features.
  3. Zapit: Zapit is a fast-emerging universal Bitcoin Cash payment app. It offers decentralized and peer-to-peer transactions. You can send and receive Bitcoin Cash from anywhere globally and also swap BCH for stable coins.

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Zapit.io

Zapit.io

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Zapit is a universal payment app with decentralised finances