How to Charge in Fiat and Accept DigiByte?
DigiByte has long been a favorite of businesses that enjoy the power of crypto payments. It has a speed of transactions envied by the leading projects on the market, including Bitcoin, and a forward-thinking team continuously improving the coin’s underlying technology. What more can you ask for? Well, merchants often find the number of clients willing to pay with the DGB crypto to be quite limited, which can be a problem if you want to receive more DGB. Luckily, the partnership between NOWPayments and Guardarian takes care of this issue by introducing automatic fiat-to-DGB conversion. Thanks to this tool, you now can charge your customers in fiat but get payments in DGB.
- DigByte crypto can enable businesses to gain new clients and lower expenses.
- The on-ramp solution lets merchants convert fiat payments to the DGB coin.
- Deploy the on-ramp solution using NOWPayments.
Advantages of DigiByte
DigiByte’s lightning-fast transaction speeds can significantly boost the efficiency of your operations. On average, payments made with DGB are confirmed in just 15 seconds, meaning users never have to wait long to receive their funds. Converting fiat to the DigiByte coin via NOWPayments also does not take much time, so you can always expect payments to reach your wallet in no time.
DigiByte can help you keep your expenses under control. DGB transactions are a great way to save costs and boost profits. Accepting DGB payments is incredibly affordable — with the average cost of a transaction being less than $0.1.
Compared to bank fees that can cost merchants tens of dollars for each transaction, DGB can really enable businesses to keep their costs down.
Open and private
The DigiByte network does not discriminate against users and stays open to everyone. There is no need to share any personal details to start sending and receiving DGB. This means that you can let your clients shop online anonymously using the DigiByte crypto. Offering an anonymous DigiByte payment gateway is a brilliant idea for businesses that value the privacy of their clients.
DigiByte is unbeatable when it comes to protection against any hacking attempts. It is practically impossible to obtain control over 51% of DigiByte’s network power. It also ensures mining decentralization Businesses that opt to store their funds in DGB are guaranteed that their money remains safe at all times.
Cryptocurrency payments are one of the easiest ways of getting new clients. Cryptocurrency communities are incredibly loyal to their coins and blockchains, and DigiByte is not an exception. By implementing a DGB payment gateway, businesses can create an actual use case for the coin, securing the support of the community.
How Fiat to DigiByte Conversion Works
NOWPayments makes it easy for merchants to accept payments in a variety of ways, including by converting their fiat payments to cryptocurrencies. As part of the partnership with Guardarian, our reliable EU-based partner, we are now able to offer our users the on-ramp solution.
Here is how it works:
- First, the Guardarian takes care of the fiat payment. At this point, you will need to pay a 1.5% fee plus $2.
- Next, NOWPayments handles the cryptocurrency sent by Guardarian, which is then credited to your crypto address. Here you will need to pay a service fee of 0.5%.
You can use the on-ramp solution for both invoices and the API tool. Invoices can be integrated with CMS plugins as a payment tool.
How to Let Customers Pay with Fiat and Get DGB Crypto
How to charge in fiat but get DGB via the API tool
- Create a new payment in the NOWPayments API. Set the fiat currency ticker in the “pay_currency” field.
- The API will send you the fiat provider’s payment link in the response.
- Send this link to your user, just like you’ve been sending the other payment links before.
- When a user opens this link, they have to pass a KYC check and pay Guardarian with fiat. While the payment is processed, you will see the “Waiting” status in your Personal Account.
- Once Guardarian receives fiat money from the user, the funds are converted into crypto and sent to NOWPayments. Our fiat provider picks a coin based on the first wallet address in your Payout Wallet list (see Settings — Payment Settings).
- NOWPayments receives crypto from Guardarian and sends it to your account’s Custody (if it has been activated previously) or your crypto wallet (the first one in the Payout Wallet list).
How to charge in fiat but get DGB via invoices
- In your Personal Account, head on to Settings — Coins Settings and enable fiat currencies that you would like to accept.
- Create a new payment: go to Payment Tools — Payment link, and click the “Create payment link” button. You will see the list of the chosen fiat currencies in the “Pay currency” field.
- Now, you can pick one of the currencies, and the user will be redirected to Guardarian right after they open your invoice. Or, you can choose “All currencies”, and the user will be able to choose how they want to pay. If they select a fiat currency, they will be redirected to our fiat provider.
- The user completes a KYC check and makes a payment.
- Once Guardarian receives fiat money from the user, the funds are converted into crypto and sent to NOWPayments. The service picks a coin whose wallet address is the first in your Payout Wallet list (see Settings — Payment Settings).
- NOWPayments receives crypto from Guardarian and sends it to your Personal Account’s Custody (if it was activated previously) or your crypto wallet (the first one in the Payout Wallet list).
- You can share this payment link multiple times.
The on-ramp solution powered by NOWPayments is an effective way to charge clients in fiat but receive DGB.
Continue Reading about DigiByte Use Cases
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