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PrestaShop and Coingate Collaborates in Adopting Cryptocurrency for Eshops

Karolis
March 28, 2018
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More than 80.000 online shops in Europe will offer payment in cryptocurrency soon

PrestaShop and CoinGate announced a working plan that will integrate CoinGate into the PrestaShop payment infrastructure named PrestaTrust. Merchants using PrestaShop will be allowed to accept cryptocurrencies as a payment method in many Prestagate’s stores located throughout Europe.

Numbers are huge

In France located company PrestaShop is the open source e-commerce platform released in 2009 and provides payment solutions to nearly 200 countries which leads to over 250 thousands online stores and available in more than 60 languages. Being open source platform PrestaShop allows to contribute for anyone in their project. Further more,  team had one main issues to solve – lack of traceability. To fix this, blockchain technology was used, in this case – Ethereum smart contract.


Why CoinGate?

CoinGate is a cryptocurrency exchange based in Lithuania, Europe which has an amazing pricing for cryptocurrency exchange, you can see this detailed comparison of 7 Bitcoin Payment Processors and their bitcoin conversion rate on Reddit. It currently supports Bitcoin and over 40 different altcoins including most known ones like Ethereum, Litecoin and Ripple. It provides wide exchange rates for whole crypto alternatives listed into forty different fiat currencies. CoinGate so far, has an estimated 50,000 users from around the world.

Green light for cryptocurrencies

With help of CoinGate, PrestaShop will allow their Europe-based users to accept any of CoinGate’s supported currencies as a payment method in their online stores.



Exchange rates will be locked at the time of purchase and merchants will be paid in Euros the next day. It will work as safety feature for merchants from cryptocurrency swings in price.
Adopters are promised with a module that can be integrated allowing them to accept over 40 different cryptocurrency payment, while being paid in Euros without having interaction with the cryptocurrency market.

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