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CoinPayments

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CoinPayments, Inc.
Type of businessPrivate
FoundedAugust 2, 2013; 6 years ago (2013-08-02).[1]
Area servedGlobal
Founder(s)Alex Aleksandrov
ProductsBitcoin, Bitcoin Cash, Ethereum, Litecoin, Payment processor, Cryptocurrency wallet,
Websitewww.coinpayments.net
Alexa rankPositive decrease 11,305 (Global, April 2018)[2]
Users2,274,000 (September, 2018)

CoinPayments[edit | edit source]

CoinPayments, founded in 2013[3][4], is a global payment gateway for cryptocurrencies and digital assets[5][6]. It was the first multi-coin payment processor in the world and has made continuous advancements since launch 5 years ago[7]. As of April 27 2018, the company facilitates transactions in 435 currencies and has 938,000 vendors[8]across 223 geographic regions [9]and enables online merchants and users to buy and sell goods and services using a cloud wallet solution[10]. It is a privately held company run by its current CEO Alex Alexandrov. [11]

History[edit | edit source]

The platform, built by programmers with online handles MrData and pr0d1gy in 2013. The Coinpayments site went live on September 6, 2013 [12] and had 52 retailers by December 6, 2013[13] and 28 cryptocurrencies[14]. The earliest adopters would use this platform to buy and sell computer parts and mining hardware [15]. Early in the companies development it was almost forced to close its doors due to rapid changes to the US regulations regarding cryptocurrencies[16]. While the community focused on Bitcoin technologies, CoinPayments found an niche in the altcoin payment space and created the first known altcoin payment processor accepting Bitcoin and Litecoin before hosting a number of others cryptocurrencies.

Ripple Theft[edit | edit source]

CoinPayments experienced a software bug which allowed select users to withdraw Ripple tokens from their platform in excess of the amount held in their account[17][18][19][20]. The result was a loss on June 4-5th of over 21 million Ripple tokens valued at $6,300,000 USD at that time. CoinPayments was able to pay back the affected users and made a series of deposits to pay back the stolen funds.[21][22][23]

Products[edit | edit source]

For Merchants[edit | edit source]

CoinPayments developed its platform for providing merchants with fast, secure and reliable online services. Merchants can integrate through the host of API's and shopping cart plugins[24]. Brick-and-mortar operations may use the Point-Of-Sale terminal application[25]. Additional services include escrow services, ICO hosting, self directed portfolio generators, invoice builders, payroll features, community engagement campaigns, FIAT Settlement and charity tools [26]

CoinPayments has plugin integration with Drupal[27], Magento[28], Woocommerce[29], Zen Cart[30], Shopify[31] and other shopping-cart checkouts.

For Standard Users[edit | edit source]

CoinPayments provides standard cryptocurrency users with a completely free cryptocurrency wallet solution. There are options for auto withdrawal to cold storage wallets, vaulting services set to timers, real time settlements and price pegging to currencies worldwide. Users can also take advantage of fully integrated third party coin conversion [32] and FIAT settlements[33].

Funding[edit | edit source]

In 2015, CoinPayments did, however, raise $338,338 CAD to fund development initiatives and expand operations. This was achieved with the help of Bank to the Future, a global crowdfunding platform[34].

External Links[edit | edit source]

CoinPayments Official Website

References[edit | edit source]

  1. "CoinPayments Inc. Site Overview". Bloomberg. Retrieved 27 April 2018.
  2. "CoinPayments Inc. Site Overview". Alexa Internet. Retrieved 26 April 2018.
  3. https://www.crunchbase.com/organization/coinpayments
  4. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=275313311
  5. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=275313311
  6. https://www.crunchbase.com/organization/coinpayments
  7. https://cointelegraph.com/news/bitpay-coinbase-or-others-can-anybody-replace-visa
  8. https://web.archive.org/web/20180427043833/http://coinpayments.net/
  9. https://www.coinpayments.net/statistics
  10. https://www.crunchbase.com/organization/coinpayments
  11. https://www.crunchbase.com/person/alex-alexandrov-2
  12. https://web.archive.org/web/20130901000000*/http://coinpayments.net/
  13. https://web.archive.org/web/20131210215340/https://coinpayments.net/index.php?cmd=directory
  14. https://web.archive.org/web/20131206191930/https://coinpayments.net/index.php?cmd=supported_coins
  15. https://web.archive.org/web/20131210215340/https://coinpayments.net/index.php?cmd=directory
  16. https://www.financemagnates.com/cryptocurrency/news/coinpayments-we-will-continue-operations-after-march-31-sale/
  17. https://www.econotimes.com/Bug-in-cryptocurrency-wallet-CoinPayments-system-affects-Ripple-account-holders-749809
  18. https://altcointoday.com/coinpayments-to-reimburse-affected-users-ripple-funds/
  19. https://www.newsbtc.com/2017/06/23/coinpayments-excess-xrp-withdrawals-no-accident-done-malicious-intent/
  20. https://www.newsbtc.com/2017/06/11/coinpayments-missing-xrp/
  21. https://altcointoday.com/coinpayments-to-reimburse-affected-users-ripple-funds/
  22. https://www.newsbtc.com/2017/06/23/coinpayments-excess-xrp-withdrawals-no-accident-done-malicious-intent/
  23. https://www.newsbtc.com/2017/06/11/coinpayments-missing-xrp/
  24. https://coinjournal.net/coinpayments-enables-trezor-connect-authentication-feature/
  25. https://web.archive.org/web/20180427210057/https://www.dashforcenews.com/coinpayments-net-pos-system-review/
  26. https://web.archive.org/web/20180427230606/https://www.coinpayments.net/merchant-tools
  27. https://web.archive.org/web/20180427210345/https://www.drupal.org/project/commerce_coinpayments
  28. https://web.archive.org/web/20180427210631/https://marketplace.magento.com/firebear-coinpayments.html
  29. https://web.archive.org/web/20180427215611/https://en-ca.wordpress.org/plugins/coinpayments-payment-gateway-for-woocommerce/
  30. https://web.archive.org/web/20180427214204/https://www.zen-cart.com/downloads.php?do=file&id=2176
  31. https://web.archive.org/web/20180427214347/https://help.shopify.com/manual/payments/alternative-payments/cryptocurrency
  32. https://web.archive.org/web/20180427231107/https://www.coinpayments.net/supported-coins
  33. https://web.archive.org/web/20180427231228/https://www.coinpayments.net/supported-coins-fiat
  34. https://bnktothefuture.com/pitches/2198/_coinpayments-the-largest-payment-processor-of-over-55-cryptocurrencies.html

[1] [2] [3] [4]


This article "CoinPayments" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:CoinPayments. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.



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