CoinPayments

CoinPayments, Inc.
Type of business	Private
Founded	August 2, 2013; 10 years ago.
Area served	Global
Founder(s)	Alex Aleksandrov
Products	Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Payment processor, Cryptocurrency wallet,
Website	www.coinpayments.net
Alexa rank	11,305 (Global, April 2018)
Users	2,274,000 (September, 2018)

CoinPayments[edit]

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]

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]

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]

For Merchants[edit]

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]

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]

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]

CoinPayments Official Website

References[edit]

^[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.

[bloomberg-1] "CoinPayments Inc. Site Overview". Bloomberg. Retrieved 27 April 2018.

[alexa-2] "CoinPayments Inc. Site Overview". Alexa Internet. Retrieved 26 April 2018.

[3] ttps://www.crunchbase.com/organization/coinpayments

[4] ttps://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=275313311

[5] ttps://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=275313311

[6] ttps://www.crunchbase.com/organization/coinpayments

[7] ttps://cointelegraph.com/news/bitpay-coinbase-or-others-can-anybody-replace-visa

[8] ttps://web.archive.org/web/20180427043833/http://coinpayments.net/

[9] ttps://www.coinpayments.net/statistics

[10] ttps://www.crunchbase.com/organization/coinpayments

[11] ttps://www.crunchbase.com/person/alex-alexandrov-2

[12] ttps://web.archive.org/web/20130901000000*/http://coinpayments.net/

[13] ttps://web.archive.org/web/20131210215340/https://coinpayments.net/index.php?cmd=directory

[14] ttps://web.archive.org/web/20131206191930/https://coinpayments.net/index.php?cmd=supported_coins

[15] ttps://web.archive.org/web/20131210215340/https://coinpayments.net/index.php?cmd=directory

[16] ttps://www.financemagnates.com/cryptocurrency/news/coinpayments-we-will-continue-operations-after-march-31-sale/

[17] ttps://www.econotimes.com/Bug-in-cryptocurrency-wallet-CoinPayments-system-affects-Ripple-account-holders-749809

[18] ttps://altcointoday.com/coinpayments-to-reimburse-affected-users-ripple-funds/

[19] ttps://www.newsbtc.com/2017/06/23/coinpayments-excess-xrp-withdrawals-no-accident-done-malicious-intent/

[20] ttps://www.newsbtc.com/2017/06/11/coinpayments-missing-xrp/

[21] ttps://altcointoday.com/coinpayments-to-reimburse-affected-users-ripple-funds/

[22] ttps://www.newsbtc.com/2017/06/23/coinpayments-excess-xrp-withdrawals-no-accident-done-malicious-intent/

[23] ttps://www.newsbtc.com/2017/06/11/coinpayments-missing-xrp/

[24] ttps://coinjournal.net/coinpayments-enables-trezor-connect-authentication-feature/

[25] ttps://web.archive.org/web/20180427210057/https://www.dashforcenews.com/coinpayments-net-pos-system-review/

[26] ttps://web.archive.org/web/20180427230606/https://www.coinpayments.net/merchant-tools

[27] ttps://web.archive.org/web/20180427210345/https://www.drupal.org/project/commerce_coinpayments

[28] ttps://web.archive.org/web/20180427210631/https://marketplace.magento.com/firebear-coinpayments.html

[29] ttps://web.archive.org/web/20180427215611/https://en-ca.wordpress.org/plugins/coinpayments-payment-gateway-for-woocommerce/

[30] ttps://web.archive.org/web/20180427214204/https://www.zen-cart.com/downloads.php?do=file&id=2176

[31] ttps://web.archive.org/web/20180427214347/https://help.shopify.com/manual/payments/alternative-payments/cryptocurrency

[32] ttps://web.archive.org/web/20180427231107/https://www.coinpayments.net/supported-coins

[33] ttps://web.archive.org/web/20180427231228/https://www.coinpayments.net/supported-coins-fiat

[34] ttps://bnktothefuture.com/pitches/2198/_coinpayments-the-largest-payment-processor-of-over-55-cryptocurrencies.html

[35] ttps://www.forbes.com/sites/forbestechcouncil/2018/02/02/seven-great-cryptocurrency-plugins-for-wordpress-in-2018/#1ae3f77b693d

[36] ttps://www.forbes.com/sites/yec/2018/07/09/should-your-business-accept-cryptocurrencies/#441402cec40b

[37] ttps://www.forbes.com/sites/elainepofeldt/2018/07/27/the-next-hot-market-freelancers/#6dd4130b40d9

[38] ttps://www.forbes.com/sites/samantharadocchia/2018/09/28/how-a-blockchain-payment-processor-can-improve-industry-transactions/#33e2262d550a

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