High transaction fees are a growing concern for online businesses, and if you are still paying these costs, it may be time to consider a more affordable option. Coinremitter presents a solution that significantly reduces these fees and allows businesses to retain more of their profits.
Crypto payment: Understanding Transaction Fees in Crypto Gateways
Most cryptocurrency payment gateways impose two main types of fees: network fees and platform fees. While network fees are determined by the cryptocurrency network and are outside the control of any payment processor, platform fees can vary significantly between providers.
Typically, major crypto payment processors charge between 0.5% and 1% in platform fees, with some also adding withdrawal fees or tiered pricing based on transaction volume. This can lead to substantial costs for businesses processing large volumes of cryptocurrency transactions.
The Cost of Choosing the Wrong Payment Gateway
For a business transacting $200,000 per month, even a modest 0.5% difference in platform fees can result in $1,000 wasted on unnecessary charges. As such, selecting the right payment processor is crucial to maintaining a healthy bottom line.
Coinremitter’s Transparent Fee Structure
Coinremitter stands out in the industry by offering a clear and transparent fee structure. The platform only charges a processing fee of 0.23% per withdrawal, making it one of the most competitive options available.
Under this structure, businesses benefit from knowing exactly what they will pay, as there are no hidden fees or unpleasant surprises. Additionally, withdrawals are settled directly to your wallet within 30 minutes, ensuring quick access to your funds.
Comparative Costs: Coinremitter vs Other Payment Gateways
To illustrate the savings potential, consider a scenario with $50,000 in monthly withdrawals:
- Traditional Credit Card: 2.9% + $0.30 per transaction, resulting in costs over $1,480.
- Standard Crypto Gateway: 0.5% – 1%, costing between $250 and $500.
- Coinremitter: At a fixed rate of 0.23%, the cost totals just $115.
Over a year, switching to Coinremitter can save businesses between £1,380 and £4,620 compared to traditional payment methods.
Reducing Gas Fees with the Gas Station Feature
For cryptocurrency users, particularly those dealing with USDT and Ethereum, gas fees can be a significant burden. Coinremitter’s innovative Gas Station feature helps to mitigate these costs. The Gas Station reduces gas fees by maintaining a pre-funded balance of ETH, BNB, or TRX in a unique wallet.
This setup allows the system to automatically cover partial gas costs for incoming transactions, resulting in savings of up to 60% on gas fees. For example, standard gas fees for USDT withdrawals can drop from 5 USDT to 2 USDT when using this feature.
Estimating Total Savings with Coinremitter
Let’s consider a business with a monthly transaction volume of £100,000, consisting of 60% domestic and 40% international sales. Traditional credit card processing can lead to monthly costs exceeding £3,800, while standard crypto payment solutions may still incur costs around £1,150.
In contrast, using Coinremitter’s Free Plan could reduce monthly expenses to approximately £380, with annual costs dropping below £4,560. This represents savings of over £41,000 annually compared to traditional processing and about £9,132 versus standard crypto gateways.
Free vs Pro Plans: What’s the Difference?
For businesses handling high transaction volumes, the Free Plan of Coinremitter offers excellent value. However, the Pro Plan, at $99/month, provides additional features such as higher API limits, priority support, and access to more cryptocurrencies, including USDT-ERC20 and TRX.
The Pro Plan becomes advantageous when businesses need enhanced support for Ethereum-based transactions or require higher transaction limits.
The Future of Payment Processing
Payment processing fees do not have to be a fixed cost. By sticking with traditional processors, businesses risk incurring high rates and facing chargeback risks, settlement delays, and geographic restrictions.
Coinremitter offers a refreshing alternative with its 0.23% processing fee, rapid settlements, and innovative features like the Gas Station, which cuts gas costs. For those ready to stop overpaying, signing up for a Coinremitter account takes only three minutes and requires no KYC.
