Cryptocurrencies are known for their volatile nature, having wild price fluctuations in short spans of time. In the past few years, crypto payments have grown in popularity, and more and more services have started accepting crypto coins on their platforms. But many are wary of accepting digital assets because of these fluctuations. Sendbit.io is a company that aims to solve this problem by offering a Lightning network Blockchain Wallet to Standard and USD Business users that protect them from crypto market fluctuations.What Is Sendbit.io?Sendbit.io is a crypto banking solution and project that was initially conceived in 2014, but it was just launched in early 2020. Sendbit and its services do not use any 3rd party source code, using only its proprietary code to ensure that there are no
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Cryptocurrencies are known for their volatile nature, having wild price fluctuations in short spans of time. In the past few years, crypto payments have grown in popularity, and more and more services have started accepting crypto coins on their platforms. But many are wary of accepting digital assets because of these fluctuations. Sendbit.io is a company that aims to solve this problem by offering a Lightning network Blockchain Wallet to Standard and USD Business users that protect them from crypto market fluctuations.
What Is Sendbit.io?
Sendbit.io is a crypto banking solution and project that was initially conceived in 2014, but it was just launched in early 2020. Sendbit and its services do not use any 3rd party source code, using only its proprietary code to ensure that there are no security vulnerabilities and inefficiencies in their system. Sendbit is a completely independent company, with a team that consists of 20 staff members globally and is constantly expanding.
The site offers a simple and free solution for business owners of integrating Bitcoin payments on their websites. This service can be used for business and personal use as well. The platform allows you to send or receive payments in crypto or fiat securely from anyone in the world.
Sendbit is headquartered in the UK at the 4th Floor Colmore Gate 2-6 Colmore Row Birmingham B3 2QD.
Licensing
Unlike many crypto businesses that operate without a license, Sendbit UK Ltd is regulated under the Estonian jurisdiction which is in the process of crypto license that allows the company to legally deal with crypto storage and crypto-to-fiat and fiat-to-crypto transactions.
The Services Provided by Sendbit.io
Business Crypto USD Banking for Merchants
Business account wallets were designed to protect them from market fluctuations. From these Lightning Network-powered wallets, users can quickly receive Bitcoin payments, which are then instantly converted into USD. By avoiding long confirmation times for transactions, Sendbit thus protects its users from experiencing losses because of crypto market fluctuations. The fiat currency is stored in their business account with a static value.
Business Dashboard For Static USD Merchants
Standard Dashboard Non-USD
Upcoming Crypto and Fiat Exchange
Sendbit.io offers secure exchange services that allow customers to perform crypto-to-crypto conversions and to use fiat currencies to buy or sell a variety of coins. You can consider the platform a more convenient Coinbase Blockchain alternative due to its low fees and fast confirmation times.
The list of supported coins on the platform includes Bitcoin, Bitcoin Cash, Litecoin, and Dash.
Prepaid Cards
Sendbit also offers its clients the option of having a prepaid card, which allows them to convert crypto to USD in an instant.
E-wallet and Crypto Wallet
Sendbit features E-wallets for its customers, in which they can store their crypto and fiat currencies.
There are two types of blockchain wallets. The first one is the non-Custodial Wallet for standard users, and the other is the Business USD for merchants.
Security
Sendbit puts great emphasis on security, and thus keeps all sensitive user data on servers that are not connected to the internet in order to prevent any attacks. Wallets are non-custodial, meaning only the user has access to his funds and private keys. The keys and wallet data are stored and encrypted using a powerful AES-256 algorithm. To further protect accounts, 2-factor authentication is enabled.
Traceability
To prevent anyone from tracking their users’ previous transactions on the blockchain, the company has implemented a system that generates a new address every time they will receive payments.
Low Fees
With no hidden fees, users only have to pay a flat fee of 1%, which is the network fee of that particular crypto. Users also have the option to set their own miner’s fee and avoid paying high miner fees while using Sendbit. You will never have to pay exorbitant network fees again with Sendbit.
Merchant Tools
Sendbit.io has developed a variety of tools that can be used by online merchants on their platforms, including Shopping Cart Buttons, Shopping Cart Plugins, and standard buttons.
The following Shopping Cart Plugins will soon be available on the platform: WooCommerce, WordPress, Drupal, Magento, Opencart, Prestashop, OSCOMMERCE, Shopify, WHMCS, Ubercart, Xcart, and Zencart.
Other features that can be used for free include:
- API & IPNs;
- Invoice Builder;
- Point of Sale (POS) Interface;
- Donation Buttons.
Sendbit.io is a crypto banking solution for both merchants and regular users who are looking for a convenient way of sending, receiving, and exchanging cryptocurrencies either for other cryptos or fiat.
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