CoinGateway, a new payment processing service, will open up a wide range of new options for altcoin holders.
Those who use Litecoin, Dogecoin, or Cloakcoin can use CoinGateway’s service to pay using these coins wherever Bitcoin is accepted.
How Does CoinGateway Work?
There are several steps involved in using CoinGateway properly.
First, find the item you’d like to purchase. Then, locate its price in Bitcoin, and the address to which you need to send the Bitcoin.
From there, go to CoinGateway’s website. Choose which altcoin you’d like to pay in, enter the recipient’s Bitcoin address, and the amount you need to send in Bitcoin.
Then, send the amount quoted in your coin of choice to the address it generates. From there, CoinGateway will pay the merchant in Bitcoin.
Opening Up The Altcoin Market
Other similar services exist to CoinGateway, like Bongocoin. However, while Bongocoin specializes in translating funds from fiat to Bitcoin, CoinGateway serves a slightly different niche.
With these two services together, though, every single product sold online is now available for sale in Bitcoin, Litecoin, Dogecoin, and Cloakcoin.
Though these services naturally charge a small fee, they nonetheless make the dream of living solely off of cryptocurrency more realistic.