A cryptocurrency is generally understood to be a type of virtual currency. It is usually based on cryptography, which is where the name itself comes from. An important characteristic of cryptocurrencies is their independence: they are decentralized, i.e. they are not controlled by a central bank or a government, but have usually been developed and distributed by an IT company.

Cryptocurrencies are based on blockchain technology. This is a decentralized directory in which all transactions made using this currency are recorded. Several transactions together form a block, which in turn are linked together to form a chain. Hence the name. In this way, transactions are verified via a global network of computers.

Crypto tokens can be purchased on so-called crypto exchanges. These are now often accessible via the internet or an app, where you can buy tokens simply by transferring money.

In any case, it is advisable to familiarize yourself in advance with the crypto exchange in which you want to invest your money. There are a large number of crypto exchanges, not all of which are equally reputable.

Cryptocurrencies sometimes have a bad reputation, as they are often not based on any bank currency and their value therefore fluctuates greatly. In addition, depending on the technology, cryptocurrencies can also be misused for money laundering, fraud, cybercrime or to finance malicious activities.

In recent years, however, cryptocurrencies have developed into a thoroughly reputable payment method that offers many advantages for merchants and buyers. However, the actual reliability always depends on the respective cryptocurrency itself, which is why it is very important that you familiarize yourself with the respective provider before buying crypto tokens.

Cryptocurrencies offer the following advantages compared to other currencies:

• Security: Thanks to state-of-the-art technology and security standards, cryptocurrencies are generally considered to be very secure, especially as users do not usually have to provide any sensitive data to buy crypto tokens.

• Decentralization: Cryptocurrencies are usually not controlled by a central bank or government, but have been developed by companies or start-ups. These often act more socially and offer their technology to other companies, for example.

• Transparency: All transactions carried out using cryptocurrencies are stored in the blockchain and are generally publicly accessible, which ensures the greatest possible transparency.

• Low fees: Transactions made using cryptocurrency are usually cheaper than those using conventional currencies, as there are no banks or middlemen involved and the fees are therefore significantly lower.

In addition to the numerous advantages that cryptocurrencies bring, digital currencies also involve some risks. It is therefore very important that you familiarize yourself with the respective provider in advance. The following points should be noted:

• Volatility: As cryptocurrencies are not issued by a government or a central bank, but are usually developed by a start-up or an IT company, their value can fluctuate greatly. They can also be used for speculation or otherwise misused, which further impairs their stability.

• No regulation: Cryptocurrencies are still relatively new, unknown and at the same time on the rise. This means that digital currencies are not regulated in many countries, which is why there is a lack of legal protection.

• Hacking: Like any digital technology, cryptocurrencies can also be influenced or stolen by hackers. However, most providers protect themselves against such attacks with their own state-of-the-art security standards.

The integration of payment providers with cryptocurrencies for online stores using Payrexx is quick and uncomplicated, without lengthy registration processes. In addition, our free open source Payrexx plugins are available to make integration easier.

This allows you to smoothly integrate cryptocurrency providers for your online store project.

Further information on the implementation of cryptocurrencies in the best-known e-commerce systems:

View overview

• Cryptocurrencies via Payrexx and WooCommerce integration

• Cryptocurrencies via Payrexx and Shopware integration

• Cryptocurrencies via Payrexx and Shopify integration

• Cryptocurrencies via Payrexx and Prestashop integration

• Cryptocurrencies via Payrexx and MyCommerce integration

• Cryptocurrencies via Payrexx and Magento integration

• Cryptocurrencies via Payrexx and Gambio integration

Also with our customized system: Payrexx Merchant API

With the help of Payrexx, you can integrate payment providers for cryptocurrencies into your online store quickly and easily - without lengthy and time-consuming registration processes. In addition, our free open-source Payrexx plugins are available to make integration easier.

This allows you to smoothly integrate cryptocurrency providers for your online store project.

Further information on the implementation of cryptocurrencies in the best-known e-commerce systems:

View overview

• Cryptocurrencies via Payrexx and WooCommerce integration

• Cryptocurrencies via Payrexx and Shopware integration

• Cryptocurrencies via Payrexx and Shopify integration

• Cryptocurrencies via Payrexx and Prestashop integration

• Cryptocurrencies via Payrexx and MyCommerce integration

• Cryptocurrencies via Payrexx and Magento integration

• Cryptocurrencies via Payrexx and Gambio integration

Also with our customized system: Payrexx Merchant API

If you integrate payment providers for cryptocurrencies with Payrexx in your webshop, we guarantee you the greatest possible security for every transaction. Payrexx enables the following security precautions when integrating cryptocurrencies:

• Personal data, both yours and that of your customers, is stored on secure Swiss servers in compliance with the GDPR.

• Payrexx is fully PCI DSS Level 1 certified, the highest global security standard for payment data, developed in cooperation with several credit card organizations.

• To ensure secure data transmission, Payrexx uses encryption protocols such as SSL (Secure Socket Layer) with 256-bit encryption, the highest security standard.

• The 3-D Secure process strengthens online payments with additional identification, minimizes fraud risks and chargebacks, and ensures maximum security and customer authentication.

Within just 5 minutes, you can accept your first online payments securely and easily with Payrexx and cryptocurrencies for merchants.