Frequently
asked questions
Your questions, answered.
Contact us if you don’t find your answers here.
Cryptocurrency payments
No, there is no minimum.
It depends, check it out in this post: (Link to our blog) – NEED TO BE DEFINITIVE
Crypto consumers are one of the fastest growing segments in the world with over 300 million wallets issued to date. Studies show that crypto consumers spend 2x AOV of a typical credit card consumer and that 40% are in fact new customers. Crypto is more efficient than traditional payment methods as there are less parties involved in a payment process.
ForumPay charges a single all-inclusive transaction fee. There are no hidden charges.
We currently support Bitcoin, Bitcoin Cash, Litecoin, Ether, DASH, XRP and USDT. As we own and operate our own exchange we can easily add additional crypto currencies to meet customer demand.
We initiate settlement at the end of every business day, subject to a minimum settlement amount and at the end of every week as an absolute minimum. (See link for jurisdictions and minimums).
Yes, ForumPay can provide cryptocurrency payment processing services to adult, gaming, CBD and other industries that are typically considered high-risk by traditional payment processors.
No, all of the transactions on the blockchain are final and there are no chargebacks.
ForumPay provides instant confirmations for crypto transactions, which act as a payment guarantee for the merchant.
ForumPay is crypto wallet agnostic, all wallets are supported.
Yes, we can offer this service, but you will be exposed to the potential volatility risk if the currency value changes.
No, ForumPay instantly converts crypto to fiat at the moment the transaction takes place.
Yes, ForumPay guarantees funds for all the confirmed transactions.
Yes, the ForumPay solution is fully automated from end to end and all of the funds are converted into fiat and settled to your bank account automatically. No manual intervention is required.
Yes, sign up and become a partner on this website – link.
Tokens
A crypto token is a virtual currency token or a denomination of a cryptocurrency. It represents a tradable asset or utility that resides on its own blockchain and allows the holder to use it for investment or economic purposes.
- Payment tokens
- Utility tokens
- Security tokens
- Non-fungible tokens
- Platform Tokens
Tokens can be used for investment purposes, to store value, or to make purchases.
ATM
As you might’ve guessed, a cryptocurrency ATM is a machine that functions much like a regular ATM. You can go to one and exchange your crypto for fiat currency (cash), or vice versa. However, you don’t actually connect to a financial institution, as crypto networks are decentralized. Essentially, you can buy and sell cryptos, meaning you won’t have to be at home behind a computer screen to do so.
One of the best benefits of crypto ATMs is the transactions are super-fast. When you use a cryptocurrency exchange on your computer, the verification processes and transactions can be very slow. Another benefit is that you can get cash in hand instantly. Whereas when you use exchanges on your computer, that money only exists in digital form. Also, some cryptocurrency ATMs don’t ask users to verify their identities. If you’re looking to keep your transactions anonymous, this can be a better choice than using crypto exchanges.
Bitcoin ATMs are one of the safest ways to buy, send or sell Bitcoin. First, instant transactions protect you from Bitcoin’s volatility. Secondly, passwords and 2-factor authentication protect your account from others.
Gaming
Gaming coins combine two extremely popular industries: crypto and video games. Many are online games that use a cryptocurrency as the in-game currency. Players can use the game’s crypto for purchasing characters and weapons. These games also often use a play-to-earn model, where players can earn crypto as they complete tasks.
In traditional gaming and development, all the digital assets such as XP, in-game currency, weapons, skins, characters, cars, etc. are owned by the developers. Whereas in a crypto game, the user owns the items that are acquired during progress in a game. Since such games are developed on blockchain networks, all the connected computers have access to the same amount of information (all of it), decentralizing the control over information, giving equal powers and controls to the players and creators.
Crypto gaming is a decentralized form of gaming where players can own unique in-game assets and sell them for FIAT to anyone who is interested. In other words, digital assets can be traded for cryptocurrency, which can then be exchanged for FIAT.
Real Estate
It is more convenient to pay directly from the wallet of your choice in crypto, rather than sending your crypto to an exchange, selling it and moving the funds to your bank account.
Crypto Payment Onsite
Settlements that meet the minimum required balance are made next day.
No, ForumPay can easily be integrated into any existing payment system.
Since ForumPay instantly converts crypto to fiat and settles it to you, we recommend refunds are handled as cash.
Cryto Payment Online
Yes, we have APIs for all of products.
Yes, any merchant of ForumPay can integrate with our APIs.
Yes, our API will allow you to completely white label our payment processing solution.
Commissions/Fees vary based on market, geo and volumes.
Yes, you can add a surcharge to your transactions to pass fees on to the buyer.
