Blockonomics is a leading payment processing platform that gives way to freelancers and businesses to receive payment in bitcoins. It lets you bill clients in fiat currencies but you need to pay in the corresponding bitcoin value after factoring in the current cryptocurrency market prices.
Blockonomics comes to the rescue by fetching dynamic current bitcoin prices via Bitcoinaverage. Customers then pay the displayed bitcoin value directly to your address or wallet.
Built with a superior P2P engine, Blockonomics lets you look up your bitcoin address or wallet. You can then create a P2P invoice to bill your customer and have them pay you in the current bitcoin value directly to your wallet.
Pros and Cons of Blockonomics
- No KYC/documentation required, just as Bitcoin was designed to work.
- Over 22 currencies supported.
- Current Market price support via Bitcoinaverage.
- A flat fee of 1% on each transaction.
- It is 66% cheaper than Paypal.
- Payment button and Plug-in support for webshops.
- 24/7 wallet tracker.
- Peer to peer support for enhanced security.
- Real-time email notifications on each transaction.
- Requires prior knowledge of Bitcoins and Bitcoin wallets.
Ratings by Users
Blockonomics stands out from its peers. The biggest issue merchants have with most payment processing platforms is that they are server-based; hence, they require log in details of each user. They also save users’ details, such as the private keys, which makes your funds vulnerable to attacks. Blockonomics is built on a P2P connection, making it safe and secure as it does not save your private keys.
Users also prefer Blockonomics to other payment processing platforms due to its permission-less, peer to peer structure. Therefore, you simply access the Blockonomics website and get your funds sent directly to your wallet.
Additionally, many users appreciate its efficiency due to support for payment buttons and plug-ins, which allow direct payment to your wallet. The flat fee of 1% on each transaction also appeals to both big and small businesses as it is lower than what other payment processing platforms such as PayPacharge.
How to get paid through Blockonomics
Receiving your pay in Bitcoins through Blockonomics is as easy as ABC. Whether you run small retail or a Fortune 500 company, the process is the same.
- Visit the official Blockonomics website and on the instant search button, key in the bitcoin address through which you wish to receive your payment. Blockonomics will pull up your bitcoin address details, such as your balance.
- Once loaded, click on create P2P invoice. Blockonomics will create a peer to peer connection that you can use to directly bill your customer in their fiat currency, translated into bitcoins.
- Key in the invoice details in the fields provided. You have the option of attaching a receipt if you wish to. Select the currency you wish to be converted to bitcoins and then enter the payment amount.
- Click ‘create invoice,’ and a unique invoice link will be generated immediately. You can share this directly with the payer via email, text, or any other channel you wish. For online businesses, this invoice can be linked to an online shopping platform through Blockonomics plugins or payment buttons for direct payment.
- The status of the invoice payment gets updated in real-time. You can monitor the invoice and view which transaction paid the invoice and what time the transaction was made. It is as simple as that!
Supported features of Blockonomics
- Merchant Gateway
Regardless of the location of the customer making a purchase, Blockonomics allows you to accept payment on your webshop in Bitcoins.
- Peer to peer support
Blockonomics sets itself apart from other payment processors through peer to peer invoicing. A peer to peer platform eliminates the need for a server, which requires the need to keep private keys, email I.D., invoice details, and other personal information. What you get is a secure, permission-less, Bitcoin payment solution.
- Blockonomics plug-ins
Merchants can set up a payment button for Blockonomics on their online shopping website or set up Blockonomics plug-ins for receiving payment. It works more or so the same as accepting PayPal or credit card payment from customers.
- Wallet watcher
Blockonomics offers a wallet watcher that monitors all activities in your wallet. You receive email notifications on the credits and debits made from different invoices linked to your wallet. The wallet watcher dashboard shows the balances of each transaction in Bitcoin alongside the fiat currency used by the person making the payment. The wallet watcher also supports HD wallet monitoring with an extended public key, which follows BIP 32 guidelines.
- Transaction history
The dashboard projects a summarized history of all transactions connected to your wallet, alongside simple graphs for an easy birds-view. Any pending transactions ongoing on your address are also displayed.
The following features of Blockonomics are exceptional:
- Provision of a secure, peer to peer payment processing platform where they can get paid in bitcoins.
- Supporting over 22 currencies, Blockonomics lets you bill an invoice in fiat currency but receives payment in the current market value of bitcoins.
- The table shows it’s most important qualities as rated by users.
|Interface||Fees||Trading Pairs||Customer Support||Reputation||Trading Limit||Payment Modes|
|Simple to use||Flat rate of 1% on each transaction||Fiat and Cryptocurrency||Active support. Click here to view.||High. Click here to view.||High||Multiple options.|
As with all crypto online transactions, do your own due diligence. Already a party to the platform? Share with us your thoughts on Blockonomics in the comments section. Let others know about your experience!