CoinGate Expands Supported Blockchains for Cryptocurrency Payments

CoinGate, a leader in cryptocurrency payment solutions, is gearing up to expand its blockchain support.

With a recent survey showing strong favor for Shibarium, find out what this means for future payment integrations and why the crypto community is eagerly awaiting next week’s big announcement.

Introduction to CoinGate's Cryptocurrency Payment Service

Established in 2014, CoinGate is a cryptocurrency payment service company that allows businesses to easily accept over 70 types of cryptocurrency payments.

In addition to facilitating cryptocurrency transactions via bank transfers and credit cards, CoinGate has been a vital player in the industry, offering innovative solutions tailored for enterprise needs.

On May 9, 2024, CoinGate hinted at expanding the blockchains supported for cryptocurrency payments. This was revealed in a post on platform X, accompanied by a survey asking users about which blockchain they would like to see supported next.

This announcement also indicated that significant news is expected next week regarding the expansion.

Shiba Inu's Layer 2 'Shibarium' Leads the Survey

As of the writing of this article, four options were presented in the survey. The Shiba Inu-associated Layer 2 blockchain 'Shibarium' has garnered a dominant 78% support rate. The voting percentages for the blockchains as of May 10, 2024, are as follows:

Among other mentioned blockchains were XDCNetwork, TON, Polkadot, and Saitachain.

Anticipating High-Speed & Low-Cost Blockchain Integration

All the blockchains mentioned are known for enabling high-speed and low-cost transactions. Shibarium, in particular, allows transactions to be executed with fees as low as $0.00032.

While it remains unclear which blockchain will be added, the integration of any of the mentioned chains is expected to provide a more comfortable environment for cryptocurrency payments.

>> Click here for the latest news on virtual currency payments.