Merchant Competition Mapping
Product Competition Table
| Company | Centralize or Decentralize | Website |
|---|---|---|
UNIGATE | DECENTRALIZED | |
BitPay | CENTRALIZED | |
CoinPayments | CENTRALIZED | |
Plisio | CENTRALIZED | |
Request | CENTRALIZED | |
CoinRemitter | CENTRALIZED | |
NowPayments | CENTRALIZED | |
BTCPay | CENTRALIZED | |
Coingate | CENTRALIZED | |
CryptAPI | CENTRALIZED | |
crypto.com | CENTRALIZED |
What places Unigate miles ahead of competition today
All the services commonly used on other platforms for personal and merchant services - are centralized. UNIGATE provides these services on DeFi protocols (Decentralized Finance).
What is Centralized? What are the risks of transacting on centralized platforms?
Centralized means all the control, core systems and processors, wallets, user identity, are under the control of the proprietary software.
Consequences are:
User has no control on their own funds
Extensive signup formalities and delayed KYC approval
Requirement of trusting multiple third parties to perform different roles in a single transaction
Fee payments to these third parties makes the transaction processing expensive.
How does UNIGATE resolve this
UNIGATE brings the best of Merchant Services and Personal User services - under its platform which entirely runs on the DeFi protocols.
Benefits are:
No signup required. No KYC required.
Users have real control over their personal data, and funds in crypto wallets
The system is 'Trustless' - No requirement of trusting, involving of third parties and paying fees to them to process a transaction.
All transactions are processed independently through smart contracts where no central point of authority, not even UNIGATE, can modify or interfere in any user's transaction processing.
Being decentralized was the essential purpose behind the establishment of cryptocurrencies today, and UNIGATE, true to that spirit, keeps every functional element decentralized.
Tools Competition Table
| Buy, Swap, Pay, Liquidate | Multi Wallet Compatibility | Invoicing | Card | Mass Payout | API | eCommerce Plugins | |
|---|---|---|---|---|---|---|---|
UNIGATE | All | Yes | Yes | Yes | Yes | Yes | Yes |
BitPay | All | Yes | Yes | Yes | No | Yes | Yes |
CoinPayments | All except Liquidate | Only proprietor software's wallet | Yes | No | No | Yes | Yes |
Plisio | No | Only proprietor software's wallet | No | No | Yes, but 1000 txns max | Yes | Yes |
Request | No | - | Yes | No | No | No | No |
NowPayments | Liquidate. Swap in another product | - | Yes | No | Yes | Yes | Yes |
BTCPay | No | Yes | Yes | No | No | Yes | Yes |
CoinGate | All | Yes | Yes | No | No | Yes | Yes |
CryptAPI | No | No | No | Yes | No | Yes | Yes |
Crypto.com | All in another product | Yes | Yes | Yes | No | Yes | Yes |
Services with UNIGATE
Merchant: Invoicing, Mass Payouts, Plugins for eCommerce sits, Settlement (Liquidation) into Fiat
End User Services: P2P Payment, Stake, Swap, Yield Farming, Pool and other services being developed, under roadmap
Platform Strengths: DeFi, Multi-Bridge, Support 6 blockchains
| Company | Processing Fees Merchant |
|---|---|
UNIGATE | 1% |
BitPay | 1% + "Withdraw Fees + from 0.25% to 2% based on risk appetite" |
CoinPayments | Upto 1.5% + Withdraw Fees |
Plisio | From 0.5% merchant +0.5% withdraw + 1.5% extra service |
NowPayments | 0.4% + 0.5% withdraw fees |
Coingate | Processing 1% + withdraw 0.25% to 0.50% |
CryptAPI | 0.25% to 1% + withdraw fees |
Crypto.com | Trading 0.40% + Blockchain Transaction Fees. Mostly high transaction fees unless their coin is purchased |
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