Knowing your customer is useful, but not every business needs it. Companies that want to decide for themselves whether their customers need to undergo checks are looking for a crypto gateway without KYC. In this article, we will talk about the features of such crypto payment gateways without kyc using the example of the BitHide crypto wallet for business.
Cryptocurrency processing: important points for companies
To give your customers the option of paying for products or services with cryptocurrency, you need to get a tool to generate unique addresses for each client. Crypto payment gateways are such tools.
However, simply generating addresses for comfortable business work with cryptocurrency financial flows is not enough. Therefore, it is important to look for a gateway and a crypto wallet for companies equipped with a set of necessary functions. It should make automatic withdrawals and mass payments and offer tools for creating balance sheets and downloading them to a computer.
And if you still need to make your own decisions regarding the verification of your customers’ data, then you need to look for crypto wallets without KYC. We will tell you what one of these products, BitHide, offers.
Payment gateway and cryptocurrency processing using BitHide as an example
In addition to the uninterrupted generation of unique addresses for payments, a business needs a lot more from a crypto wallet. The main thing is the security of funds and ease of managing them. The BitHide team understands this well, so they constantly add new features to the product to the existing ones.
Reliability and security are ensured by:
- Dark Wing technology is a synthesis of VPN and Tor. It changes the real IP address of the wallet three times before it connects to the public node. Thanks to this, no one can find out the real address;
- Non-custodial. The user installs the product software on a server under his control. Thus, no one can interfere with the company’s financial management;
- Seed phrase. When logging into the product for the first time, the client receives a mnemonic phrase, the possession of which makes him the real owner of the cryptocurrency;
- 512-bit key. It is also generated at the time of the first login and is used to encrypt the wallet’s usage history, as well as for authentication;
- The ability to assign different roles to all employees connected to the work.
And to make it convenient to work with cryptocurrency in the wallet, the following functionality is implemented in it:
- Separation of profit centers by creating multiple sub-wallets;
- Adding comments and labels to different addresses and even transactions. This makes it easier to identify payments from different clients;
- Creation and downloading of turnover and balance reports. At the same time, you can record cryptocurrency rates upon receipt and the purpose of payments;
- Involvement of an unlimited number of managers;
- Mass payments. To simultaneously send assets to different recipients, just upload a file with amounts and addresses;
- Automatic withdrawals. You should not store significant amounts on a hot wallet; in BitHide you can set up automatic withdrawal to one or more addresses, which will be triggered as soon as the specified amount has accumulated on the wallet;
- Built-in address verification for the risk level of assets stored on them. You can check both internal wallet addresses and any external ones;
- API integration of the wallet with the company’s website or platform.
When looking for a crypto processing option without KYC, it is important to remember that the wallet must also meet high security standards and offer a wide range of tools for convenient management of financial flows in cryptocurrency.
