The Main Security Challenges Standing In The Way Of Crypto Payment Gateways
Categories: Crypto News US
We talked to the developers of ALFAcoins, one of the most popular crypto processing services working with thousands of merchants around the world and helping to integrate payments into Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dash and XRP. They told us what risks crypto-processing services face and how to make crypto payments safe and reliable. - Vulnerable software. The basis of a cryptoprocessing service is its software. The processing service serves as an interface between the seller's website and the buyer's crypto wallet, which allows transactions to be processed in various coins. Even the slightest flaw can lead to a vulnerability that cybercriminals won’t fail to take advantage of. Therefore, when choosing a cryptoprocessing service, merchants need to make sure that the installed software has passed an independent audit from a third-party cybersecurity company. A crack in the merchant's account. An attacker can contact a merchant connected to a processing service and impersonate customer support. As noted by the crypto processing service ALFAcoins, sometimes scammers specifically distribute a fake phone number for technical support to social networks and forums, posing as an employee of this company. Overly trusting users call the specified phone number and are persuaded to hand over access to their account. Two-factor authentication will help protect the merchant's account from theft, even if the login and password are compromised. Introduction of malware into the processing solution’s software. Indeed, there have already been such cases; in 2018, the Copay crypto wallet, developed by the BitPay processing service, was compromised by a hacker who uploaded a malicious script to steal users' private keys and place them in a third-party JavaScript library used by the application. Protection against this type of fraud should be handled by the companies themselves, by the developers of processing solutions, because their reputation and customer trust are at stake. ALFAcoins is a modern, secure, and multifunctional payment system for cryptocurrencies. Available since 2013, now it’s launching a new version with an upgraded payment system and a personal wallet. Through its use, merchants worldwide can accept and send cryptocurrency payments in an easier, faster, and cheaper way.The advantages of accepting cryptocurrency payments are obvious. Everyone can exchange them in no time from one point on the planet to another. Forget about high fees, technical issues and fiat restrictions in most of the world. Additionally, over 100 million crypto-users are looking for places where they can spend their coins.With the new ALFAcoins, issues like volatility, security, and difficulty disappear from this process, leaving behind just the benefits. The platform calculates convenient and real-time rates for all the involved parties and offers useful statistics for merchants. It also provides different ways for payment integration on websites and the best security with cold storage and 2FA.