Pros and Cons of X1 payment gateway
Here we share our honest opinion of the most important aspects of the X1 payment gateway so you can make the best decision.
Pros
Here are the most significant advantages of X1:
Conversion rate optimization
As your clients are buying crypto compared to other high-risk industry services, it significantly reduces the number of failed transactions as Visa and Mastercard deem the acquisition of cryptocurrencies as a regular activity. A transaction related to buying crypto is much more likely to get approved by Visa compared to a deposit on a Gambling site, right?
Fast transactions
Patience is not a virtue that everyone possesses, especially in a competitive market. The ability to complete a transaction within a few clicks never looked easier.
Your branding and design
The option to integrate your own brand and logo into the Widget creates a sense of trust. It creates an impression in your customers that they are using a seamless and straightforward feature of your website.
Customers not leaving your site to complete the payment
No matter the field your business operates in, keeping your customers on your platform is of utmost significance. Using X1, never asks your users to leave your website, a key benefit to prolonging the visit.
Cons
In our opinion, these are the most important drawbacks of X1:
Price
This solution is pricey compared to other players on the market and can be hefty on your budget if you don’t have the designated funds to support it.
Not the fastest integration
The integration time of 2 to 3 weeks is quite extensive compared to other solutions on the market. If you are looking for something quite urgently and must be fully operational on shorter notice, it may not be the best fit.
However, for both things mentioned above, there is a reason – after all, every merchant receives a dedicated crypto exchange platform, with which you increase conversion rate and mitigate the risk for your business.
Personal touch
As Bitblaz aims at providing the best possible service tailored to your needs, they prefer to arrange individual meetings to properly understand the challenges their potential new partners face. We at Coinlabz had a talk with their team and their accumulated expertise and knowledge will make you feel in safe hands. In addition to the established portfolio of solutions and developers, they can also offer guidance to perceive new angles and propel your business to new heights.
Customer support
The customer service experience is on another level, as you have 24/7 support for urgent matters. You are able to reach them with your questions or concerns directly over the phone, on Skype, or through email. For non-urgent matters, they have working hours between 9:00 am and 6:00 pm EET, as they tend to respond to your request within the day. Another aspect that allows them to take a pole position on the customer satisfaction front is that the responding team consists of the Product Manager, the Tech dev team, and the admins. The very best support and guidance professionals are at your disposal compared to others, where you can reach only the average customer service agent with FAQ knowledge and no real decision-making power.
Whoever has faced issues with their payment systems for a high-revenue business knows that every hour when your systems are down may cost thousands of dollars.
You will also have access to their FAQ guide on the business itself, covering important points on the platform, from account activation and login history, to how to deposit or withdraw in crypto or fiat. Of course, important tips like which are supported cryptocurrencies and what the fees and the limits are available for you anytime.
Other products by Bitlabz
Bitlabz has an assortment of products in its portfolio that range from crypto exchange software and crypto custodian wallets to mobile apps and OTC services. If you require a solution for crypto payouts, they got you covered too. Compared to the X1, it has a different flow but is still quite user-friendly in contrast to competitors on the market. Their recent innovation, NFT PAY, allows a merchant to have their own NFT exchange platform, while their users have the option to purchase back their NFT for a certain time with an expiry period.
If you think about it, a company that develops cryptocurrency exchange should know how to handle payments properly, right?
Should you use X1 Crypto payment gateway for your business?
Yes, we at Coinlabz can definitely recommend using X1 crypto payment gateway, especially if you work in a high-risk industry with high revenue. The way that X1 operates, by using a crypto exchange dedicated only for you as a middleman to complete the transactions, is really fascinating. Another great benefit is the fact the customer never has to leave your site to finalize the transaction.
However our only concern is the price of a minimum of 2000 Euros per month, but considering what you receive, we believe it is worth it. Another potential drawback of this payment gateway is that it is clearly designed for bigger business and we don`t find it suitable for smaller companies.
Final thoughts
In conclusion, the X1 Crypto Payment Gateway proves to be a powerful and reliable solution for businesses seeking to expand their payment options and capitalize on the ever-growing cryptocurrency market. With its impressive features like conversion rate optimization, fast transactions, risk mitigation, and seamless on-site payments, X1 offers a competitive edge to merchants. Though it may have minor drawbacks such as slow integration and higher costs, the overall benefits far surpass these limitations. As the world of digital currencies continues to evolve, adopting a versatile and secure payment gateway like X1 is a prudent decision for businesses aiming to stay ahead of the curve. Check out the full review at CoinLabz to learn more and make an informed choice for your business.