Online merchants have been eager to accept cryptocurrencies as payment for several years now, and CoinPayments has been the de facto leader in online cryptocurrency payment gateways since its inception in 2014. The CoinPayments framework has made it easier for merchants to accept cryptocurrency payments for their goods and services, but merchants still need to run their own expensive web store, cart, and checkout software. Transaction settlements were still as slow as the blockchain confirmation times, and merchants still had to manage their own stores or pay a 3rd party to manage upgrades and security patches.
It was easier to use Bitcoin in online commerce, but it was still not completely seamless, and point-of-sale was still untapped. In 2018, the CoinPayments framework is filling that gap with the introduction of the CPS Marketplace and its integrated token, CPS Coin.
CPS Coin is a new utility token for the CoinPayments framework, and it is used to facilitate instant transactions within the CoinPayments system. Because CPS Coin is integral to the CoinPayments system, our merchants and users benefit from discounted conversions between CPS Coin and Bitcoin, Litecoin, or any of the other 125+ supported CoinPayments cryptocurrencies.
CPS Coin is built on the Syscoin platform, home to the decentralized marketplace blockchain, and featuring the innovative Syscoin Z-DAG “zero confirmation” transaction settlement technology. Payments using CPS Coin are settled while the transaction is still in the mempool, which means that, for the first time, physical point-of-sale merchants can receive payments in a cryptocurrency instantaneously, without waiting for even a single confirmation block.
On July 1, 2018 a snapshot of all Syscoin wallet addresses linked to Syscoin aliases will be taken. 6% of the total CPS Coin supply will be distributed to each of these addresses, proportionate to the balance of Syscoin held at the time of the snapshot.
All new and existing CoinPayments accounts will be gifted 100 CPS coins until July 1st, 2018 (estimated value of $10usd). You can also earn an additional 25 coins for every frienf who signs up with your CoinPayments referral link, which can be found in your account under Affiliate Tools. Coins will appear in your CoinPayments balance on March 15th but will not be accessible until after the airdrop ends. Ongoing affiliate rewards will also begin there; you will earn 25% of all eligible transaction fees that are charged to your referred accounts, for life!