The objective of this tutorial is to show merchants and users how to setup POA20 as an acceptable currency via CoinPayments when conducting transactions. Based on various preferences, CoinPayments enables merchants to accept multiple currencies via ShapeShift. Merchants have several options when accepting a currency which will be reviewed in the tutorial.
In order to get started, you will need to sign up and create an account on CoinPayments. Once created, you will need to verify your account via email and ensure 2FA is authorized.
Setting up POA20 on CoinPayments
Step 1: Login to CoinPayments and select ‘Dashboard’.
Step 2: In the Dashboard, select ‘Coin Settings’
Step 3: In the ‘Std. Coins’ menu, locate ‘POA20’.
Step 4: To enable POA20, tick the first box on the left hand side.
Step 5A: Determine your Payout method. For POA20, there are two options:
To Balance: Received payments are stored in your CoinPayments wallet for later withdrawal at your leisure.
ASAP: Received payments are sent to the address you specify as soon as they are received and confirmed.
Step 5B: If you selected ‘ASAP’ as your payout method, enter your wallet address in the text box to the left. If you select ‘To Balance’, leave the text box blank.
Step 6: You may choose to enter a discount (optional). The discount may be positive or negative.
Positive Numbers (>0): Gives buyers a discount for paying with a coin. Good promotional tool if you want to give extra support to a particular coin.
Negative Numbers (<0): Adds a certain percentage (padding) for paying with a coin. This could be used to cover your crypto/fiat conversion costs, make adjustments to match your local exchange, etc.
Step 7: Enter the maximum value per transaction. Merchants are able to modify the maximum based on the currency of their choice.
Step 8: Save! At the bottom of the page, select ‘Update Coin Preferences’.