Berlin, February 2, 2016 – CryptoWoo is a decentralized payment plugin for WooCommerce that gives merchants full control over the checkout process, customer data and their private keys. It enables merchants to seamlessly accept Bitcoin, Litecoin and Dogecoin at their WordPress based webshop.
With decentralization and consumer privacy at the heart of its business model, CryptoWoo makes itself stand apart from the rest of the platforms in the industry.
The main plugin uses the Block.io API and wallet service. Communication between the plugin and the API is secured via 4,072 bit SSL keys. All data stored at Block.io is encrypted and with multi-signature wallets built on top of hierarchical deterministic wallets (HD wallets). This makes it impossible to move coins without the merchant’s signature. The HD Wallet Add-on for CryptoWoo reduces external influence even further. It allows the sales revenue to go directly into a cold storage wallet without any involvement of third parties.
“We provide merchants with a seamless and secure solution that offers more flexibility and better protection of funds and privacy than any of the other solutions that are currently available.”
Over the last 12 months the CryptoWoo plugin has been tested by several online stores such as Keys4Coins.com and has generated a great deal of positive feed-back from both merchants and their consumers.
Until now accepting payments in multiple digital currencies either required the merchant to handle large data storage to store the different block-chains or to use a payment provider that manages the processing for them. The downside of using a payment processor is that the merchant has to trust these providers with sales revenues and customer data. In most cases customers are also redirected to the website of the respective provider, thus making the shopping experience prone to failure and increasing the risk of abandoned orders. This centralized structure creates single points of failure, where downtimes and data breaches typically have a severe impact.
In contrast to this, CryptoWoo gives merchants more control over the shopping experience they provide. This is achieved by the integration into the shopping cart and check-out process of the store as well as product pages and listings.
Customers can choose a display currency that converts all prices using live exchange rate data from digital currency exchanges. The whole checkout process happens in the store and no customer data will be shared with third party providers.
“For both merchants and consumers alike who want to use a payment plugin that is decentralized by design and respects their freedom of voluntary trade and association, CryptoWoo is the natural choice.”
There are three types of annual licenses beginning at $34 for a single store, $49 for multiple stores and $99 for a premium license. All CryptoWoo licenses include one year of updates and support. A Premium license gives access to the source code repository and the possibility to influence the implementation of new features and improvements.
CryptoWoo is the brainchild of Felix Stein a 29 year old digital currency enthusiast from Berlin, Germany who has a B.A. in Business Administration from the University of Applied Sciences Mainz. He has experience in various areas of different industries from freelance event management and online marketing to being a sales manager at Sum-up Payments Ltd.