What is a payment gateway?

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Waves.Exchange allows you to hold and transfer external currencies on its blockchain. This works through an established centralized Coinomat and Waves.Exchange gateways: Bitcoins or any supported gateway coins are sent to a user's personal Waves address via standard transfer and after the depositing user receives Waves based tokens (wBTC) issued in the Waves blockchain. Every single gateway tokens are backed 1:1 with the real external coins.

At the moment, there are gateways for Litecoin, ZCash, Bitcoin Cash, Dash, Monero, Bitcoin SV managed by the Coinonmat gateway and BitcoinEthereum, USDT, WEST, Ergo, Bancor managed by the Waves.Exchange gateway.

How does it work?

After creating a new outgoing transfer, Bitcoins or any other supported gateway coins are transferred to the gateway side as wBTC (Waves BTC) tokens via Waves network, then gateway processes transfer and finally sends as external BTC transaction, i.e. wBTC > Waves network > Gateway > BTC. For deposits, the process is repeating but in the opposite direction BTC > Gateway > Waves network > wBTC asset.

So, you will receive coins to a specified address. Please keep in mind, transfers may take up to 60 minutes.

Warning: The gateway transactions are always processing only via the Waves addresses. For Coinomat gateway: 3PAs2qSeUAfgqSKS8LpZPKGYEjJKcud9Djr. Addresses for Waves.Exchange gateways can be varied. Please check the wallet notification during creating outgoing transfers (see Gateway address).

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