Coinbase Opens Commerce API For Merchants To Use Cryptocurrencies
Cryptocurrencies have dramatically lowered the barrier to accepting payments on the internet but Coinbase Commerce is taking it a step further by making it easier than ever to accept cryptocurrency in the way cryptocurrencies were designed to be accepted: in a truly P2P fashion.
Coinbase Commerce has just announced the launch of their Coinbase Commerce API which makes it extremely easy for merchants to integrate cryptocurrency payments directly into their e-commerce solution. Instead of manually creating payment buttons or hosted pages to accept cryptocurrency payments, you can dynamically generate them using their API.
This is a welcomed news for adoption of cryptos. However, Coinbase has drawn a lot of criticism for being too centralized. They collect an enormous amount of data including your account details, they track your product and services used, your transactions made and much more. Although this might be much needed step to bridge between centralization and decentralization. In time there will be solutions that are more decentralized but as of now the way forward seems to be the path taken by Coinbase. This will help SEC with tracking crypto addresses for tax purposes.
The mission at Coinbase is to create an open financial system, so they have designed Coinbase Commerce to be a free non-custodial solution for accepting cryptocurrency so merchants are in full control of their funds.