Frequently Asked Questions
Is the plugin free to install, or is there a pricing plan?
Currently, CosmosPay does not charge any type of money to install the plugin, and there is no such thing as a pricing plan.
Does CosmosPay charge fees?
Currently, CosmosPay does not charge any transaction fees. We believe it is important to offer our services for free to stimulate adoption. However, we do charge a fee for listing new currencies in CosmosPay
Is the plugin easy to use?
Yes, both for the shopowner as the customer the plugin is optimized to work as smoothly as possible.
For the WooCommerce plugin installing can be done in a few clicks using the WordPress marketplace and configuring the plugin using Keplr is also done in a few steps.
Installation for PrestaShop can be done via downloading the zip on our Github and continue from there. Configuring the module is exactly the same amount of steps.
For the customer paying with the enabled cryptocurrencies is very easy in combination with Keplr. The plugin/module automatically sends the required information about the receiving address, amount and the accompanying memo to Keplr after which the customer only has to accept to send the transaction. The transaction itself is completed in seconds, thereby completing the payment.
Can I ask CosmosPay to install the plugin/module on my webshop?
No, CosmosPay will not install the plugin/module in your webshop. We have detailed step-by-step guides to help you through the installation and activation of the plugin/module.
As a shop owner, am I allowed to choose which cryptocurrencies I want to accept?
Yes, the choice is completely up to the shopowner which cryptocurrencies are accepted in their webshop. This can be done via the configuration of the plugin. Find a guide on how to do this here for WooCommerce or PrestaShop.
I want to modify the plugin for my webshop, is that possible?
You can configure the plugin as you like within the available settings. The plugin/module will not be tailored to a specific webshop. If there are features which will be beneficial for the complete (or a large part of the) cannabis industry we will consider adding them. Submit your ideas via the contact form on the website or via the contact indicated on WooCommerce.
Is CosmosPay an intermediary in the transaction using the plugin?
No, any transaction done using our plugin/module is handled like a peer-to-peer transaction and only involves the customer and the shopowner.
Can I use the plugin in other industries then the cannabis industry?
Yes, any webshop using WooCommerce or PrestaShop can install the plugin/module.
Will there be furter development of the plugin?
Yes, we will update and maintain the plugin. New features will be added in the future. We will communicate this via our social media channels (Twitter, Telegram, Discord). Updates to the plugin can be applied automatically if using the plugin on WooCommerce. Updates for PrestaShop have to be downloaded and installed using our Github.
How are the prices of the supported cryptocurrencies determined?
The plugin/module retrieves the prices of the supported cryptocurrencies from CoinGecko. The plugin/module uses this information to convert the fiat value (expressed in e.g. USD, EUR, PLN, JPY, CNY, KRW) to the selected cryptocurrency. The price is then locked for 1 hour in which the customer has to fulfill the payment. If the hour is passed the transaction is automatically rejected.
Will CosmosPay be able to access or recover my funds?
No, we will never have access to your funds. CosmosPay will never have access to the backend of your webshop or your wallet.
Making a proper backup of the mnemonic obtained during the creation of your wallet is crucial to ensure you keep access to your funds. This is critical in case you need to reinstall Keplr and want to reuse the wallet.
Why does every payment generate a memo?
Every order which is being paid using the Cosmos Pay plugin gets an unique memo. This is either added automatically to the transaction if using Keplr as a payment method or needs to be added manually when choosing to pay using another wallet.
Every payment is checked on three different metrics to ensure that the right payment has been made:
- A check is performed on the receival address (does it belong to the shopowner?)
- A check is performed on the amount (is it the correct amount?)
- A check is performed on the memo (is the right memo added to the transaction?) By performing these checks we ensure that the shopowner receives the payment and that he can ship the products to satisfy the customer.