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There is no denying that an increasing number of companies and people throughout the world are accepting cryptocurrency payments, and it can be difficult for some people, even large companies, to locate proper cryptocurrency payment gateways. In this article, I will provide you some of the top bitcoin payment gateways.
Bitcoin payments made up up to 3% of all preferred payment methods worldwide in 2017, according to Statistica. Although this may seem like a small percentage, the mere fact that bitcoin has entered the conversation speaks volumes.
So you will often see that industries like gaming, gambling, dating and many others, prefer to offer bitcoin to their clients among other payment methods. More to that numerous retailers also feature this currency on their checkout page.
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Table of Contents
What Are Crypto Payment Gateways?
Third-party payment processors that deal with digital currencies such as Bitcoin and Ether are known as crypto payment gateways. These types of service providers perform an important function in today’s crypto and blockchain landscape – they help speed up the adoption of cryptocurrencies by merchants.
Since the cryptocurrency industry is still in its infancy, it should come as no surprise that it hasn't yet built a solid reputation among businesses that normally rely on tried-and-true methods of doing business, particularly when it comes to handling payments. A financial system that has had decades, if not centuries, to develop is ultimately what supports even the more innovative online payment choices.
Another reason that deters shops from widely accepting cryptocurrency payments is the unpredictability of its price. However, even the largest cryptocurrency enthusiasts have few options when it comes to making payments in cryptocurrency, this substantially reduces the utility of cryptocurrencies for consumers.
Best Bitcoin Payments Platforms
Platforms for accepting cryptocurrency payments from customers for goods or services are available. This means that you will accept bitcoin in the same way that you already accept other forms of payment, such as credit/debit card purchases or bank transfers.
If done correctly, you will notice that these cryptocurrency payment gateways are fast, free of costs, and enable money to be transferred directly into your wallet. You also have the option to convert the funds to fiat currency as needed. You can come across hosted Bitcoin payment processors, which might be self-hosted, non-custodial, or custodial.
So stay glued to your reading as I am about to disclose to you some of the best Bitcoin payment gateways that you can take into consideration.
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1. BTCPAY Server
You may really receive payments in Bitcoin (on-chain and over the lightning network) and altcoins directly using our free non-custodial and open source cryptocurrency payment gateway, free of any fees, transaction costs, or third parties. Since there is no intermediary (third party), you are effectively acting as your own cryptocurrency payment gateway.
Numerous people or organizations, including e-commerce businesses, retailers with physical locations, nonprofit organizations, and content creators, can use the BTCPAY Server. Additionally, you have the opportunity to set up your own cryptocurrency payment gateway using the BTCPAY server, enabling you to process payments for your friends or nearby businesses.
The web-based Post app allows merchants with brick and mortar stores to readily accept cryptocurrencies whilst online stores have that possibility to easily embed HTML payment buttons to allow their customers to conveniently pay from online. When a site visitor clicks on the bottom, BTCPay displays am invoice.
2. Blockonomics
You can think of this cryptocurrency payment gateway as one of your options for permissionless cryptocurrency payments. Similar to BTCPay, this cryptocurrency platform enables you to accept payments straight into your personal bitcoin wallet. With Blockonomics, which currently supports bitcoin and other altcoins, the first 20 payments are free. Clients pay a transaction fee of 1% per transaction.
Only your email address is needed to use this cryptocurrency platform, there are no KYC or documentation requirements. There is no limit to how much Bitcoin you can receive using this platform, and you can also send P2P crypto bills anonymously. Invoices are frequently encrypted in your browser and secured using secret keys when you send them.
When a customer pays in cryptocurrency, an instant conversion to fiat is performed with the assistance of blockonomics' fiat partner, uphold wallet. This platform sends the BTC that you have received automatically to Uphold wallet which is then instantly exchanged to fiat. Uphold wallet supports a number of methods of bank transfers including ACH and SEPA.
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3. BitPay
Another bitcoin payment gateway has been added. BitPay is an enterprise-grade platform for accepting and utilizing cryptocurrency payments. With BitPay, invoices may be sent at a fixed exchange rate, and cryptocurrency payments are also received straight into your wallet or the BitPay non-custodial wallet, giving you complete control over your earnings.
Microsoft, Shopify, and Zynga are among the other well-known and trustworthy companies with which BitPay works. They support over 90 crypto wallets, 200 nations, and all significant crypto currencies, including Bitcoin.
BitPay does not have a monthly transaction limit and charges a fee of 1% per transaction. This BitPay platform allows you or your business to accept cryptocurrency in 3 main ways which are in person, by email, and on website.
When you will begin to receive payments, you are able to order BitPay card (Mastercard) which you are able to use to convert your earned cryptos into fiat with no conversion fees. BitPay can also settle funds via local bank transfer (ACH, SEPA, FPS, etc.) in 8 currencies (USD, EURO, GBP, AUD, ZAR, CAD, MXN, and NZD) and direct bank deposit in 38 countries.
4. CoinGate
Here is one of the best cryptocurrency payment gateways for any websites or physical stores you may have, because after successfully signing up for your account, you will have access to crypto features such as payment buttons, Web PoS application, API integration, and official plugins for the most popular e-commerce platforms.
Any cryptos you receive through CoinGate can be sent to any crypto wallet of your choice, and you can also withdraw USD and EUR from your CoinGate account to your bank account via Skrill or AdvCash.
This crypto platform supports over 100 countries worldwide, more than ten native crypto currencies, and more than 50 altcoins via crypto exchange.
5. CoinPayments
Here comes a cryptocurrency payment gateway that provides its clients with outstanding features such as eCommerce plugins ( WooCommerce, Shopify, OpenCart, Magento, etc) payments buttons, API, shopping carts, crypto invoice builder and fiat currency conversion to cryptocurrency and vice versa. In fact, this platform accepts all major cryptocurrencies, including Bitcoin.
With CoinPayments, you can set your payout address to go directly to a cryptocurrency exchange and this allows you to automatically sell your cryptos thereby reducing your risk of exchange rate fluctuation. Also with this cryptocurrency platform, you are able to send payout to go into your own crypto wallet and their fees are as from 0.5% per transaction which is also lesser as compared to some other cryptocurrency gateways.
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6. Coinbase Commerce
Coinbase Commerce is one of the cryptocurrency payment gateways that accepts Bitcoin and a few other altcoins. Coinbase, a cryptocurrency exchange and wallet, provides the service, as the name implies.
You are going to have the following features as a coinbase commerce client.
- Crypto invoicing
- Hosted checkout pages
- Web books for charges
- Customized payments buttons
- Multi currency
- No limits
You will not incur any fees when transacting with Coinbase Commerce because they do not charge any fees, but you will have to pay a network fee to cryptocurrency miners in order to withdraw any crypto that you received. Withdrawal fees are typically set between $1 and $5 for Bitcoin and less than $1 for other currencies.
Watch the below Video Guide on
Top 7 Cryptocurrency Payment Gateway Platforms
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Advantages of Crypto Payment Gateways
I'm sure you're wondering what makes people flock to cryptocurrency gateways; well, below I'll show you some of the benefits of using cryptocurrency gateways.
1. Lower fees
Many business owners prefer cryptocurrency platforms because of their lower fees, which are typically less than 1%, when compared to other payment gateways such as Skrill, which charges its clients 2.90% (plus conversion fee), while credit card companies typically charge up to 3% of the transaction amount. Also you might see that in most cases there is no monthly registration or maintenance with crypto payment gateways.
2. Speed
When you use bitcoin platforms, your crypto transactions occur almost instantly, as opposed to other bank accounts or payment platforms, where you must wait 3 to 5 days for your transaction to be completed.
3. New opportunities
They help merchants and businesses gain customers and also boost their revenue.
4. Irreversible
Crypto payments are irreversible and unchangeable, thereby leading to a reduction in charge back fraud.
5. Integration
With crypto payment gateways, you are able to conveniently integrate your store with leading accounting software and ecommerce platforms such as WooCommerce, Shopify, Magento and many others.
Conclusion on Crypto Payment Gateways
Well, I can say that there are many options for carrying out financial transactions, and cryptocurrency is one of them. Crypto payments are an excellent way to acquire new customers and increase revenue for your company.
So after having gone through this article, it is now left on to you to decide which cryptocurrency payments gateway best suits you depending on what you want and the features of the platform.