Cryptocurrencies are becoming more and more popular as of late, with Bitcoin being the king of the industry. Many companies like Tesla, for example, are accepting cryptocurrencies like Doge as a payment method for some of their merchandise. Transactions are direct from your crypto wallet to another person’s crypto wallet. This is the future of payments.
With so many options available now, we really need to have a clear understanding of the best bitcoin payment gateways out there.
Crypto payment gateways allow you to make a payment directly to the merchant’s wallet using nothing but his wallet address. It is super secured and usually has very low fees associated with the transactions.
Most people don’t care about how cryptocurrencies work. They just want to have the ease and anonymity of transactions that crypto promotes. This is why the industry needs payment bitcoin gateway solutions that can make it easy for merchants to accept cryptocurrency payments.
We have analyzed the best bitcoin payment gateways out there and have come up with the very best performers in the space. Here is the list:
|Founded By||Brian Armstrong, Fred Ehrsam|
The largest bitcoin exchange in the USA is Coinbase. It has a gigantic user base which is the result of the amazing features that they offer.
Coinbase also complies with all US exchange laws which makes Coinbase extremely trustworthy and reliable.
It serves as both an exchange as well as a payment gateway. Coinbase also makes it easy for its users to convert Bitcoin into fiat currency instantly without the merchant’s need to request a withdrawal. It offers this feature to all its users for the first $1 Million worth of transactions, after which a 1% transaction fee is charged.
It processes all the payments to the user’s bank account within 2-3 days of the withdrawal request. However, Coinbase is operational only in select countries worldwide.
|Founded By||Dmitrijus Borisenka|
CoinGate is a gateway that provides merchants with the ability to accept several cryptocurrencies. On top of accepting bitcoin, CoinGate offers merchants to use BitcoinCash, Dash, Dogecoin, Litecoin, and Zcash. In fact, they accept over 70 cryptocurrencies.
As a merchant, you will not have to worry about exchange rates, as CoinGate uses the value on your balance sheet to determine the amount of cryptocurrency you will receive.
CoinGate has already seen about 1.7 Million merchant orders from over 300k registered users. It also has received nearly 1.8 Million transactions already as of January 2022. It charges a 1% transaction fee to all its users.
CoinGate not only offers merchant services but also provides a platform for buying and selling numerous crypto-assets with a single payment. Customers can choose from purchasing methods such as credit/debit cards, SEPA bank transfer or mobile balance, or sell their coins for fiat.
|Founded By||Vitaliy Andrusevich|
The cryptocurrency market is becoming increasingly crowded, and to stand out from the crowd, you need to offer something innovative. CoinsBank offers a range of services, including a cryptocurrency exchange and a range of value-added services like merchant payment processing and a number of prepaid gift cards.
CoinsBank allows you to use crypto just like you would use your dollars with the swipe of a debit card, or by sending an email. You interact with CoinsBank just like you would with an ordinary bank.
Your CoinsBank wallet and debit card are connected. You can simply add bitcoins to your wallet and the card is ready for use. The card also has global acceptance so even if you shop at your local store, it will work.
ALFAcoins offers the unique feature of splitting the payment into traditional fiat currencies and crypto. This allows the merchants to reduce their risk while accepting crypto as payment.
ALFAcoins enables you to accept and integrate Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dash, Tether ERC-20, and XRP as payment.
It charges a nominal 0.99% fee on every transaction made using the platform. There are no hidden costs other than this 0.99% fee. Also, it is operational in every country around the world other than Iran and North Korea. Fiat withdrawals are done in USD and Euros only.
|Founded By||Tobias Lütke, Daniel Weinand, Scott Lake|
Shopify is a big name when it comes to eCommerce in general, and its popularity as a payment gateway is also widely known. It is perhaps the most popular among all mainstream payment gateways.
Shopify’s simple user interface and easy-to-set-up mechanism make it the perfect choice for businesses looking to accept crypto for the first time. You can even integrate other payment gateways like Coinbase using APIs.
Sellers need to sign up as a Shopify merchant to use its payment processing system. The transaction fees keep varying.
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|Founded By||Tony Gallippi and Stephen Pair.|
BitPay just like Shopify is easy to use and install. It is deliberately engineered in such a way so that merchants who are not tech-savvy don’t have to pay a third party to set it up for them. It also offers Bitcoin debit cards for easier transactions.
You can set a withdrawal time frame while using BitPay. If sellers want to withdraw their balance in installments they can opt for it. BitPay is also secured with two-factor authentication, making it safer and more trustworthy.
It also allows a free cap of $1,000 worth of daily transactions and $10,000 annual transactions before charging a 1% transaction fee. This is done intentionally in order to encourage entrepreneurs and small businesses to use BitPay.
BitPay is only operational in 37 select countries around the world and accepts 12 currencies.
|Founded By||Steve Beauregard|
GoCoin offers simple APIs that are favored by developers globally. The APIs enable GoCoin to be used and integrated into eCommerce plugins like Shopify.
It charges a flat 1% transaction fee. It is also operational in most countries around the world. It has also received $2.1M in funding from 18 different investors.
|Founded By||Daniel Houska|
Bitcoin pay is the cheapest and one of the best crypto payment gateway out there. It only charges 0.8% fees on every transaction. This makes it another good choice for entrepreneurs and small businesses as they are always looking to save money.
Although the transaction fee is less, it does not impair the performance of BitCoin Pay as a payment gateway on any account. Bitcoin Pay supports transactions to other wallets, and to bank accounts as seamlessly as any other platform. It is exciting to see a platform that breaks the competition just by offering a 0.1% relief to its users.
Bitcoin Pay also gives detailed account statements to their user making the transaction clear and transparent as it should be in a blockchain. This saves a lot of time for merchants who are always worried about the calculations. Bitcoin Pay can be integrated with various plugins including but not limited to WooCommerce.
|Transaction Fees||1.5% – 3.5%|
GoURL works with all the major bitcoin wallets and is even compatible with bitcoin debit cards such as the one offered by BitPay. GoURL offers a level of anonymity that is very attractive for some of crypto users. It makes this possible by bypassing the need for a bank account in order to operate it.
GoURL is also popular due to its extremely user-friendly WordPress plugins. It also gives clear account statements to its users, making the life of the merchants a bit easier. Also, payments are super fast and reliable.
It must be noted that GoURL doesn’t offer direct bank transfers, this might be a drawback for some users who depend on this feature. Also, GoURL charges a 1.5% fee on all payments made through a website and 3.5% for using Monetiser Online. GoURL faces competition from credit cards as the high rates it charges are very similar to credit cards and users already have them.
SpicePay allows merchants to withdraw bitcoin via PayPal and debit cards. Fiat withdrawals are made in Euros and USD only, depending on the choice of the merchant.
USD withdrawals are faster on SpicePay compared to the Euro withdrawals, which might take upto 1-day to complete. It charges the merchants a 1% transaction fee on every payment.
SpicePay isn’t the best choice out there but it is still among the top 10 crypto payment gateways. However, if your business uses PayPal on a regular basis you might consider using SpicePay.
Businesses must first recognize the best Bitcoin payment gateway for them. The second step will be to identify the plugins necessary to implement these gateways into their business website.
They must also note the features of the platforms they are choosing especially features like:
Business owners must shortlist the gateways they think are the best for them and choose the best-reviewed one from the small pool. Reliability, security, and trustworthiness should also be seen as priority traits.
Idea Usher has an expert team of developers, designers, and marketers who can help you create your own crypto payment gateway. Click on the banner below to get in touch.
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Coinbase holds 98% of its holdings in cold storage which cybercriminals cannot access. Making it one of the safest exchanges out there.
The cost varies depending on a lot of different factors like the features you want in the gateway. But it generally costs between $ 200K to $250K to build a functional crypto gateway.
To accept payments in crypto, you first need to sign up with one of the crypto payment gateways. Then you need to integrate the gateway with your website, or app and you are good to go.
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