Cryptocurrencies have always been seen as an alternative financial system, and most people consider coins and tokens to be commercial commodities. Many people still do not believe that cryptocurrencies can replace traditional or fiat currencies because they still feel that cryptocurrencies are not yet accessible enough to buy everyday products and services from. While many people feel it is due to volatility, many still need more payment gateways to use their cryptocurrencies and tokens.
Therefore, many businesses have yet to learn about gateway mechanisms that allow them an option to receive payments in crypto from their customers. So, here is the list of top payment gateways that businesses can select and be ready for crypto in 2023.
CoinGate is a super powerful and popular cryptocurrency payment gateway that provides a perfect customer-oriented payment ecosystem for cryptocurrency payment. In addition to cryptocurrencies and tokens, merchants can accept traditional fiat payments like USD, Euro, etc. Coingate, as a payment platform, supports over 70 cryptocurrencies, including big names like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. CoinGate stores most cryptocurrencies in secure cold wallets on the back-end, charging a 1% transaction fee on all transactions. Merchants must integrate Coingate into their websites via an Application Programming Interface (API) and a plugin for select eCommerce platforms, including WooCommerce and Magento. They can withdraw the fund using Bitcoin or SEPA. It is also possible to send CoinGate generated invoices via email or link.
Coming from the house of one of the largest cryptocurrency exchanges, Coinbase offers crypto payment gateway services through Coinbase Commerce. This ultra-fast gateway allows merchants to receive payments securely without relying on any intermediaries. The user can access this platform from more than 100 countries and accepts payments from various cryptographic and non-cryptographic methods, including bank accounts, deposits, debit cards, credit cards, PayPal and 3D Secure credit cards. One point to remember here is that Coinbase considers the jurisdiction from which you log into the platform and allows only those payment options that are allowed or supported in the country. Coinbase Commerce is one of the best partners for online stores looking for a reliable cryptocurrency payment solution. Coinbase also offers integrated services for leading website solutions like Shopify, WooCommerce, Magento, and OpenCart. It supports cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, USD Coin, and DAI. The trader can go for either of the two Coinbase Commerce plans depending on the services they are looking for. This is a flat 1% transaction fee on both plans.
BitPay, one of the first and oldest cryptocurrency payment gateways, helps merchants reach an international audience while providing maximum security and protecting them from any hacks and fraud. It also offers an open source eCommerce plugin. BitPay’s interactive API-based platform enables global access in over 40 languages, making it a truly global platform. Major global companies, including Amazon, Master Card, Delta, and Bol.com, currently rely on BitPay. As an early player, Bitpay supports major cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, and Binance Coin. For payment, the merchant can choose from Bitcoin, Bitcoin Cash, USD Coin, Gemini Dollars, and Paxos, along with fiat currencies like USD, EUR, GBP, and many more. Bitpay payment gateway supports payments, retail payments, and billing. For retail payments, BitPay also uses a QR code billing system. Each transaction on this platform will cost you a 1% fee.
AlfaCoins envisions making cryptocurrency payments easy and secure for legal business entities around the world. Instantly convert incoming payments, providing the user with competitive cryptocurrency exchange rates. Merchants have the option of paying the 0.99% fee on each completed transaction or they can pass it on to the customer. The platform has an automatic withdrawal feature that transfers the cryptocurrency to the merchant’s wallet without additional fees. Alfacoins supports almost all major cryptocurrencies including Bitcoin, Bitcoin Cash, Dash, Litecoin, Ethereum, Tether ERC-20, and XRP. For withdrawal, it supports fiat currencies like USD and EUR. Merchants can use AlfaCoins for easy payments and fund transfers in any country except Iran and North Korea. They can also integrate it into their commerce websites using APIs, Instant Payment Notification (IPN), payment buttons, and plugins.
When it comes to accepting payments on merchant websites, Shopify Gateway is a trusted platform globally, especially when it comes to cryptocurrency. In addition to supporting many eCommerce websites, Shopify has a user-friendly interface that accepts crypto payments from anywhere in a completely secure manner. The platform supports almost all major cryptocurrencies including Bitcoin, Bitcoin Cash, DAI, Ethereum, Litecoin, and Dogecoin. Plus, it doesn’t need PCI compliance and is compatible with computers, tablets, and smartphones. However, the merchant will need a Shopify account to access the Shopify gateway. Depending on the payment processor used by the merchant, the transaction fee for this platform will be different.
GoURL is an open source payment gateway that accepts cryptocurrencies and tokens that successfully protects and provides anonymity to its users. Although it does not support direct bank transfers, it completes the entire payment transaction within 30 minutes without the user having to wait. Even if the merchant does not own an eCommerce website, they can still receive cryptocurrency payments using the Monetiser Online platform service. However, its cost is high, as the merchant has to pay a 3.5% transaction fee, while for payments via Bitcoin or altcoins on a website, GoURL will charge a 1.5% fee. . Using their Bitcoin payments plugin, the merchant has an option for this with their WordPress sites. Registration on this platform is available at no cost, and any Speedcoin payment will not generate any fees.
If the merchant is looking for a payment gateway that reduces transaction costs for their business, NOWPayments is the perfect option. Especially if the trader is ready for settlement in the same cryptocurrency, he will allow you to do it with one of the lowest fees. However, paying in other currencies with NOWPayments incurs additional charges. The NowPayments platform comes with a convenient API and several plugins that the merchant can use to integrate with some of the best names in the eCommerce industry, which includes Shopify, Magento, WooCommerce, and OpenCart. NowPayments is a completely non-custodial and easy-to-use gateway solution. Supports more than 100 cryptocurrencies and converts cryptocurrencies to fiat currencies. Supported cryptocurrencies and tokens include Bitcoin, Ethereum, Ripple, Litecoin, and Dogecoin, among others.
SpicePay is a cryptocurrency gateway that merchants can trust to make instant and secure crypto payments using Bitcoin, Litecoin, Ethereum, and Bitcoin Cash. It gives merchants the power to accept cryptocurrencies and offers various withdrawal modes such as debit cards, bank transfers, SEPA and PayPal. The platform allows the trader to convert cryptocurrencies to USD, EUR, GBP or CAD. SpicePay’s standard flat fee is 1% of the transaction, although new merchants enjoy free transactions for a limited period. The platform also allows users their open source plugins or other solutions like buttons, iFrame, hosted page and email invoices, which can be easily integrated into the merchant’s website.
Developers love GoCoin all over the world as a payment gateway. This is because it offers a simple API for them to use. GoCoin provides a variety of plugins so that it can be used on various online shopping platforms, including Shopify. This cryptocurrency payment gateway also comes with excellent customer service. It offers payments in USD and charges a flat fee of 1% on all transactions. It is supported in all but a few countries around the world, making it an affordable option for traders around the world.
Merchants like Bitcoin Pay because they offer the lowest fees. It is only 0.8% on all transactions, making it one of the least expensive payment gateways. Despite having lower fees, BitcoinPay still offers super-fast withdrawals where funds are received and available within seconds. It supports payments to bitcoin wallets and other electronic wallets along with bank accounts. As an additional service, BitcoinPay offers prominent reports that help merchants quickly review completed transactions. This feature is very much appreciated by small business owners who have to manually verify transactions. BitcoinPay currently offers plugins for Magento, WooCommerce, OpenCart, PrestaShop, and various other shopping platforms.
While using a cryptocurrency payment gateway is not an absolute necessity, it helps by providing fast service and full transparency. Check the attributes of the main cryptocurrency payment gateways to find out which one is best for you.