When setting up crypto payments, businesses often need to make a choice in favor of one of the crypto processors. Currently, there are dozens of services which offer relatively similar crypto payment gateways. So, it can be tough for businesses to pick the one which fits their needs best. We have compiled a list of the most-trusted crypto payment gateway providers.
What is a Bitcoin payment gateway?
A crypto payment gateway is a platform which is tasked with processing payments made in cryptocurrencies. Usually, businesses utilize third-party crypto payment gateway providers. By using ready-made software solutions, businesses can start accepting crypto almost instantly and, in many cases, without undergoing a KYC procedure.
Why to accept Bitcoin as a payment?
Here are several reasons why you may consider accepting crypto as payment
Anonymity and Safety
Bitcoin, just like the majority of cryptocurrencies deployed on public blockchains, is anonymous. Essentially, the network does not register your identity and does not assign a specific crypto address to your name. By deploying a Bitcoin payment gateway, merchants can provide clients with an anonymous means of payment which is also safe thanks to blockchain technology.
Easy international transfers
Bitcoin was built as an alternative to the existing banking industry. One of the goals was to modernize the realm of international payments. Now, thanks to Bitcoin, companies no longer have to wait for days for their wire transfer to reach their recipient in another country. The Bitcoin network can process any transaction in a matter of minutes, irrespective of where the two parties live.
No chargeback
Chargeback fraud is becoming far too common a practice these days. Companies often suffer great losses due to illicit chargebacks. Bitcoin eliminates any possibility of a chargeback since all of its transactions are immutable. Basically, criminals cannot revoke their transaction since once the sum they sent enters the public ledger, it is gone forever from their account.
New customers
Publicity is the greatest asset to any company since it enables it to boost its outreach to a larger audience. Featuring Bitcoin payments still attracts the attention of the public and media. Deploying a crypto payment gateway may earn you several loyal customers willing to spend their Bitcoins on your products.
Best cryptocurrency payment gateways of 2024
NOWPayments
NOWPayments is a crypto payment processor which delivers an extensive selection of tools for accepting all kinds of cryptocurrencies, from Bitcoin to the hottest tokens such as SHIB. The total number of cryptocurrencies available to NOWPayments’ users is over 100.
NOWPayments is a non-custodial service which means that it does not hold the funds of its partners. In other words, NOWPayments guarantees instant payouts to its clients.
NOWPayments also offers fees which are among the lowest ones in the industry. For instance, businesses that use NOWPayments’ solutions can pay as little as 0.4% off each transaction.
Such fees make NOWPayments particularly beneficial for smaller companies that want to minimize their expenses. For example, such companies often deploy online stores on platforms such as PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware. NOWPayments has special plugins for integrating automatic crypto payments compatible with each of these platforms.
At the same time, NOWPayments’ crypto payment gateway solutions are also perfect for large and medium-sized businesses. Such companies can utilize NOWPayments’ API, which can be customized to fit their particular requirements. The API is easy to deploy, and there is a lot of documentation on how to do it correctly. In addition to the API, NOWPayments lets merchants deploy instant payment notifications (IPN), a system that will provide them with messages on every payment received through the gateway.
NOWPayments offers a tool ideal for brick-and-mortar stores which is the Point-of-Sale terminal for accepting cryptocurrencies. The PoS system developed by NOWPayments is mobile and web-based, which means that you can run it in any web browser, either on a laptop or phone. The solution enables merchants to issue custom crypto invoices for each individual client. Businesses also can issue reusable invoices for each of the products. The price in crypto will be automatically updated on a regular basis.
Coinbase
If you are at least partially familiar with the crypto market, the chances are you have heard about Coinbase before. Coinbase is one of the largest cryptocurrency exchanges, which provides a trading platform for hundreds of thousands of crypto enthusiasts around the world.
Coinbase Commerce is a branch of Coinbase which is responsible for the provision of a crypto payment gateway to merchants.
Coinbase has a variety of special features which some may find convenient. For instance, when deploying a crypto payment gateway using Coinbase Commerce, users do not need to set up a separate crypto address for each coin they wish to receive. Coinbase does it automatically, and the payments made by customers instantly appear in the merchant’s account. At the same time, the core disadvantage of the platform is the fact that it is custodial. In other words, when holding crypto in their Coinbase account, merchants do not fully own their private keys, which entails a risk of losing one’s money.
Moreover, Coinbase’s fees are higher than those offered by NOWPayments. Essentially, every transaction processed by Coinbase costs the merchant 0.5% of the total sum of the payment. Additionally, Coinbase offers only 70 cryptocurrencies which merchants can accept as payment.
CoinGate
CoinGate is another notable player in the sphere of payment processors. CoinGate works in a way that is similar to NOWPayments and Coinbase. Basically, it offers several crypto payment integration solutions which are relevant for different types of businesses. CoinGate users can utilize tools such as plugins, API, or buttons. CoinGate has one of the highest fees on the market. All of the transactions processed through the aforementioned tools are subject to a 1% fee, which can be quite a lot for smaller enterprises.
Additionally, in order to start using CoinGate, merchants need to undergo a KYC procedure which is certainly unacceptable for those businesses that want to keep their operations private. If you wish to use a private way of deploying a crypto payment gateway, then consider utilizing NOWPayments’ solutions.
One of the key advantages of CoinGate is that it does not store the crypto of its users like Coinbase. Instead, it makes payouts to external addresses provided by the client in advance. The selection of coins eligible for accepting in the case of CoinGate is still less diverse than that of NOWPayments. Still, merchants can choose among more than 70 different altcoins and deploy those which they consider the most relevant for them.
Blockonomics
Blockonomics provides simple tools for accepting cryptocurrencies that do not require any technical skills from merchants. The choice of solutions offered by Blockonomics is once again quite standard, and it includes plugins, invoices, and API for custom payment gateways. Blockonomics does not prevent users from deploying its tools by requiring them to disclose identity. Basically, any company can create a crypto payment gateway provided by Blockonomics without listing every single detail about its business and owners.
Perhaps, the coolest feature of Blockonomics is its crypto transaction explorer. The system lets merchants track all of their payments in real-time and monitor how it is being processed. Blockonomics also has a notification system. It works by sending an email each time a new payment is received by the wallet of the merchant. Yet, the biggest disadvantage of the platform is an extremely small selection of coins that businesses can offer to their clients as payment. Specifically, Blockonomics offers Bitcoin, Bitcoin Cash, and Ethereum. It is clear that the lack of diversity in terms of payment options makes many people reluctant to use Blockonomics. After all, Bitcoin and Ethereum transaction fees are among the highest in the industry, and it may not make any financial sense to companies to operate with such fees.
CoinPayments
CoinPayments is a crypto payment gateway provider which has managed to get hold of a large share of the market of crypto payment processing. CoinPayments is used by more than one hundred thousand merchants, which find it the ultimate solution for their businesses. At the same time, CoinPayments’ fees start from 0.5%, which is comparable to that of Coinbase and NOWPayments. The company was launched in 2013 and since then has processed more than $10 billion, which is a mind-blowing sum, if you think about it. The crypto gateways powered by CoinPayments are deployed in more than 200 countries on the planet.
CoinPayments is a custodial service that keeps the payments received by the merchant on its platform. Still, thanks to its custodial infrastructure, CoinPayments allows merchants to hold more than 2260 different coins in the same wallet. Essentially, companies that utilize CoinPayments can accept any kind of crypto coin available on the planet.
Just like NOWPayments, CoinPayments offers a feature of automatic crypto conversion, which can be beneficial for companies that wish to avoid crypto volatility. CoinPayments is used by many well-known brands, including NordVPN and BitGild that trust the service with processing all of their crypto payments.
BitPay
BitPay is another member of the “Big League” of crypto payment processing companies that offers its assistance to merchants wanting to get cryptocurrency as payment. It can be said that BitPay is one of the leading payment processing services out there, which still remains a strong competitor despite being launched quite a while ago. Still, one of the main issues related to BitPay’s services is the size of the fees. Merchants using BitPay’s crypto payment gateway need to pay 1% off each of the payments they receive. At the same time, BitPay merchants can enable the auto conversion feature and receive all of the cryptocurrency they accept in the form of euros and dollars using a direct bank deposit.
BitPay’s crypto payment gateway solutions are highly mobile and can be deployed on a tablet or laptop. BitPay has a special custodial wallet called BitPay Wallet, where merchants can store their funds. They also can spend their holdings on products and services of other merchants accepting crypto. Invoices issued by BitPay have been translated to 40 different languages, which facilitates crypto adoption in different regions of the world. BitPay also enables merchants to accept more than 150 different coins as payment.
Plisio
Plisio is a privacy-focused crypto payment gateway which respects the confidentiality of its users, as well as has a large number of cryptocurrencies available for accepting. Companies that deploy their crypto payment gateway with the help of Plisio’s solutions do not need to disclose their private information. Moreover, the platform does not keep any record of the transactions received by their clients and does not track any of the payments. Plisio utilizes 2FA, SSL Technology, and Trusted IPs in order to keep the funds and information of its clients secure.
Plisio does not charge merchants for registration or setting up their gateways. It does not have any monthly or subscription fees. The only fee which merchants need to pay is the transaction processing one which is 0.5%.
Plisio has a multicurrency wallet which is also available on mobile phones. Using the wallet, merchants can manage all of their funds. At the same time, Plisio also offers a White-Label option on its website. It provides merchants with a chance to customize their crypto invoices and remove any Plisio branding. Still, those merchants who choose the White-Label option (which is more than 60% of businesses) need to pay a fee of 1.5% off a transaction.
OpenNode
OpenNode is another easy-to-navigate solution for merchants that do not want to dive deep into technical documentation. OpenNode allows merchants to accept Bitcoin payments from anywhere with payment buttons, hosted checkouts, eCommerce plugins, and OpenNode’s API. OpenNode enables merchants to automatically send funds to any recipient, be it a contractor or supplier in either Bitcoin or their local currency, instantly & on-demand. OpenNode users seamlessly convert between Bitcoin and major currencies automatically at the time of the transaction with locked exchange rates or on demand. Nevertheless, the lack of altcoins is perhaps the main disadvantage of OpenNode. Essentially, OpenNode merchants can only accept Bitcoin as payment.
OpenNode facilitates payment settlement using Lightning Network, which ensures instant transactions of Bitcoin. Still, merchants can always choose to use on-chain transactions. OpenNode protects businesses and payers from Bitcoin price changes. OpenNode calculates the Bitcoin denominated amount when payment is initiated, not when an invoice is first received.
Another great feature of OpenNode is the transparency and transaction history tracking. Merchants can download data on all of the payments they received and then use it for the purpose of accounting at the end of a fiscal year. OpenNode charges 1% off each transaction it processes.
AlfaCoins
AlfaCoins is one of the less likely candidates for the role of a crypto payment processor for the majority of merchants. Still, AlfaCoins has characteristics that some people may find appealing. AlfaCoins allows merchants to accept only seven basic coins, including Bitcoin, Ethereum, XRP, and Ethereum. Although such a selection can be considered fairly small by modern standards, AlfaCoins has a card up one’s sleeve. AlfaCoins lets people pay for products in installments, paying a share in crypto and the other one in fiat.
AlfaCoins primarily utilizes invoices, which are automatically updated. The exchange rate is set for 15 minutes and gets renewed.
AlfaCoins has a modern dashboard keeping merchants updated on their stats for income, revenue, sales dynamics, payments of their choosing all in one place. There are three basic ways to deploy AlfaCoins. Merchants can either integrate the platform’s API, set up a button on their website, or install a plugin for WordPress. Perhaps, the biggest disadvantage of AlfaCoins is the $0.99 fee which many can view as too much for such a small set of tools. Still, AlfaCoins is being supported by its team of developers, and certain merchants continue to utilize it in their operations to get crypto payments.
TripleA
TripleA is a prominent crypto payment gateway provider which is also a member of the Singapore Fintech Association. Over the years, the company has processed more than 20k transactions worth more than $12 million. Moreover, today, there are more than 900 businesses in 60 different countries that utilize TripleA’s solutions which are, in fact, quite diverse.
Online merchants can integrate TripleA’s crypto payment gateway in their online store in just a few clicks and attract new customers from all over the world. Merchants can add crypto as a new payment method to their existing payment gateway. Brick-and-mortar businesses can accept cryptocurrency in their physical stores directly with mobile devices and POS machines developed by TripleA. Just like the majority of crypto payment processing companies, TripleA offers the option of accepting crypto payments with just one link and no coding using a crypto payment link with a QR code. TripleA has a digital wallet that facilitates the management of crypto for merchants and lets them trade their funds, as well as withdraw them. TripleA has a developer-friendly API that enables merchants to integrate it even without asking for assistance. Additionally, TripleA offers plugins for Shopify, WooCommerce, and other similar platforms.
Conclusion
When searching for the best Bitcoin payment gateway, it is easy to get confused. The list presented above can help you to finally decide on the BTC payment gateway which you will integrate.