Top Crypto and Bitcoin Payment Processors: 2023 Guide
Welcome to our comprehensive guide to the best crypto and Bitcoin payment gateways.
In this article, we will explore the top payment processors that allow merchants to accept transactions in cryptocurrencies, including Bitcoin, and other digital currencies like Ethereum, Litecoin, Ripple, and Bitcoin Cash.
We’ll cover features, benefits, and drawbacks, aiding your choice of a crypto payment gateway.
Also read: How to Buy Bitcoin or Crypto with Santander Group
Top Crypto and Bitcoin Payment Processors
Coinbase: The Trusted Bitcoin Exchange and Payment Gateway
Coinbase is the largest Bitcoin exchange in the United States and one of the leading global cryptocurrency exchanges.
With a large user base, Coinbase offers excellent features to simplify the payment process for its users.
Coinbase, a US firm, follows US exchange laws, ensuring trust in the unregulated crypto sector.
Apart from being an exchange, Coinbase also functions as a payment gateway. It enables instant currency conversion from Bitcoin into fiat currency, eliminating the need for merchants to request a withdrawal.
The service is free up to $1 million, followed by a 1% merchant fee on Coinbase. Payments reach the merchant’s account in 2 to 3 days, making them suitable for businesses of any size.
However, it’s worth noting that Coinbase operates in a limited number of countries worldwide. Visit their site for more information.
Also read: BlackRock Bitcoin ETF Approval Is a Matter of “When, Not If,” Insiders Say
Coingate: A User-Friendly App with Wide Crypto Payment Support
Coingate stands out with its user-friendly app that allows merchants to set up and monitor payments conveniently from their phones.
It supports over 40 cryptocurrencies, enabling merchants to expand their payment options significantly.
In addition to its app, Coingate offers various plugins and allows the creation of Bitcoin payment buttons on any website.
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CoinsBank: A User-Friendly Bitcoin Payment Processor
CoinsBank is a user-friendly Bitcoin payment processor with a good reputation in the industry. It is available as a mobile app for Android and iOS, making it accessible to users on the go.
One-click instant deposit and withdrawal features make it convenient for large-volume traders. CoinsBank supports major fiat currencies like USD, GBP, and EUR, allowing users better control over their money with transactions made at live market rates.
The platform offers the latest security measures, including two-factor authentication, and provides 24-hour customer support.
AlfaCoins: A Payment Processor with a Unique Fiat and Cryptocurrency Split Option
AlfaCoins is one of the best payment processors for Bitcoin, offering the unique feature of splitting payments between fiat and cryptocurrency.
This allows merchants to retain some Bitcoin from each transaction, hedging their bets without risking the entire amount.
With a lower transaction fee of 0.99% and no additional fees for installation or subscription, AlfaCoins is an attractive option. It can be used in any country except Iran and North Korea, enabling fund withdrawals in USD or Euro.
Shopify: A Trusted and Versatile Cryptocurrency Payment Gateway
Shopify is a trusted and widely used cryptocurrency payment gateway by thousands of merchants worldwide. Setting up Shopify is easy and provides robust customer service support for any assistance needed.
The platform offers a range of features, including APIs for integration with Coinbase and other payment gateways, making payment processing transparent and efficient.
One important consideration is that merchants must sign up for a Shopify merchant account to use the payment processing facility. Transaction fees vary depending on the chosen payment processor.
BitPay: A Convenient and Secure Bitcoin Payment Gateway
BitPay offers a unique feature that allows merchants to set withdrawal transaction speeds according to their preferences.
This is particularly useful for merchants who prefer withdrawals at specific intervals. BitPay also provides two-factor authentication for enhanced account security.
Setting up and operating BitPay is straightforward, making it a popular choice for less tech-savvy merchants.
The payment gateway offers a free cap of $1,000 worth of daily and $10,000 worth of annual transactions before levying a 1% transaction fee. However, it’s important to note that BitPay currently supports direct bank deposits in only 38 countries.
GoCoin: A Developer-Friendly Bitcoin Payment Gateway
GoCoin is highly regarded by developers worldwide due to its simple API. It offers various plugins, making it compatible with multiple online shopping platforms, including Shopify.
Customers appreciate GoCoin’s excellent customer service and payouts in USD, with a flat 1% fee on all transactions. It is supported in almost all countries, making it an accessible option for merchants globally.
BitcoinPay: The Cost-Effective Bitcoin Payment Gateway
For merchants looking for the cheapest transaction fees, BitcoinPay is a top choice.
With a fee of just 0.8% on all transactions, it is our list’s most affordable payment gateway. BitcoinPay also offers super-fast withdrawals, with funds received and available within seconds.
BitcoinPay supports payments to Bitcoin wallets, other e-wallets, and bank accounts, making it suitable for merchants serious about cryptocurrencies.
Additionally, the platform provides clear reports, facilitating easy review of completed transactions, which is particularly helpful for small business owners.
GoURL: Anonymity and WordPress Compatibility
GoURL is an excellent solution for accepting Bitcoin payments when a business enterprise doesn’t have a bank account. It works seamlessly with major Bitcoin wallets and is compatible with Bitcoin debit cards like BitPay’s, offering a high degree of anonymity, which appeals to many Bitcoin users.
The GoURL WordPress plugin is highly regarded, making it one of the best payment gateway plugins for the platform. The platform provides clear payment breakdowns, making order management straightforward.
Payments are received within 30 seconds of being transacted and are highly reliable. However, it’s important to note that GoURL does not offer direct bank transfers, and its fees are relatively high compared to other payment gateways.
SpicePay: Versatile Withdrawal Options for Bitcoin Payments
SpicePay stands out with its unique feature that enables merchants to withdraw Bitcoin payments via PayPal, debit cards, or standard bank transfers.
Merchants have the option to receive withdrawals in either USD or Euro, depending on their preferences.
While SpicePay lacks some helpful features offered by other payment gateways on this list, it is an excellent platform for businesses heavily reliant on PayPal.
Furthermore, with a flat rate of 1% on all transactions and a limited period of free transactions for new merchants, SpicePay offers flexibility and convenience.
Conclusion: Top Crypto and Bitcoin Payment Processors
In conclusion, choosing the right crypto and Bitcoin payment gateway is crucial for businesses looking to accept crypto payments for goods and services.
Each payment processor discussed in this guide offers unique features and benefits. Whether you prioritize low transaction fees, user-friendliness, versatility, or specific withdrawal options, there is a payment gateway suitable for your business needs.
Consider factors like supported cryptocurrencies, fiat currency conversion options, transaction fees, security measures, customer support, and integration capabilities with your existing systems.
By selecting the best crypto payment gateway, you can seamlessly accept crypto payments and expand your customer base in the growing world of digital currencies.