What Is Bitcoin/Cryptocurrency Payment Gateways
Bitcoin and crypto payment processors and gateways are special-purpose payment receiving tools to process cryptocurrency payments.
Any merchant or vendor with these payment gateways can start receiving cryptocurrencies like BTC, LTC, or ETH for providing goods & services to its customers.
As cryptocurrency adoption is increasing many customers are using various cryptocurrencies for their payment needs.
This is happening throughout the world. Therefore merchants are compelled to find out solutions to accept such kind of payments. After all, who wants to lose business?
So these crypto payment processors help merchant receive, manage, and convert cryptocurrencies into fiat. Some processors don’t provide the facility to convert to fiat.
But just like your savings or current bank account you can any time take out your crypto payments to store in non-custodial crypto wallets. Many merchants are doing this because they believe in cryptocurrencies and its bright prospects.
If you are merchant here are some of the popular Bitcoin payment processors and gateways that you can use:
Best Bitcoin (BTC) & Crypto Payment Processor & Gateways For Merchants & Businesses
CoinPayments a pioneer in processing cryptocurrency payments as it is serving this space since 2013.
Using CoinPayments, you a get holistic solution for accepting 1400+ cryptocoins with buy now buttons, shopping carts, auto conversion features, etc.
Their Point-Of-Sale page can also be modified as per the needs of the business and merchant. Plus the team of developers is quite helpful in integrating crypto payments for your business.
Lastly, features like multi-coin support, instant confirmations, human-readable $PayByName, and fiat conversions make the life of business owners as well as customers.
OpenNode is a payment gateway designed to accept Bitcoin first. It is a relatively new entrant in this space and is backed by Tim Draper – a pioneer VC and Bitcoin believer.
The UI of OpenNode is very clean and is easily the surest means to accept Bitcoin for any day-to-day business that you run in any corner of the world.
There are no chargebacks, and you can even upgrade to Bitcoin Lightning Payments whenever you want. Of course, all this is not free, and OpenNode takes 1% of the total transactions processed in the pay-as-you-go model.
But the good thing is, initial payments worth of $10,000 are processed for free, and you can manage your Bitcoin payments easily using their mobile app.
Lastly, the feature to convert collected BTC in fiat is too available but I think on in USD, but in future, you can expect it to support more currencies.
GoUrl is another global cryptocurrency payment, solution provider. It is providing solutions to businesses and merchants since 2014 to accept cryptocurrencies safely.
By far, GoUrl has solutions for every type of business online or offline is seen as a global leader in processing crypto payments.
As of now, it has 18000+ merchants using GoUrl and support for more than 50 cryptocurrencies. Further, if the weather you want to keep your crypto in their wallet or want to convert it to fiat like USD or EUR, GoUrl supports both.
Bitpay is another pioneering company in the realm of Bitcoin and crypto payments. It is operating in this space since the early days of Bitcoin and is based out of the US.
You can accept Bitcoin payments via POS sales, on websites, or send emails of invoices all through one app of Bitpay. Also, Bitpay integrates with 40+ e-commerce platforms to make it super easy for online merchants to accept the currency of the internet- Bitcoin.
Also, for those merchants who don’t want the volatility of crypto can opt to instantly convert Bitcoin to fiat currencies directly into their bank account.
As of now, Bitpay facilitates bank deposits in 38 countries, settled in US Dollars, Euros, GBP, stablecoins and more with a standard 1% fee.
CoinGate prides itself on being a pioneer blockchain payment processing company. The brand is functional since 2014 and at a single place provides the option to buy/sell and accept cryptocurrencies.
Online and offline businesses can adopt cryptocurrencies quickly with the help of CoinGate and at the same time, satisfy the needs of their customers who want to pay in crypto.
With CoinGate you can accept payments in 50+ altcoins including Bitcoin and receive payout directly in your bank in USD or EUR.
SpicePay helps you accept BTC, LTC, ETH like cryptocurrencies for your business and gives a free wallet to integrate with your online or offline shop.
The company is based out of London, UK and serving the needs of the market since 2013. Using SpiecPay merchants in EU regions will be able to receive their payments in 24-hours against 72 hours of credit card processors. Also, withdrawals are available in USD, EUR, GBP or CAD or cryptocurrency, manually or automatically.
If the merchant wants to hold crypto, the payment receipt is instant. Apart from that, the fee charged for the exchange and processing is also 1% compared to 2-4% of the card processors.
If you are hardcore decentralization believer and don’t want to pay for processing Bitcoin transactions, BTCPay is for you.
BTCPay is an open-source project maintained by the Bitcoin community. It isn’t a company, and thus Bitcoin payments are processed with 0% where you always control your Bitcoin.
BTC pay has no third party servers and is a self-hosted crypto payment processor which is secure, private, free and censorship-resistant.
Lastly, I want to give my two cents advice to all the businesses and merchants who might use any of these processors.
Always, keep your cryptocurrencies in a self-hosted wallet like Ledger Nano X and periodically withdraw your earnings from your payment processor, if you wish to hold it in crypto.
And to those, who are directly converting each crypto payment into fiat, I would suggest strike balance and keep some in crypto too. This will help you take advantage of price appreciation too in the long run !!
If you have any questions regarding any of these processors, let us know in the comments section. If you are a crypto payments processor and want to get listed here, contact us at email@example.com for a sponsored listing.
Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.