7 Best Cryptocurrency Payment Gateways for Online Merchants

Cryptocurrencies like Bitcoin are becoming more and more mainstream. So, there is an increased demand for businesses that accept them as payments. Cryptocurrency payment gateways are simple to set up and use and offer merchants several advantages over traditional credit card payment gateways.

Online merchants can profit from accepting cryptocurrency payments in several ways, including lower fees, better fraud prevention, and increased conversions. Merchants who want to accept cryptocurrency payments have a wide range of payment gateways from which to choose.

The seven best cryptocurrency payment gateways for online merchants include: 

• CoinGate
• BitPay
• BitPanda
• AlfaCoins
• SpicePay
• Shopify Gateway
• CoinsBank

Let’s explore these cryptocurrency payment gateways in detail.

1. CoinGate

Coingate is one of the most renowned cryptocurrency payment gateways because it allows you to accept payments in multiple currencies, including Bitcoin, Ethereum, Litecoin, and others. Plus, there are no setup or monthly fees. You only pay a low transaction fee. Coingate has a user-friendly interface and integrates with popular eCommerce platforms like WooCommerce and Shopify.

What makes CoinGate a trustworthy option for payment are its security features. It uses BitGo, which stores 98% of funds offline and keeps them safe from hacks. Also, every transaction goes through two-factor authentication (2FA) and an email confirmation before processing – just in case someone tries to make a chargeback after receiving their order.

All the security measures can be disabled at any time so that you can process transactions faster if need be. As well as being easy to use for your customers, CoinGate doesn’t require any personal information from them, making it perfect for privacy advocates who don’t want to share their data with third parties without consent.

Features:

• Account-Based Marketing
• Conversion Rate Optimization
• Customer Data Platform (CDP)
• Digital Analytics
• Email Marketing.

2. BitPay

BitPay is one of the best cryptocurrency payment gateway processors in the world. The company was founded in 2011 and is headquartered in Atlanta, Georgia. BitPay allows merchants to accept Bitcoin and other major cryptocurrencies as payment for goods and services. It also offers a prepaid Visa card that can be used to spend your cryptocurrency holdings anywhere that accepts Visa.

It comes with zero price volatility which facilitates conversion into fiat currencies, a low transaction fee (which is competitive compared to credit cards), and no chargebacks or fraud protection costs. The only downside is that customers must have a BitPay account to use this service.

Features:

• Easy setup
• Hosted checkout
• Embeddable invoices 
• Zero price volatility
• Quick bank settlement

3. BitPanda

BitPanda is a European-based exchange that offers a variety of payment methods, including SEPA, credit/debit card, Skrill, Neteller, and more. You can buy & sell Bitcoin, Litecoin, & other major cryptocurrencies on the platform. BitPanda also has a built-in wallet so that you can store your coins on the site. Overall, BitPanda is a great option for those looking for an easy-to-use platform to buy and sell cryptocurrencies.

BitPanda lets you stake popular coins like Ripple (XRP), IOTA (MIOTA), NEM (XEM), Stellar Lumens (XLM), and more through their Stellar Partners program. The company has a strict ID verification process, making it easy to withdraw your funds from the service if needed. All trades come with high-security features such as two-factor authentication, password protection, Touch ID or Face ID integration, and SSL encryption over HTTPS.

Features:

•  Easy-to-use platform
• Touch ID integration
• 2FA
• Password protection
• Built-in wallet

4. AlfaCoins

AlfaCoins is a popular cryptocurrency payment gateway that allows online merchants to accept Bitcoin, Litecoin, Ethereum, and other altcoins. It is easy to use and offers a variety of features, making it a great choice for online merchants. 

AlfaCoins does not offer the $1M in free transactions that Coinbase does. However, on the upside, AlfaCoins charges no additional fees to install the bitcoin payment system and is subscription-free. A further bonus is that AlfaCoins are usable everywhere except in Iran and North Korea. The currency of withdrawal can be either USD or EUR.

Features:

• API
• Payment button
• Shopping cart plugin
• Low fee (0.99%)
• No volatility risks

5. SpicePay

SpicePay is a Bitcoin payment processor that enables merchants to accept Bitcoin payments and receive payouts in either fiat currency or Bitcoin. It has low fees, is easy to use, and is available in over 190 countries. It is a great option for merchants who want to accept Bitcoin payments. SpicePay comes with secure and instant crypto payments, which are processed through its advanced algorithm with the most competitive rates on the market. 

There’s no risk of chargebacks, and fees are just up to 2% per transaction. Thanks to the merchant plugin, customers can purchase without leaving your site, which turns any website into an e-commerce site. With built-in fraud prevention, this service ensures only authorized transactions go through while being compliant with all banking regulations.

Features:

• Instant payments
• Wire transfer support
• PayPal support
• Bitcoin, Bitcoin Cash, Ethereum, and Litecoin Support
•  Android, Windows, and iOS compatible

6. Shopify Gateway

Shopify is one of the renowned online shopping platforms and now has its cryptocurrency payment gateway. The Shopify gateway allows you to accept payments in Bitcoin, Ethereum, Litecoin, and other major cryptocurrencies. You can also set up automatic conversions to receive payments in your local currency.

The Shopify gateway is easy to use and an excellent option for online merchants looking to accept cryptocurrency payments. Shopify is a notable player in cryptocurrency because it’s a trusted company with many satisfied customers. It also offers excellent customer service. Cryptocurrency exchange development services can integrate Shopify Gateway effectively on your website.

Features:

• Easy integration
• Detailed reporting
• Invoicing options
• Multiple payment options
• Fast processing speed

7. CoinsBank

CoinsBank allows you to accept payments in Bitcoin, Litecoin, Ethereum, and other major cryptocurrencies. It also offers merchant tools such as invoicing and point-of-sale apps. Overall, it’s an excellent option for online merchants who want to accept cryptocurrency payments.

The notable features include one-click integration with WooCommerce, Magento, PrestaShop, OpenCart, and others. It comes with instant settlements, no waiting for confirmations, zero deposit or withdrawal fees, low transaction fees, no daily limits on transactions, etc.

Features:

• Wallet availability
• Real-time conversions
• Low transaction fees
• Cryptocurrencies trading
• Mobile app

Final Words

It’s important to do detailed research before selecting visible cryptocurrency payment gateways. You’ll want to ensure the gateway is reputable and has a good track record. Checking reviews and talking to other businesses who have used the gateway can help you make an informed decision.

Cryptocurrency development companies help you set up all the necessary components, including conversion to fiat currency, so that all your transactions are seamless and straightforward.