The cryptocurrency payment market has hit $14 billion in 2021. There are a lot of businesses that already accept cryptocurrencies as payment assets, but most of them are online-based. If your company hasn’t started accepting bitcoin, ethereum, or other digital assets, you should consider hiring a company that provides you with a cryptocurrency payment gateway.
But what is a cryptocurrency payment gateway? To accept cryptocurrencies as a payment, you have to use a third-party company that will help you process, collect, sell, and buy cryptocurrencies. For example, if you want to use some kind of a bitcoin shopping cart on your website, you will need someone who will:
- Receive cryptocurrency payment directly from your website
- Process it somehow
- Sell it or convert it to fiat
The first item is more than possible by any individual who uses a crypto wallet, but to make the other two work, you will need a payment gateway that will help you process thousands and sometimes even millions of transactions that you wouldn’t like to deal with daily.
In addition to essential functions, you would like to have a good-looking and working solution for your clients to make them happy and make your business more attractive. These things would take too much time and money to make for every business separately. That’s why there are companies that make life easy for both merchants and customers by developing ready-to-use cryptocurrency payment gateways.
Choosing a cryptoprocessing company is a hard task that requires a lot of research, including a large amount of data comparison like fees, supported countries, additional solutions, etc. For that matter, we’ve compiled a list of the best and the most up-to-date Bitcoin payment gateways in 2021.
- Coinbase Payment Gateway
Coinbase is probably one of the most popular cryptocurrency exchanges out there, with a shocking $3.8 billion of the daily trading volume. But COINBASE is more than just an exchange. Their crypto payment gateway processes payments for vendors accepting Bitcoin and other cryptocurrencies, and allows merchants to set adjustable overpayment and underpayment thresholds.
Coinbase will become a great solution for you if you would like to accept crypto payments on a website that works for customers mostly based in the U.S. since the company is registered and mostly operating in the U.S.
- CoinsPaid Payment Processing
CoinsPaid is one of the best solutions for any online business looking to receive bitcoin as payment. CoinsPaid already serves more than 700 merchants and has seven years of experience in crypto processing. Their services might be the best solution for online businesses that specialize in gambling or trading since they are looking to offer additional functions in the future when they launch their decentralized financial solutions. In August 2021, the total number of processed operations exceeded 9.5 mln. Since January 2021, CoinsPaid has processed transactions worth 2.3 bln EUR.
Right now, CoinsPaid remains the number 1 service by the number of processed transactions for the gaming industry. According to their website, they also process 5% of all Bitcoin transactions by volume on the blockchain. In addition to the cryptocurrency payment gateway, their clients receive multiple solutions for their business: multi-currency wallets with built-in exchange and an OTC desk.
- Bitpay
If you are looking for a time-honored solution, Bitpay will be your choice. Bitpay is one of the oldest bitcoin processors that has been operating in the U.S. since 2011. Their bitcoin payment gateway can be easily deployed by your company through their open-source plugins or integrated solutions. Bitpay’s cryptocurrency payment gateway can be installed via easy-to-implement open-source plugins.
Bitpay is accepted by almost 40 countries, but unfortunately, it doesn’t include some of the biggest crypto markets out there, which may be a no-go for some users. To cover that drawback, there is a strong selling point for all Bitpay users: a credit card to bitcoin payment gateway. After you implement Bitpay’s crypto payment gateway, you will be able to issue their debit card as your main payment tool and receive money from the gateway directly to the wallet tied to that card.
- Coinpayments
Coinpayments remains one of the largest payment gateways by volume on the crypto market. The company offers easy solutions for eCommerce cryptocurrency plugins users. Right on the page of your plugin, you can choose Coinpayments as your main cryptoprocessing gateway.
Coinpayments functions in almost every county in the world and provides physical points of sale to businesses that have offline shops and selling points.
Coinpayment fees go as low as 0,5%, which might be a great selling point for a business that has any volume plus uses content management systems on their websites and is able to install the processing solution on their website.
- Coingate
Coingate is another major bitcoin payments processor that has more than 200,000 merchants who accept bitcoin. Coingate is working with the largest renowned companies all over the world. In addition to that, they offer prepaid crypto gift cards that you can implement into your business too.
Coingate is working with an industry-standard 1% fee. This fee includes SEPA transfers and bitcoin payouts fees. Coingate stores all of its assets on cold wallet storage that can’t be accessed through the internet and are only accessible by Coingate staff. Their current fee stays at 1% for all transactions within their network, and they also accept more than 50 cryptocurrencies, including the most popular ones, so that you won’t have problems with any clients.
To choose a great cryptocurrency payment gateway, you will need to spend a huge amount of time comparing many factors that you think are important for your business or company. But in the end, most of them provide similar service with good quality. For that matter, you should choose a company that is able to provide you with multiple solutions to make your experience smoother and help your customers to receive a greater service.
