The Top Five Cryptocurrency Payment Gateways in 2023 by Marcomega Geek Culture Feb, 2023

The Platform currently gains popularity by accepting Bitcoin, Ethereum, and over 100 other cryptos. It provides merchants additional cryptocurrency payment tools, such as API, invoices, donation widgets, buttons, and CMS plugins. NOWPayments is one of the most well-known names in the crypto payments industry.

As a merchant, you should look at your individual preferences and requirements when it comes to payment gateways. First of all, many crypto payment gateways have significantly cheaper transaction costs than traditional payment processors such as credit card firms. This is owing to the fact that digital currency transactions do not include any third-party middlemen, lowering merchant expenses dramatically. If you want to accept cryptocurrency payments, then these gateways can provide you with a variety of benefits.

Start accepting over 70 cryptocurrencies with the ability to convert to fiat. Whether you’re looking to save money on processing or to get approved for crypto payments api a merchant account, PaymentCloud can help. Most crypto transactions are final and irreversible, with no system in place for chargebacks or disputes.

Note that we are not able to provide private consultations, give advice, or answer questions. Finally, you’ll also want to familiarize yourself with custody issues and be sure you or a trusted party hold the security keys for your crypto. Financefeeds.com needs to review the security of your connection before proceeding. If you wanna see Binance pay in action, then head over to Travala.com where they have integrated Binance pay. Looking at its utility, I believe Binance pay will become a great Paypal alternative.

NowPayments – Best for Low Fees

Six confirmations before updating the merchant’s purchase for better security and protection against double spending. Refunds in bitcoins for partially or completely paid invoices paid directly to customer’s bitcoin address. BitPay is the earliest Platform for trading and accepting cryptocurrency payments. BitPay allows users to receive funds directly from their bank accounts. Binance Pay is a user-to-user crypto payment that is contactless, borderless, and secure. It has one of the best crypto payment gateway functionalities, allowing merchants to pay, send and accept online payments with no transaction fees.

• Many businesses are now beginning to accept crypto payments as a way to stay ahead of the curve and tap into new markets.
• Sila is an end-to-end payment platform that provides Banking-as-a-Service through a developer-friendly payment API that is scalable and allows for fast and secure money transfers.
• Also, businesses have a choice surrounding the transparency of transactions with public and private hybrid blockchain options.
• As of January 2022, this crypto payment gateway has more than 307,000 registered users.
• Supported eCommerce Platforms – It provides crypto plugins for platforms like WooCommerce, ZenCart, PrestaShop, Opencart, WHMCS, Magento 2, and others.
• DePay foreruns Web3 payments with the ability of Decentralized Finance .

This enables merchants to significantly increase their cross-border potential and reach a wider market. Whereas fiat-only businesses tend to service their local cohort, digital assets know no bounds. This is incredibly important not only for revenue generation, but for advertising opportunities as well. The only way to achieve such global coverage in traditional finance is to offer payments in over 200 local fiat currencies, which is simply unfeasible.

The 5 Most Popular Crypto Payment Gateway & Processors

Encryption is used to store and transfer cryptocurrency between wallets. The third-party processor you work with should comply with all regulations and security standards of the payment industry. Your customers need to make sure that their payments and withdrawals on your e-commerce platform are secure against fraud. A customer opens their crypto wallet and scans the QR code of the payment account on the merchant’s website.

The contract will then transfer the NFTs or tokens directly to the user’s wallet. We can interact with any smart contract as long as it is a payable function. We have been running for over two years and are live on Ethereum, Polygon and Tezos with some of our main partners being KnownOrigin, Mintable, Async.market and Rarible.

Conversion – Customers can pay with any crypto, NOWPayment automatically converts them into your preferred coins or fiat currency. Supported eCommerce Platforms – It provides crypto plugins for platforms like WooCommerce, ZenCart, PrestaShop, Opencart, WHMCS, Magento 2, and others. It has been an exciting week for the cryptocurrency and NFT industry. Many collections welcomed an influx of sales, transactions, buyers, and sellers.

How to Accept Crypto Payments With Binance Pay

It provides comprehensive features that allow you to sell products for bitcoins, earn money on file downloads, and enable direct payments between your eCommerce site users. It enables you to accept bitcoin payments using payment buttons, hosted checkouts, eCommerce plugins, and APIs. The best part is that it is truly compatible with every bitcoin wallet so that you can easily reach your customers across the globe. Support eCommerce platforms – It extends support to popular eCommerce platforms like WooCommerce, Magento, Prestashop, etc. With Coingate API, you can easily integrate and accept bitcoin payments in your eCommerce store. Utilizing Blockonomics, companies can convert BTC to any fiat currency, this way shielding themselves from price fluctuations.

With such a minimalistic service, you may be wondering why not just stay peer-to-peer? The main advantage comes from the number of eCommerce platforms NOWPayments can integrate with, including Shopify, Magento, and WooCommerce. This makes NOWPayments an easy and cost-effective way to take payments online. So, don’t forget to check your country code on this list before choosing Coinbase as a cryptocurrency payment processor. Also, check out the tutorial on CoinBase Commerce + WooCommerce Integration.

Network Fees

With CoinPayments, you can accept payments in 2100+ cryptocurrencies, including BTC, ETH, BNB, USDT, and many others. It also provides a multicurrency Wallet, where you can store all the crypto payments as long as you want or auto-transfer them to other wallets to keep your coins secured. NOWPayments is a non-custodial payment gateway that lets you accept payments in BTC, ETH, and 100+ other cryptocurrencies with auto coin conversion available. If you want to build a software product accepting crypto-based transactions or integrate a crypto payment gateway API into an existing app, contact our team. We will soon get back to you to collect project requirements and help address all issues. By providing crypto payments, a company can attract more customers, improve user engagement, and raise the conversion rate.

Depending on the payment processor you use, the transaction charge of this platform will differ. While most providers support conversion to US dollar currency, it does not automatically mean that the gateway is available for US merchants. CoinGate, for example, is only available for merchants within the state of Pennsylvania. Meanwhile, NOWPayments’ user agreement section 4.1 includes the United States of America among its list of prohibited jurisdictions. Make sure to check the provider’s website for this type of restriction beforehand. If you do not find your cryptocurrency platform on the list of direct integrations, you can also create a custom app using Shopify’s API, which can be installed on your Shopify store.

We Want Your Feedback

With a Cash App account, you can receive paychecks up to 2 days early. Get 3 free ATM withdrawals per month when you have at least $300 coming in each month. Whether you’re just getting started or already a pro, Cash App makes it easy to invest in stocks and bitcoin. Cash App uses advanced security features to protect millions of people and payments each year. From verification locks to data encryption, we take steps to make sure your money and information are safe. This platform supports more than 70 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.

All feedback, positive or negative, helps us to improve the way we help small businesses. And, of course, you’ll want to be sure you can get settlements in the fiat currency of your choice. The funds are then deposited into a merchant’s account for withdrawal or other purposes. One important thing to know, only users from Binance could pay for Binance Pay.

Top Crypto Payment Gateways

Whether your team works remotely or in-person, seamlessly share value & boost morale – digital, faster, cheaper. Why not offer employees the option to discover crypto in a secure environment? Manage your entire team’s experience from one convenient interface. Buy/deposit as much or as little crypto as necessary to drive team engagement. Invite team members to start rewarding, incentivizing in a matter of clicks. Users can track their portfolios; withdraw, swap, or spend; and even earn interest.

Transaction fees depend on the type of cryptocurrency and other factors. You can accept crypto everywhere, our different solutions adapt to your needs. The service has no set-up or monthly fees and charges only a 0,8% transaction commission. What is more, this percentage can be further shrunk by using the platform’s native token or https://xcritical.com/ participating in the Ambassador Program. Although many are already familiar with the basic advantages of digital assets, certain aspects make crypto especially attractive for businesses of different scales and industries. Conversion – It allows you to settle payments in your bank account within 48 hrs without price volatility.

Benefits Of Accepting Payment In Bitcoin & Crypto

Regardless of the chosen crypto solution, the proof is in the pudding – businesses are beginning to accept crypto at a record rate. According to the latest data, the global ownership rate in digital assets is already at 4.2%, with over 320 million crypto users worldwide. Thus, mass adoption is in full swing, prompting businesses to integrate crypto as a payment option.

Its auto-withdrawal feature transfers the cryptocurrency to your own wallet without any extra fees. This makes BitPay ideal for merchants who only want to accept payments for goods and services and avoid having to deal with currency fluctuation that can result in loss. Lower taxes—in comparison to common technologies like PayPal the taxes are lower.