Looking for the top Cryptocurrency Payment Gateways for 2022? Well, you found the right place.
Read on if you intend to implement and want to know what each cryptocurrency payment gateway can do to grow your customerbase. Cryptocurrencies continue to be a thriving market with plenty of opportunities for traders and investors to profit.
cryptocurrency market is predicted to increase at a CAGR of 60.2 percent through 2025, according to a study conducted by Modor Intellegence.
WHAT IS A CRYPTOCURRENCY PAYMENT GATEWAY?
A cryptocurrency payment gateway enables merchants to accept Bitcoin as a digital currency payment. Most of these payment processors now allow the purchase and sale of several additional altcoins, including Ethereum, Litecoin, Stellar Lumens, and Bitcoin
The bitcoin market, as you are no doubt aware, is quite volatile. In December 2017, the price of bitcoin plunged 45 percent, from $20,000 to slightly under $6,000.
There have been multiple rapid spikes and dips in a handful of hours since then. Because of this volatility, businesses of all sizes must guarantee that any bitcoin payments are swiftly converted into fiat cash to minimize potential losses.
Payment processors enable the instant conversion of bitcoin and other altcoins into fiat cash. They enable businesses to automate these payments and offer a slew of other tools and reports to make the entire process as simple as possible.
WHY BUSINESSES SHOULD ACCEPT CRYPTOCURRENCIES?
Allowing clients to pay with bitcoin has a lot of advantages. The following are the primary reasons why retailers should consider including bitcoin in their payment option portfolio:
- Provide new payment options to existing clients.
- Gain access to new customers who choose to pay for goods and services using cryptocurrencies.
- To provide customers with a discrete payment method (no embarrassing credit card statements)
- Payments are secure and are kept on the blockchain ledger eternally.
- Lower the fees associated with other payment methods, such as credit cards, etc.
- To contribute to the bitcoin revolution
7 BEST CRYPTOCURRENCY PAYMENT GATEWAYS for 2022
BitPay is a quick and straightforward payment gateway to set up and use. The entire procedure has been simplified to make it as simple as possible for less tech-savvy merchants.
This bitcoin payment gateway has a free daily transaction ceiling of $1,000 and a yearly transaction cap of $10,000 before charging a 1% transaction fee. As a result, it is an ideal option for small businesses and startups. The only disadvantage is that
BitPay only accepts direct bank deposits in 38 countries at the moment. If yours does not make the cut, you will not be allowed to use it.
BitPay's flexibility to set withdrawal transaction speeds to whatever time range is desired is a truly cool feature. This function is extremely useful for merchants who require or prefer withdrawals to occur at regular intervals. Another useful feature is
two-factor authentication, which makes accounts even more secure.
COINQVEST is one of world’s leading Bitcoin and crypto payment processor and gateway. This crypto payment gateway offers digital currency checkouts that instantly convert Bitcoin and other cryptocurrencies to fiat, and then seamless transfers to a bank account
or crypto wallet. In addition, COINQVEST assists online retailers and e-commerce companies in accepting Bitcoin on their websites and settling payments in new digital currencies while remaining compliant and pleasing their accountants and tax authorities.
COINQVEST allows online merchants to denominate and settle sales in a national currency (e.g., EUR, USD, ARS, BRL, or NGN) regardless of whether their consumers pay in Bitcoin, Ethereum, or Stellar Lumens.
They also offer a merchant-based API that is creative and always improving with your business in mind. The hosted checkout is easy and functional for non-developers. Transactions are safe and automatic, and they include invoicing and a history. Funds are
instantly transferred into your account. Back-end analytics that are beautifully built fit your business demands.
COINQVEST integrates with the most popular e-commerce extensions and plugins, such as WooCommerce, Shopify, and Magento. Their platform enables merchange to create digital currency checkouts that automatically go from Bitcoin, Ethereum, and other blockchains
to the the merchants preferred bank account or crypto wallet.
Coinbase is the largest bitcoin exchange in the United States, as well as one of the largest cryptocurrency exchanges in the world. With such a massive user base, Coinbase has the resources to provide some wonderful services to help make its users' lives
Because the company is based in the United States, it is required to follow all currency exchange legislation in the United States. As a result, it is one of the most trustworthy exchanges, which is critical considering that the cryptocurrency business is
Coinbase can be used as both a payment gateway and a standard exchange. It enables rapid money conversion from Bitcoin to fiat currency without requiring the merchant to request a withdrawal. The exchange provides this service for free for the first $1 million
in transactions, after which Coinbase charges a 1% merchant fee.
Payments will clear to the merchant's bank account within 2 to 3 days, making it an excellent choice for enterprises of all sizes. The only disadvantage of Coinbase is that it only runs in a few countries around the world.
Coingate has a really user-friendly app that allows merchants to set up and monitor payments from their phones. It also has the added bonus that it supports some 40 other cryptocurrencies, meaning that merchants can massively boost the number of different
payment methods that they offer just by using this crypto payment gateway.
As if that wasn‘t enough to grab your interest, Coingate offers a range of different plugins and even allows for the creation of bitcoin payment buttons on any website. Coingate charge a 1% fee on all transactions, which usually take about 1 hour.
CoinsBank is a user friendly bitcoin payment processor that has a good reputation within the industry. It is available for mobile via its free to download apps for Android and iOS.
This great bitcoin gateway supports most of the major fiat currencies including USD, GBP, and EUR. The app includes a one click instant deposit and withdrawal feature which is handy for large volume traders. An added bonus is that Coinsbank allows for free
transfer of currency to family and friends 24/7. All transactions are made at the live market rates which gives users better control over their money. This feature is particularity useful for traders who stand to miss out if they are limited to open/close/mid
market rates only.
Finally, the platform offers the latest security including a two-factor authentication system that helps secure your wallet. There is a 24-hour customer support system should users need to resolve any problems.
GoCoin is a cryptocurrency payment gateway that seems to favor developers. This is due to the fact that it provides a very basic and easy API for them to use. GoCoin has a plethora of plugins that allow it to be utilized on a variety of online purchasing
sites, including Shopfy.
Customer support at this cryptocurrency payment gateway is well rated. It pays out in USD and levies a flat 1% fee on all transactions. It is supported in all but a few nations throughout the world, making it a viable choice for businesses worldwide.
BitcoinPay is one of the better known bitcoin payment gateways available for merchants trying to get the greatest deal on transaction costs. It charges only 0.8 percent on all transactions, making it the cheapest payment gateway on this list. Despite its
decreased costs, BitcoinPay still provides lightning-fast withdrawals, with monies processed and available in seconds. It accepts payments to bitcoin wallets and other e-wallets as well as bank accounts, making it an excellent choice for businesses who are
serious about cryptocurrency.
As an added advantage, BitcoinPay provides extremely clear reports that allow merchants to readily evaluate completed transactions. This feature would surely be appreciated by small business owners who must manually check transactions. BitcoinPay now provides
plugins for Magento, WooCommerce, OpenCart, PrestaShop, and a number of other e-commerce platforms.
The Gateway to Profits and Growth
One of the first steps in your growth journey will be to select a cryptocurrency payment gateway provider. Before making a hasty decision, do your homework on each one. While they may appear to be pretty similar at first glance, it's worth taking a closer
look to determine which of them provides the features best suited to your online business.
Use the information and recommendations in this article to guide you toward making the best option for your company. Please bookmark and share it for future reference.