As Elon Musk, CEO of Tesla tweets “You can now buy a Tesla with Bitcoin”, some would wonder how best to send over those precious coins for purchase. Here comes a crypto payment gateway. A Crypto payment gateway allows merchants to accept transactions in cryptocurrency. Nowadays, most payment processors facilitate the purchase and sale of many other altcoins like Ethereum, Litecoin, Ripple, and Bitcoin Cash too.
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There have been several sharp rises and declines in the price of crypto within hours. The volatility of this sort dictates that participating business enterprises ascertain that any payments received in bitcoin or any other cryptocurrency are quickly converted into fiat currency to avoid any potential losses.
Available payment processors facilitate the instant transfer of bitcoin and other altcoins into fiat currency. These automated payment processors provide a host of other functionalities and reports to help make the whole process as smooth as possible.
Reasons For Accepting Crypto As Payment
Crypto offers a number of benefits to merchants allowing payment with them. We enlist the main points in support of adding crypto to the merchant’s payment method portfolio:
• Open up new ways of payment for customers.
• Enable access to new customers preferring the use of crypto to pay for products and services
• Allow customers a discreet mode of payment
• Secure payments retained indefinitely on the blockchain ledger
• Lower cost than other payment methods such as credit cards etc.
The top 10 crypto payment gateways of 2021 are:
Billbitcoins is the largest crypto payment gateway across the globe with offices in the US, Australia, Singapore, and India. They offer a secure and robust platform for transferring payments and making bank settlements. With encrypted API for security, great exchange rates, and easy refunds this payment gateway is your first pick.
Coinbase is yet another US-based crypto payment base with a large customer base. Coinbase may be used as a payment gateway and a normal exchange facilitating instant currency conversion from crypto into fiat currency without the need for a merchant’s withdrawal request.
Coingate comes with a user-friendly app that allowing merchants to initiate and monitor payments from their hand-held devices. It offers the bonus support of some 40 other cryptocurrencies – the sheer number of different payment methods they can offer.
A user-friendly crypto payment processor with a good reputation within the industry; available mobile version, free to download apps for Android and iOS. As an added bonus Coinsbank allows for the round-the-clock free transfer of currency to family and friends.
This crypto payment gateway comes with the unique feature of a split-payment option enabling the pay to be divided between fiat and cryptocurrency. This works in favor of those merchants who wish to retain some amount of crypto from each transaction while monetizing the rest. This turns out a great option allowing them to hedge their bets in a calculated amount.
One of the most trusted crypto payment gates, it is can be installed with ease and ready customer service support at hand. The platform rich in good features, including APIs allowing integrations with other payment gateways that help make payment processing as easy and transparent as possible.
An easy and simple crypto payment gateway to install and operate, Bitpay has the whole process streamlined for less tech-savvy merchants.
Bitpay grants a free cap of $1,000 worth of daily transactions and $10,000 annual transactions before it levying a 1% transaction fee. This makes it an excellent choice for small businesses and startups.
Those merchants looking for the cheapest rate on transaction fees, BitcoinPay is definitely one to go for. It charges just 0.8% on all transactions making it the least expensive payment gateway on this list.
Despite having lower fees, BitcoinPay still offers super-fast withdrawals where funds are received and available in seconds. It supports payments to bitcoin wallets and other e-wallets along with to bank accounts, and so is a good option for those merchants who are serious about cryptocurrencies.
GoCoin is highly regarded by developers across the globe. This crypto payment gateway offers lots of plugins so it can be used on a number of online shopping platforms including Shopify.
GoCoin accumulates rave reviews for their customer service and offers payouts in USD charging a flat 1% fee on all transactions. They have support in most countries around the world making it an accessible option for merchants everywhere.
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Those wondering how to accept crypto as payment if your business enterprise doesn‘t have a bank account then GoURL is your choice. GoURL is linked with all the major bitcoin wallets and is also compatible with crypto debit cards like the one offered by BitPay. It also offers a high degree of anonymity, which is appealing to many users of cryptocurrency.