Small companies are able to accept cryptocurrencies (like Bitcoin) as a form of payment thanks to cryptocurrency payment gateways. Through these payment gateways, well-known brands in business including Microsoft, AT&T, Overstock, and Amazon have been taking cryptocurrencies as a form of payment.
The finest gateways provide currency conversion, various options for settlement, low transaction fees, and ease of integration with already-existing websites or online stores. The top cryptocurrency payment gateways are:
- Bitpay
- Coinbase Commerse
- Shopify
- Paypal
- ALFAcoins
Bitpay
One of the first platforms to provide both cryptocurrency trading and merchant payment gateways is BitPay. Users use BitPay because of its user-friendly platform and adjustable security and payout options. Its volatility shield feature is what distinguishes it, though. Users receive the precise amount they requested transferred into their account since BitPay fixes the exchange rate in effect at the time of the transaction.
BitPay is therefore perfect for businesses who merely wish to take payments for goods and services and stay away from dealing with currency fluctuations that could lead to financial loss.
With BitPay, you can build hosted checkouts, set up payment and contribution buttons, and make invoices that you can embed on your website. Even recurring invoicing can be set up for clients who purchase subscriptions. If you want to offer clients a bitcoin payment method at the register with the BitPay checkout app, it also offers a mobile point-of-sale (POS) feature. Daily payouts are handled, and you may keep track of them in your BitPay dashboard.
Coinbase Commerce
A part of Coinbase’s merchant services called Coinbase Commerce enables small businesses to accept cryptocurrency as a different form of payment. Coinbase serves a wide range of cryptocurrencies as the largest controlled exchange market in the US. As a result, more bitcoin types can now be accepted as payment by clients by small businesses. Due to the size of the exchange market, Coinbase may also guarantee merchant funds provided the merchant allows Coinbase to handle their account.
Depending on the size of your business, Coinbase gives you a variety of alternatives for accepting payments via your website. Small business owners may make easy hosted checkouts, invoices, and Coinbase payment buttons. Additionally, it offers APIs for more flexible payment processing. Coinbase may be linked with Shopify and WooCommerce for e-commerce sites.
Coinbase does not, however, enable mobile POS capability, in contrast to BitPay. It also provides fewer possibilities for integrating ecommerce platforms.
PayPal
With the addition of a cryptocurrency wallet to PayPal, users may now trade and make purchases with their cryptocurrency holdings. PayPal users who have cryptocurrency accounts or not can provide bitcoin checkout as an additional PayPal payment option. Both accepting bitcoin payments and PayPal’s conversion to fiat money are free of additional expenses. Additionally, businesses who accept these transactions receive 24/7 fraud protection as well as purchase protection for approved items.
Customers with a significant amount of PayPal cryptocurrency in their wallet will automatically see the Checkout with Crypto option. Their cryptocurrency holdings will be free of charge converted into fiat money at the time of payment in an amount equal to the outstanding transaction balance.
Shopify
Although Shopify is not a cryptocurrency platform like PayPal, the majority of online merchants regard it as the industry standard for creating an ecommerce company. Along with the best-in-class omnichannel functionality, it includes native website building tools and ecommerce automation solutions. Shopify is also capable of integrating numerous third-party payment processors, including the most popular bitcoin exchanges.
It is the greatest choice for retailers that already have a Shopify merchant account because it waives its commission fees if you enroll in a Shopify Payments plan.
You may accept bitcoin payments with Shopify just like any other extra payment option. Your clients will be familiar with cryptocurrency payment gateways that accept their particular coin kind, and if you provide one as a payment method, they may quickly select it when checking out. When the transaction is over, they will return to your store after being sent to the website of the cryptocurrency platform.
ALFAcoins
The best choice for registered nonprofits in our collection is ALFAcoins, which rounds off our list. Nonprofit groups can get in touch with ALFAcoins to receive cryptocurrency donations for free, while merchants can accept donations with a 0.5% transaction fee. Additionally, there are no costs for withdrawals (except for network fees levied by the blockchain network).
But keep in mind that ALFAcoins doesn’t presently offer currency conversion (neither for fiat currency nor other cryptocurrency types). This implies that it cannot deposit money into your bank account either.
Users of ALFAcoins have access to a step-by-step tutorial for building shopping cart plugins, invoices, and payment buttons. Additionally, a variety of APIs are supported for a more specialized design. You can modify the integration option in the merchant part of your ALFAcoins dashboard, including the cryptocurrency kinds you like to receive and the appearance of the payment button on your website.