In today’s world of digital currencies, such as Bitcoin and more, a basic understanding of payment gateways is still appreciated.
Well, this blog has a list of the 10 best Bitcoin payment gateways that we have right now.
Table of Contents
- Why do we really need payment gateways?
- What is Bitcoin?
- What is a Bitcoin payment gateway?
- The best bitcoin payment gateways for 2021
- Frequently Asked Questions
Why do we really need payment gateways?
In the past, all miscellaneous cash transfers took a long time to be credited to the user’s account. As a result, bulk orders are only processed after a long time.
But now everything can be done much faster than traditional methods. Crypto software is the ultimate solution for all cryptocurrency services.
Payment gateway systems have made it all easier by acting as the ideal platform for network transactions. It is also very secure with higher authentication factors.
What is Bitcoin?
Bitcoin is simply a digital currency that can be used for online transactions. These digital currencies are collectively referred to as cryptocurrencies. Some of the well-known cryptocurrencies we have today, such as Bitcoin, Ethereum, etc.
Bitcoins are encrypted and secured using Blockchain technology and operate in a fully decentralized format.
Decentralization means that no third party is involved in monitoring transactions; it is based on computer algorithms and is safer and more reliable!
What is a Bitcoin payment gateway?
Bitcoin Payment Gateway is an online transactional platform that allows various businesses to accept or receive Bitcoin payments.
Almost all of the significant payment processors support the buying and selling of Bitcoin or other cryptocurrencies. Since the bitcoin market is volatile, it is generally advisable to liquidate the money as soon as possible.
Benefits of accepting Bitcoin payments
There are several benefits for business owners to add a Bitcoin payment method to a business and are discussed below:
- The processing fees are much lower than those for other payment methods and are generally charged to customers.
- People worldwide can try to integrate their business with Bitcoin payment methods to cope with the complexity of conventional currency trading and the associated high fees.
- Provides a new option for existing customers to pay for purchased goods and services.
- Bitcoin no longer charges for additional subscriptions, which is not the case with conventional payment processing methods.
- Some of the traditional payments limit the maximum number of transactions that can be made each day or each month. Bitcoins do not need to comply with such formalities.
- Since all payment transactions are stored in the Blockchain ledger, the chances of being compromised are meagre.
- The confirmation of the transaction will be done in less time compared to traditional methods.
- They are extremely safe because they are all made using Blockchain technology, and they also have excellent computing power, which supports Bitcoin storage.
The best bitcoin payment gateways for 2021
Coinbase is the best Bitcoin payment gateways and largest bitcoin exchange in the United States, and it is also one of the largest cryptocurrency exchanges in the world. With such a vast number of users, Coinbase has the resources to develop unique features that make life easier.
The company is headquartered in the United States and must comply with all United States currency exchange laws. For this reason, it is among the most reliable exchanges, which is very important given that the cryptocurrency market remains largely unregulated.
Coinbase can be used as a payment entrance and as a regular exchange. It allows instant conversion of currency from Bitcoin to fiat currency without the merchant needing to request a withdrawal.
The exchange offers this service completely free on the first million dollars of transactions, after which Coinbase subsequently charges a 1% trading fee.
Payments will be made to the merchant’s bank account within the typical 2-3 days, making this an excellent option for businesses of all sizes.
The only downside to Coinbase is that it only works in a limited number of countries around the globe. For more info, you can click this link to visit their website.
Coingate has a straightforward app that allows merchants to set up and monitor payments from their phones.
It also has the added benefit of supporting 40 other cryptocurrencies, which means that merchants can dramatically increase the number of different payment methods they offer just by using this crypto payment gateway.
As if that wasn’t enough to get their interest, Coingate offers several different add-ons and even lets you create Bitcoin payment buttons on any website. Coingate charges a 1% fee for all transactions, which typically takes around 1 hour.
This excellent Bitcoin gateway supports most of the major fiat currencies, including USD, GBP, and EUR. The app includes current deposit and one-click payout functionality, which is helpful for large merchants.
A bonus is that Coinsbank allows free currency transfers to family and friends 24 hours a day, seven days a week.
All transactions are done at market prices, which gives users better control over their money. This feature is handy for traders who lose if they limit themselves to open / closed / mid-market rates.
Finally, the platform offers the latest security information, including a two-factor authentication system that helps protect your wallet.
There is a 24-hour customer support system in case customers need to resolve the issue.
Without a doubt, one of the best Bitcoin payment gateways, AlfaCoins, has a unique feature of offering payments that can be split between fiat money and cryptocurrency.
For traders who want to keep a certain amount of bitcoin from each trade to take advantage of price increases, this is an excellent option as it allows them to bet without risking the total amount.
Although AlfaCoins has a slightly lower transaction fee of 0.99%, it does not offer the $ 1 million free transactions provided by Coinbase.
However, AlfaCoins does not charge a higher fee for installing a Bitcoin payment system, and it is also free. An added benefit is that AlfaCoins can be used in any country except Iran and North Korea. Allows you to withdraw funds in USD or Euros.
Shopify is one of the best and most trusted cryptocurrency payment gateways in the world. As a result, it is already used by thousands of traders around the globe to facilitate bitcoin payments.
It’s straightforward to set up and has plenty of customer support services in case you need help. The platform is packed with great features, including APIs that enable integration with Coinbase and other payment gateways that help process payments as quickly and transparently as possible.
The only downside to Shopify is that merchants have to log into Shopify’s merchant account to use the payment processing feature.
Transaction fees vary depending on the payment processor chosen by the merchant.
An outstanding feature offered by BitPay is the ability to set transaction withdrawal speeds for any required period. This feature is handy for traders who need or prefer to withdraw money at specific intervals. Two-factor authentication is another great feature that makes accounts even more secure.
BitPay is simple and easy to set up and use payment entry. The entire process has been streamlined to make it easier for traders with less technology.
This bitcoin payment gateway offers a free limit of $ 1,000 in daily transactions and $ 10,000 in annual transactions before charging a 1% transaction fee.
This enables it a great choice for small businesses and startups. The only downside is that BitPay currently only supports direct bank deposits in 38 countries. If yours isn’t lucky enough to appear on the list, you won’t be able to use it.
Developers around the world love GoCoin. Indeed, it offers them a straightforward and immediate API to use. GoCoin offers plenty of plugins for use on a variety of online shopping platforms, including Shopify.
This cryptocurrency payment gateway gets rave reviews for its customer service. It offers payments in USD and charges a flat fee of 1% for all transactions.
It’s supported in almost every country worldwide, making it an affordable option for retailers around the world.
For merchants who want to try out the lowest transaction fee price, BitcoinPay is definitely one of the best Bitcoin payment gateways. It only charges 0.8% of all transactions, making it the cheapest gateway on this list.
Despite lower fees, BitcoinPay (confirmo.net) still offers super-fast payments where funds are received and available within seconds. It supports payments on Bitcoin and other electronic wallets and bank accounts, making it a good option for traders who are serious about cryptocurrencies.
As a bonus, BitcoinPay also offers evident reports that help traders quickly review completed transactions. This feature will be welcomed by small business owners who need to verify transactions manually.
BitcoinPay currently provides add-ons to Magento, WooCommerce, OpenCart, PrestaShop, and various other shopping platforms.
If you are thinking about accepting Bitcoin when your business does not have a bank account, GoURL is an excellent solution.
GoURL works with all significant Bitcoin wallets and is even compatible with Bitcoin debit cards like BitPay. As a result, it provides a high degree of anonymity, which many Bitcoin users like.
Its WordPress plugin is highly regarded, which has helped it rank among the best gateway plugins for this platform. The GoURL platform offers a clear breakdown of payments that makes it easier to manage orders.
Payments are received within 30 seconds of the transaction and are incredibly reliable. Another cool feature of this platform is that it allows merchants to set up one-click payments on their websites using Monetiser Online.
Unfortunately, GoURL has some drawbacks as a payment gateway. First of all, the platform does not offer direct bank transfers, which will undoubtedly frustrate some companies. Second, the fees are high compared to other candidates on this list.
GoURL charges a fee of 1.5% for all payments made through the website and 3.5% for using Monetiser Online. Since these prices are comparable to the credit card fees businesses have to pay, a merchant is unlikely to choose GoURL to save money.
The unique selling feature of SpicePay is that it allows merchants to withdraw their bitcoin payments through PayPal and even debit cards, with a standard wire transfer. Money payment can be made in US dollars or euros, depending on the merchant’s wishes.
Payments in euros are slower than some faster changes and take up to 24 hours. SpicePay charges a flat rate of 1% on all transactions, although new merchants receive free transactions for a limited time.
Overall, SpicePay wouldn’t be my first payment gateway as it lacks some useful features that others on this list have owned. However, if your business relies heavily on PayPal, this is definitely a great platform to consider.
Frequently Asked Questions
What is a Bitcoin Gateway?
The Bitcoin Gateway allows merchants to accept Bitcoin payments from their customers.
How do I integrate a Bitcoin gateway into my application?
There are many approaches to integrating the best Bitcoin payment gateways into an application. Many retailers rely on third-party Bitcoin Gateway APIs, while others are developing their unique software.
What is a good API for Bitcoin Gateway?
There are many exciting APIs for the Bitcoin Gateway. BitPay.com and CoinGate are just two examples.