The cryptocurrency market is growing at an unprecedented rate. According to the latest data, there are more than 5,300 types of cryptocurrencies currently traded on the market. The market has a total market cap of more than 200 million dollars. According to market research, the global bitcoin payment ecosystem will reach 630 million US Dollars by 2025. This growth rate is double-digital and is expected to continue between 2020-2025. Let’s take a closer look at the top cryptocurrency payment gateways on the market.
We will try to understand how these cryptocurrency payment options compete for better services. We will also identify the characteristics that make a cryptocurrency payment platform worthy of the title of best crypto payment processor.
Top 10 Cryptocurrency Payment Gateways
Here’s a list of top cryptocurrency payment gateways that accept Bitcoin or altcoins for payment. Other than Bitcoin payment processing, Some of the most important currencies that These crypto payment processors are able to help merchants accept are Ethereum, Ripple, and Litecoin.
Coinbase is one of the most popular crypto payment processors and is a popular way to conduct Bitcoin business transactions. You can download the Coinbase app for merchants to receive instant crypto payments. Coinbase’s fast crypto-to-fiat payment conversion makes it one payment gateway that provides high security against price volatility. Coinbase is compatible with nearly all the most popular eCommerce CMS platforms. Coinbase is used most often by countries in Europe with high-value markets like Spain, Italy, and the Netherlands. The fees for Coinbase start at 0,5% and a flat fee.
NOWPayments is a top-ranked company in the crypto payment space. It is well-known for its low-cost, non-custodial, and easy-to-implement solutions. It allows businesses to accept more than 100 cryptocurrencies. The API is easy-to-use and there are many crypto plugins available. NOWPayments was launched in 2019. It also provides fiat conversion, a PoS option, and a mass payment feature. The NOWPayments gateway can be used with popular eCommerce CMS platforms like WooCommerce or OpenCart. If necessary, the maximum fee is 1% (0.5% per transaction) and 0.5% per auto-exchange.
Blockonomics is a well-known cryptocurrency payment processor. It is anonymous and doesn’t require any third-party authentication Additional API integration is available to facilitate transactions. It is extremely innovative and secure to pay. To pay cryptocurrency, one needs to scan the QR code on the merchant’s website or in digital wallets. Blockonomics is integrated with Shapeshift, which allows for a wide range of cryptocurrency support. There is a 1% charge for the platform. Blockonomics is popular in large economies like the United States, France, Canada, the UK, and Germany.
Coingate is also a contender for the position of best crypto payment gateway in 2021. This crypto payment gateway allows merchants to use Bitcoin or altcoins for business transactions and also accepts payments in USD, Euro, and other traditional currencies. It provides plugins to eCommerce platforms. Coingate merchants can accept other cryptocurrencies than Bitcoin through the integration with Shapeshift. For multiple transactions, Coingate charges only 1% transaction fees. Coingate is used by many countries, including Japan, Brazil, Belgium, and Japan.
Blockchain.info, often confused with its eponymous technology platform is one of the oldest crypto payment gateways. Blockchain.info is a well-known cryptocurrency wallet. However, it also offers repository services for Bitcoin and Blockchain technology. These services include information about Blockchain, news, and statistical reports. Businesses can integrate the APIs offered by Blockchain.info with great ease. But, it is important to remember that Blockchain.info integration requires basic programming knowledge.
Spectrocoin is the number one charting company for two basic reasons. It is free to use. It allows for instant funds exchange, which is a second plus important feature. Combining these two features makes Spectrocoins a popular gateway in developed countries such as France, Australia, France, and Italy. Spectrocoin is compatible with nearly all popular eCommerce CMS platforms, such as Magento, OpenCart and VirtueMart, WooCommerce, etc.
To make transactions and purchases in Bitcoins or other currencies, one can integrate SpectroCoin APIs into their website. Spectrocoin also offers a Bitcoin Debit Card. Spectrocoin charges a transaction fee of 1% for multiple transactions. Its crypto-fiat conversion capabilities at the user’s end allow it to pay fiat currency to the sellers.
CoinPayments transaction fees start at 0.5% CoinPayments gateway supports a variety of cryptocurrencies. Over 1200 cryptocurrencies are supported. The gateway not only allows you to accept these currencies but also offers crypto to fiat conversion options for each one. CoinPayments allows integration with most of the popular e-commerce platforms such as Shopify, OSCommerce and Magento, and WooCommerce.
Bitpay is a long-lasting cryptocurrency payment gateway that was launched in 2011. You can download the Bitpay App and accept online payments and transactions. The fees start at 1%. Bitpay Debit Cards are available for crypto-to-fiat transactions. The Bitpay gateway also has open-source eCommerce plugins.
Bitpay’s API-based platform makes it extremely interactive for users. It also provides two-factor authentication to enhance security. Bitpay offers multi-user support and multilingual support for over forty languages. Bitpay has been a trusted partner to some of the world’s most respected businesses, including Amazon, Master Card, and Delta. Bol.com is just one example. Bitpay is a popular crypto payment processor that allows for the use of cryptocurrencies in transactions such as those between the United States, United Kingdom, and Canada.
Also read: 15 Mobile Payment Apps for Business
It takes only minutes to set up Plisio as your crypto payment gateway. It works well with many eCommerce CMS platforms like Opencart, WHMCS, VirtueMart, WooCommerce, etc. Plisio is able to offer custom solutions for businesses, and its APIs make integration easy and flexible. Plisio’s payment gateway charges 0.5%, which is among the lowest-cost providers on the market. Plisio also offers a mass payout feature.
It is a highly respected crypto gateway service for both merchants as well as users.PayWALA’s most attractive feature is its ability to receive payment in Euro or any other fiat money.PayWALA’s online invoice software makes it easy for merchants to accept cryptocurrency payments online. The Walahala card allows one to instantly withdraw crypto assets. This gateway is very popular in 26 European countries, including Austria, Belgium France, Germany, and Switzerland.
Conclusion – Top cryptocurrency payment gateways
An in-depth analysis of the 10 cryptocurrency payment gateways mentioned above will give us insight into the characteristics that make a crypto payment gateway stand out from the rest. It offers low fees and ease of integration for sellers and merchants, as well as a broad range of functionalities.