Payment gateways for cryptocurrencies like Bitcoin make it possible for even the smallest of companies to accept cryptocurrency transactions. Through these payment processors, major retailers including Microsoft, AT&T, Overstock, and Amazon now accept Bitcoin payments.
The most reliable crypto payment gateway is those that let you easily accept payments from customers, regardless of their native currency, using a variety of settlement and transaction cost structures.
6 Top-Rated Cryptocurrency Payment Processors
1. BitHide
Payment gateways move cash from customers’ bank accounts to yours, making digital payments impossible without them. A cryptocurrency gateway is required to receive currencies.
Bitcoin and other cryptocurrencies may be accepted by clients using the BitHide crypto payment gateway. BitHide, thanks to its use of Dark Wing technology, is the premier cryptocurrency payment gateway and safe crypto wallet for keeping your crypto secure and immune to hacking attempts.
2. BitPay
BitPay is one of the first Bitcoin exchanges that also provide merchants with payment gateway services. Users like BitPay because of its user-friendly interface and flexible security and payment options. However, its volatility shield feature is what really sets it unique. Since BitPay freezes the exchange rate, consumers receive the exact amount they requested.
BitPay is ideal for businesses that wish to accept payments without losing money due to currency changes.
3. Coinbase
Coinbase Commerce is a merchant service offered by Coinbase that facilitates the acceptance of cryptocurrencies. Coinbase serves a wide variety of cryptocurrencies as the biggest centralized cryptocurrency exchange market in the United States. This implies that locally owned and operated businesses may broaden their acceptance of cryptocurrencies. Because of the size of the cryptocurrency exchange industry, Coinbase can protect merchant money if they want to have their accounts managed by Coinbase.
4. CoinGate
CoinGate is a digital asset exchange that streamlines the process of accepting Bitcoin payments for merchants. Because it works in over a hundred different countries and with over 70 different cryptocurrencies, it is the best-of-breed worldwide solution for retailers.
Its fixed processing fee makes Bitcoin and cryptocurrency payment processing inexpensive. Cryptocurrency-accepting firms are also developing mobile point-of-sale software. Customer service makes CoinGate popular.
5. PayPal
The cryptocurrency balance in a user’s PayPal wallet may be used for trading and purchasing. Any PayPal-accepting merchant may accept cryptocurrencies at checkout, regardless of whether the merchant has a dedicated PayPal cryptocurrency account. PayPal does not add any costs for receiving payments in cryptocurrency, and there are no fees for receiving payments in fiat money. In addition, businesses that accept these payments have their purchases and customers’ identities protected from fraudulent activity around the clock.
6. Shopify
Although not a cryptocurrency platform, Shopify is often regarded as the best option for establishing a successful online storefront. Best-in-class omnichannel capabilities are included in addition to a native website builder and e-commerce automation tools. Many other payment channels, including the most popular cryptocurrency exchanges, are compatible with Shopify.
This is the ideal choice for retailers with a Shopify merchant account since its commission costs are waived when you sign up for a Shopify Payments plan.
Benefits of Accepting Cryptocurrencies as Payment for Startups
No Up Front Payment
One of the biggest benefits of accepting cryptocurrency payments is that you don’t need to wait for a check to clear. When you receive a payment, it’s immediately deposited into your digital wallet and ready for use. There are no more waiting days or weeks while funds are held by traditional financial institutions.
This can be especially useful if you’re selling something online as I do with my website. When someone pays me through Bitcoin or another cryptocurrency, I get paid immediately–and there’s no risk of them changing their mind after paying!
You also don’t need to worry about chargebacks with cryptocurrencies because they aren’t reversible like credit card purchases are (in most cases). Your customer will still have access to those funds even if they decide not to use them; however, this does mean that there may be fewer fraudulent purchases made using crypto than traditional payment methods such as credit cards or PayPal since there isn’t any way for someone else besides yourself access those funds when they’ve been deposited into your wallet address on an exchange platform like Coinbase or Binance.
Instant Settlement
Settling payments is instant. There’s no need to wait for a bank transfer or credit card payment to clear, which can take days or even weeks in some cases. Cryptocurrencies are digital, so there are no physical goods to ship and no chargebacks from customers who don’t receive their products or services as expected.
Lower Fees
The first benefit of accepting cryptocurrencies as payment for your startup is lower fees.
Cryptocurrency payments are non-reversible, meaning that there are no chargebacks and you don’t have to worry about your customer claiming they didn’t receive their product or service. This also means that you don’t need to pay any additional fees associated with processing payments through a credit card processor like Stripe or PayPal.
Easier International Payments
- The ability to accept cryptocurrencies as payment is a great way for startups to expand their customer base.
- The process of accepting cryptocurrencies is simple, and there are many companies that provide this service for you.
- The benefits of accepting cryptocurrency include: no need to exchange currencies; no need to go through a bank or other financial institution in order to convert currencies; no need for your customers’ money to go through multiple banks when sending payments internationally (which often results in fees); can be used in any country
Takeaway
The takeaway from this article is that cryptocurrencies are the future of money. As such, it’s important for businesses to be aware of their benefits and risks.
If you are a startup and want your business to stand out from the crowd, accepting cryptocurrencies as payment can help achieve this goal. However, before doing so, it is critical that you understand what they are and how they work so that you don’t get scammed by people who are looking to take advantage of other people’s ignorance about these new forms of currency!
