As the popularity of cryptocurrencies develops, more and more online merchants and platforms are considering accepting cryptocurrency payments. Crypto processing services make it easier to solve this problem by providing a variety of payment options. As a result, we invite you to think about the finest options for accepting cryptocurrency in your online business.
The growing popularity of cryptocurrencies is attracting an increasing number of merchants.
There are numerous payment options; installing a plugin is one of the simplest ways to accept cryptocurrency in a WooCommerce store.
NOWPayments, Coingate, CoinPayments, and many others are among the best crypto payment services.
Why do people choose to pay with crypto?
Only ten years ago, the cryptocurrency was mocked, and nearly no one expected it to have a good future. Some people caught up in the hoopla bought a few inexpensive Bitcoins just for fun. After a while, some of these individuals became millionaires, causing a great uproar about digital assets. As other cryptocurrency projects arose over time, some developers, hungry for success, established Bitcoin forks, which were supposed to mitigate the latter’s flaws. Other than Bitcoin, some have developed novel ideas, such as Ethereum and its smart contracts. The number of cryptocurrencies and their popularity has increased year after year.
Cryptocurrency is no longer just a fad (though it is one), but one of the most important aspects of the global economy. Cryptocurrency is used by over 300 million people all over the world. Furthermore, more than 18,000 businesses around the world accept cryptocurrency as payment. Microsoft, Dell, AirBaltic, Wikipedia, and even PornHub are among the most well-known companies on the list. What is it about cryptocurrencies that makes them so popular? There are numerous explanations for this. Here are a few examples:
Freedom
Cryptocurrency is decentwaralized and operates on a peer-to-peer basis, with no central authority.
Low fees
Fees are greatly reduced, and often none, because there are no intermediaries in the form of banks and other authorities.
Speed
You may receive payments from anywhere in the world in a matter of seconds using cryptocurrencies. Furthermore, there is no risk of the payment being frozen.
There will be no chargebacks.
Chargeback fraud is impossible since blockchain transactions are irreversible.
Safety
There is no need for the parties to input any personal information that could be used by fraudsters.
And this is only one of the advantages of using cryptocurrency to make payments. Not to mention the cryptocurrency investment prospects. Bitcoin’s value has risen from $100 to almost $40,000 in the last eight years. Profits of this magnitude have provided tech-savvy retailers with incredible chances to grow and develop their enterprises. Those merchants that were previously hesitant to accept cryptocurrency payments scrambled to find solutions. And there are so many of them now that it makes one’s head spin. As a result, we recommend that you research the best crypto payment gateways available.
Best 10 crypto gateway WordPress plugins
1. NowPayments
NOWPayments is one of the most well-known and reliable cryptocurrency payment processors on the market. Users can receive payments and donations as well as make bulk payments using the service’s numerous payment capabilities. More than 100 coins are supported by the platform. With modest costs that start as 0.4 percent, NOWPayments stands out among competitors. In addition, the service allows for fiat currency processing. The platform’s non-custodial character is one of its key features; payments are transmitted directly to the recipient’s wallet. The platform staff is always ready to assist with a customized solution, in addition to invoicing, APIs, plugins, and other tools.
2. Coingate
Coingate is a strong candidate for the title of best cryptocurrency payment gateway. Coingate, which was founded in Vilnius in 2014, stands out among competitors since it accepts payments in BTC and other cryptocurrencies as well as traditional fiat currencies like US dollars and euros. Around 70 cryptocurrencies are supported by Coingate. The transaction cost is 1%, which is comparable to the market average. Coingate merchants can withdraw cryptocurrencies and have them instantly converted to their bank accounts, as well as convert one cryptocurrency to another. The service is custodial, which is one of the downsides.
3. Coinbase Commerce
Merchants can accept payments in seven cryptocurrencies through the Coinbase Commerce crypto payment gateway: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, USD Coin, Dogecoin, and DAI. Coinbase Commerce makes use of Coinbase’s well-developed commerce and payment infrastructure. As a result, customers may simply transfer funds to Coinbase crypto exchange accounts, trade digital assets for other crypto or fiat currencies, and use custodial services to store cryptocurrency, among other things. Unlike other crypto-processing services, Coinbase Commerce does not charge a commission for transaction processing. Withdrawals are still subject to costs: 1% for conversion to fiat and withdrawal to the Coinbase Pro exchange account, or network fees (depending on the cryptocurrency) for withdrawal to a third-party wallet.
4. Coinpayments
CoinPayments is a veteran of the crypto-processing industry. CoinPayments is a cryptocurrency payment gateway as well as an online wallet that allows users to purchase and sell bitcoins. The primary distinctions between CoinPayments and competitors are a cheap transaction charge (from 0.5 percent to 1 percent on average) and support for over 175 digital assets for payments. Merchants can also swap one cryptocurrency for another within their own accounts. This is a really useful tool for receiving payments in hundreds of various cryptocurrencies, which are then more profitable to trade for the widely used Bitcoin and then withdraw to a third-party account to be exchanged for cash. Furthermore, there is no charge for the first $15,000 per month.
5. Plisio
Plisio is another well-known crypto payment gateway. Both cryptocurrencies and fiat currencies are accepted by the service. Plisio currently supports eight of the most popular cryptocurrencies (Bitcoin, Ethereum, Litecoin, Dash, Dogecoin, Zcash, Bitcoin Cash, and Monero). Furthermore, a merchant can simply convert acquired cryptocurrency into more than 160 fiat currencies using Plisio. APIs, invoices, plugins, and mass payouts are among the payment tools available on the platform. Plisio conforms to the White Lab principle, which means that when a customer makes a payment, they do not leave your website. The crypto payment gateway’s costs — 0.5 percent — are competitive.
6. B2BINPAY
All prominent cryptocurrencies and stablecoins are supported by this payment service. Payments can be made with a total of 19 different cryptocurrencies. In addition to being available anywhere in the world, the service offers the lowest commissions on the market, which may reduce based on demand. The lesser the commission, the greater the amount. Coin commissions, for example, start at 0.5 percent and decline to 0.35 percent. Tokens are the same way. Stablecoins, on the other hand, will cost you anywhere from 1% to 0.85%. B2BinPay, like the rest of the platform’s features, allows users to convert bitcoin and withdraw it to crypto wallets and bank accounts.
7. OpenNode
The OpenNode project claims to be the world’s largest Bitcoin payment processing service provider. The OpenNode processing system delivers immediate settlements with low fees thanks to the Lightning Network’s availability. Because the system permits microtransactions, there is no minimum transaction size in OpenNode. Automatic scheduled withdrawal and manual withdrawal are the two withdrawal methods available to sellers. The first is sent to the seller’s Bitcoin wallet, while the manual withdrawal is converted into the seller’s local currency and then sent to the bank account immediately. After the first $10,000 in monthly income, OpenNode charges a 1% transaction fee. Up to this point, no fees are charged.
8. Tripple A
Triple A is one of the most trustworthy and secure cryptocurrency payment processors. Currently, the service supports Bitcoin, Bitcoin Cash, Ethereum, Tether, and a handful of ERC20 tokens. In addition, the service allows for fiat currency conversion, with over 40 national currencies available. The fee for converting cryptocurrency to fiat currency is 0.8 percent. Because it meets the greatest security standards, the service stands out. Triple A offers a variety of efficient and simple-to-integrate payment options, including plugins, invoicing, and POS terminals. Plugins are now available for three CMS platforms: OpenCart, WooCommerce, and Shopify.
9. GoCrypto
GoCrypto is now one of the most innovative and fast developing payment gateways. The program allows users to accept more than 40 different cryptocurrencies as payment. GoCrypto’s services are available in over 60 different countries. The service’s charges are determined by the country in which you live. The service offers a variety of unique capabilities in addition to plugins for the most popular e-commerce platforms. Accept bitcoin payments from your phone, tablet, or computer using a virtual POS. Elly POS is a physical point-of-sale system that accepts practically all payment types. A hardware point-of-sale system that allows a merchant to accept cryptocurrency payments as well as sell and buy it.
10. BitPay
BitPay is arguably the most well-known cryptocurrency payment processor in the world. BitPay was founded in 2011, just two years after the Bitcoin blockchain was launched, and now offers a wide range of services for merchants who want to accept cryptocurrency payments, including e-commerce plugins, payment buttons in online stores, donation buttons, an API, and a payment app for iOS and Android. In addition to processing, BitPay allows ordinary customers to create a crypto card, which is a prepaid card that accepts cryptocurrency deposits. Users can pay at stores with this card as if it were a standard bank card. There are open-source e-commerce plugins among the BitPay gateway’s many features. For merchants, the normal commission for taking online payments is 1% of the transaction value.
Conclusion
With the growing popularity of cryptocurrencies, there are an increasing number of services available to assist merchants. Each of these services has its own set of terms, payment options, and so forth. In this article, we’ve compiled a list of the top 10 best crypto payment gateways, which you can use to effortlessly set up crypto payment acceptance in your store.
