A bitcoin payment gateway enables merchants to accept bitcoin transactions. Most of these payment processors now allow the purchase and sale of many other altcoins, including Ethereum, Litecoin, Ripple, and Bitcoin Cash.
Here are the top ten Bitcoin gateways for 2023.
Coinbase is the largest bitcoin exchange in the United States, as well as one of the major cryptocurrency exchanges worldwide. With such a massive user base, Coinbase has the resources to provide some wonderful services to assist make its users’ lives easier.
Because the company is situated in the United States, it is required to follow all currency exchange legislation in the United States. As a result, it is one of the most trustworthy exchanges, which is critical considering that the cryptocurrency business is mainly unregulated.
Coinbase can be used as both a bitcoin payment gateway and a standard exchange. It enables immediate money conversion from Bitcoin to fiat currency without requiring the merchant to request a withdrawal. The exchange provides this service for free for the first $1 million in transactions, after which Coinbase charges a 1% merchant fee.
Payments will clear to the merchant’s bank account within 2 to 3 days, making it an excellent choice for enterprises of all sizes. The only disadvantage of Coinbase is that it only runs in a few countries around the world.
Coingate provides an extremely user-friendly app that allows retailers to set up and manage payments directly from their phones. It also supports 40 other cryptocurrencies, which means that companies may significantly increase the number of various payment methods they provide just by employing this bitcoin payment gateway.
As if that wasn’t enough to pique your curiosity, Coingate also provides a variety of plugins and allows the development of bitcoin payment buttons on any website. Coingate charges a 1% fee on all transactions that take less than an hour.
CoinsBank is an easy-to-use bitcoin payment gateway with a strong reputation in the market. It is available for mobile devices via free Android and iOS apps.
This fantastic bitcoin payment gateway accepts most major fiat currencies, including USD, GBP, and EUR. The app has a one-click rapid deposit and withdrawal option that is useful for high-volume traders.
Coinsbank also offers free cash transfers to relatives and friends 24 hours a day, seven days a week. All transactions are completed at real market rates, giving users greater control over their money. This function is very important for traders who risk missing out if they are only limited to open/close/mid market rates.
Finally, the platform provides cutting-edge security, such as a two-factor authentication method that helps secure your wallet. If consumers have any concerns, they can contact customer service 24 hours a day, seven days a week.
AlfaCoins, undeniably one of the best bitcoin payment gateway, has the unique feature of allowing payments to be split between fiat and cryptocurrency. This is a great option for merchants who want to keep some bitcoin from each transaction to cash in on rising prices because it allows them to hedge their bets without risking the entire amount.
While AlfaCoins has a slightly lower transaction fee of 0.99%, it lacks Coinbase’s $1 million in free transactions. However, AlfaCoins does not charge any additional fees to install the bitcoin payment gateway and does not require a subscription. Another advantage is that AlfaCoins can be used in any country except Iran and North Korea. It allows you to withdraw funds in USD or EUR.
Shopify is one of the most trusted and best cryptocurrency or bitcoin payment gateway in the world. As a result, it is already being used by thousands of merchants worldwide to facilitate bitcoin payments.
It is very simple to set up and has a lot of customer service support if you need it. The platform is jam-packed with useful features, such as APIs that enable integrations with Coinbase and other payment gateways, making payment processing as simple and transparent as possible.
The only disadvantage of Shopfy is that merchants must sign up for a Shopfy merchant account in order to use the payment processing service. Transaction fees vary depending on the payment processor selected by the merchant.
BitPay’s flexibility to set withdrawal transaction speeds to whatever time range is desired is a truly cool feature. This function is extremely useful for merchants who require or prefer withdrawals to occur at regular intervals. Another useful feature is two-factor authentication, which makes accounts even more secure.
BitPay is a quick and straightforward bitcoin payment gateway to set up and use. The entire procedure has been simplified to make it as simple as possible for less tech-savvy merchants.
This bitcoin payment gateway has a free daily transaction cap of $1,000 and a yearly transaction ceiling of $10,000 before charging a 1% transaction fee. As a result, it is an ideal option for small businesses and startups. The only disadvantage is that BitPay only accepts direct bank deposits in 38 countries right now. If yours does not make the cut, you will not be allowed to use it.
Developers all over the world have a great deal of affection for GoCoin. This is due to the fact that it provides a very plain and easy-to-use API for them to utilize. GoCoin has a wide variety of plugins, which enables the cryptocurrency to be integrated with a variety of online shopping systems, like Shopfy.
The customer service offered by this bitcoin payment gateway is praised extremely highly by its users. It is possible to withdraw funds in US Dollars, and a one percent fee is applied to all trades. It is supported in virtually every country on the planet with the exception of a small number of them, making it a viable alternative for retailers in any region.
BitcoinPay is without a doubt one of the most reliable bitcoin payment gateway currently available, and it is highly recommended to any business who is searching for the lowest possible rate on transaction fees. Because it has a flat rate of 0.8% for all transactions, this payment gateway is the most affordable option available on this list.
BitcoinPay enables extremely speedy withdrawals, with funds being received and made available in a matter of seconds, despite the lower costs that it charges. It facilitates payments to bitcoin wallets and other electronic wallets in addition to payments to bank accounts, and as a result, it is an excellent choice for merchants who are serious about cryptocurrencies.
BitcoinPay provides incredibly clear reports, which make it easier for merchants to evaluate transactions that have already been performed. This is an added feature. The owners of small businesses who currently have to manually check transactions will definitely be relieved to learn about this function. At the moment, plugins for BitcoinPay are available for use with Magento, WooCommerce, OpenCart, PrestaShop, and a number of other shopping platforms.
GoURL is a wonderful answer to the problem of how to take Bitcoin if your company does not have a bank account. If this is the case, you may be wondering how to proceed. GoURL is compatible with all of the most popular bitcoin wallets and even bitcoin debit cards, such as the one offered by BitPay. GoURL works with all major bitcoin wallets. As a consequence of this, it provides a high degree of anonymity, which is something that many people who use bitcoin find appealing.
Because of the high regard in which its WordPress plugin is held, which contributed to its being rated as one of the top payment gateway plugins for that platform, it has earned the title. The GoURL platform provides detailed payment breakdowns, which make order management a very uncomplicated process. Payments are received within thirty seconds of the transaction being completed and may be relied upon completely. This platform enables merchants to set up 1-click payment options on their websites with the use of Monetiser Online, which is another amazing feature of this platform.
The use of GoURL as a payment gateway is not without its share of problems, however. To begin, the platform does not support direct bank transfers, which will undoubtedly be a source of annoyance for a number of different firms. The second disadvantage is that the fees are more expensive than those of the other payment gateways on our list.
GoURL assesses a fee of 1.5% on any and all transactions that take place through a website and a cost of 3.5% for the use of Monetiser Online. Because these rates are comparable to the credit card fees that businesses are required to pay, it is unlikely that any retailer will use GoURL on the grounds of wanting to save money because these rates are close to the rates that credit card companies charge.
Along with the more conventional option of a bank transfer, one of the primary selling points of SpicePay is the fact that it enables merchants to withdraw their bitcoin payments using PayPal and even debit cards. Depending on the preferences of the retailer, withdrawals can be processed either in US Dollars or in Euros.
The completion of a payment using euros can take up to 24 hours, which is significantly longer than the time required for some of the speedier trades. SpicePay levies a one percent (1%), flat fee on each and every transaction; however, new merchants are eligible for free transactions for a limited period of time.
Because it is missing a lot of helpful features that are present in other payment gateways on this list, SpicePay is not the payment gateway that I would select first if I had to choose one. If, on the other hand, your company relies substantially on PayPal, then it is undeniably a fantastic platform to take into consideration.
How does the system of payment for bitcoins work?
At the checkout, the customer chooses to pay in cryptocurrency instead of fiat currency. They hand over an amount of money to you that is equivalent to the value of the digital currency on the open market at the time of the transaction. The payment processing service for cryptocurrencies instantly converts the amount paid into the currency of your choice.
How does the payment gateway actually function?
A payment gateway is what enables buyers and sellers to successfully transfer money to one another. It makes it possible for your e-commerce website to ask a customer’s bank for payment in exchange for the goods or services that the customer has purchased. After that, the payment will be sent to your bank in a safe and secure manner, presuming it has been approved.
Do Bitcoin transactions need to go via a bank?
It is not necessary for you to rely on a financial institution to hold your money. Payments are made directly from one party to another without passing through another financial institution, analogous to wire transfers or cash transactions.
What kind of transaction would be an example of Bitcoin?
Imagine, for instance, that Mark had got 0.6 BTC each from Alice and Bob. Now, there could be two inputs required to transmit 1 BTC to Jessica: one input of 0.6 BTC from Alice and one input of 0.6 BTC from Bob. Amount. In this instance, Mark is requesting to send 1 BTC.
Why is a payment gateway necessary?
It secures the transmission of sensitive credit card information from the customer to the acquiring bank via the merchant. To put it another way, the payment gateway acts as a go-between, ensuring that the transaction is completed quickly and securely.