10 Best Crypto Payment Gateways for Online Stores

In this article, I will review the Best Crypto Payment Gateways for Online Stores and explore such aspects of their performance as supported cryptocurrencies, costs and settlement options, security, integrations, ease of use, speed of processing transactions, conversion to fiat, tools, and checkout compatibility. All that in order to assist crypto-friendly online stores to choose the most convenient and secure crypto payment gateway for receiving payments in digital assets.

What is Crypto Payment Gateways?

Crypto gateways are platforms enabling companies to collect digital coins from clients using a particular online system. Such services introduce technologies required to process financial transactions and pay off crypto to the seller.

Usually, they offer to settle payments in Bitcoin, Ethereum, or stablecoins and provide additional services like tracking, storing, converting, and exchanging crypto. Meanwhile, depending on the company, crypto can either be withdrawn directly to the wallet or changed into traditional money.

Therefore, the primary factors to consider are the list of available assets, fees, speed of work, level of safety, exchange services, and legal risks.

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Why Choose Crypto Payment Gateways for Online Stores

Global Reach: Offers the ability to collect payments from customers around the world, including those who may not have easy access to traditional banking systems.

Fast Settlements: Can facilitate quicker clearance of payments, both domestically and internationally, compared to traditional banking systems.

Low Fees: Certain gateways offer competitive transaction fees, potentially reducing payment costs for businesses.

Diverse Cryptocurrency Support: Allows businesses to accept a wide range of cryptocurrencies beyond just one or two popular options.

Fewer Chargebacks: The irreversible nature of blockchain transactions means there are no chargebacks, disputes, or fraudulently initiated refunds.

Easy Payment Integration: Provides APIs, plugins, payment links, and checkout options that make accepting crypto easier for businesses.

Fewer Price Volatility Risks: Offers stability through cryptocurrencies with pegged values or lower volatility, reducing potential losses due to price fluctuations.

Transparent Transactions: Transactions on the blockchain are visible and immutable, providing a transparent record of all payments.

Alternative to Traditional Payments: Gives customers a different method of payment apart from credit cards or traditional bank transfers.

Access to New Markets: Can attract international customers who might not use traditional payment methods as frequently.

Key Points

1. CoinGate

Founded in 2013, CoinGate is one of the first crypto payment processors. The company was established in Lithuania and has acquired an incredible status among businesses that accept payments in crypto.

The system supports over 70+ blockchains, including Bitcoin, Ethereum, and Litecoin. For example, CoinGate charges only 1% per transaction settled weekly. You can withdraw proceeds in crypto or fiat (SEP24) to your local bank account. The company offers plugins for popular platforms such as Shopify, WooCommerce, and Magento.

CoinGate promises regulated fiat settlement for EU-based businesses and convenience for selling online. As one of the Best Crypto Payment Gateways for Online Stores , it attracts companies with its wide coin coverage and ease of use.

2. BitPay

One of the most popular crypto gateways in the world is the BitPay platform, which was founded in 2011 and based in Atlanta, the United States. This service provides its users with the opportunity to collect Bitcoins, Bitcoin Cash, Ethereum, and other cryptocurrencies such as stablecoins USDC.

This company was the first to introduce the payment processing function for the cryptocurrency system. BitPay offers to withdraw money to the account of any bank every day, and the settlement is made at the rate of the chosen currency. The use of this gateway involves a 1% plus $ 0.25 fee, which can be a problem for small payments.

Although BitPay has a great reputation and is one of the most secure systems in the field, this feature is not always suitable for small companies, which is why they are looking for alternatives. However, despite this disadvantage, BitPay is among the best crypto payment gateways for online stores.

3. Coinbase Commerce

Launched in 2018, Coinbase Commerce allows to receive Bitcoin, Ether, Litecoin, Dogecoin, and USD Coin with a 1% fee and instant or 1-3 day settlement. Funds can be withdrawn as crypto assets or fiat currency on the Coinbase platform.

The service is notable for its high credibility and popularity as it is provided by a well-known exchange wallet service. It is easy to integrate Coinbase Commerce into an online business using its API and plugins for popular shopping cart software.

However, the tool allows only basic subscription management and lacks more advanced payment options. Thus, it is a good choice for online stores looking for Best Crypto Payment Gateways for Online Stores .

4. NOWPayments

NOWPayments Review: Best Crypto Payment Gateway for Online Stores? (2023)
NOWPayments is a relatively new player in the crypto payment gateway industry, having been established in 2019. The company offers a non-custodial gateway that covers over 300 cryptocurrencies, including Bitcoin, Ethereum, stablecoins, and many more.

In terms of pricing, NOWPayments has the lowest transaction settlement rate among the industry’s leading providers, at 0.5%. Settling transactions is also seamless as merchants can choose between fiat, crypto, or stablecoins.

The crypto payment processor also boasts multiple integration options, including API, plugins for popular e-commerce platforms like Shopify and WooCommerce, and POS terminals. Being non-custodial positions NOWPayments ahead of the competition as it allows merchants to maintain custody of their funds, eliminating potential security risks involved when using custodial wallets.

Overall, NOWPayments is an excellent crypto payment gateway for small business owners and freelancers who seek affordability and versatility, making it among the best crypto payment gateway for online stores.

5. Paybolt

Paybolt is a relatively new player in the crypto payment gateway industry. Established in 2021, Paybolt focuses on instant transactions to help businesses reduce exposure to price fluctuations. The gateway allows deposits in major cryptocurrencies like BTC, ETH, and USDT with settlements taking under five (5) minutes.

Paybolt is merchant-friendly, offering plugins for popular e-commerce platforms like WooCommerce and Shopify. With affordable transaction fees of around one percent (1%), merchants can settle either in crypto or fiat currency. Paybolt’s fast processing time makes it an attractive option for online stores looking to benefit from rapid settlement and a modern API.

6. AlfaCoins

The service was launched in 2013 and supports such cryptocurrencies as Bitcoin, Ethereum, Litecoin, Dash, and stablecoins. The company charges about 1% for each transaction and allows payments in crypto or fiat currencies.

AlfaCoins highlights its ability to split payments between crypto and fiat, which helps online stores mitigate risks associated with crypto volatility and take advantage of crypto rewards. The payment gateway can be integrated through application programming interfaces (API) or plugins.

Although it is not as popular as BitPay or Coinbase, AlfaCoins offers unique settlement options and is a good choice for crypto payment processing in the Best Crypto Payment Gateways for Online Stores.

7. CoinsPaid

Founded in 2014, CoinsPaid is a gateway and crypto wallet that supports over 30 coins, including BTC, ETH, and stablecoins. The company charges 0.8% of fees with instant crypto or fiat settlement and has excellent solutions for iGaming and high-volume merchants.

CoinsPaid can process mass payouts via advanced APIs and promote multi-level affiliate programs. Additionally, the platform is optimized for EU regulation and has exceptional reporting and reconciliation tools. This service is perfect for online stores looking for a powerful payment gateway with superior settlement options.

8. SpectroCoin

Established in 2013, this crypto payment gateway provider based in Lithuania offers support for BTC, ETH, XRP, and over fifty other cryptocurrency coins. It levies charges levied around 1% and offsets payments in crypto or fiat on SEPA. SpectroCoin also ensures that its users can spend their earnings through crypto debit cards.

The company provides API access and plugins for major e-commerce platforms. With a combination of both gateway and banking services, SpectroCoin emerges as a good option for online stores searching for a crypto payment processor that can enable them collect payments and spend the proceeds. Thus, it is a very competitive payment gateway option and one of the Best Crypto Payment Gateways for Online Stores .

9. GoCoin

The payment processor was founded in 2013 and supports various cryptocurrencies, including Bitcoin, Litecoin, Ethereum, and Dogecoin. GoCoin charges 1% fees and enables settlement in crypto or fiat. The company primarily focuses on alternative coins, which makes it an attractive choice for businesses targeting alternative cryptocurrency users.

The payment processor can be integrated into merchant platforms via APIs or plugins. However, it seems to have less popularity among merchants compared to BitPay. Thus, GoCoin provides another alternative for businesses that want to integrate multiple payment methods, including altcoins, into their platforms.

10. Blockonomics

Founded in 2015, Blockonomics is a decentralized Bitcoin payment gateway that offers BTC and BCH deposits with 0.5% fees. The companies that use this gateway do not have to store their money on the third-party platform because the coins are sent directly to the merchant wallet.

This product provides a good level of security for businesses that want to make their payments process fully decentralized. The services include plugins for WooCommerce and other platforms, creation of invoices, and notification emails.

The variety of supported coins is small, but the lack of custody is attractive to some merchants. Overall, Blockonomics is one of the best options for companies that want to provide their customers with the ability to pay via Bitcoin without trusting any third parties. It is a great choice among the Best Crypto Payment Gateways for Online Stores .

Comparison of Best Crypto Payment Gateways for Online Stores

Conclusion

Choosing the right crypto payment gateway might have a considerable effect on the performance of your online business. The companies that provide this service, from CoinGate and BitPay to NOWPayments and other, have various advantages and characteristics that can benefit different types of businesses.

For example, some gateways, like CoinsPaid and SpectroCoin, are suitable for high-level organizations that accept crypto payments on a large scale, while others offer low fees and better conditions for small-time sellers and affiliates. Blockonomics, in its turn, is focused on sovereignty and decentralization.

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