In today’s rapidly evolving digital economy, cryptocurrencies have become a mainstream payment option for many businesses worldwide. To capitalize on this trend, integrating a reliable crypto payment gateway is essential for any business looking to expand its customer base and offer more flexible payment solutions.
In this article, we explore what crypto payment gateways are, why your business needs one, and provide a comprehensive guide to help you choose the best crypto payment gateways that suit your business.
1. What are Crypto Payment Gateways?
Crypto payment gateways are digital platforms that allow merchants to accept cryptocurrency payments for their products and services. These gateways act as intermediaries, facilitating transactions between merchants and customers at the point of sale, whether online or in-store.
Some crypto gateways also offer merchants the option to receive fiat currency immediately, so they don’t need to hold cryptocurrencies on their balance sheets.
Here’s the flow of how crypto payment gateways operate:
Step 1. Integration
First, merchants need to choose and integrate crypto payment gateways into their checkout systems using tools like plugins, hosted payment pages, or APIs. For in-store payments, retailers may require a physical device that connects to their POS system. Integration can take a few weeks depending on setup and resources.
Step 2. Customer Payment
When a customer chooses to pay via a crypto payment gateway, they select their preferred cryptocurrency and send the payment to a designated wallet address, often through a QR code.
Step 3. Payment Confirmation
The crypto payment gateway then verifies the payment details and confirms the transaction on the blockchain. Once confirmed, both the customer and the merchant are notified of the successful payment.
Step 4. Payment Settlement
Merchants can receive payments in either cryptocurrency or fiat. Some crypto payment gateways offer instant conversions to fiat, while others may settle periodically, transferring the funds to the merchant’s bank account or crypto wallet.
2. Why do Your Business Needs to Integrate Crypto Payment Gateways?
Before we dive into each of the top crypto payment gateways individually, let’s first explore why integrating one is essential for your business:
Lower Transaction Fees
Crypto payment gateways often offer lower fees compared to traditional banking or credit card systems. This is particularly beneficial for businesses dealing with international transactions, helping to reduce costs.
More Customer Base
By using payment gateways that accept crypto, businesses can tap into a global market of customers who prefer digital currencies for their transactions. This can significantly increase market reach and attract a broader audience.
Immediate Transactions
With crypto payment gateways, transactions are processed almost instantly, enhancing cash flow and providing real-time payment confirmations, improving both business efficiency and customer satisfaction.
Enhanced Security
Cryptocurrencies operate on secure blockchain technology, reducing the risk of fraud and chargebacks. This ensures a safer transaction environment for both businesses and consumers.
3. How to Choose Crypto Payment Gateways for Your Business?
Businesses have many considerations when selecting the right crypto payment gateways to ensure the best fit for their needs. Below are the most important criteria to help you evaluate different crypto payment service providers.
3.1. Fees
Most traditional payment providers charge a flat fee per transaction plus a percentage of the payment’s value, typically ranging from 0.5% to 3%. For crypto gateways, these fees usually hover around 1%. Blockchain transaction fees are also applied.
Keep in mind that payment gateways may apply a markup to the exchange rate for payments involving currency conversions. This hidden cost typically falls on the customer at the time of the transaction.
3.2. Processing and Settlement Times
While cryptocurrency transactions are typically fast, they can be delayed by network congestion. Opting for crypto payment gateways that support multiple blockchains can minimize delays. Some providers even offer instant payment guarantees before the transaction is fully confirmed on the blockchain.
For businesses that prefer crypto-to-fiat settlements, the crypto payment gateway must first convert the cryptocurrency and transfer the fiat through traditional banking channels. The speed of this process depends on several factors, including settlement initiation times, the payment gateway’s agreements with banks and liquidity providers.
3.3. Ease of Deployment
Crypto payment gateways that offer low-code deployment options like hosted payment pages are ideal for businesses seeking quick setups. These solutions are optimized for conversions and are easy to integrate.
For businesses seeking more control such as a tailored customer payment experience, APIs and developer documentation become essential. In this case you should evaluate crypto payment gateways on their level of support and guidance. Additionally, ensure the gateway is compatible with other existing payment methods, financial software, and point-of-sale (POS) systems.
3.4. Customer Experience
Some crypto payment gateways provide better user experiences than others. Look for providers with optimized payment pages that integrate popular crypto wallets and streamline the currency selection process.
If you’re developing a payment process from scratch, select a provider that offers guidance on creating the most effective and high-converting payment journeys.
3.5. Customer Support
Signing up for a crypto payment provider might be simple, but choosing a provider that offers long-term support can be challenging. Look for one with a well-resourced customer support team, including dedicated account managers and technical experts available when needed. Ensure their support hours align with your business needs.
A good indicator of future support quality is their onboarding process, so ask for details on how they handle new integrations.
3.6. Compliance
With ever-changing cryptocurrency regulations, it’s vital to choose crypto payment gateways that stay updated on compliance requirements. Look for providers authorized in regions with strong regulatory oversight. If they have achieved high standards in that area, it’s likely they will have trustworthy risk and compliance controls in place.
They should also have robust governance, enhanced due diligence programs, and undergo regular independent reviews to maintain system integrity.
4. List of 13 Best Crypto Payment Gateways
Now let’s address our main problem: which crypto payment provider is best suited for your business? Each provider that we introduce below has its own set of pros and cons, as well as varied models that cater to different companies. As you review each option, consider your specific goals to make the most informed final decision.
Here is an in-depth look at the top 13 crypto payment gateways including Pay.FMCPAY.com, BitPay, CoinGate, Coinbase Commerce, CoinPayments, GoCoin, BTCPay Server, NOWPayments, Payza, Aliant Payments, Uphold, CryptoProcessing, and PayPal.
4.1. Pay.FMCPAY.com
Pay.FMCPAY.com is a cryptocurrency payment gateway that connects businesses and consumers, offering a fast, seamless, and borderless solution for transferring and receiving crypto. By using Pay.FMCPAY.com, businesses can tap into the growing crypto market and offer customers an alternative payment option.
The platform is designed with a user-friendly interface, ensures a smooth and engaging payment experience for customers. Additionally, it provides APIs and plugins that make it easy for businesses to integrate crypto payment options into their websites and apps, eliminating the need to manage digital assets and simplifying the process of accepting cryptocurrency.
- Established Year: 2024
- Headquartered: Delaware, USA
- Business Services: Crypto payments, APIs, and plugins for business integration
- Number of Cryptocurrencies Supported: 50+
- Transaction Volume: Over $1 billion annually
- Fees: 1% per transaction
- Regulatory Licenses: Complies with global regulations
4.2. BitPay
BitPay is one of the most established crypto payment gateways in the industry, founded in 2011.
As a pioneer in this space, BitPay provides a reliable and secure platform for businesses to accept cryptocurrency payments. The gateway supports a variety of digital currencies, including Bitcoin and Bitcoin Cash, and offers features such as invoicing, payment processing, and settlement in both crypto and fiat currencies.
BitPay is known for its robust security measures and its ability to integrate seamlessly with existing business systems. Its extensive experience and global reach make it a popular choice for businesses seeking to accept crypto payments while minimizing the risks associated with digital currencies.
- Established Year: 2011
- Headquartered: Atlanta, Georgia, USA
- Business Services: Cryptocurrency payment processing, invoicing, and merchant services
- Number of Cryptocurrencies Supported: 100+
- Transaction Volume: Over $1 billion annually
- Fees: 1% per transaction
- Regulatory Licenses: Licensed in various U.S. states and internationally compliant
4.3. CoinGate
CoinGate is a versatile cryptocurrency payment gateway launched in 2014, offering a comprehensive solution for businesses of all sizes.
CoinGate supports an impressive array of cryptocurrencies, making it a flexible choice for merchants looking to accept multiple digital assets. It provides features like instant conversion of crypto payments to fiat, a user-friendly interface, and various integration options such as plugins and APIs.
CoinGate’s focus on ease of use and customer support, combined with its ability to handle high transaction volumes, makes it a reliable option for businesses aiming to expand their payment options and reach a broader audience.
- Established Year: 2014
- Headquartered: Vilnius, Lithuania
- Business Services: Payment gateway, merchant tools, and invoicing
- Number of Cryptocurrencies Supported: 70+
- Transaction Volume: $100 million+ annually
- Fees: 1% per transaction
- Regulatory Licenses: Registered as a payment institution in Lithuania
4.4. Coinbase Commerce
Coinbase Commerce, launched in 2018, is part of the renowned Coinbase ecosystem, which is well-known for its cryptocurrency exchange services.
This gateway provides a seamless integration with the Coinbase platform, allowing merchants to accept various cryptocurrencies easily. It offers features such as secure payment processing, invoicing, and real-time transaction tracking.
Coinbase Commerce is particularly advantageous for businesses already using Coinbase for their cryptocurrency needs, as it ensures a cohesive and efficient payment experience. The gateway supports a range of popular digital currencies and provides a high level of security through Coinbase’s trusted infrastructure.
- Established Year: 2018
- Headquartered: San Francisco, California, USA
- Business Services: Crypto payment processing, merchant tools
- Number of Cryptocurrencies Supported: 200+
- Transaction Volume: Growing rapidly with Coinbase’s global reach
- Fees: 1% per transaction
- Regulatory Licenses: Operates under Coinbase’s regulatory framework
4.5. CoinPayments
Founded in 2013, CoinPayments is of of the well-established crypto payment gateways known for its extensive support for digital currencies.
CoinPayments offers a wide range of features, including multi-currency support, merchant tools, and a comprehensive API for integration. The gateway is designed to cater to businesses of all sizes, providing flexibility in how payments are processed and managed.
With its extensive list of supported cryptocurrencies and a reputation for reliability, CoinPayments is a popular choice for businesses looking to accept a diverse range of digital assets while benefiting from competitive transaction fees and robust security measures.
- Established Year: 2013
- Headquartered: Vancouver, Canada
- Business Services: Payment gateway, merchant tools, and multi-currency support
- Number of Cryptocurrencies Supported: 200+
- Transaction Volume: Over $1 billion annually
- Fees: 0.5% per transaction
- Regulatory Licenses: Compliance with Canadian and international regulations
4.6. GoCoin
GoCoin, established in 2013, is a payment gateway that focuses on providing solutions for merchants interested in accepting cryptocurrencies in emerging markets. The platform supports a variety of digital currencies and offers features such as seamless integration with existing payment systems and comprehensive customer support.
GoCoin is known for its focus on facilitating payments in regions with high demand for cryptocurrency solutions, making it an attractive option for businesses targeting these markets. Its ability to handle multiple cryptocurrencies and provide reliable service makes it a valuable tool for businesses looking to expand their payment options.
- Established Year: 2013
- Headquartered: Singapore
- Business Services: Payment processing, merchant support
- Number of Cryptocurrencies Supported: 20+
- Transaction Volume: Extensive in Southeast Asia
- Fees: 1% per transaction
- Regulatory Licenses: Licensed in Singapore and compliant with regional regulations
4.7. BTCPay Server
BTCPay Server is an open-source, self-hosted payment gateway introduced in 2018, designed to provide privacy and control for merchants.
Unlike traditional payment gateways, BTCPay Server allows businesses to run their own payment processing infrastructure without relying on third-party services. This open-source approach ensures that businesses have full control over their payment processes, including security and data management.
BTCPay Server supports a range of cryptocurrencies and offers features such as customizable payment pages and detailed transaction reporting. Its focus on decentralization and security makes it a unique option for businesses prioritizing privacy and independence.
- Established Year: 2018
- Headquartered: Distributed (Open Source Community)
- Business Services: Self-hosted payment processing, invoicing
- Number of Cryptocurrencies Supported: 20+
- Transaction Volume: Varies by user
- Fees: None (open-source and free)
- Regulatory Licenses: None (self-hosted solution)
4.8. NOWPayments
Unlike other crypto payment gateways, NOWPayments simplifies cryptocurrency transactions for businesses. It offers a user-friendly platform with features such as automatic crypto-to-fiat conversion, API integration, and a variety of payment methods.
NOWPayments is designed to be accessible for both small and large businesses, providing flexible solutions for accepting digital currencies. Its focus on ease of use and broad cryptocurrency support makes it a popular choice for merchants looking to integrate crypto payments seamlessly into their operations.
- Established Year: 2019
- Headquartered: Hong Kong
- Business Services: Crypto payment processing, API integration, and invoicing
- Number of Cryptocurrencies Supported: 300+
- Transaction Volume: Growing rapidly
- Fees: 0.5% per transaction
- Regulatory Licenses: Compliant with international standards
4.9. Payza
Payza, founded in 2012, offers a comprehensive payment gateway that includes cryptocurrency solutions among its services. The platform is known for integrating traditional payment methods with digital currencies, providing a broad range of financial services.
Payza’s gateway supports various cryptocurrencies and offers features such as international transfers and merchant services. Its extensive experience in the payment processing industry and its ability to handle both crypto and fiat transactions make it a versatile choice for businesses seeking a unified payment solution.
- Established Year: 2012
- Headquartered: London, UK
- Business Services: Payment processing, international transfers, and merchant services
- Number of Cryptocurrencies Supported: 15+
- Transaction Volume: Significant, with global reach
- Fees: 1.5% per transaction
- Regulatory Licenses: Regulated in multiple jurisdictions
4.10. Aliant Payments
Aliant Payments is one of U.S.-based crypto payment gateways offering cryptocurrency payment processing alongside traditional payment methods.
As one of the first payment processors to incorporate crypto into its services, Aliant is a leader in providing seamless payment options for merchants. The platform supports multiple cryptocurrencies and allows businesses to settle in either crypto or fiat currencies.
Aliant Payments emphasizes security, compliance, and fast settlement times, making it an attractive choice for businesses looking for a comprehensive and trusted solution for processing both crypto and traditional payments.
- Established Year: 2003
- Headquartered: Fort Lauderdale, Florida, USA
- Business Services: Payment processing, merchant accounts, crypto and fiat settlements
- Number of Cryptocurrencies Supported: 5+
- Transaction Volume: High
- Fees: 1% per transaction
- Regulatory Licenses: Compliant with U.S. payment processing regulations
4.11. Uphold
Uphold, founded in 2015, is a digital wallet and payment gateway that integrates cryptocurrency with traditional financial services. The platform supports a wide range of cryptocurrencies and provides features such as seamless currency exchange and payment processing.
Uphold’s gateway is designed for businesses seeking to leverage both digital and fiat currencies, offering a versatile solution for diverse financial needs. Its focus on combining traditional and digital payment methods makes it a valuable tool for businesses looking to expand their payment options.
- Established Year: 2015
- Headquartered: New York, USA
- Business Services: Payment processing, digital wallet services, and currency exchange
- Number of Cryptocurrencies Supported: 30+
- Transaction Volume: Significant, with growing user base
- Fees: 0.5% per transaction
- Regulatory Licenses: Regulated in multiple jurisdictions
4.12. CryptoProcessing
CryptoProcessing is a relatively new entrant in the crypto payment gateways market, designed to cater to businesses seeking a straightforward and efficient solution for accepting digital currencies.
Launched in 2020, this gateway focuses on providing a user-friendly platform with essential features such as seamless integration, real-time payment processing, and a wide range of supported cryptocurrencies.
CryptoProcessing emphasizes simplicity and ease of use, making it a suitable choice for businesses looking to quickly adopt cryptocurrency payments without extensive technical requirements. Its straightforward approach and competitive fees have quickly gained it a reputation as a reliable option for businesses of all sizes.
- Established Year: 2020
- Headquartered: Tallinn, Estonia
- Business Services: Crypto payment processing, merchant tools
- Number of Cryptocurrencies Supported: 30+
- Transaction Volume: Growing with increasing adoption
- Fees: 1% per transaction
- Regulatory Licenses: Compliant with EU regulations
4.13. PayPal
PayPal, a well-known name in the digital payments industry since its inception in 1998, has expanded its services to include cryptocurrency transactions. Through its integration with various crypto assets, PayPal allows businesses to accept payments in Bitcoin, Ethereum, and other major cryptocurrencies.
The platform is designed to provide a seamless experience for both merchants and customers, with features such as instant transaction processing and integrated payment management tools.
PayPal’s extensive user base and trusted reputation make it a strong choice for businesses looking to tap into the cryptocurrency market while leveraging PayPal’s established payment infrastructure.
- Established Year: 1998
- Headquartered: San Jose, California, USA
- Business Services: Digital payments, cryptocurrency transactions, and merchant services
- Number of Cryptocurrencies Supported: 4 (Bitcoin, Ethereum, Litecoin, Bitcoin Cash)
- Transaction Volume: Over $1 trillion annually
- Fees: 2.9% + $0.30 per transaction for crypto payments
- Regulatory Licenses: Licensed and regulated in multiple countries
Each of these crypto payment gateways offers distinct features and benefits. Consider your specific business needs and goals when evaluating which gateway best fits your requirements.
Conclusion
As cryptocurrencies continue to gain momentum, selecting the right crypto payment gateways for your business is essential to meeting customer demand and staying competitive in the global market.
By understanding what these crypto payment gateways offer, why they matter, and how to evaluate them, you can choose a solution that aligns with your business goals.
And keep following FMCPAY for more helpful news and crypto insights!