Cryptocurrency Payment Gateways
Digital currency payment gateways allow a business to accept cryptocurrency as a form of payment.
You can either convert the digital currency into fiat automatically or keep it in cryptocurrency when the payment is received.
If you decide to keep the cryptocurrency, it will be held in a digital wallet that you will have control of. However, if your business wanted to convert the payment into fiat, an exchange rate will be determined at the purchase time and converted automatically. This is an excellent way if you would like to take cryptocurrency as a form of payment but do not want exposure to the volatility of cryptocurrency.
You can receive cryptocurrency online and instead of traditional payments. When the product’s price is set, the customer can scan a QR code or send the payment to an address known as your wallet address.
Coinbase is one of the biggest cryptocurrency exchanges and has over 8000+ merchants accepting crypto payments. They have made it very user friendly and is very quick to set up. With Coinbase, you can convert cryptocurrency payments automatically to fiat or keep the payments in the cryptocurrency of your choice, with fees of 1%.
- Fees are 1%
- Can settle payment in cryptocurrency or fiat
- Woocommerce integration
- Shopify integration
Bitpay is one of the original cryptocurrency payment gateways, launched in 2011. It is straightforward to set up on your website or e-commerce business with the help of plugins which make the process easy for beginners without the need for coding experience.
- Fees are 1%
- Can settle payment in cryptocurrency or fiat
- Woocommerce integration
- Shopify integration
- Magneto intergation
- + more online e-commerce solutions
Founded in 2019, Plisio is a great option to use for your cryptocurrency payment gateway. It is super easy to install with your e-commerce website and can be set up in a matter of minutes, without the need for any coding experience. It has one of the lowest fees compared to other payment gateways, with fees starting from 0.5%.
- Fees start at are 0.5%
- Can settle payment in cryptocurrency or fiat
- Woocommerce integration
- Magneto integration
- + more online e-commerce solutions
NowPayment is a non-custodial (own your wallet) payment gateway that was launched in 2019. It has a meagre fee starting at 0.4%, with the option to pay in over 100 cryptocurrencies. It is also compatible with many different e-commerce websites, so you can set it up very quickly.
- Fees start at are 0.4%
- Can settle payment in cryptocurrency or fiat
- Woocommerce integration
- Magneto 2 integration
- + more online e-commerce solutions
Summary
There are several different payment gateways available now for those who want to start accepting crypto payments. These allow you to either keep these in your chosen crypto or convert them to fiat currency. With all of these gateways, please do your research and find what is best for you.
