5 Best Crypto Payment Gateways for Small Businesses in 2022
Cryptocurrency payment gateways allow small businesses to accept cryptocurrencies (such as bitcoin) as a payment method. big names in commerce like microsoft, at&t, overstock and amazon have been accepting cryptocurrencies as a form of payment through these payment gateways.
The best gateways offer currency conversion, have flexible settlement options and affordable transaction fees, and are easy to add to your existing website or online store. Based on our evaluation, the best crypto payment gateways for us merchants are:
Reading: Best bitcoin payment gateway
- bitpay: the best overall crypto payment gateway for small businesses
- coinbase commerce: the best for accepting multi-currency transactions
- paypal: best for paypal users
- shopify: best e-commerce platform for crypto payments
- alphacoins: ideal for non-profit organizations that accept donations in cryptocurrencies
comparison of the best crypto payment gateways
*shopify ecommerce software subscription required, $9-$299 per month
bitpay: the best crypto payment gateway overall
bitpay is one of the first cryptocurrency platforms to offer cryptocurrency trading and merchant payment gateway solutions. Users like Bitpay for its easy-to-use platform and customizable settings for security and payments. however, what sets it apart is its volatility shield function. bitpay locks in the applicable exchange rate at the time of the transaction so users get the exact value they requested deposited into their account.
This makes bitpay ideal for merchants who only want to accept payments for goods and services and avoid having to deal with currency fluctuations that can result in losses.
how bitpay allows you to accept crypto payments
bitpay allows you to set up payment and donation buttons, design hosted payments, and create invoices that you can embed on your website. you can even set up recurring billing for subscription customers. It also has a mobile point of sale (POS) feature if you want to provide a cryptocurrency payment method to customers at the cash register with the BitPay payment app. payments are processed daily and you can keep track of them from your bitpay dashboard.
how to add crypto payments with bitpay
bitpay integrates with popular ecommerce platforms like woocommerce and even shopify by creating an api token in your bitpay dashboard and linking it to your ecommerce platform account. for pos, you just need to download bitpay mobile app for android or ios and pair your app with your bitpay merchant account with an api token.
coinbase commerce: best for accepting multi-currency transactions
coinbase commerce is coinbase’s merchant services feature that enables small businesses to accept cryptocurrencies as an alternative payment method. As the largest centralized cryptocurrency exchange in the United States, Coinbase supports a long list of cryptocurrency options. this means that small merchants can accept more types of cryptocurrencies as payments from customers. A large exchange also means Coinbase has the ability to secure merchant funds if they allow Coinbase to manage their account.
how coinbase allows you to accept crypto payments
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coinbase allows you to accept payments from your website with several options depending on the size of your business. small merchants can create invoices, simple hosted payments and coin-based payment buttons. It also provides APIs for more personalized payment processing. for ecommerce stores, coinbase can be integrated with shopify and woocommerce.
However, unlike bitpay, coinbase does not support mobile point of sale functionality. it also offers fewer e-commerce platform integration options.
how to add crypto payment with coinbase
With a self-managed funding plan, you only need an email address to sign up for a merchant account. once your email address is confirmed, you can start accepting payments. eCommerce integration options can be easily added to a website with just a few clicks. Developer friendly APIs are also available for a more customized payment processing flow.
paypal: better for paypal users
paypal now includes a cryptocurrency wallet that allows users to transact and complete purchases using their cryptocurrency balance. Merchants using PayPal with or without a PayPal cryptocurrency account may offer crypto payment as an additional PayPal payment method. There are no additional fees for accepting cryptocurrency payments and PayPal does not charge for converting to fiat currency. Plus, merchants who accept this type of transaction get 24/7 fraud protection and purchase protection for qualifying items.
how paypal allows you to accept crypto payments
The option to pay with crypto will be shown automatically for customers with sufficient paypal cryptocurrency balance in their wallet. During checkout, your cryptocurrency holdings will be converted to fiat currency equal to the outstanding transaction amount at no additional cost.
How To Add Crypto Payments on PayPal
Cryptocurrency payment is automatic for merchants as long as the customer has a PayPal cryptocurrency account and has sufficient funds equal to the transaction amount in local fiat currency. Merchants are paid in USD or their local currency. Please note that this type of transaction falls under PayPal’s online payment category and merchants will be required to pay 3.49% + 49 cents in transaction fees.
shopify: best ecommerce platform for crypto payments
Unlike PayPal, Shopify is not a cryptocurrency platform, but most online merchants recognize Shopify as the gold standard when it comes to building an eCommerce business. It comes with a native website builder and eCommerce automation tools along with best-in-class omnichannel features. shopify can also integrate various third-party payment gateways, including some of the major cryptocurrency platforms.
waives its commission fees if you sign up for a shopify payment plan, making it the best option for merchants who already have a shopify merchant account.
how shopify allows you to accept crypto payments
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shopify allows you to accept cryptocurrency payments just like any other additional payment method on the platform. Your customers will recognize cryptocurrency payment gateways that support their type of cryptocurrency, and if you have one available as a payment method, your customers can easily choose that option during checkout. this will take them to the crypto platform’s website to complete the payment and return to your store once the transaction is complete.
how to add crypto payments on shopify
shopify offers direct integration with a long list of third-party payment gateways, including cryptocurrency platforms. Please note that you must have an account with any cryptocurrency platform you wish to list with Shopify. choose the platform from the list that you will find in your shopify control panel and the system will guide you through the linking of your cryptocurrency account with your shopify account.
If you don’t find your cryptocurrency platform in the list of direct integrations, you can also create a custom app using the shopify api, which can be installed on your shopify store.
alphacoins: ideal for non-profit organizations that accept donations in cryptocurrencies
Last but not least, alfacoins makes our roundup the best choice for registered nonprofits. merchants can accept donations with a 0.5% transaction fee, while non-profit organizations can contact alfacoins to accept cryptocurrency donations free of charge. also does not charge any withdrawal fees (except network fees charged by the blockchain network).
Please note, however, that alfacoins does not currently support currency conversion (neither for fiat currency nor for other types of cryptocurrencies). this means you also do not have the ability to deposit funds into your bank account.
how alfacoins allows you to accept crypto payments
alfacoins allows you to accept cryptocurrency payments through billing plugins, payment buttons and shopping cart. you can create and send invoices to your customer’s email or direct them to your website where the pay/donate buttons are located. alfacoins can accept bitcoin, bitcoin cash, litecoin, ethereum, dash, tether erc-20 and xrp with a transaction fee of 0.99%. it also offers a volatility shield by keeping the exchange rate fixed for 15 minutes from the time a transaction is initiated.
how to add crypto payments with alphacoins
alfacoins provides its users with a step-by-step guide to creating payment buttons, invoices and shopping cart plugins. It also supports a range of APIs for more custom design. the trading section of your alphacoins panel includes an integration option that you can then customize, from the types of cryptocurrencies you prefer to receive to how the payment button would look on your website.
cryptopayment gateway: frequently asked questions (faq)
are all crypto payment gateways available in usa? uh?
is it safe to accept cryptocurrency payments?
can I convert my cryptocurrency sales to my local currency?
How long does it take before I receive funds in my account?
a 2021 cryptocurrency payments report found that 46 million US consumers intend to use cryptocurrency to make purchases in the future. merchants need to start adopting this payment method to enjoy a share of the revenue. If you have a small business, there are a number of reliable crypto payment gateway solutions that can help you start accepting crypto payments in no time.
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