Merchants based in New York are also prevented from using this platform. The crypto community may be one of the most high-contrast sectors in existence, full of both starry-eyed idealists and ruthless scammers. There’s also not a whole lot of regulation protecting you if something goes wrong. This makes it doubly important to do https://www.xcritical.com/ your due diligence when selecting a crypto payment gateway.

Is using a crypto payment processor safe?

Your payment provider should have integrations with popular crypto wallets making this step of the journey easier. Once they’ve connected their wallet, the customer confirms the payment and sends funds to the merchant’s public address. In practice, the payee wallet may be owned by the crypto payment how do i accept crypto payments on my website processor, removing the need for you to hold any crypto assets on your balance sheet.

Crypto.com Pay: Best for Lowest Merchant Fees

Once you’ve selected your provider, you’ll need to go through onboarding and verification to set up your business account which can take a few weeks. This means you can onboard your team to manage various aspects, from accounting to development, ensuring that each member has the appropriate access and permissions. We offer multiple integration methods such as the CoinGate Payment API for those who want maximum customization. However, for those without coding knowledge, our Payment Buttons and E-commerce Plugins are simple and easy to set up.

Methodology: How I Evaluated Crypto Payment Gateways

Experience the convenience, security, and flexibility of crypto payments with our secure platform, minimal transaction fees, comprehensive integration options, and exceptional customer support. In practice, many businesses who choose to accept crypto don’t hold on to it. Coinbase is one of the largest cryptocurrency exchanges that also offers crypto payment gateway services through Coinbase Commerce. This gateway is not only fast, but it also allows merchants to receive payments securely without any middleman. With Crypto.com Pay, merchants are not charged transaction fees for accepting payments. The platform earns from trading, conversions, balance top-ups, and withdrawals.

Cryptocurrencies transcend borders, making it easier for international customers to purchase goods or services without worrying about currency exchange rates or additional fees. PayPal is a pioneer in mobile payments and offers one of the oldest digital wallets on the market. Since cryptocurrency began gaining popularity, I’ve been waiting for PayPal to add this feature, and it did not disappoint.

While it is difficult to get an accurate global total for businesses that accept crypto payments, it is clear that the number is growing. According to the Cryptocurrency Payments Report by Cointelegraph Research, around 30,000 merchants worldwide currently accept Bitcoin. Well-known brands processing cryptocurrencies from customers include Subway, Starbucks, BMW and Microsoft.

This aligns with the ethos of the Bitcoin community, which seeks to do away with middlemen wherever possible. For users who don’t want to self-host, BTCPay Server can be used on a shared server or on the cloud. These are some of the best places you can drop some of your hard hodled coins. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Help us to improve by providing some feedback on your experience today.

• Some businesses may want to focus on well-known currencies like Bitcoin or Ethereum, while others may want to explore some of the smaller and lesser-known coins.
• This process ensures that the payment is both secure and immutable, thanks to the decentralized nature of blockchain technology.
• Cryptocurrency can be transferred peer-to-peer between wallets with hashes (which can be copied, pasted, texted, or emailed) via crypto apps or QR codes.
• BitPay shields you from the price volatility of Bitcoin and other cryptocurrencies.
• A crypto payment gateway can let you control how much exposure you have to cryptocurrencies while easily rolling them into your checkout options.
• However, Bitcoin and Ethereum have historically had periods of volatility, so businesses should be prepared for fluctuations in their exchange rates.
• The two main roles are nodes and miners, which are both undertaken by coin owners.

Onboard your team to manage every aspect of your crypto payment rails (accounting, development, etc.). BitPay accepts 100+ cryptocurrencies which account for over 90% of the global crypto market cap. Notably, Confirmo provides PoS software that allows merchants to use a smartphone to accept cost-effective Bitcoin payments via the Lightning Network. Currently, Coinbase Commerce can be used to accept payments in Bitcoin, Ethereum, the USDC and USDT stablecoins, as well as a handful of altcoins.

Yes, most crypto payment gateways support conversion into your preferred fiat currency and even deposit your funds into your local bank account via ACH or wire transfer. Unlike traditional payment methods, making cryptocurrency work to boost your sales goes beyond just consumer preference. There are many cryptocurrency payment gateway providers on the market and it’s easy to get bogged down by technicalities as you try to decide which one is best for your business. BitPay uses a straightforward QR code invoicing system for retail payments. BitPay attempts to shield businesses from volatility by locking in the exchange rate at the time of sale.

As a mature crypto payments service, it offers support not just for retail payments but also payouts and billing. You don’t technically need a crypto payment gateway to accept a crypto payment. Cryptocurrency can be transferred peer-to-peer between wallets with hashes (which can be copied, pasted, texted, or emailed) via crypto apps or QR codes. This is usually done via a payment gateway to make the process simple. Depending on your location, you can even use crypto to pay for items in fiat currency with a crypto card. So whether you want to pay back a friend or purchase an item, there are multiple options that use blockchain technology.

Let’s say your transaction volume amounts to $1000; we deduct $10 from your balance, leaving you with $40. Your balance can even go negative if you forget to top it up in time and then settle the debt later. If you want to stop using our service, you can request a withdrawal of the remaining balance to your wallet.

The customer will have to pay a gas fee to make the transaction on the Solana blockchain, and you’ll also have to pay a gas fee if you want to transfer your coins to another wallet. Thankfully, Solana is one of the most efficient blockchains on the market, resulting in minimal fees. Even if you don’t have a website, you can receive cryptocurrencies using its Monetiser Online service. However, that’ll cost you a 3.5% transaction charge, while for payments through Bitcoin or altcoins on a website, GoURL will charge you a 1.5% fee.

Consider what kind of policy you’ll have for managing demands for refunds. Here are some issues to be wary of before you start accepting payments in crypto. Cryptocurrency payment processing is an exciting prospect with many potential use cases.

Because of this, I wouldn’t recommend using PayPal to hold your crypto assets long-term. Be sure to check your country’s cryptocurrency regulations before setting up an account with a gateway. These gateways can operate from anywhere in the world, and many countries are developing new laws regarding digital currency use.