The Best Cryptocurrency Payment Gateway of 2023
- : Best for High-Volume Transactions
- : Best for Newcomers
- : Best for Personal Use
- : Best for Multi-Currency Support
- : Best for Customization
- : Best for Quick Settlements
Best for High-Volume Transactions
CoinsPaid
Invoicing
Fiat Currency Support
Fiat Currency Support
Why We Picked It
CoinsPaid is perfect for businesses processing a large number of transactions daily due to its unbeatable low fees of 0.8%. While traditional Payment Service Providers often have fees exceeding 5%, CoinsPaid’s economical fee structure allows businesses to save substantially. Another strength lies in its transaction speed: a rapid turnaround time of fewer than 10 minutes means funds flow quickly into your account.
It extends its capabilities beyond Bitcoin to include more than 20 other digital assets, offering a breadth of options to both merchants and buyers. This payment gateway also converts digital assets to over 40 national currencies, giving businesses a high degree of financial fluidity.
Another compelling attribute is its 100% acceptance rate for any business type, making it a universally applicable solution. With CoinsPaid, businesses can also manage multiple accounts effectively due to its extensive reporting system. The provider supports recurring payments and offers several payment methods, such as invoices and payment links, making it adaptable to different business models. Its uptime of 99.99% ensures transactions are processed with negligible interruptions.
Who should use it:
Businesses that require swift, economical and versatile cryptocurrency transactions should consider CoinsPaid.
Pros & Cons
- Exceptionally low transaction fees of 0.8%
- Rapid transaction processing in under 10 minutes
- Supports over 20 cryptocurrencies and 40-plus fiat currencies
- 100% acceptance rate for all types of businesses
- Offers multiple payment methods including recurring payments
- Rolling reserve only available for fiat transactions
- No option for refunds in cryptocurrency
Best for Newcomers
Coinbase Commerce
Fiat Currency Support
Fiat Currency Support
Why We Picked It
Coinbase Commerce makes an excellent gateway for those new to cryptocurrency transactions, primarily due to its straightforward setup and management features. With just an email address, one can set up an account, bypassing tedious compliance reviews. The transaction fee stands at a reasonable 1%, and flexibility prevails with two wallet management options—either self-managed or Coinbase-managed, depending on your comfort level and technical expertise.
Another significant advantage lies in its multi-asset support, offering compatibility with over 10 popular cryptocurrencies, from Bitcoin and Ethereum to niche assets such as ApeCoin and SHIBA INU. While other platforms might compel merchants to sift through complex APIs, Coinbase Commerce comes equipped with a Turnkey API that allows businesses to create custom workflows efficiently.
Beyond mere transactions, the gateway provides merchants with a comprehensive dashboard for business reporting. This aids in accounting and reconciliation, helping businesses keep a close eye on their financial health. Flexibility extends to the payment options too, supporting both manual and automatic currency conversion depending on your needs.
Who should use it:
Businesses new to cryptocurrency looking for an easily manageable and flexible payment gateway.
Pros & Cons
- Quick account setup with just an email
- Two wallet management options offer flexibility
- Supports over 10 different cryptocurrencies
- Turnkey API for efficient custom workflows
- Comprehensive dashboard for business reporting
- 1% transaction fee may not be ideal for high-volume businesses
- OFAC restrictions limit global reach
- No support for refunds in the self-managed option
Best for Personal Use
PayPal
E-Commerce Integrations
Fiat Currency Support
E-Commerce Integrations
Invoicing
Fiat Currency Support
Why We Picked It
PayPal has successfully navigated the traditional payment infrastructure for years, but it’s the venture into cryptocurrency that adds another layer to its offerings. Geared toward personal accounts in the U.S. and its territories (with Hawaii as the exception), PayPal brings a degree of familiarity to the often bewildering world of digital assets. What sets it apart is the ability to send and receive crypto between confirmed personal PayPal accounts. While crypto may be revolutionary, the need for a frictionless transaction process remains a constant, and PayPal fills that gap. The platform extends its offering by allowing the sale of crypto to fund purchases, thus marrying the realms of traditional and digital finance.
For the more cautious or market-aware users, PayPal’s built-in price alert system activates notifications for significant price changes, bringing an investment angle into the day-to-day utility of holding crypto. Also, there’s no need to dabble in separate accounts or additional sign-ups; everything is neatly tucked into your existing PayPal account.
Fees are also clearly outlined, steering clear of surprises: no charges for holding crypto, though transaction and network fees apply for buying, selling and external transfers. It melds the nascent crypto market with the tried-and-true framework of personal financial management.
Learn more: Read our full PayPal review.
Who should use it:
Individuals in the U.S. and U.S. territories looking to integrate cryptocurrency into their personal financial activities.
Pros & Cons
- Pairs traditional financial systems with the flexibility of crypto transactions
- In-app price alert system for crypto market fluctuations
- Merges crypto sales into a purchase funding mechanism
- Transparent fee structure
- No need for separate accounts or additional financial juggling
- Limited to personal accounts, excluding business utility
- Geographical restrictions make it unsuitable for a global audience
- Supported cryptocurrencies are relatively few, limiting diversification options
Best for Multi-Currency Support
BitPay
Why We Picked It
BitPay addresses multiple pain points typically associated with cryptocurrency transactions. It mitigates the need for businesses to directly deal with cryptocurrencies by settling payments in cash. This positions BitPay as a bridge between traditional financial systems and the emerging digital currency ecosystem, offering a cushion against the often volatile crypto market. Irreversible payments essentially eliminate the risk of fraud-related chargebacks, providing another layer of security for businesses. In addition to supporting a multitude of crypto wallets, the platform also supports 16-plus significant cryptocurrencies, enabling businesses to tap into a broader market.
BitPay transcends geographical limitations with its global accessibility, reaching out to 229 countries and territories. This international reach is particularly beneficial for businesses aiming to grow globally without grappling with the intricacies of currency conversion or regional financial regulations. The fee structure for transactions is compelling, undercutting traditional credit card fees by a considerable margin.
While multiple channels for customer interaction might be common in this category, BitPay also offers tailored solutions for online, email and in-person transactions. The flexibility caters to various business models, from e-commerce platforms to brick-and-mortar establishments, providing them a tailored approach to accepting cryptocurrencies.
Who should use it:
Businesses looking for a versatile cryptocurrency payment solution with a focus on multi-currency support and risk mitigation.
Pros & Cons
- Comprehensive multi-currency support extends market reach
- Direct cash settlement stabilizes revenue stream against crypto volatility
- Fraud chargebacks nearly eliminated through irreversible transactions
- Lower transaction fees compared to traditional credit card payments
- Versatility in payment acceptance channels accommodates diverse business models
- Absence of a free plan could deter small businesses
- Current waitlist for new business account sign-ups indicates capacity constraints
Why We Picked It
NOWPayments is a versatile gateway for those interested in tailoring their cryptocurrency transactions. The platform offers a multitude of cryptocurrencies, exceeding 200 options, making it one of the most diverse platforms for businesses that aim to give customers ample choice. The customization extends to the integration method, letting businesses opt for widgets, buttons, APIs or invoices based on their specific needs and the technological architecture they already have in place.
Fees often act as a deciding factor for businesses contemplating crypto adoption, and at a mere 0.5%, NOWPayments is among the most competitive in the market. This cost-effectiveness is not compromised by a lack of support, as the platform offers 24/7 assistance and personal account managers.
Another notable feature is the flexibility in settlement. You can choose to receive funds directly in euros or the cryptocurrency of your choice, providing room for strategic financial planning. With no chargebacks, the payment process adds an extra layer of security, which in tandem with free integration, creates a compelling package for businesses. The variety of CMS plugins ensures compatibility with many popular e-commerce platforms, offering versatility without complexity.
Who should use it:
Businesses prioritizing customization and low fees in a crypto payment gateway should find NOWPayments most fitting.
Pros & Cons
- Extensive selection of supported cryptocurrencies broadens customer base
- Multiple integration methods fit different tech stacks
- Extremely competitive fee structure enhances profitability
- Custom settlement options offer financial planning flexibility
- Round-the-clock support coupled with personal account management
- Lack of brand recognition compared to longer-established competitors
- Absence of a mobile app limits on-the-go management options
Why We Picked It
When businesses engage with cryptocurrency, liquidity and the speed of accessing funds often dictate the attractiveness of a payment gateway. Confirmo’s focus on swift settlements directly responds to this pain point. The platform permits rapid transfers of funds to either your bank account or your cryptocurrency wallet, at daily or weekly intervals. This liquidity-enhancing feature provides businesses the immediacy they often require in volatile crypto markets.
Transparent fee structures also add to the platform’s allure, and with no hidden charges, what you see is what you pay. This establishes a predictable cost environment, a valuable trait when dealing with cryptocurrencies that themselves can be volatile in price.
The ability for mass payouts in multiple cryptocurrencies such as BTC, ETH, LTC and stablecoins such as USDC and USDT adds another layer of flexibility. Businesses needing to disburse payments to multiple stakeholders can do this efficiently, without owning a crypto wallet. The speed and flexibility are particularly beneficial for Forex brokers, e-commerce stores and SaaS businesses.
Confirmo has a proven track record of secure operations since 2014 and, as an EU-regulated company, adheres to international legal frameworks. This contributes to a safe transaction environment, underlined by clear accounting and reporting features that integrate easily with existing accounting CRMs.
Who should use it:
Companies in need of rapid fund access and transparent operations will find Confirmo highly beneficial.
Pros & Cons
- Rapid settlements enhance cash flow and reduce market risk
- Transparent fees eliminate guesswork in cost planning
- Mass payout options optimize bulk transactions
- EU regulation ensures compliance and security
- Reporting features integrate smoothly with existing accounting systems
- Lack of mobile application could hinder operational flexibility
- Fee structures could be prohibitive for smaller businesses
Forbes Advisor Ratings
Featured Partners
Transaction Fee
Starting at $79
Transaction Fee
Starting price: 0.40% plus 8 cents in (person) or 0.50% plus 25 cents (online)
Pricing
$6.95 per month, 0.29% to 1.99% per transaction
How To Choose the Best Cryptocurrency Payment Gateway
The choice of a cryptocurrency payment gateway demands meticulous consideration. Not all gateways are created equal, and your specific needs could vary based on your financial goals, business model or user preferences.
Here’s how to navigate through the labyrinth of options:
Essential Features
- Transaction Speed: The swiftness with which a gateway processes transactions can be the dividing line between effective and ineffective solutions. Quicker transactions result in improved user satisfaction.
- Supported Cryptocurrencies: A gateway that supports multiple digital currencies offers more versatility. Think beyond Bitcoin and Ethereum; consider newer cryptocurrencies that are gaining traction.
- Fee Structure: Transparency in costs is nonnegotiable. Whether it’s transaction fees or maintenance costs, knowing what you’ll be charged can affect your bottom line.
- Mobile Compatibility: In an age of ubiquitous smartphones, a mobile-responsive gateway is almost mandatory. Ensure that the gateway works effortlessly on various mobile operating systems.
- Scalability: As your operations grow, your chosen gateway should be able to scale with you. This often relates to the system’s ability to handle a larger volume of transactions without performance degradation.
Types of Supported Transactions
- Peer-to-Peer (P2P): This transaction type is often the go-to choice for individual users or small-scale businesses. In a P2P setting, transactions occur directly between two parties, without the involvement of a centralized authority or intermediary. This setup is advantageous for its simplicity and minimizes fees, making it well-suited for businesses with straightforward transaction needs or for personal use.
- Business-to-Business (B2B): In contrast to P2P, B2B transactions are designed to accommodate the complexities of larger organizations. Companies that deal with large-scale operations or multiple business partners often require a payment gateway that is optimized for B2B interactions. Such platforms may offer features such as bulk payments, contract-based transactions or specialized invoicing tailored to the nuances of corporate finance.
- Point-of-Sale (POS): This type of transaction is specifically tailored for retail settings and physical stores. POS capabilities allow businesses to accept cryptocurrency payments in a real-world context, much like conventional cash or card payments. A payment gateway with robust POS features can integrate directly with existing retail hardware, offering options for QR code scanning, digital receipts and even inventory tracking. These functionalities not only make it convenient for customers but also add another layer of efficiency to the retailer’s operations.
Ease of Use
- Navigability: How quickly can a new user adapt to the platform? The learning curve should be minimal.
- Dashboard Features: Detailed yet straightforward dashboards can significantly simplify tracking and management of transactions.
- Multilingual Support: For businesses with a global footprint, language should not be a barrier.
Additional Decision Factors
- Security: A nonnegotiable aspect. Look for features such as two-factor authentication and cold storage options.
- Integrations: A payment gateway that can integrate with other business software provides added utility.
- Customer Support: Ensure there’s accessible and effective support for troubleshooting and guidance. The absence of effective support can be a deal-breaker during urgent scenarios.
Methodology
To provide an unbiased and accurate ranking of the Best Cryptocurrency Payment Gateways, we have devised a meticulous methodology that assesses providers on various fronts. Our scoring system gauges each payment gateway on the parameters listed below, cumulatively contributing to an overall score out of a possible five stars.
App Reviews (15%)
- App Store Star Rating (iOS, iPadOS): Evaluated the average star rating on the Apple App Store to determine user satisfaction on Apple platforms.
- Play Store Star Rating (Android): The star rating on Google Play Store serves as a metric for user experience on Android devices.
- Mobile App: Additional qualitative analysis of the mobile application, including its functionality and features.
Customer Reviews (10%)
- Trustpilot Rating: Incorporated reviews from Trustpilot to measure general user satisfaction.
- G2 Rating: Reviews from the G2 platform were analyzed to gauge reliability and performance.
- Capterra Rating: Customer feedback from Capterra helped in understanding the product’s business applicability and overall worth.
Service And Support (10%)
- Is Live Chat Available?: Immediate support availability through live chat was considered a value-adding feature.
- Knowledge Base/Help Center: Assessed the extent and quality of self-service support resources.
Pricing (25%)
- Are Crypto Transaction Prices Shown on the Website?: Transparency in cryptocurrency transaction pricing.
- Starting and Highest Fee per Transaction (Crypto Only): Evaluated both the entry-level and peak transaction fees for cryptocurrency payments.
- Starting Fee per Transaction (in Cents): Investigated the minimal fee in cents for beginning a transaction.
- Lowest Published Plan Price (Annual Billing): Cost of the most affordable plan on an annual billing cycle.
- Free Trial of Any Paid Plan: Availability of a free trial period for any of the paid plans.
- Free Version Available: Investigated if a functional free version is available for users.
General Features (25%)
- Cryptocurrency Support: Assessed the types of cryptocurrencies supported, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
- Support for Multiple Fiat Currencies: Whether the gateway allows transactions in various fiat currencies such as USD, GBP, etc.
- E-Commerce Integrations: Capability to integrate with existing e-commerce platforms.
Additional Features (15%)
- Unlimited Monthly Transactions: We considered whether each platform permits unlimited transactions within a given month. This aspect is essential for businesses that have a high volume of transactions and don’t want to be hamstrung by limitations.
- Invoicing: Our evaluation took into account the availability of invoicing features, which streamline financial management and simplify accounting tasks.
- Multi-User Login Access: We looked at the capability of each platform to accommodate multiple users under a single account. This feature is particularly useful for businesses that have multiple employees managing payments or financial operations.
- API Integrations: We assessed the platform’s ability to interface with other software through APIs. A platform’s flexibility in this regard can enhance its utility by allowing for seamless interactions with other key business applications.
- Reports: Our investigation included an examination of the reporting features each platform offers. Depth and utility of these reports can be pivotal in helping businesses make data-driven decisions.
Frequently Asked Questions (FAQs)
Yes, one of the advantages of cryptocurrency is its borderless nature, which allows for international transactions without currency conversion fees. However, be aware that regulatory frameworks for cryptocurrency transactions can differ from country to country.
Security protocols can vary among different payment gateways, but many employ advanced encryption and two-factor authentication. Some even offer insurance coverage for digital assets stored within the platform. Ensure that you select a gateway that adheres to the highest security standards.
Some, but not all, cryptocurrency payment gateways offer support for recurring payments. This feature is beneficial for subscription-based business models, but its availability depends on the specific gateway you choose. Always check the feature list to confirm.
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