Bitcoin payments are at an all-time high, and the reasons might surprise you — after all, we’re only just coming out of a long, difficult crypto winter. With overall crypto payments up 39% from last year, it’s essential to reflect on the benefits of the blockchain. With diminishing community trust in centralised systems and countless instances of local hyperinflation — such as that occurring in Argentina — traditional users of the fiat banking system are rushing to push their funds into decentralised crypto wallets. Moreover, in an ever-increasingly globalised world, the speed and convenience of exchange-driven P2P networks have never been more critical to the average user.
These benefits and more have meant that there’s now an influx of users looking to make payments in Bitcoin and other cryptocurrencies. As such, there are great opportunities for merchants looking to accept online payments – aside from the lower fees, increased cross-border potential and lack of chargebacks, bitcoin payment gateways allow merchants to capitalise on the growing demand for crypto payments.
That’s why, today, we’ll be discussing the 5 crypto payment gateways of 2023 for businesses.
1. CoinsPaid
At the top of our list, today is CoinsPaid – the obvious choice for seasoned merchants. Currently, it’s the biggest Bitcoin processing gateway in the world by volume, managing around 8% of all on-chain transactions. CoinsPaid is an EU-licensed payment processor which enables its merchants to engage in both the hands-off approach, where instant fiat conversions are made, and the hands-on approach, where a crypto business wallet is set up to both take and make payments in digital currencies.
Aside from providing a range of rate guarantees, affiliate programs and discount schemes with the CPD token, CoinsPaid is one of the most price-competitive solutions on the market, serving its merchants with a tasty 0.8% fee. Another significant advantage is a variety of assets supported. CoinsPaid offers its clients top 30 cryptocurrencies to choose from, with 20 fiat currencies as standard.
Regarding the security and legality of service, CoinsPais pays extra attention to maintaining a transparent and secure environment. Thus, the platform has 2 risk-scoring systems to detect suspicious activity while passing independent security and financial audits regularly. Moreover, CoinsPaid fully complies with AML/KYB regulations, allowing businesses to accept crypto payments legally and conveniently.
2. Coinbase
Coinbase’s Bitcoin payment processing gateway is the exchange journeyman’s choice. Of course, the brand is known for its crypto exchange, with around 110 million retail users worldwide. But, many don’t know that its component payments gateway, while not the most popular on the market, is a stable, flexible choice for merchants accustomed to the Coinbase ecosystem.
The cryptocurrency payment gateway offers custom checkout options with a growing list of supported crypto assets, flexible invoices to easily bill customers across a variety of industries, and a turnkey API to create custom workflows and user experiences, in addition to business reporting capabilities and helpful analytics.
Most importantly, Coinbase is a trusted member of the crypto world, meaning customers can gain peace of mind while using their Bitcoin payment gateway. Over 11,000 institutions around the world are actively using Coinbase as part of their processes, and security has traditionally been gold-standard. For this reason, Coinbase takes number 2 on our list today.
3. Blockonomics
Blockonomics is the developer’s choice, being one of today’s most technologically advanced options. The Bitcoin payments gateway is immutable and requires no third-party authentication or additional API setups for the enablement of transactions. Multiple patents protect this unique system.
When users visit a merchant portal that utilises the Blockonomics payment gateway, it’s as simple as scanning the QR code on the website.
While the Blockonomics crypto payment system only supports Bitcoin and Bitcoin Cash natively, convergence with Shapeshift allows it to support a healthy variety of crypto assets with a 1% fee across the board. Moreover, with over 10,000 merchants worldwide, Blockonomics isn’t a small-time player.
4. Plisio
Plisio is a great choice for someone who wants to accept cryptocurrencies with no questions asked. Indeed, it is one of the easiest systems to integrate, with just a 2-minute integration time in some instances.
While staying easy to use, the crypto payment gateway provides a unique and visually-appealing interface and plenty of flexibility. Users will be able to accept over 20 different kinds of digital currencies almost immediately with negligible fees – at 0.5%, Plisio is the lowest-priced on the market. Plisio is a familiar choice for small e-commerce businesses for these very reasons, and being partnered with WHMCS, Opencart and VirtueMart, it’s an easy choice for fourth place.
5. SpectroСoin
While Spectrocoin is pretty new, it has managed to make the list today for a number of reasons. Firstly, on the customer side, the crypto payment processor is free-to-use. In the fee-ridden mine-field that is fiat banking, a stable, transparent, zero-fee provider is a gift from the skies. Next, it’s important to mention SpectroСoin’s focus on card-based payments. It allows the instant transfer of funds between fiat and crypto through the use of a card, and as such, it has become a community favourite. Lastly, there are over 25 different currencies to choose from, meaning that it still maintains good flexibility.
When we move over to the merchant side, a flat 1% fee is charged in all instances. Much like Plisio, integration is incredibly easy for e-commerce. As such, Spectrocoin is a household name for users of Magento, OpenCart, WooCommerce and PrestaShop.
So — there you have it. The best crypto payments gateways of 2023. Ultimately, the right crypto processing gateway for you will depend on the technical expertise you possess, the industry you are working in, and your expectations for fees and speed of integration. There’s little need to settle for any less than the best when accepting online payments. With CoinsPaid, you get the best of both worlds — a flexible, user-friendly and secure platform that also happens to be one of the most inexpensive on the market.
