Bitcoin and other cryptocurrencies have already become an integral part of our daily lives, with many firms accepting them as means of payment in recent years. If you accept bitcoin as a form of payment, it might be beneficial to your company and help you get new customers.
It may seem difficult at first, but obtaining bitcoin is a straightforward process if you know what steps to take. Almost any online company or platform may accept Bitcoin as payment if it uses a reputable cryptocurrency payment provider’s gateway. This is true regardless of industry. It's possible that bitcoin payments might save money in the face of rising credit card fees, but they're also very volatile.
There were just a few crypto payment providers in the market a few years ago. A large number of examples may be cited. Currently, experts are debating which of the many payment gateway providers is the easiest and the safest. Among the top crypto payment providers on the market, we looked at six of them. For each organization, there are different advantages, traits, and a specific target market.
Reasons for Businesses to Accept Cryptocurrencies
Allowing clients to pay with crypto has a lot of advantages. Bitcoin is an attractive payment option for e-commerce businesses for a number of reasons:
• Provide new payment methods to current consumers
• Gain access to new customers who want to pay for products and services with cryptocurrency
• Provide clients with a discreet payment option (no unsightly credit card bills)
• To assist promote the cryptocurrency revolution by lowering the expenses associated with other payment methods like as credit cards.
List of the Best Crypto Payment Providers
B2BinPay
Since its inception, the firm has amassed a sizable client base and won several industry awards. B2BinPay immediately became popular and one of the world top crypto payment providers because of the growing demand for bitcoin payments. Thus, it has become an increasingly popular payment option for manufacturers. High-speed financial transactions will benefit from a slew of new features and capabilities that have been added to this latest edition of the software. The new user interface makes common chores like depositing cash and checking transactions much simpler to do. For customers, cutting-edge technology may provide a more full and feature-rich crypto-processing solution, which guarantees they have the most delightful user experience possible.
With Version 2.0, retailers and businesses will have new options. Customers may choose the currencies they want to receive. The payment gateway is perfectly suitable with the needs of company owners due to this additional capability for automatic conversion. Company owners may elect to convert their foreign currency to fiat currency in order to avoid market volatility. Stablecoins may be used to mitigate risk in a number of ways by converting all digital currencies to stablecoins. All digital currencies, including Bitcoin, Ethereum, and others, are founded on the same core premise. It is the job of business owners to supervise the management of the assets received by their businesses.
BitPay
Although Bitcoin is a young technology, BitPay has been involved in cryptocurrency payments for over a decade. Among its many satisfied clients are the American Red Cross, Take-Two Interactive, and Shopify. Coinbase, for example, is a sophisticated cryptocurrency payment provider that allows not just retail transactions but also cashouts and bill payments.
BitPay's retail payment system is based on a straightforward QR code invoicing technique. At this point, things begin to become interesting. BitPay's goal is to protect companies from market volatility by locking in the exchange rate at the moment of purchase. BitPay will then aggregate each day's sales and transfer any remaining money to your bank account or bitcoin wallet, as applicable. As long as the payment is in fiat currency, this technique enables you to accept cryptocurrency payments without ever having to touch the coin.
NOWPayments
The growing cost of credit card interchange has prompted many firms to explore for methods to reduce transaction expenses. NOWPayments has among of the lowest costs among cryptocurrency payment gateways, if you don't mind receiving your money in the same currency as the payment you made.
NOWPayments is one of the most basic bitcoin payment providers on our list since it does not have custodial capabilities. More than 50 different currencies are accepted by this payment method, so you should be able to cover most of your needs if you want to branch out from the typical suspects. You'll pay transaction fees starting at 0.5 percent and decreasing as you generate more money in sales each month (measured in BTC, incidentally). A 0.5 percent charge will be added to your account if you choose to pay in a currency other than the one you were paid in. Fixed exchange rates are also offered, which protects you from volatility while boosting the base rate by 1%.
You may question why you can't simply use peer-to-peer networking instead of this simplified service. This service's best feature is its compatibility with so many e-commerce systems, including as Shopify, Magento, and WooCommerce. As a result, using NOWPayments to collect payments online is a simple and affordable operation.
CoinsPaid
Making bitcoin and other cryptocurrencies available for acceptance as payment is now feasible thanks to CoinsPaid. Bitcoin, Ethereum, and USDT are just a handful of the 30 cryptocurrencies that are supported by the platform. It is possible to make payments directly to the bank accounts of companies in six different currencies (no hidden fees). CoinsPaid has more than 700 merchants on its books and has been in the bitcoin industry for more than seven years, according to their website. Their payment gateway for forex brokers is used to handle 5% of all Bitcoin transactions that take place on the blockchain.
CoinsPaid distinguishes itself from other cryptocurrency payment processors by offering a wide range of services. Additionally, there is an over-the-counter desk that allows for enormous sums of cryptocurrency to be traded without any slippage, as well as a SaaS payment gateway, multi-currency business and personal wallets, among other features.
AlfaCoins
Although AlfaCoins charges 0.99 percent transaction fees rather than the customer's 1%, the 0.01 percent difference is unlikely to be a determining factor in your decision to use them as your bitcoin gateway. AlfaCoins' versatility is bound to pique your interest.
When you utilize AlfaCoins, you retain considerable control over the events that occur throughout the transaction. Isn't this transaction subject to a 0.99 percent fee? You may pay for it yourself or pass the expense on to your customer. For the first 15 minutes after the production of an invoice, your exchange rate will be protected from volatility. The CoinSplit feature enables you to pay a part of an invoice in one cryptocurrency and the remainder in another (including fiat). This enables shops to control the amount of bitcoin exposure their consumers get in a single transaction.
Coingate
With over 80,000 companies utilizing its platform, Coingate is another major Bitcoin payment processor. It's possible to accept cryptocurrency payments on your website by using Coingate's cryptocurrency services, such as bitcoin wallets and prepaid cryptocurrency gift cards.
Coingate charges a 1% one-time fee for each transaction. In contrast to the competitors, Coingate's usage of cold wallets to hold all of its assets sets it different from the rest of them. In the event of a cyberattack on a processing system, cold wallets guarantee that money is safe since they are not linked to the internet. The downside of cold storage is that it may delay down payment processing.
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Top 6 Сrypto Payment Providers in 2022 - Finextra
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