Accepting cryptocurrency in a website: Top gateways to consider
Cryptocurrency is an internet-based medium of exchange which uses crypto-graphical functions to carry out financial transactions. Cryptocurrencies make use of blockchain technology to gain decentralization and transparency.
Cryptocurrency is not controlled by any central authority due to the decentralized nature of the blockchain which makes cryptocurrencies obviously immune to governmental control and interference.
Importance of cryptocurrency to online business
Cryptocurrencies can be sent directly between two parties via the use of private and public keys. These transfers can be done with minimal processing fees, allowing users to avoid too much fees charged by traditional financial institutions.
Today cryptocurrencies have become a global phenomenon known to most people. In this guide, we are going to tell you all that you need to know about accepting cryptocurrency on your E-Commerce website
Currently, it is hard finding a major bank, a big accounting firm, a prominent software company or a government that can allow all users to leverage their firm and accept money online without undergoing much and unending verification, but with cryptocurrency, you can easily accept money from any part of the word to your personal wallet with ease.
AVAILABLE CRYPTOCURRENCY PAYMENT GATEWAYS
An exchange acts as the trading ground for investors, while a payment gateway allows them to facilitate transactions in cryptocurrencies. Although the choice is abundant in the cryptocurrency market, you have to choose the most suitable ones for your business.
The decision to choose a payment gateway is just as vital as choosing an exchange and your primary cryptocurrency. Therefore, we have put together a list of comprehensive payment gateways offering the best payment services that we knew. Simply go through the list and choose the most suitable one for your transactions.
Currently, there are many cryptocurrency payment gateways that you can easily use in your website to accept money from your clients/customers. But in these guide we are going to be looking at the ten major of them which are majorly recommended by our clients.
The list are in the order of our client’s recommendation.
Coinbase is one of the largest cryptocurrency ventures worldwide. It offers amazing features to optimize the use of cryptocurrency exchange.
The platform can be used both as a payment gateway and a standard exchange. You can convert the crypto-coins into flat currency, and the payments are made within 2-3 days, making it a good choice.
Read more: How to integrate Coinbase in your website
With a wide user base and a friendly app, Coingate helps you to have access to your account at often time. You also get support for over 40 cryptocurrencies, allowing a wide range of choices. The transaction fee is 1% and takes about one hour to complete.
Read more: How to integrate Coingate in your website
A payment gateway with a clean past is a rare sight in the cryptocurrency industry, and that is why CoinsBank is a gem. The app is available on different OS and supports every major cryptocurrency over the world.
You get the option of free currency transfer to friends and family all the time. The option of trading at live market prices increases your chances of scoring a profit, proving how it is the best in class.
Read more: How to integrate CoinsBank in your website
AlfaCoins facilitates the partial division of transactions within crypto and fiat currency. This way, you can save up some funds from your profits. The transaction fee is barely low at .99 % with the support of global availability except for North Korea and Iran.
Shopify is simply the industry leader in the payment gateway. The platform can be easily set up and offers ample customer support. The platform can be considered the best, with the only limitation being the necessity to make a Shopify trader/merchant account for the payments.
Read more: How to become a Shopify merchant
BitPay facilitates the feature of setting custom withdrawal speeds, making it one of a kind. It is simple to use and is beginner-friendly as well. The daily threshold is 1,000 dollars, with the annual one being 10,000 dollars. After that, a transaction fee of 1% is charged, allowing you to save up considerable funds.
Read more: Bitpay integration in your website
With the simple API functionality, GoCoin is one of the best options for developers. It supports the Shopify plugin and charges just 1% transaction fee as well. The platform extends its reach over multiple counties, making it another contender as the best payment gateway.
Read more: How to integrate GoCoin in your website
The platform proposes the cheapest transaction fee at a mere .8 %. The transactions are still quick, and its analytics are simply top-notch. With the plugin support for Magneto, OpenCart, WooCommerce, and PrestaShop, the platform is great.
Read more: How to integrate BitcoinPay in your website
The platform allows you to accept cryptocurrencies without even a bank account. It supports bitcoin transaction cards, and its plugin over WordPress is sleek. Despite everything, its lack of support for direct bank transfers takes away from it becoming the best in its domain.
Read more: How to integrate GoUrl in your website
One of the best things about SpicePay is its capability to withdraw funds over debit cards and PayPal. Although the Euro payments take some time, the 1 % transaction fee makes up for it. The platform is an efficient one, but some of the aforementioned alternatives offer a lot more than SpicePay.
Read more: How to integrate SpicePay in your website
The lists can be endless if we choose to unravel all the cryptocurrency payment gateways available, but the above lists should be able to include the one that can serve you best for your business to accept money from your clients/customers on your website.
We have also taken the time to give a bit insight into each payment gateway and a link to the exemplary codebase which you can use as a guide to tackle all the features required by each payment gateway
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