Online shopping is more popular than ever before thanks to the pandemic that has forced many people to stay at home. Due to necessity as well as for convenience, shoppers are forced to use online marketplaces to fulfill many of their requirements for shopping.
With the increasing popularity of cryptocurrency increases, it is becoming increasingly beneficial for online retailers accepting it as a method of payment.
However, how do you begin accepting crypto payments in your online store? Bitcoin as well as other altcoin payment gateways are the solution to this, since they take much of the responsibility off the hands of businesses and provide a ready-to-use infrastructure that retailers can use into their online marketplace.
There are many different types of payment gateways that aren’t to be equal, so CryptoVantage has created the top cryptocurrency payment gateways that meet your specific requirements.
Our Top Crypto Payments All-In-All: NowPayments.io
Now Payments accepts a variety of cryptocurrency than Bitcoin however, of the most popular Bitcoin payment processors It is also the one that offers price reductions for large volumes.
With Now Payments charges starting at 0.5 percent per transaction. However, being able to have 50 BTC equivalent to the volume of transactions over a month, that decreases to 0.45 percent. There is a the reduction increasing to 0.4 percent once you’ve reached the 100 BTC equivalent.
Now Payments accepts a wide range of altcoins too, offering customers many options to pay through an online merchant using Now Payments and helping to push transaction volume up , and reducing costs.
Other cryptocurrencies that are accepted by Now Payments include: Cardano, Solana, VeChain, Avalanche, Shiba Inu, and many others.
- Now Payments is a non-custodial option to pay online sellers
- More than 50 cryptocurrencies that are compatible with NOWPayments.
- It is extremely easy to exchange between different crypto assets
- It is a simple method to accept online cryptocurrency payments
Our Top Crypto Payments For Beginning Users BitPay
One of the most renowned Bitcoin payment services, BitPay was established in the year 2011, when BitPay was founded.
While it began as it was a Bitcoin and Bitcoin Cash payment service, BitPay has expanded, currently supporting a range of currencies and tokens, including BTC, DOGE, ETH, XRP, SHIB, USDC and more.
BitPay is charged a flat one per cent fee without charges for merchants who utilize its blockchain-based payment gateway.
BitPay is the best choice for new merchants because of their long-lasting and ready-to-use tools, and support for merchants.
While the other payment gateways that are on this list may have less expensive fees and are able to accept more crypto currencies, BitPay has a proven track record and the details in place to assist merchants setup crypto payments on their website easily. Furthermore, BitPay supports a huge variety of fiat payment options for payments.
Payouts That Are Popular That Accept Altcoins: Crypto.com Pay
Making waves by launching ads featuring Matt Damon and LeBron James, and agreements with sports partners across all industries, Crypto.com’s Pay service is our top payment option for altcoins.
It’s not because it supports the largest number of altcoins, since it’s only compatible with a bit more than 30 (NowPayments can support a few hundred) instead, it’s due to the fact that there are no charges for transactions or set-up fees for using the Crypto.com Application.
Merchants can accept various altcoin payment options without worrying about transaction costs. Additionally, those who have CRO stakes CRO stake get 10% cashback when they shop and making payments using Crypto.com Pay.
This means that they’ll probably prefer paying through Crypto.com Pay to receive rewards. Merchants can attract customers who prefer altcoins by using Crypto.com for their payments processor.
Our Top Payouts Specifically For Americans: Coinbase Pay
With its headquarters with its headquarters in San Francisco and complying with US regulations, Coinbase Pay is our preferred payment processor that is a must for American merchants.
With an unbeatable 1% fee along with integrations to Shopify, Coinbase Pay allows merchants to accept seven cryptocurrency for payment on their websites. Payments can be made either in dollars or USDC.
Coinbase Pay additionally makes it simple by offering an API that merchants can turn on and utilize which allows them to begin setting up and using Coinbase Pay in just a few minutes.
The currencies which Coinbase Pay supports are: BTC, LTC, ETH, BCH, DOGE, USDC, and DAI. If you choose to use Coinbase Managed, you can only use the Coinbase managed option (they manage your keys) it is possible to accept BTC as well as ETH and USDC.
Our Top-Favorite Payments for Europeans We love Binance Pay
Inaccessible not available in The UK, US, or Singapore, Binance Pay is our preferred option in the eyes of European customers. Merchants can use Binance Pay to get “the most affordable transaction fees” but Binance does not specify where those charges are.
Whatever, Binance Pay allows merchants to build APIs and check-out pages. It also offers additional services like an SDK which allows users to create their personal checkout experience with Binance Pay.
Binance Pay lets you accept over 50 cryptocurrency and stablecoins, without charges on the part of the user. Merchants are able to choose the cryptocurrency they wish to receive payments in. When withdrawing funds from Binance there are fees for network transactions to be paid.
Our Top Choices For Payments With Low Fees Coin Payments
Coin Payments could have been listed in our top choices, since they offer a huge array of coins supported, charge minimal charges for Bitcoin and are available to merchants in every major country, which includes the US.
Coin Payments has a simple 0.5 percent fee for all transactions. They charge nothing more than network charges.
The initial $15,000 of payments each month are free whatsoever, and then the 0.5 percent rate begins. Making withdrawals of your money is only an expense for the network and is very cheap.
Coin Payments lets you accept hundreds of tokens and crypto coins. Merchants can access APIs for checkout pages, checkout pages and point of sale tools as well as many other tools. They also have an app for mobile that lets you to keep track of your sales wherever you go.
What Is The Reason For Crypto Payments?
At the end of the day, cryptocurrency payments are just another method of allowing people to make payments for your services which is usually not a problem.
The benefits of crypto-based payments is the assortment of the following benefits:
- Low cost (Many crypto transactions cost only pennies)
- Speedy (Cryptocurrencies are becoming more and more efficient, with some being settled in just a few seconds)
- Better value store (Fiat currencies have experienced record-breaking levels of inflation)
There are, of course, certain disadvantages. Certain older cryptocurrency (such like Bitcoin as well as Ethereum) have comparatively high transaction costs and may be slow.
However, layer-2s or sidechains are helping with these problems and platforms such as Lightning Network. Lightning Network make BTC transactions relatively easy.
The main drawback to Bitcoin is it’s very unpredictable and a purchase of $100 BTC could be worth only $75 at the time it’s over. However, it could also be worth $125 when you’re looking to invest for a long time, it’s likely to work out.