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Best cryptocurrency payment gateways for 2021

Cryptocurrencies have already become a part of our lives, with more and more businesses starting to accept Bitcoin and other cryptos as payments. That's why receiving cryptocurrency as payment might benefit your company and attract new customers to your product.

While it seems like a complicated process, receiving crypto is straightforward if you know the steps to take. Almost any online store or platform can be set up to accept Bitcoin as payment - as long as you integrate a quality cryptocurrency payment gateway.
What is a cryptocurrency payment gateway?
It's a service that does the following:
Receive cryptocurrency payments sent by your customers
Processes the crypto and deposits it in your merchant balance
Allows you to sell it and convert it to fiat
The last point is crucial and found in just some crypto gateways, such as CoinsPaid. In order to instantly exchange received cryptocurrencies to fiat, the processor needs to lock the Bitcoin rate and make an instant exchange to deliver your money. Just as importantly, a quality processing service generates unique addresses and IDs for every user, making it easy to retrieve the receipts and other documentation required for accounting and tax reporting - something that can't be done using a regular blockchain wallet.

We have taken the time to curate the top cryptocurrency payment gateways based on their experience and professionalism. Our list dives into the features of each payment gateway, including their solutions and fees.

1. Coinbase Payment Gateway

Coinbase is one of the biggest cryptocurrency exchanges on the market, with almost $4 billion in daily trading volume. It's much more than an exchange, however: Coinbase's cryptocurrency payment gateway processes large transaction volumes every month and is directly supported by WooCommerce and Shopify via a set of plugins.

Coinbase processing services are free until you reach $1 million in volume. After that, the fee is set at the industry standard of 1%.

2. CoinsPaid Payment Processing

CoinsPaid offers online businesses the opportunity to expand their customer base by accepting cryptocurrency payments. The platform supports more than 30 cryptos, including majors like Bitcoin, Ethereum, and USDT. Businesses can request fiat settlements directly into their bank accounts in 6 major currencies (no hidden fees). CoinsPaid boasts a portfolio of more than 700 merchants and over seven years of experience in the cryptocurrency industry. Their cryptocurrency payment gateway processes 5% of all on-chain Bitcoin transactions.

Apart from fiat settlements, what sets CoinsPaid apart from other crypto payment processors is the wide range of offerings. The ecosystem includes a SaaS payment gateway, multi-currency business and personal wallets with a built-in exchange that includes more than 20 currencies, and an OTC desk that allows to exchange large volumes of crypto without slippage.


CoinsPaid's numbers are impressive:
€1.25 billion worth of crypto processed in 2020 and over €2.3 billion already processed this year (August 2021)
Over 9,500,000 crypto transactions (on August 2021)
700+ merchants with 6 mln customers
AIBC Summit Awards: Payment Provider of the Year
1st crypto gateway to pass 2 security audits (Kaspersky Labs & 10Guards)
To top it all off, users enjoy the privilege of CoinsPaid's upcoming decentralized finance solutions and a great fee deduction for users who use their newly released CPD token.

3. Bitpay

Bitpay is one of the oldest operating crypto payment processors, having been operational since 2011.

Bitpay offers customers branded debit cards that can be topped up with fiat funds directly from the exchange. Users can shop with all merchants that support MasterCard, both online and in physical points of sale. If your country is on their list, you can join Bitpay's growing list of merchants using a handy API.

4. Coinpayments

Coinpayments is one of the largest cryptocurrency payment gateways in terms of processed volume. The company's main advantage lies in easy implementation: for example, their payment solution is directly supported by eCommerce platforms like Woocommerce.

Another advantage of Coinpayments are low fees that go below the 1% mark. This cryptocurrency payment gateway will perfectly fit businesses that are not looking for any complex solutions and just want to be able to receive cryptocurrencies on their website.

5. Coingate

Coingate is another major Bitcoin payments processor serving over 80,000 merchants. Coingate offers multiple solutions like crypto wallets and prepaid crypto gift cards that you can use as an addition to the payment gateway on your website.

Coingate charges a flat 1% processing fee. A key feature that makes Coingate stand out from the crowd is cold wallet storage for all assets. Cold wallets are devices disconnected from the internet; they ensure that the funds remain highly secure even if someone hacks the processing system. The downside is that cold storage may lead to slower payment processing speeds.

Conclusion

To choose the best cryptocurrency payment gateway, merchants need to go through hours of research to compare dozens of crypto payment processors that generally provide very similar services. Most companies charge a fee between 0.5% and 1%, which is reasonable due to the convenience offered.
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