Best Crypto Payment Gateways for Digital Business 2024
Every Business is evolving digitally, as they are already taking Bitcoins as Payment and Fees. This is only possible due to the rise of the cryptocurrency payment gateway system. Nowadays, retailers are accepting digital currencies like BTC and ETH as forms of currency or payment. As a result, companies from small to big ones have already started to incorporate the crypto payment gateway platform as a tool for digital transactions.
Also, this crypto payment gateway system manages the conversion of both digital to fiat currencies and vice versa. So, it has already solved all the issues that are present in the earlier way of transactions. The quicker and safer transactions are the reasons that drive the growth of many crypto payment gateway platforms. This all led to the need to create a stunning Crypto payment gateway platform as a business model.
As a business idea for a startup or entrepreneur, this cryptocurrency payment gateway platform offers profits in terms of revenue. So eventually, every business person is admired to start one that creates both branding and profits for them. But, there are many crypto payment gateway platforms that are rising in the market and getting attention among business people.
For those people, who are confused about how to choose the best crypto payment gateway platform for business, this blog will help you with that. Let me begin with the basics…
What is a Crypto Payment Gateway?
Cryptocurrency payment gateway acts as a bridge between the merchant and the customer for payment processing and enables safe and secure transactions between them. To be straight, they are similar to online payment services. When a customer initiates a payment request, your payment gateway platform will receive the request. Then, transfer the crypto assets from the customer account to the recipient’s wallet address.
However, some recipients prefer to receive payments in their native assets. To overcome this, your crypto payment gateway should support major crypto assets like Bitcoin, Ethereum, and more. Furthermore, these transactions are borderless. That means anyone from anywhere can connect with your payment gateway for crypto payments. The customer does not need a bank account and has restrictions in fund transferring. So as a merchant, you will gain financial and business benefits from such global transactions. This confirms that the cryptocurrency payment gateway is a ‘Global Business Model’ for business people.
Now you will be excited to create a cryptocurrency payment gateway? Before that, let me spill some beans on the…
Perks of Starting a Cryptocurrency Payment Gateway Platform
Generally, startups prefer to know the business benefits and advantages, before starting any business. Accordingly, Let me reveal the business benefits of creating a Crypto Payment Gateway Platform. They are,
Global Reach
As I stated earlier, the cryptocurrency payment gateway is a worldwide business. So you can easily establish your business in global countries and set up your service offerings as per the client’s requirements. Thus you can bring new customers to your business on a daily basis.
Quicker and Secure Transactions
As the crypto payment gateways perform transactions between two parties (customer or user and merchant), there is no third-party involvement like banks to delay the payments. Moreover, the transactions are protected with advanced end-to-end SSL and TLS encryption strategies. Also, all transactions are stored in the blockchain. Therefore you can establish quicker and safer transactions for your users.
No Need for Technical Knowledge
You don’t require deeper technical knowledge or experience to create a cryptocurrency payment gateway. You can easily create one by getting assistance from the best crypto payment gateway developers in the digital industry. So that the payment processor will execute transactions automatically when the required verifications are done. So you feel more at ease in your business.
Reduced Risk
The crypto payment processor ensures that the transactions are quicker and safer. So both you and your user don’t worry about cryptocurrency’s price volatility. Furthermore, the users are not required to reveal their identity for transactions. Thus there is more privacy for users and reduced risk than traditional payments.
Convenient Payment Options
You can launch your cryptocurrency payment gateway that works with multiple crypto assets. Some top bitcoin payment gateways like CoinPayments offer auto coin conversion features. Additionally, their services are available in the mobile app, browser extensions, and web platforms. Similarly, you can provide your users with customer-friendly payment solutions.
High Return On Investment
Transaction fee is the main source of income for bitcoin payment gateway platforms. The fee range of the best crypto payment gateways starts from 0.5% of the transaction value. So with the long-running payment service, you will yield a high ROI.
These prime benefits confirm that crypto payment gateway development brings a solid future for your business. You can also integrate your payment gateway with other businesses like trading platforms, e-commerce services, online payments, gaming, and investment services to make substantial profits. So if you desire to use them for such services, it is essential to understand how the best crypto payment gateways perform in real time. Hence let us explore the..
Top 8 Cryptocurrency Payment Gateways in the Market
The customer prefers crypto payment gateways as they offer safer and more convenient transactions. By providing straightforward and instant payment, top crypto payment gateways carry trust among users. And help the merchants to make decent revenue through exclusive service offerings. Accordingly, below are the best crypto payment gateways shining in the crypto space.
Coinbase Commerce — Beginner-Friendly Interface
‘Coinbase’ is not just a crypto exchange or a wallet but a brand well-recognized by global traders. In their lineup, Coinbase Commerce is a cryptocurrency payment solution that governs payments across diverse online services. Any customer can use their plugins for Shopify and Woocommerce payments. The platform services come with a flat 1% fee for transactions, withdrawals, and currency conversion which is the prime source of income for them.
NOWPayments — Low Transaction Fees
NOWPayments offers an online crypto-payment solution that makes it easy for various commerce activities. It is unique from its counterparts by supporting Private Key Management and mandatory 2FA authentication. NOWPayments is ideal for E-Commerce, Gaming and Gambling, and trading platforms due to lower fees. The fee range starts from 0.5% of the total transaction value garnered from transactions, currency conversion, Exchange, Mass payouts, and Fixed Rate Exchange options.
Blockonomics — Provide 20 Free Transactions
Blockonics is a decentralized payment gateway that only facilitates Bitcoin payments. The customer can transact with Bitcoin and Bitcoin cash with this payment gateway. This payment gateway doesn’t require KYC formalities and provide free transaction upto 20 bitcoin transactions. Despite Blockonomics only supporting Bitcoin transactions, it manages to make decent revenue similar to other platforms with access to 10,000+ e-commerce merchants globally.
CoinGate — A Unique Place for Multiple Operations
CoinGate payment gateway comes with more dominant features than the crypto payment gateway should have. This platform allows users to buy, trade, list, and accept multiple crypto assets. Each transaction involves a transaction fee of 1% of the total transaction value. CoinGate offers multiple e-commerce plugins that allow flawless transactions in E-commerce payment. So CoinGate never deprives its owner short of revenue generation.
SpectroCoin — Crypto Loan Facility
SpectroCoin is also a multi-currency-supported payment gateway that is equipped with wallet and exchange features. Additionally, it provides a native debit card that allows users to transact at their convenience. The user can also get crypto loans from this platform. Meanwhile, this payment gateway charges 0.5% of the transaction amount as fees. However, the lower transaction fee doesn’t limit its revenue potential as it provides wider service offerings.
CoinPayments — Auto Conversion Feature
One of the largest and top crypto payment gateways in the crypto sphere is CoinPayments. Being the payment partner of leading crypto industries, CoinPayments gives users demanding features in a single platform. Along with payment processing, CoinPayments allows users to store assets in their wallets in their required currency format. All these transactions are accountable for a minimal fee of 0.5% which is the revenue of this platform.
BitPay — Multiple Platform Compatible
BitPay is one of the oldest and best crypto payment gateway known for its bank payouts. It is the payment gateway that supports mobile and web platforms. As it is built with a secure API, the user can enjoy secure seamless transactions across its platforms. In addition to payment processing, users can buy crypto assets with Bitpay debit cards. Moreover, they can keep their assets safe at the inbuilt wallet storage. Bitpay charges 1 to 2% transaction charges for all its transactions.
ALFAcoins — Multi-Functional Payment Gateway
ALFAcoins is one of the top crypto payment gateways that supports multiple crypto assets. This payment gateway platform supports an auto token conversion feature that secures users from price volatility. Also, the users can perform transactions at a minimum fee of 0.99%. Providing easy connectivity to users through multiple plugins ALFAcoins keeps itself the best payment gateway.
Payment processing is the typical function of Crypto payment gateway platforms. In this respect, these top crypto payment gateway platforms are unique with their prevalent features. Each platform follows separate revenue-making strategies to stand ahead of other competitors.
However, you might wonder what makes them stand out from others right!!
Recently, many crypto payment gateway platforms are involved in various transaction processes, particularly in E-Commerce platforms. So, most of the crypto payment gateway platforms are upgrading themselves to adapt with E-Commerce platforms. For that, they integrate Ecommerce plugins, which support these platforms and make huge revenue. Now, you will be surprise to know,
How is a Cryptocurrency Payment Gateway ideal for E-Commerce Websites?
The E-Commerce industry is growing with simple and convenient purchasing options for customers. However, it requires a flexible payment gateway to collect payments from customers at their doorstep. Below are the reasons why crypto payment gateways are perfect for E-Commerce transactions.
Easy Checkout
The online survey revealed that the major reason for order rejection in e-commerce platforms is due to a lack of proper Payment Gateways. To rectify this, the best crypto payment gateway comes with customer-friendly payment options. Like the user can pay online or at the point of sale (POS). As a result, the order failures are reduced significantly.
Diverse Payment Option
While placing an order customers have multiple payment options to pay for an order. That includes QR Code scanning, Debit card payments, and wallet payments. Further, the customers can access cryptocurrency payment gateways for 24/7 service hours. Most of the top crypto payment gateways offer ECommerce plugins that are connected with shopping carts. This feature further simplifies the shopping experience.
Payment Security
Security is the prime factor when it comes to online payments. To overcome this, the best crypto payment gateways are equipped with PCI DSS security standards SSL — TLS protocols. Also, it addresses the verification of security features. Thus they are enabled by cryptocurrency security standards (CCSS) to process payments securely.
Reduced charges
Crypto payment gateways are working in a decentralized manner. Hence there is no need to pay a processing charge. Also, there is no chargeback if the payment gets returned. Furthermore, the customers are assured of fraud prevention that does not possess any fees.
Transparency
With decentralization, the merchant and customer can keep their transaction records of the crypto payment gateway. Since all the transactions are transparent, there is no discrepancy in transactions.
Thus cryptocurrency payment gateways fulfill the E-Commerce requirements through their simple and safe payment processing. They provide the advantages of crypto transactions to customers to keep them connected for future payments. The physical and remote digital payments further enhance your customer’s convenience. As a result, you can grow with active users and financial stability as a merchant. That’s why many merchants prefer to create crypto payment gateway with E-Commerce plugins.
So are you ready to create a Cryptocurrency Payment Gateway Platform for your business?
Then let me share the ways of developing one.
How to develop Crypto Payment Gateway Platform Effectively?
With global accessibility and borderless transactions, crypto payments become the future of the financial system. However, security risks and data breaches are major concerns ahead of crypto payments. This is the point where every business needs secure and innovative crypto payment gateways.
So, developing a crypto payment gateway platform from professionals will be the best choice. You can find those blockchain experts in the leading cryptocurrency payment gateway development company which fulfills your development needs. In general, The company provides two prominent methods of launching a crypto payment gateway platform. They are,
Cryptocurrency Payment Gateway Development from Scratch
This is the method to launch a crypto payment gateway from the ground up. That means all the platform features and functions are built from the base level. This method allows you to integrate your ideology into each and every component of development. Starting from designing to development, your business goal will be reflected in every aspect. However, you need to put in a lot of effort and groundwork to complete the development. This method is best if you have enough resources to create the platform from ground level.
The next method is,
White Label Crypto Payment Gateway
If you are looking for quicker entry into the crypto space, white label cryptocurrency payment gateway development is ideal for you. Here you have options to customize the platform functions as per your business requirements. Also, the white label payment gateway software is flexible to adopt large-scale operations. Since the white label software is a ready-to-go solution, the development process is simple and cost-effective. Due to this, the entire crypto payment gateway development will come under your budget and constraints.
These are the methods the company offers you to create a cryptocurrency payment gateway Platform. Choosing the best method is completely your decision based on your business needs and goals. However, to meet the technical capabilities and face real-time challenges, seeking professional guidance is essential. A reputed crypto payment gateway development company and their expertise will help you in this regard.
Upshots!
So far, we have analyzed the benefits and methods of creating a cryptocurrency payment gateway. After knowing the benefits and its diverse industrial applications, especially in the e-commerce sector, you may understand how a crypto payment gateway is the best business model. The global cryptocurrency payment gateway market size projected to reach approximately 5 billion USD between 2023 to 2029 also confirms the statement as true. So for startups and entrepreneurs looking to build their dream cryptocurrency payment gateway business, this is the right time for them. However, consider the future upgrades and real-time assistance to keep your business profitable in the future. So get connected with a prominent crypto payment gateway development company to begin your build your-business Journey!
