According to reports, the current global cryptocurrency market is valued at $984.61 billion, experiencing a 3.65% increase in a day. Cryptocurrency is likely going to dominate the payment market in the future, so it isn’t surprising that businesses are now switching to Cryptocurrency payment getaways alongside the traditional ones.
In definition, there is not a lot of difference between the traditional payment gateways and cryptocurrency payment gateways. The only standout point is that the cryptocurrency payment gateway accepts cryptocurrencies.
Are you looking for the best payment gateways in the market? Well, you have come to the right place.
Table of Contents
1. Why Should Merchants Accept Cryptocurrencies like Bitcoin?
Despite the initial launch of cryptocurrency almost a decade back, it has become a frontrunner in the public eye this year. With the meteoric rise in Bitcoins’ popularity, merchants have become a lot more familiar with cryptocurrency concepts. But, why should you accept cryptocurrencies as payments?
Let us walk you through some benefits:
● It has reduced transaction fees compared to credit or debit cards.
● It encrypts complete privacy of transactions.
● It has global accessibility.
● It enables PR and generates a new customer base.
● It reduces the risks of explicit frauds.
● It enables instant payments globally.
Make sure that your acceptance of cryptocurrency is always done with caution. Be prepared for the volatile markets and ensure that you familiarize yourself with cryptocurrency basics before choosing cryptocurrency payment gateways.
2. What are the Best Cryptocurrency Payment Gateways?
We intend to provide our readers with the best list of cryptocurrency payment gateways. For that, we have compared and assessed the services from a few payment gateway companies and enlisted their benefits down below for you to make the final decision.
Bitpay
With the foresight of the growing popularity of cryptocurrencies, Bitpay was established in 2011. The sudden growth in Bitcoins’ popularity also paved the way for developing this payment gateway company. The company functions under the U.S jurisdiction and is ideal for both the medium and large businesses to handle their transactions.
Features Overview:
● 1% commission for the transactions
● Settlement in Fiat currencies
● Eight supported coins
● Instant global payments
● No chargebacks or ID theft
● Zero price volatility
Hashbon
Coming round to the next option, we have Hashbon, a cryptocurrency payment gateway that started their operations in 2016. It is one of the best platforms for European jurisdiction that propagates small and medium businesses’ growth. It is also a very secure, prompt and easy to integrate system that enables smoother businesses’ operations worldwide.
Features Overview:
● 0% transaction commission for bitcoins; 0.5% for other cryptocurrencies
● Settlements in Fiat currencies
● 30 supported coins
● Instant global payments
● No chargebacks or risks of frauds
● No volatility risks
● Blazing fast integration
Coinpayments
The last on the list is Coinpayments, which specializes in the bitcoin payment gateway. It is a good way of payment collection for small or medium business owners who offer their products or services online.
Features Overview:
● 0.5% transaction fees
● Fiat conversion
● Instant global payments
● 2000+ supported coins
● No chargebacks or frauds
● Simple integration
3. Conclusion
Before wrapping up, we wanted to share our favorites. If you are working under the U.S jurisdiction, we’d suggest you opt for Bitpay that enables easier transactions in cryptocurrency and USD, directly to your bank accounts.
If you work under the European jurisdiction, we’d suggest looking into Hashbon, enabling easier transactions in more than 30 crypto coins, directly to your bank accounts in Euro and Fiat currencies. All the options mentioned have an effortless integration procedure to the business models, saving the accessory resources, which are quintessential for the small and medium businesses.
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