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Crypto-currency has become quite popular these days, especially from the year 2016-17. Though it has gained recent popularity, it is not something new for the people who are well-versed with the world’s digital currency scenario.
Bitcoin was the first cryptocurrency, and it was developed on the technology named as the blockchain. Satoshi Nakamoto, a Japanese techie, was the investor of Bitcoin. Since its inception, the value of Bitcoin has risen quite steadily and regularly. From the year of 2017, the value of crypto-currency, especially the Bitcoin, surged rapidly.
In the year 2017, the price of a single Bitcoin had become equal to $20,000. From a mere $1000 value in January 2017, the price of this crypto-currency had turned $20,000 in the month of December of the same year. Since then, investors have started considering the Bitcoin as a serious investment option. To invest in Bitcoin or cryptocurrency, you need to learn about the crypto-currency wallet app. This is a virtual wallet, where you can store your crypto currency safely. Wallets offer crypto-currency payment gateway, which helps the users to make cryptocurrency transactions effortlessly and safely.
What Is Crypto-currency Payment Gateway?
Crypto-currency payment gateway can be defined as the payment gateway through which merchants can accept crypto-currency payments from the buyers. In most of the cases, eCommerce stores or merchants offer conventional payment gateways. That means buyers can make payments through bank transactions, debit cards, credit cards, etc.
As crypto-currency is getting popular with the advent of time, various online sellers have started accepting the Bitcoin or other crypto coins. To accept the crypto money payments, sellers should incorporate the crypto-currency payment gateway on their website.
Why Businesses Should Have Crypto-currency Gateway?
Having a cryptocurrency payment gateway can benefit a business in different ways. Nevertheless, Bitcoin is getting popular as an alternative currency option. Many people have started holding wealth in Bitcoin or other crypto coins. Since buyers want to make payments through crypto-currency these days, sellers have to offer the facility to their customers or clients. The benefits of crypto-currency gateway for online businesses are discussed below.
- Crypto-currency has become a new way of making payments for shopping for online goods. So, giving a crypto-currency payment gateway is a strategy for a business to lure more customers.
- People always love to have various alternative options. Having different options for payment will enhance the purchasing ability of the buyers.
- Bitcoin payment is regarded as the safest payment method, as the transaction is recorded on the blockchain ledger. Paying through crypto-currency is a safer option than paying through debit and credit cards.
- For credit card transactions, merchants have to pay a small commission amount. With crypto-currency, no such commission fee is required to be paid. Both buyers and sellers do not need to pay any processing fee. So, having a crypto-currency payment gateway is a win-win situation for both buyers and sellers.
Best Crypto-currency Payment Gateways
In the following section, the most trusted crypto-currency gateways are listed. If you want digital wallet solutions through crypto-currency, knowing these payment gateways will be helpful.
#1 Coinbase
In the United States, Coinbase is regarded as the largest Bitcoin exchange. Not just in the USA, this Bitcoin exchange operates as a secured Bitcoin payment gateway throughout the world. It is needless to say that the payment gateway is extremely popular among the online merchants, as buyers trust Coinbase. For sellers or merchants, Coinbase is beneficial due to its flexibility and trustworthiness. It can function as a crypto coin payment gateway. Also, it can work as conventional payment gateway. As a result, integrating this payment gateway to the eCommerce website is a cost-effective option for the sellers.
#2 Coingate
Like Coinbase, this is another globally popular cryptocurrency payment gateway. Along with Bitcoin, this payment gateway supports around 40 other crypto-currencies. For every transaction, the payment gateway charges a 1% commission from the seller. This charge is standard and also affordable for the sellers.
#3 Shopify
Shopify is known as one of the most popular crypto-currency payment gateways. A lot of eCommerce stores prefer having this payment gateway for its user-friendliness and trustworthiness. It has a professional customer support department. Sellers can obtain quick technical assistance in case of any glitches with the payment gateway.
#4 BitcoinPay
BitcoinPay is also a popular Bitcoin payment gateway. The most interesting thing is that the payment gateway comes with a cheaper commission fee. While the other gateways charge a 1% commission fee from the merchants, this payment gateway only charges mere 0.8% commission fee from buyers.
#5 BitPay
BitPay is popular for its cool features as a payment gateway solution for the Bitcoin and other crypto coins. This payment gateway makes the withdrawal simpler for the merchants. This is why it is preferred by many eCommerce owners.
In conclusion, it has to be said that crypto-currency is getting a popular concept with the advent of time. Thus, having a crypto-currency payment gateway is always a good thing for the eCommerce merchants.
