The 10 Best Cryptocurrency Payment Providers

A cryptocurrency payment is considered a “decentralized payment platform” that allows users to not only send but to accept payments in cryptocurrency.

Cryptocurrency payments greatly improve the payment process by minimizing the number of third-parties involved. It also facilitates the use of digital currency on a regular basis. 

With the growing adoption of cryptocurrency worldwide, more consumers are apt to use digital currency as their payment method of choice. They also will have peace of mind, knowing that their transactions via a cryptocurrency payment are safe and secure.

We have compiled a list of the 10 best cryptocurrency payment in the US to help you understand the advantages and drawbacks of some of the largest providers.

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Pinwheel Pay

As leaders in providing merchants with viable solutions, Pinwheel Pay helps merchants navigate the complex challenges that traditional payment processors are unable to address. It’s offerings include intelligent payment routing, multi-currency processing, and conversion. Now, it’s utilizing the growing force of cryptocurrency by accepting Bitcoin as a method of payment to its merchants worldwide.

The Pros

Pinwheel Pay offers a host of fraud prevention features such as Level One PCI Compliance, technology-focused and accessible APIs and SDK, as well as custom financial technology solutions. 

With their cryptocurrency payments, they are able to deposit funds within 24 hours. The merchant can choose from over 120 fiat currencies, including in US dollars. Also, the Bitcoin to fiat exchange rate is secured at the moment of sale, and therefore the merchant does not need to worry about fluctuations in the market. 

It also integrates smoothly with popular e-commerce powerhouses such as Square, Wix, and Shopify.

The Cons

Cryptocurrency payments is a new solution from Pinwheel and we do not have any cons to share as of now.

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Coinbase

Considered the largest Bitcoin exchange in the US, Coinbase is also known to be the biggest global exchange in cryptocurrency. Based in San Francisco, Coinbase is required to obey US laws pertaining to currency exchanges. It is due to this that the company has established itself as one of the most reliable and dependable exchanges.

The Pros

Coinbase provides instant currency conversion from Bitcoin to fiat currency. Merchants do not need to make special requests to withdraw. There are no fees for this exchange up to $1 million of transactions. Beyond that, there is a merchant fee of 1%.

All transactions settle into the merchant’s account within 2 to 3 days.

The Cons

Coinbase only operates in a limited number of countries around the world. Not all cryptocurrency is available for trading. Wait times after purchasing can also be too long. Fees for both withdrawing and depositing money tend to be higher.

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CoinsBank

CoinsBank is a Bitcoin payment processor based out of Belize. The platform is licensed, user-friendly, and features advanced trading options such as “stop-loss and take-profit orders”.  It is available for mobile device use with its free, downloadable apps for both iOS and Android.

The Pros

For large volume traders, the app features a “one click instant deposit and withdrawal” capability. Another perk is that CoinsBank provides transfer of currency for free to friends and family 24/7. In addition, transactions are carried out at “live market rates”. This gives users control of their funds.  

Wallets are more secure, given the two-factor authentication system they provide. Furthermore, a 24-hour customer support team is ready to assist and resolve any issues.

The Cons

There are only a limited number of cryptocurrencies that are currently supported. Rates for withdrawals and deposits are expensive. Within the regions of its operations, it is not regulated.

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AlfaCoins

Founded in 2013, AlfaCoins is a trusted Bitcoin payment provider. It offers a special feature where payments can be split into cryptocurrency and fiat currency. Based on the “market depth” of diverse exchanges, AlfaCoins provides a cryptocurrency rate system that awards its merchants with the best rates.

The Pros

AlfaCoins currently accepts Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Dash or XRP and Litecoin Testnet. Its transaction fee is on the lower side at 0.99%. In addition, the subscription fee is free and there are no fees to install the Bitcoin payment system. AlfaCoins can be used in any country throughout the world, with the exception of North Korea and Iran. Funds can be withdrawn in either Euros or US dollars.

The Cons

AlfaCoins does not offer $1 million worth of transactions free of charge.

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Shopify

A world-renowned and powerful online store, Shopify, provides the most dependable cryptocurrency payments.

Thanks to its innovative technology, many of its merchants can now accept Bitcoin payments worldwide.

The Pros

With friendly and accessible customer support, setup is easy. Shopify’s platform is packed with features, including APIs that facilitate integrations with BitPay and Coinbase. This makes crypto payment processing clear and simple.

The Cons

In order to take advantage of the payment processing capability, merchants are obligated to register for a Shopify merchant account. Transaction fees are not clear as they are based on who the merchant chooses as their payment processor.

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BitPay

Based in Atlanta, Georgia and founded in 2011, BitPay is a cryptocurrency payments platform that facilitates the acceptance of Bitcoin payments. One of its features, a mobile checkout process, allows buyers to have their funds transferred from their Bitcoin wallet to the merchant’s bank account. BitPay works in over 38 countries.

The Pros

One of BitPay’s most unique features is the BitPay card that works as a Debit/Credit card. This card enables you to use Bitcoins anywhere that Visa is accepted. Merchants can also elect “withdrawal transaction speeds” to any timeframe desired. The platform also offers two-factor authentication, direct bank deposits, ledger payment tracking, and email invoicing.

The Cons

BitPay limits its live support to larger companies. As a result, it only offers email support to most of its merchants. Although merchants are free to cancel their service with BitPay whenever they please, they should expect funds to be held back.

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Confirmo

After acquiring BitcoinPay in 2019, Confirmo has endeavored to accept payments quickly worldwide, with minimal chargebacks and fraud. Headquartered in London, Confirmo offers the lowest transaction fees currently on the market.

The Pros

There are no monthly fees, no costs for the initial setup, and no commitment required. Their charge is only 0.8% per transaction.  It also offers “two fee modes”. With their payout solution, you can automatically send crypto payments from available US dollars or Euros balance. The entire process takes just a matter of seconds to complete.

The Cons

There are inactivity fees that are charged for a prepaid service.

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GoURL

Established in 2014, GoURL is an online cryptocurrency payment solution providing its services to merchants worldwide. With a current customer base of more than 18,000, they continue to attract more clients to use their Bitcoin/Altcoin gateway.

The Pros

The main draw to GoURL is that website owners and vendors can receive Bitcoin payments directly into their wallets, without the need for a bank account and therefore, no need to convert the funds into fiat currency.

They also offer a WordPress plugin that is highly valued, making it one of the best payment gateway plugins available. Managing orders is a breeze as GoURL provides payment breakdowns that are clear and straightforward. Payments are processed within 30 seconds and are dependable.

The Cons

GoURL will not release funds if the amount is less than 0.01 BTC.

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GoCoin

Founded in 2013, GoCoin is considered one of the most enduring blockchain payments and invoicing platforms in the world today. Through GoCoin’s services, merchants are able to receive Bitcoin Cash, Bitcoin, Dash, Litecoin, Ethereum, and EOS as methods of payment. Their cryptocurrency payments operate at an international level, offering security and flexibility without chargebacks, payment fraud, or volatility in the market.

The Pros

Fiat or cryptocurrency settlements are fast and convenient, charging only 1% on most transactions. Because it offers an easy API, developers can easily integrate with other platforms. The platform itself offers a client dashboard, offering “reporting functionality”, easy access to one-on-one technical support, and customization. Plus, merchants can easily get in touch with their merchant services manager for any questions via e-mail or phone.

The Cons

Both businesses and merchants may need to provide more documents for KYC.

Provider of the Month

Why Pinwheel

Pinwheel Pay offer a strong foundation of custom-built technologies that are reliable, secure, and that allow our merchants to operate at the highest level of effectiveness and efficiency

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