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The 10 Best Crypto Exchange Merchant Accounts

Cryptocurrencies have experienced such exponential growth that it has earned its place in worldwide commerce and finance in a short span of time.
Even Bitcoin, the first and still most important cryptocurrency, has debit cards for online purchases as well as ATM withdrawals. This is known as virtual, or crypto payment processing.
Despite their ever growing popularity, cryptocurrencies are considered high risk from banks due to their volatility in value. Specifically, their value is determined by what people are willing to trade for them.
However, more and more business owners are recognizing the need to jump onboard to take advantage of this currency as its use has become more widespread by both businesses and consumers alike.
If you are in the market to find a cryptocurrency merchant account, take a look at these 10 cryptocurrency merchant account providers to best meet the needs for your business.

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SMB Global

Started in 2016, SMB Global is a merchant account services provider located in South Jordan, Utah.  SMB specializes in working with high risk merchants and those who are seeking an offshore merchant account. It seems to cover a vast array of high risk industries, including adult entertainment, collections, fantasy sports, online furniture sales, and so much more.

The Pros

SMB offers payment gateways, integration with over 175 third-party online shopping carts, ACH payments, a suite of automated chargeback services, and business loans. Cost will be higher than average, due to high risk, but still reasonable.

The Cons

Will be required to sign a three year contract with an “automatic renewal clause”, and an early termination fee, which is around $500. Customer service is by phone and email. Hours of availability not listed. No 24/7 support is problematic for merchants outside the US. 

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Easy Pay Direct

Headquartered in Austin, Texas, Easy Pay Direct is a merchant account provider founded in the year 2000. It primarily works with high risk merchants. EPD offers a great selection of wired and wireless terminals, POS systems, and mobile payment systems that can be sold at wholesale prices instead of leasing.

The Pros

Easy Pay Direct has an extensive network of processors which increases the chances of being approved for a merchant account. Their gateway is a powerful product that is compatible with many online shopping carts and is equipped with Level 1 PCI-compliant security. Other perks include developer resources and merchant cash advances. It does not charge an early termination fee.

The Cons

Pricing structures are not disclosed on the website. However, they do charge using a tiered pricing plan, which will definitely mean getting locked into a three year contract. 

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Founded in 2017, HadePay is a tech startup that provides a full payment and business management solution. It features point of sale, hardware, checkout, accounting, customer management, and payment technologies that equip merchants to accept payments from anywhere. It is owned and operated by ODP Solutions, Inc., and it claims to be the only “payment service that enables digital currency and fiat currency payment in one place”.

The Pros

HadePay’s specialties include mobile payments, blockchain payments, digital currency exchange, custom payment selections, product and inventory management, reconciliation and transaction analysis, chargeback resolutions, easy registration and setup.

The Cons

Negative reviews about HadePay and its services are practically non-existent. The only complaint found was about a merchant having trouble registering on the platform. Only two emails and a phone number is provided for customer support. No reference to the best time to call or when to expect a reply is given.

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CyoGate Merchant Solutions

CyoGate, based out of Boynton Beach, Florida, offers credit card processing tools for online and mail order Bitcoin businesses. Founded in 2007, they provide domestic and international solutions as well. Although CyoGate is well acquainted with the risk and volatility associated with Bitcoin, they assure merchants that their merchant account will never be terminated. With a vast number of “offshore network” merchant processing partners, CyoGate can offer high risk merchant solutions at much lower costs.

The Pros

Low rates on international high risk merchant accounts are another benefit. It also offers Mail Order and Telephone Order (MOTO) and its own payment gateway called, “Cyogate Internet Payment Gateway”. Additional solutions include mobile payment processing, electronic invoicing, and chargeback prevention.

The Cons

Negative reviews about CyoGate were not found. A phone number and a contact form were the only support information given. There was no information about hours of operation.

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PayNetSecure is a Las Vegas-based merchant account provider that services both domestic and international, high-risk e-commerce businesses.  It offers bitcoin merchant services for crypto exchanges, dealers, and other companies that sell virtual currencies.

The Pros

PayNetSecure offers the following features and benefits for its merchants: quick approvals, an extensive banking network that is friendly to high risk businesses, high risk ACH and Echeck payments, Level 1 PCI-DSS high risk payment gateway, chargeback prevention and mitigation services, and highly-trained customer service reps.

The Cons

Very little information can be found about PayNetSecure’s contract terms. Even less information about whether it charges an early termination fee or a PCI Compliance Fee. Negative reviews about PayNetSecure and its services could not be located. They do offer 24/7 phone support and a contact form on its website, but not much more information is provided.

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Host Merchant Services

Started in 2009, Host Merchant Services holds offices in both Newark, Delaware and Naples, Florida.  HMS provides merchant accounts for ecommerce and in-person businesses. It also creates “specialized” accounts and custom-made pricing for businesses of all sizes, non-profits, and high risk.

The Pros

Some of HMS’s offerings include credit card terminals, a virtual terminal, a payment gateway, mobile processing, Point of Sale (POS) systems, integration with a variety of shopping carts, gift and loyalty cards, web hosting, Referral programs, merchant cash advances, and PCI compliance. There are no monthly minimums. No application or setup fees. No long-term contracts or early termination fees. Interchange-plus pricing is clearly displayed. Excellent customer support.

The Cons

Very few negative reviews were found. The only one that was reported was that a third-party vendor failed to halt automatic billing long after HMS had closed the merchant’s account.

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A leading Internet Payment Service Provider (IPSP), Verotel has been in business since it processed its first transaction in 1998. Verotel was awarded Payment Institute status, the first high risk IPSP with such distinction.
Based in the Netherlands, Amsterdam, Verotel’s account offerings are specifically tailored to the needs of both small businesses and larger merchants.

The Pros

Some of their great features include: competitive rates and high volume discounts, free monitoring tools to review sales and manage accounts, cardholder support for online credit card transactions, weekly payouts, accepts a wide range of payment options, no minimum processing requirement, and a free Remote User Management software.

The Cons

Most complaints aimed at Verotel include poor or unattainable customer service. Customer service is absolutely critical for when merchants need assistance in a timely manner. There are also reports of billing errors, and even sudden termination of accounts. These issues can drastically affect the profitability of any business.

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Founded by leading global payment expert Patricia B. Weber and payments industry veteran, Jared Ronski, MerchACT has been providing payment solutions to high risk industries for 15 years.

Headquartered in Boca Raton, Florida, MerchACT specialises in UK Crypto Currency products and services.

The Pros

Some of the benefits and features of their merchant accounts include: in-house support, PCI Compliant gateway, fraud tools, chargeback management and reporting, no application or setup fees, MerchACT directly processes the merchant account, long-term partnership through life of the account, assistance with global expansion, multi-currency options, SSL Encrypted Servers, all major credit card acceptance, recurring billing, safe and simple API system, and high volume merchant account facility.

The Cons

The only way to get in contact with the company is via email or the contact page on their website. Merchants need more ways to be able to speak to an actual person, especially for more complex issues. Chat and a direct line to a representative would be highly beneficial.

Furthermore, their acquiring banks are known to terminate merchant accounts based on volatility of sales.

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Located in Portsmouth, New Hampshire, Instabill was founded in 2001 by CEO Jason Field to help high risk merchants secure credit card payment solutions, including crypto currency merchant accounts.

The Pros

Crypto Currency merchant benefits include: easy person to person transfers, no debit/credit card or PIN use, a convenient storage solution on your PC or smartphone, traceable transactions to deter fraud. Instabill has unveiled a new payment solution that allows players to purchase a game of their choice: online slots, poker or blackjack, through a gift card.

The Cons

Due to Instabill’s focus on high risk accounts, it may feature tiered pricing, early termination fees, and PCI Compliance fees. Most complaints against Instabill are about the company’s fraud prevention policies. Merchants report cancellation of their merchant accounts or withholding funds.



Headquartered in Atlanta, Georgia and headed by CEO and Co-Founder Stephen Pair, Bitpay is the largest bitcoin payment processor in the world. It provides payment processing services for bitcoin merchants on six continents.

Founded in 2011 and backed by top investors, including Sir Richard Branson, Bitpay allows merchants to receive blockchain payments from all over the world. The only fee to receive blockchain payments is a flat 1% processing fee.

The Pros

Features and services offered by Bitpay include payment buttons, a hosted checkout, embedded invoices for the website. They can also settle funds to the merchant’s bank account using ACH. It also includes multi-user login access, email billing tools. Ecommerce, donation, and retail payment tools, automatic payment exception handling, and Quickbooks IIF download.

Bitpay supports settlement in 12 currencies and direct bank deposit in 37 countries. Cryptocurrency settlements are provided in over 200 countries.

The Cons

Although merchants are free to terminate their service without having to pay fees, Bitpay does hold on to funds. There are also complaints about complicated payment and refund procedures. Another common complaint is poor and unhelpful customer service.

Provider of the Month

Why SMB Global

At SMB Global, we take special care to understand and accommodate the unique needs of the high risk merchants and industries that we work with.  We strive to be the single source of information for business owners to help them get approved for a high risk merchant account, maintain their account, and start growing their business.

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