6 Best Crypto Payment Gateways for Small Businesses
Anna is a retail expert writer for Fit Small Business with over six years of evaluating dozens of software for small business. She holds a double degree in Accountancy and Financial Management and is currently pursuing further education in financial and payment technology.
Meaghan has provided content and guidance for indie retailers as the editor for a number of retail publications and a speaker at trade shows. She is Fit Small Business’s authority on retail and ecommerce.
This article is part of a larger series on Payments.
Cryptocurrency payment gateways allow small businesses to accept cryptocurrencies (such as Bitcoin) as a payment method. Big names in commerce such as Microsoft, AT&T, Overstock, and Amazon have been accepting cryptocurrency as a mode of payment through these payment gateways.
The best crypto payment gateways offer currency conversion, have flexible settlement options and affordable transaction fees, and are easy to add to your existing website or online store. Based on our evaluation, the best crypto payment gateways for US merchants are:
- BitPay: Best overall crypto payments gateway for small businesses
- Coinbase Commerce: Best for accepting multicurrency transactions
- CoinGate: Best for accepting crypto payments with a POS
- PayPal: Best for PayPal users
- Shopify: Best ecommerce platform for crypto payments
- ALFAcoins: Best for nonprofits accepting cryptocurrency donations
What is cryptocurrency? Cryptocurrency is a decentralized digital currency built on blockchain technology. It only exists online and is not regulated by a government or other entity.
A digital wallet stores and transfers cryptocurrency from one owner to another. There are different cryptocurrency types, but the most popular and widely accepted are Litecoin, Ethereum, and Bitcoin. Skynova research shows that 32% of US small businesses have some sort of cryptocurrency payment processor set up.
Best Crypto Payment Gateways Compared
Merchant Fees | Accepted Cryptocurrency Types | Supported Fiat Currencies | Ecommerce Plugins and Integration | Settlement Options | |
|---|---|---|---|---|---|
 | From 1% + 25 cents–2% + 25 cents | 15 including Bitcoin, Ethereum, and Litecoin | 8 including USD, CAD, and EUR | 14 including WooCommerce, Shopify, and Magento | Cryptocurrency, fiat currency, transfer to local bank |
 | 1% | 150+ including Bitcoin, Ethereum, and Litecoin | 100+ including USD, GBP, and EUR | Shopify, WooCommerce, Primer, and Jumpseller | Cryptocurrency, fiat currency, transfer to local bank |
 | 1% | 70+ including Bitcoin, Litecoin, Ethereum, Dogecoin, and more | 100+ including USD, CAD, and EUR | WooCommerrce, Prestashop, Opencart, Wix, and more | Cryptocurrency, fiat currency, settle one cryptocurrency to another |
 | $0–$30 (PayPal fees), 3.49% + 49 cents | Bitcoin, Bitcoin Cash, Ethereum, and Litecoin | 100+ including USD, CAD, and EUR | eBay, WooCommerce, Magento, Amazon | Cryptocurrency, fiat currency, transfer to local bank |
 | 0%–2% (Shopify Commission), 1% (Average Gateway Fee)* | 20+ including Bitcoin, Ethereum, and Litecoin | 100+ including USD, CAD, and EUR | Built-in website builder and automation tools + eBay, Amazon, and Zapier | Cryptocurrency, fiat currency, transfer to local bank |
 | 0.99% (free for nonprofits) | 7 including Bitcoin, Ethereum, and Litecoin | Most currencies including USD, CAD and EUR | WooCommerce and WordPress | Cryptocurrency |
*Shopify ecommerce software subscription required, $19–$299 monthly
Did You Know? The first recorded purchase made with cryptocurrency was pizza. In May 2010, a person based in Florida offered a local Papa John’s 10,000 Bitcoin in exchange for two pizzas, priced at approximately $25.
BitPay: Best Overall Cryptocurrency Payment Gateway
Pros
- Simple QR code invoice
- Daily payouts
- Locked-in exchange rates
- No free processing for low-volume transactions
Cons
- Tiered transaction volume limits
- Reports of passwords disabled without notice
BitPay Pricing
- 2% + 25 cents processing fee for businesses with under $500,000 in monthly transactions
- 1.5% + 25 cents processing fee for $500,000–$999,999 in monthly transactions
- 1% + 25 cents processing fee for at least $1 million in monthly transactions
- Higher fees apply to high-risk merchants
BitPay Key Features
- QR code payment
- Daily payouts through local bank transfers and cryptocurrency wallets
- Integrates with ecommerce platforms such as Shopify, WooCommerce, Magento, and 3dcart
- Integrates with QuickBooks
- Offers volatility shield by locking in exchange rate
- Allows multi-user access
- Can set two-factor authentication
- Gateway features include creating payment buttons, accepting donations, setting up mobile POS checkout, creating recurring billing and invoice
BitPay is one of the earliest cryptocurrency platforms offering both cryptocurrency trading and merchant payment gateway solutions. Users like BitPay for its easy-to-use platform and customizable settings for security and payouts. However, what sets it apart is its volatility shield function. BitPay locks in the exchange rate applicable at the point of the transaction so users get the exact value they requested deposited into their account.
This makes BitPay ideal for merchants that only want to accept payments for goods and services and avoid having to deal with currency fluctuation that can result in loss.
How BitPay Lets You Accept Crypto Payments
BitPay allows you to set up payment and donation buttons, design hosted checkouts, and create invoices you can embed on your website. You can even set up recurring billing for subscription customers. It also has a mobile point-of-sale (POS) function if you wish to provide a cryptocurrency payment method to customers at the cash register with the BitPay checkout app. Payouts are processed daily, and you can track them from your BitPay dashboard.
BitPay displays the invoice with a QR code on your website or on your checkout device. (Source: BitPay)
How to Add Crypto Payments With BitPay
BitPay integrates with popular ecommerce platforms such as WooCommerce and Shopify by creating an API token on your BitPay dashboard and linking it to your ecommerce platform account. For POS, you only need to download the BitPay mobile app for Android or iOS and pair your app with your BitPay merchant account with an API token.
Coinbase Commerce: Best for Accepting Multicurrency Transactions
Pros
- No transaction limits
- Quick account set up
- Accepts over 150 cryptocurrency types
Cons
- Requires a Coinbase account for payouts
- Limited ecommerce integration
- Coinbase-managed account limited to US merchants
Coinbase Pricing
- 1% processing fee
- Free currency conversion and settlement
Coinbase Key Features
- Requires only an email address to set up
- Provides invoicing, customized payment buttons, and hosted checkout pages
Coinbase Commerce is Coinbase’s merchant services feature that allows small businesses to accept cryptocurrency as an alternative payment method. As the largest centralized cryptocurrency exchange market in the US, Coinbase supports a long list of cryptocurrency options. This means small merchants can accept more cryptocurrency types as payments from customers. A large exchange market also means Coinbase has the capability to insure merchant funds if they let Coinbase manage their account.
How Coinbase Lets You Accept Crypto Payments
Coinbase enables you to accept payments from your website with various options depending on your business size. Small merchants can create invoices, simple hosted checkouts, and Coinbase payment buttons. It also provides APIs for more customized payment processing. For ecommerce stores, Coinbase can be integrated with Shopify and WooCommerce.
However, unlike BitPay, Coinbase doesn’t support mobile POS functionality. It also offers fewer ecommerce platform integration options.
Creating hosted checkouts come with a simple on-screen guide to help you generate a static link to share with customers. (Source: Coinbase)
How to Add Crypto Payment With Coinbase
With a self-managed funds plan, you only need an email address to sign up for a merchant account. Once your email address is confirmed, you can start accepting payments. Ecommerce integration options can easily be added to a website with a few clicks. Developer-friendly APIs are also available for a more customized payment processing flow.
Did You Know? According to one Deloitte survey, many businesses believe accepting crypto will improve the customer experience, grow their customer base, and give them a competitive advantage. As many as 83% believe it will be considered legal tender within the next 10 years.
CoinGate: Best for Accepting Crypto Payments With a POS
Pros
- No hidden fees—just a 1% transaction fee
- Easy signup, registration, and onboarding process
- Helpful customer support
- Launching a mobile POS app
Cons
- Only legal in select states and countries
- Users report glitches with invoicing features
- Complicated verification process requiring lots of documentation
CoinGate Pricing
- 1% processing fee
- No additional hidden or cancellation fees
CoinGate Key Features
- Includes features to collect digital payments, send invoices, and convert payouts to fiat currency or keep it in crypto
- Immediately accept cryptocurrency as payment post-registration by sending email invoices
- Will include a mobile point-of-sale app ideal for retailers
CoinGate is a cryptocurrency trading platform with specific features and tools for merchants to accept this form of payment. It supports more than 70 types of cryptocurrencies in more than 100 countries, making it a top all-around and universal solution for merchants.
A flat processing fee without hidden costs make it an affordable crypto and Bitcoin payment processing provider to use. It’s even set to launch a mobile POS app for retailers looking for ways to accept cryptocurrency payments. CoinGate is also known for having top-notch customer support for merchants who need guidance.
How CoinGate Lets You Accept Crypto Payments
CoinGate is one of the crypto payment processors with a few different options to receive payment. Once you’ve registered and verified your account, you can send invoices via email which are then payable in crypto.
You can also add it as a payment option to your website’s checkout experience, or add a payment button to your website or landing pages. (Source: CoinGate)
How to Add Crypto Payment With CoinGate
You actually don’t even need to code or integrate CoinGate with your website to accept crypto payments this way. As soon as you’ve registered your account, you can send email invoices immediately—all you need is the recipient’s email address. Set the amount and currency and send it off!
If you want to add cryptocurrency payment options to your website, you’ll need to do a little extra work. If your site is on a compatible platform like Wix, Magento, or Opencart, simply download the CoinGate plug-in and add it to your website. If you’re on a different ecommerce platform, you can use the CoinGate open API to code and add it to your site. You can also create, customize, and add a payment button to things like landing pages or pop-ups.
Did You Know? As far as making cryptocurrency a “normal” accepted form of payment, AT&T is credited with leading the way. The phone/cable/internet service provider offered its customers the option to pay with Bitcoin in 2019.
PayPal: Best for PayPal Users
Pros
- Supports its own cryptocurrency wallet
- Easy signup process
- Converts crypto to local currency at no extra cost
- Tons of brand awareness and trust among consumers
Cons
- Expensive transaction fees
- Monthly fees depending on transaction type
- No volatility shield
PayPal Pricing
- Monthly fees:
- PayPal account: $0–$30
- Virtual Terminal: $30
- Recurring Billing: $10
- Recurring Payment Tool: $30
- Payment Gateway: $0–$25
- PayPal Payments Online: 3.49% + 49 cents
- Chargeback fee: $20
- Converts cryptocurrency to fiat currency when accepting payments
PayPal Key Features
PayPal has a cryptocurrency wallet that allows users to trade and complete purchases using their cryptocurrency balance. Merchants using PayPal with or without a cryptocurrency account with PayPal can offer checkout with crypto as an additional PayPal payment method. There are no extra fees for accepting cryptocurrency payments and PayPal does not charge for conversion to fiat currency. Moreover, merchants accepting this type of transaction get 24/7 fraud protection and purchase protection for qualified items.
How PayPal Lets You Accept Crypto Payments
Crypto will automatically display for customers with a sufficient PayPal cryptocurrency balance in their wallet. During payment, their cryptocurrency holdings will be converted into fiat currency equivalent to the outstanding transaction amount at no extra cost.
Your customer’s cryptocurrency balance will be converted to fiat currency during checkout. (Source: PayPal)
How to Add Crypto Payments on PayPal
Checkout with crypto is automatic as long as the customer has a PayPal cryptocurrency account and sufficient funds equivalent to the transaction amount in the local fiat currency. Merchants receive the payment in USD or their local currency.
Note this type of transaction falls under the PayPal Payment Online category and merchants will be charged 3.49% plus 49 cents in transaction fees.
Shopify: Best Ecommerce Platform for Crypto Payments
Pros
- Best-in-class ecommerce software
- Easy signup
- Integrates with multiple cryptocurrency payment gateways
Cons
- Charges third-party fees
- Requires a Shopify plan
- Not a native cryptocurrency payment processor
Shopify Pricing
- Shopify Monthly Fee: $39–$399 (billed monthly), $19–$299 (billed annually)
- Shopify Commission Fee: 0%–2%
- Supports multiple third-party payment gateways for cryptocurrency payments:
- Crypto.com
- Coinbase
- BitPay
- DePay
- OpenNode
- Strike
Shopify Key Features
Unlike PayPal, Shopify is not a cryptocurrency platform, but most online merchants recognize Shopify as the gold standard when it comes to building an ecommerce business. It comes with native website builder and ecommerce automation tools along with the best-in-class omnichannel features. Shopify can also integrate multiple third-party payment gateways, including some of the top cryptocurrency platforms.
It waives its commission fees if you sign up for a Shopify Payments plan, so it is the best option for merchants who already have a Shopify merchant account.
How Shopify Lets You Accept Crypto Payments
Shopify allows you to accept cryptocurrency payment like any other additional payment method on the platform. Your customers will recognize cryptocurrency payment gateways that support their cryptocurrency type, and if you have one available as a payment method, your customers can easily choose that option during checkout. This will take them to the crypto platform website to complete the payment and return to your store once the transaction is completed.
Shopify merchants can offer your customers a number of cryptocurrency payment options. (Source: Coinqvest)
How to Add Crypto Payments on Shopify
Shopify offers direct integration to a long list of third-party payment gateways including cryptocurrency platforms. Note that you need to have an account with whichever cryptocurrency platform you intend to include on Shopify. Choose the platform from the list you will find on your Shopify dashboard, and the system will guide you through linking your cryptocurrency account with your Shopify account.
If you don’t find your cryptocurrency platform on the list of direct integrations, you can also create a custom app using Shopify’s API, which you can install on your Shopify store.
ALFAcoins: Best for Nonprofits Accepting Cryptocurrency Donations
Pros
- Free payment processing for nonprofits
- Low transaction fees for cryptocurrency payments
- Fix rates for 15 minutes whenever you send funds
Cons
- No option for fiat currency payouts
- No option to convert to different cryptocurrency
- Limited ecommerce integrations
ALFAcoins Pricing
- 0.99% processing fee
- 0.5% for accepting donations
- 0% processing for registered nonprofits
- Network fees only for withdrawing cryptocurrency to your wallet
- 0.99% + network fee when using your cryptocurrency to make payments
- Deposit fee for some state-based blockchain
- Network fee depending on blockchain
ALFAcoins Key Features
ALFAcoins makes our roundup as the best option for registered nonprofits. Merchants can accept donations with a 0.5% transaction fee, while nonprofit organizations can contact ALFAcoins to accept cryptocurrency donations free of charge. It also does not charge any withdrawal fees (except for network fees levied by the blockchain network).
Note, however, that ALFAcoins currently does not support currency conversion (neither for fiat currency nor other cryptocurrency types). This means it also does not have the ability to deposit funds into your bank account.
How ALFAcoins Lets You Accept Crypto Payments
ALFAcoins allows you to accept cryptocurrency payments through invoicing, payment buttons, and shopping cart plugins. You can create and send invoices to your customer’s email or direct them to your website where the payment/donate buttons are located. ALFAcoins can accept Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dash, Tether ERC-20, and XRP with a 0.99% transaction fee. It also offers a volatility shield by keeping the exchange rate fixed for 15 minutes from the time a transaction is initiated.
How to Add Crypto Payments With ALFAcoins
ALFAcoins provides its users with a step-by-step guide to creating payment buttons, invoices, and shopping cart plugins. It also supports a range of APIs for a more customized design. The merchant section of your ALFAcoins dashboard includes an integration option that you can then customize—from the cryptocurrency types you prefer to receive to how the payment button would look on your website.
Specific buttons are available for accepting donations. (Source: ALFAcoins)
Crypto Payment Gateway: Frequently Asked Questions (FAQ)
Are all crypto payment gateways available in the US?
No. While most providers support conversion to US dollar currency, it does not automatically mean that the gateway is available for US merchants. CoinGate, for example, is only available for merchants within certain US states (Alabama, Arkansas, Arizona, Iowa, Kentucky, Maine, and Mississippi).
Meanwhile, NOWPayments’ user agreement section 4.1 includes the United States of America (including all US territories) among its list of prohibited jurisdictions. Make sure to check the provider’s website for this type of restriction beforehand.
Is it safe to accept cryptocurrency payments?
Cryptocurrency payments are not subject to chargebacks, so you don’t need to worry about chargeback fees or fraudulent transactions. You can also opt for payment gateways like Coinbase that offer to insure their user’s funds.
Can I convert my cryptocurrency sales into my local currency?
Yes, most crypto payment gateways support conversion into your preferred fiat currency and even deposit your funds into your local bank account via ACH or wire transfer.
How long does it take before I receive funds into my account?
Like most payment gateways, it takes two to three business days for withdrawn funds to reflect in your bank account.
How do I create a crypto payment gateway?
- Choose a crypto payment gateway
- Register for a merchant account
- Validate your account
- Integrate the payment gateway with your website or send invoices via email
Bottom Line
One report found that nearly 80% of crypto consumers already send money via a Bitcoin payment gateway to pay for online and in-person purchases. Merchants need to begin adopting this payment method to enjoy a share of the revenue. If you have a small business, there are a number of reliable crypto payment gateway solutions that can help you start accepting cryptocurrency payments in no time.
