Best Cryptocurrency Payment Gateways For Merchants In 2020

Best Cryptocurrency Payment Gateways For Merchants In 2020

Looking for the best Cryptocurrency Payment Gateways for your eCommerce store? Well, you found the right place and time. Many merchants across the globe are more and more opening up to digital currencies. According to HSB survey in 2020 more than 30% small and medium-sized businesses in U.S. are accepting cryptocurrency as payment for goods and services.

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Nowadays you already can pay with cryptocurrency for basically everything. Don´t take my word for this. Search yourself.

You can use world’s first bitcoin product search engine Spendabit to discover things you can buy with Bitcoin.

Companies such as popular domain registrar Namecheap, online travel agency CheapAir, VPN service provider ExpresVPN or internet retailer Overstock are among businesses who uses Cryptocurrency Payment Gateways.

As you see, my dear, now is a great time to start accepting bitcoin and altcoins as payments. Otherwise like they say, you snooze, you lose and train will leave the station without you!

What is a Cryptocurrency payment gateway?

I already wrote about crypto payment service providers in my article Online payment processing solutions for WooCommerce store.

A cryptocurrency payment gateway or bitcoin payment gateway is a decentralized payment platform that allows merchants to accept bitcoin and other crypto currencies, usually called altcoins, as means of of payment.

The decentralized structure of the system means that payments are much safer and less vulnerable to malignant attacks. There is no human factor involved and it trims fraud as well as mistakes. Once payment is registered and confirmed on the Blockchain, you cannot modify it.

Some platforms focus solely on payments within a specific cryptocurrency. However, usually decentralized payment gateway simplifies the process of sending and receiving multiple cryptocurrencies and offers a much more elaborate ecosystem that goes beyond just payments.

Usually cryptocurrency payment processors facilitate the immediate transfer of bitcoin and other altcoins into fiat currency. Fiat money is a government-issued currency such as Dollar or Euro.

Why businesses should allow pay with cryptocurrency?

There are several reasons why you should allow to your customers pay with bitcoin or any other altcoin.

Cryptocurrency helps you to bypass all the irritating bank fees typically associated with monetary transactions. Compared to a standard credit card payment, bitcoin payments are cheaper due to lower transaction costs. Usually crypto payment service providers charge a flat 0.5 – 1% settlement fee to the merchant. It is about 50% cheaper compared to 2% to 3% charged by conventional online payment service providers.

Add to the fact that payment admin and red-tape is reduced by eliminating financial middleman, and you’ve got a delightful, cross-border payment experience for consumers and merchants alike.

No more chargebacks and no more frozen accounts because of hidden terms and no more limitations due to your geographical location or nature of your business.  

Read also: Payments 101 – Common online payment industry terms and definitions

Another reason is that using the latest technology is a tremendous approach to stand apart from other businesses in the marketplace. With this you are offering existing customers new ways of paying. Besides, you can gain new customers who prefer using cryptocurrencies to pay for goods and services.

What are the best cryptocurrencies for payment?

Over a decade ago the mysterious Satoshi Nakamoto created Bitcoin. Currently there are 7,509 cryptocurrencies being traded on the market right now.

Nearly every day new ambitious crypto projects being listed on major crypto exchanges, but just a select few are practical for the mainstream world. Bitcoin and Ethereum are the most notable cryptocurrencies on the market and majority (if not all) cryptocurrencies’ code are based on either the Bitcoin or Ethereum blockchains.

Despite many pretenders to the crown, with market cap $238,843,961,561, Bitcoin (BTC) is still the most used cryptocurrency p2p payments. But there are few honorable mentions besides Bitcoin.

Ethereum (ETH)

Ethereum is a software platform established off blockchain technology in which users can trade a cryptocurrency called ether. Ether has become one of the most favored cryptocurrencies in the world. Market cap $43,752,271,804 puts it second only to Bitcoin in market share.

Bitcoin Cash (BCH)

Launched in 2017, Bitcoin Cash (BCH) intends to offer an alternative to Bitcoin (BTC). Unlike Bitcoin with 1MB data blocks, Bitcoin Cash has blocks that can store 8MB of data which allows faster and more frequent transactions with lower fees. Currently Bitcoin Cash has $4,744,695,183 market cap.

Litecoin (LTC)

Litecoin was created by Charlie Lee a former google employee in 2011. It was designed to be a peer-to-peer cryptocurrency and draws in a number of foundational similarities to bitcoin, although Lee’s intention was to solve some of its perceived issues like transaction times fees and concentrated mining pools.

As an open source project Litecoin is a commerce centric digital asset that aims to be the ideal payment method for merchants and spenders offering instant transaction confirmations and secure storage. Current Litecoin market cap is $3,669,268,042.

Tron (TRX)

TRX Tron has ambitious plans to create a decentralized internet and a platform for smart contracts and decentralized apps. It’s no secret that Tron intends to compete against Ethereum. While Ethereum is more popular than Tron, as a smart contract platform, Tron boasts some impressive features when it comes to scalability. Tron can handle 2,000 transactions per second. This is in sharp contrast to Ethereum 25 transaction per second limit.

Maybe it is not the best altcoin for payments yet, but according to several experts, it is an excellent speculative investment.

Tether (USDT)

So, you’ve heard of Bitcoin and Ethereum, but have you heard of stable coins like Tether.

Traditional crypto currencies are digital currencies that their value is based on supply and demand on a decentralized network. Stable coins, while still considered a crypto currency however are backed by fiat currencies like Dollar, Pound, Euro and yen.  

Tether was first released by a company called Tether limited in October 2014. In theory, every tether coin is physically backed by one US dollar.

You’re wondering, why were these stable coins even created? Why do we need a crypto currency that mimics the US dollar?

They were actually created to shelter people from the volatility of crypto currencies.

At this moment, Tether market cap is $16,337,058,197.

Pros and Cons of Cryptocurrency


Unprecedented Transparency

This is one of the main reasons why digital currencies offers much more possibility for societal change and liability. While the use of cryptocurrency is anonymous, the transactions themselves are all recorded on an open ledger (the blockchain). This means that the data is available to view by anybody at any time, and that’s a major advantage for those desire for a more transparent banking system.

Relatively stable and secure against inflation:

All traditional currency face inflation because of economies shift prices and governments continue to print more money. Cryptocurrencies do not experience this as much because there is a finite number of minable coins.

Low transaction fees

Cryptocurrencies have done well in eliminating third-party middlemen in transactions. And no intermediaries make it possible for you to pay low transaction fees.


Cryptocurrency is completely decentralized. This is defining characteristic of blockchain technology and cryptocurrencies.  Any cryptocurrency resists the control of central authority.

Transactions are irrevocable

This good thing for merchants, because it means, no charge backs. There are no dispute procedures and no third party with which a consumer can file complaints.


It is subject to market fluctuations:

When you accept cryptocurrencies, keep in mind it is currency but at the same time it is commodity like oil or gold which is subject to changing market prices. That is the reason why majority of people are still using cryptocurrencies only as an investment.

Cannot be recovered if lost:

Cryptocurrencies are not recoverable if lost. There are currently no mechanisms to recover lost Cryptocurrencies.

Tax Implications

The Internal Revenue Service (IRS) has specified that “virtual currency transactions” are taxable by law like transaction of property.

Therefore, taxpayers must report cryptocurrency transactions on their tax returns. It could be unclear as to how to report the value of the cryptocurrency.

How does a Crypto Payment Gateway Work?

Crypto Payment Gateways Works the same way as traditional online payment getaways, but there are two major factors differentiate them. First, a customer pays via a crypto wallet, not a debit or credit card. So, it means that customers pay in cryptocurrencies, not in physical Fiat currencies.

The process when somebody pay with cryptocurrency can be divided in 5 steps:

  • A customer selects certain goods or services and choose cryptocurrencies payment.
  • Cryptocurrency payment processor issues a merchant’s wallet address where to send a funds. Usually it is QR scan.
How to accept bitcoin payments :
  • A customer transfers the required amount of altcoins or Bitcoins from his wallet to merchants wallet
  • Customers have to wait for the necessary number of confirmations. It could take from instant to 20 min.
  • A transaction is completed. Merchants send goods or provide services.

There are two types of cryptocurrency payment gateways – self hosted cryptocurrency payment gateways and third party hosted cryptocurrency payment gateways.

Self-Hosted vs Hosted Cryptocurrency Payment Processors

Self-Hosted payment processors runs on your server and provide you with a full control over the entire payment process and funds. There is absolutely no third-party involvement – that significantly increases the censorship-resistance, privacy, and security for you and your customers.

Pros of Self-Hosted Cryptocurrency Payment Processors:

  • There is no need for a third party
  • Total privacy and security
  • No Fees
  • Full control over your funds

Cons of Self-Hosted Cryptocurrency Payment Processors:

  • Needs some extended technical knowledge
  • You need to trust the developer or check codes yourself to ensure there are no bugs.
  • Must have your own server
  • Automatic conversion to Fiat currencies is not easy.

Hosted payment processors run on someone else’s server. This makes the initial setup process easier but trims the amount of control you have over the payment process and funds.

Pros of Hosted Cryptocurrency Payment Processors:

  • No need for technical knowledge.

Cons of Hosted Cryptocurrency Payment Processors:

  • Run on third-party server
  • No total privacy
  • Fees
  • Limited control on funds

Best self-hosted cryptocurrency payment gateways of 2020

BTCPay Server

The Best Cryptocurrency Payment Gateways For Merchants In 2020 | BTCPay Server

This is private, censorship-resistant, and free open-source cryptocurrency payment processor. BTCPay Server allows online merchants to accept bitcoins and altcoins as a form of payment.

  • 0% Fees
  • Plugins for: WooCommerce, Drupal, Magento, PrestaShop
  • Requirements to run BTCPay Server: minimum of 4 GB RAM and a 500 GB hard drive.

Detailed instructions how to install and use BTCPay Server are provided here.


Best self-hosted cryptocurrency payment gateways of 2020 | BitcartCC

Also, BitcartCC is a free self-hosted open-source cryptocurrency payment processor which allows merchants to receive payments in Bitcoin and altcoins directly, with no fees, transaction cost or a middleman.

  • 0% Fees
  • Plugins for: WooCommerce
  • Requirements to run BitcartCC: minimum of 1 GB RAM and a 10 GB hard drive.

Detailed instructions how to install and use BitcartCC are provided here.


Best self-hosted cryptocurrency payment gateways | CRYPTOWOO

CryptoWoo is a decentralized crypto payment service provider for WooCommerce that gives merchants full control over the checkout process, customer data and their private keys. It enables merchants to seamlessly accept Bitcoin, Litecoin and Dogecoin at their WordPress based eCommerce shop.

  • 0% Fees
  • Plugins for: WooCommerce
  • Requirements to run CryptoWoo: PHP 5.6+ with the extensions cURL and GMP enabled, WordPress 4.3+, WooCommerce 3.0+.

The CryptoWoo free plugin uses the API and wallet service, so you need a paid account at to use it with CryptoWoo. Developers recommend use CryptoWoo together with paid HD Wallet Add-on (costs $64).

Best third party hosted cryptocurrency payment gateways of 2020


The Best Cryptocurrency Payment Gateways For Merchants In 2020 | Clockonomics

Blockonomics claims to be the only Bitcoin payment gateway that enables full decentralization in the e-commerce industry. Funds from purchases made to your website are instantly sent to your wallet. Basically, Blockonomics allows you to be your own bank. This saves you fees when taking your coins out.

  • Blockonomics is free for your first 10 transactions. After that, you’ll pay a flat 1% transaction fee for everything.
  • Plugins for: WordPress, Magento, PrestaShop, Easy Digital Downloads, Open Cart, WHMCS, Joomla/VirtueMart
  • Beyond Bitcoin, you can also accept Altcoin payments using ShapeShift

Blockonomics enables on site check out. It means, the entire checkout process happens on your website – no need to send your visitors away from your site.

BitBay Pay

BitBay Pay |

BitBay Pay is a complex, yet easy to implement cryptocurrency payment gateway perfectly for all kind of online enterprises. It’s unique platform that allows merchants accept all major cryptocurrencies as means of payment and automatically converts crypto into fiat and does so, so much more!

  • 0.5% transaction fee
  • 1.1% cryptocurrency to FIAT (EUR) payment transaction fee
  • no hidden charges
  • all major coins supported
  • plugins for WooCommerce, Magento, PrestaShop, OsCommerce, OpenCart, VirtueMart, Shoper, nopCommerce

BitBayPay is a part of BitBay group. BitBay is European cryptocurrency exchange founded in 2014.


Best third party hosted cryptocurrency payment gateways of 2020 | GoUrl

This is one of the longest-running Open Source Bitcoin Payment Gateway. If you are looking for cryptocurrency payment gateway for your high risk business and your enterprise even doesn‘t have a bank account, then, probably, GoURL is your only option.  

  • 0% Fees 
  • Plugins for: WordPress
  • GoUrl Monetiser Online Service for users without websites.
  •     Altcoin Support

GoURL offers a high degree of anonymity, something which is appealing to many users of bitcoin.


Best Cryptocurrency Payment Gateways | GoCrypto

This is cryptocurrency payment provider from Slovenia. GoCrypto allows online and offline merchants accept cryptocurrencies with ease. Company also has developed all-in-one crypto app Elly which instant buying and selling of crypto directly in the app.

  • First 3 months without fees
  • From 1.45% per transaction after 3 months
  • No hidden small print fees
  • plugins for WooCommerce, Magento, PrestaShop, OsCommerce, OpenCart, CsCart

For offline merchants company offers GoCrypto webPOS which turns every phone, tablet, or a computer into a POS cryptocurrency payment processor.


cryptocurrency payment processor | NowPayments

NOWPayments is a crypto payment service provider that lets you accept online payments in a variety of cryptocurrencies. This bitcoin payment gateways makes the process of accepting and making crypto payments simply.

  • 0,5% transaction fee  
  • Plugins for: WordPress, OpenCart, Magento 2, WHMCS
  • Donation buttons

Besides Bitcoin the platform accepts more than 50 of the most popular digital coins.


This cryptocurrency payment processor allows you accept crypto payments safer, faster and easier from around the world. With Coinremitter anyone can setup crypto payment gateway hassle free without documents.

  • 0.23% transaction fee  
  • Plugins for: WordPress, OpenCart, Magento 2
  • Automatic withdraw
  • Simply & smooth currency swap function

Coinremitter is currently supporting Bitcoin, Tether (USDT), Litecoin, Bitcoin Gold, Ethereum, Ripple, Dogecoin and Dash.


CoinPayments is one of the most popular cryptocurrency payment gateways out there. The platform integrates a checkout system for numerous cryptocurrencies. Currently CoinPayments supports 1935 altcoin cryptocurrencies.

  • 0.5% transaction fee  
  • Plugins for: WordPress, OpenCart, Magento 2, Magento 2, PrestaShop, ecwid, Hikashop, Shopify, Totamto Cart, WHMCS, VirtueMart, Ubercart, Xcart, ZenCart
  • PayByName – One unique $tag to receive payments from all coins.
  • Auto Coin Conversion

Now Coinpayments also offers coin conversion via


The Best Cryptocurrency Payment Gateways For Merchants In 2020 |

Coinbase is probably the largest Bitcoin Payment Gateway in the United States. The company is based in the United States and accordingly is required to comply to all U.S laws on currency exchanges. Coinbase can be used as a payment gateway as well as a normal exchange

  • 1 % transaction fee  
  • Plugins for: WordPress, Shopify
  • Instant currency conversion from Bitcoin into fiat currency
  • Auto Coin Conversion

Coingate offers a lineup of different additional plugins and even allows crate a bitcoin payment buttons on any website.


Payment21 | Best Cryptocurrency Payment Gateways

Payment21 is Swiss based cryptocurrency payment provider and it is the first cryptocurrency payment gateway with full regulatory compliance from the Swiss financial regulators. For online merchants Payment21® provides a fast, cheap and secure solution to accept bitcoin from their customers.

  • Very short settlements times
  • Tailored fees from 1 % per transaction
  • No hidden small print fees
  • plugins for CS-Cart (by default), Magento, Joomla, VirtueMart, osCommerce, OpenCart

as it is stated on company’s webpage, the transaction fee depends on your business model, industry, transaction status, geolocation, and a number of other factors. Payment21 also has fixed price plans, flat-fee pricing, and tiered fees.

SpicePay - Bitcoin Payment Gateways | SpicePay

SpicePay‘s unique selling element is that it permits merchants to withdraw their bitcoin payments via PayPal or standard bank transfer. Withdrawals can be made in USD, GBP, CAD or Euro depending on the merchant‘s preference. Ideal for merchants whose business relies heavily on PayPal.

  • 1 % transaction fee  
  • Plugins for: Magento, WooCommerce, WordPress, Opencart 1/2/3, Zencart, Prestashop, and WHMCS
  • Automated exchange
  • Withdraw to PayPal

Merchants in the European Union can access their funds in less than 24 hours.


crypto payment service providers | SpectroCoin

SpectroCoin іѕ a European crypto payment gateway which аllоwѕ mеrсhаntѕ tо accept Bіtсоіnѕ and process mass payments through the wallet’s e-commerce plugins and payment processing API integration. Along with fund withdraws to bank account, SpectroCoin also offers to its merchants Visa debit card.

  • 1 % transaction fee  
  • Plugins for: WooCommerce, Magento, PrestaShop, OpenCart, Drupal, WHMCS, Zen Cart
  • Instant settlement – receive your funds immediately after the client pays, no need to wait.

No chargebacks! Cryptocurrency transactions are practically irreversible, hence no chargeback risk.


B2BinPay |

Founded in 2014 with headquarters in Russia, China and Cyprus, B2BinPay is a one stop cryptocurrency payment solution which allows businesses to accept cryptocurrency payments online, safely and securely. With B2BinPay merchants can accept all most popular cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and Monero (XMR) among the others.

  • rates starting as low as 0.5%
  • no hidden charges
  • over 888 coins and tokens supported
  • plugins for WooCommerce, Magento, PrestaShop

An extremely secure and reliable cryptocurrency payment provider, that allows you to offer your customers fast crypto payment capabilities online.

Let’s wrap it up

If you are just thinking to start a new business or already have successful enterprise, you should think about how to accept bitcoin payments on your website.

Bitcoin has several benefits especially the fact that you can make anonymous transactions in a very fast manner. Also, having access to all your funds without any control from banks and other centralized institutions puts every cryptocurrency owner full control of his funds.

Some most optimistic predictions say that with smartphone transactions, half of the world will march towards cashless transactions by the year 2030 and cryptocurrencies will replace Fiat currencies.

Is that’s the case? I don’t know. But this I know for sure – cryptocurrencies are here to stay! If you can’t beat them, join them.

Read also: Best Payment Service Providers in Europe

And What do You think? Do you already accept bitcoin payments on your website?