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How to Accept Bitcoin: Crypto Payment Solutions for Merchants Image by anncapictures from Pixabay

How to Accept Bitcoin: Crypto Payment Solutions for Merchants

By  The Dubrovnik Times Feb 27, 2021

If you are a merchant who trades in bitcoin or any form of cryptocurrency, then chances are you have had difficulties receiving funds into your e-wallet. That situation can get frustrating, and many times the merchant may feel demoralized.

However, worry no more because the solution is at hand. Here, in this post, we shall look at some of the most convenient crypto payment solutions of 2021. Do not be left behind and have to undergo the ordeals of having to relive the experience of delayed payment processing periods.

Here are some of the best crypto payment solutions for merchants - 

1. CMM Pay

The CMM pay service is a non-custodial service based in Britain. It is a relatively new payment service because it was launched earlier this year. Commercium (CMM) is the only crypto supported but is garnering additional assets as the days progress. The service is easy to use, and setting up an account only uses up about five minutes of your time.

Their standard payment processing fee is only 1%, but during the Covid-19 period, this fee was waived in a bit to cushion merchants from the pandemic's adverse effects. Lastly, they have a 24-hr customer support unit and various other metrics to suit the client's needs.

2. Atomicpay

Atomicpay is another non-custodial payment application that can support up to 7 cryptocurrencies. Some include BTC, BHC, DASH, and LTC. If you are looking for a user-friendly payment application that is completely hassle-free, Atomicpay is the one for you.

The application can offer price conversion into over 150 fiat currencies. Additionally, you do not have to worry about the privacy policy because they have inbuilt privacy practices that uphold clients' safety.

That is not all; the application can also be integrated with an eCommerce module to create payment buttons to attach to your website. Lastly, the application levies a 0.7-0.9% fee on every transaction you make.

3. Coinbase Commerce

The third payment solution for online merchants is the Coinbase Commerce service. It supports over five cryptocurrencies, including BCH, LTC, ETH, BTC, and USDC. Further, the service does not charge any fee for any transactions made. That is convenient for any person desiring to trade but also at the same time avoiding various transaction costs. The user interface is neatly designed thus very easy to use.

Lastly, the service has over 2000 merchants and allows fast payouts in casinos. Therefore, if you are a gambler, do not worry.

4. 8Pay

The 8pay payment solution is very dynamic and suits many merchants because of its numerous features. The service operates on the Ethereum Network and facilitates an on-demand recurring payment system between the customer and retailer. Therefore, this feature enables merchants to create subscription-based payments for their services and goods.

Additionally, this service also offers payment buttons to integrate with an eCommerce site, creating convenience for your clients. It can also generate payment links and invoices at the touch of a button. Therefore, you will not have to struggle to generate invoices and other recurring calculations.

5. Bitcoin Cash Register

Developed by Bitcoin.com, the Bitcoin cash register is a mobile application available on the android and iOS platforms. It is a simple mobile application that lets you create payment channels through your phone. All you need to do is input the public key to the BCH wallet, and you are good to go.

However, this application only accepts the BCH cryptocurrency; thus, all other forms are disregarded. Despite this application's setback, all other aspects of the application are convenient to the merchant.

6. Blocknomics

Here, this service only accepts the BTC cryptocurrency. Further, it is a non-custodial solution for all merchants. The user interface is friendly and suitable even for beginners. However, this service does not have many features.

The only two prominent features of this service, the first one is the eCommerce plugins it offers online merchants. The plugins can generate invoices and payment buttons to use on your site. The other feature is the ability to accept BTC into your wallet. That is the basic summary for Blocknomics.

7. BitPay

Bitpay is a US-based payment solution that is meant for any business module. Whether you are online-based or run a physical store, you can integrate BitPay as it accepts 12 cryptocurrencies listed. Additionally, it is a robust API that consists of seven in-built libraries.

Further, it has 22 solutions for eCommerce websites. That means, if you run an online shop, this service might come in handy. Other features include an easy user interface, fixed-rate prices, and guaranteed exchange rates.

Lastly, this platform allows you to accept payments from clients worldwide. That is because Visa accepts BitPay. Online merchants can receive compensation directly into their bank accounts (this service is available in 37 countries, always check if it supports your country).

8. CoinGate

If you are looking for a service that accepts numerous virtual currencies, CoinGate might be the one. It receives over 50 virtual currencies, including bitcoin, litecoin, and even Ether. 

The service charges only a transaction fee of 1% and has no hidden fees or margins. Additionally, they have numerous integration tools such as payment buttons shopping plugins that will simplify your eCommerce business.

Lastly, their security protocols ensure that everyone's documents are verified to cut off suspicious individuals or impersonators. Besides, they have a two-step security verification that keeps away fraudsters.

Conclusion

Cryptocurrency payment gateways facilitate businesses to accept transactions of any virtual currency from customers in exchange for goods or services. Since the inception of cryptocurrency, developers have been working on suitable gateways to fit these virtual currencies.

The main merit of these gateways is that the merchant can receive payment from anywhere across the globe. Therefore, the distance barrier is broken, and business goes on smoothly. However, before engaging any payment gateway, it is always wise to read its reviews and analyze its business module.

Different payment gateways suit different business modules. That is why it is wise to do sufficient research on the subject matter before settling on any service provider.

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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