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Top 6 Bitcoin Payment Gateways for E-commerce Business

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Darshit Parmar
Darshit Parmar is a dedicated eCommerce consultant at M-Connect Media, a sales-oriented e-business development company.
When you read payment gateway for E-commerce business, the first name that comes to your mind is PayPal. It is the most widely used payment gateway in the majority of the E-commerce platforms all over the world.

When the shoppers see PayPal at a checkout, they immediately feel familiar and trust is built. That’s about regular payment gateways. Being in the E-commerce industry, you must be aware of the newly emerged cryptocurrency called “Bitcoin”. With its gaining popularity, your shoppers must be looking for your store to make a payment with BTC. So, to survive in the competitive market, you should integrate a suitable Bitcoin payment gateway on your e-store. To help you find a suitable one, I have done an extensive research and listed the best ones along with their features and compatibilities.

Coinbase

Coinbase is the most widespread platform to buy and sell cryptocurrency like bitcoin, Ethereum, and Litecoin. They develop and sell many products and one of them is a payment gateway for merchants to accept bitcoin. It can be set up easily on your e-store, is customizable, mobile-friendly and provides full API for custom integrations. 

It is used by companies like Expedia, Dell, Reddit, etc. It provides shopping cart plugins compatible with WordPress, WooCommerce, Magento, ZenCart, SpreeCommerce, and FoxyCart. Accessible in 32 countries, you can find the complete list here. Thus, if your estore runs on the platform stated above and your business countries are on the list, then “Coinbase” is a 'Thumbs Up' for you. Apart from being a payment gateway provider, Coinbase is also a bitcoin exchange platform, hence you can also trade with the bitcoins obtained.

BitPay

BitPay allows merchants to accept bitcoin, store and spend bitcoin, and turn bitcoin into dollars using a BitPay card. It provides integrated solutions for Shopify, 3DCart, FoxyCart, etc., open source plugins for Magento, OpenCart, Oscommerce, PrestaShop, etc., solutions for POS named Ingenico, VisualTouch, DC POS, etc. and billing & accounting solutions for NetSuite, Intuit PayByCoin, InvoiceNinja, etc. You can fetch the entire list here

You can get started with this gateway for free, there are other packages also available for bigger enterprise. All the solutions by BitPay offer two-factor authentication, multi-user support, 11 open source libraries and SDKs for custom integration, support for 40 different languages, supporting 150 different currencies, email, mobile, and server payment notifications. The complete feature list is presented here. So, if you have a widespread business and want bitcoins for POS, accounting, and billing departments apart from E-commerce store, then you can definitely settle for this one. Moreover, you can offer the refund with this payment gateway.

CoinGate

CoinGate offers a payment gateway to accept bitcoin and over 50 altcoin payments. Similar to BitPay, it also offers apps for POS, various E-Commerce platforms, Bitcoin payment API, and payment buttons to accept Bitcoin donations on your website. The payouts can be received in US dollars or Euros. In case of countries, the shoppers can be from any country, but the merchant cannot be located or registered with the USA. So, this isn’t a suitable option for the merchants residing/registered in the USA. The payments made through CoinGate payment gateway are irreversible. It offers 2FA (Two Factor Authentication) as well. You can check out a sandbox demo of this payment gateway here.

Shopify

As you may already know, Shopify is a well-known E-commerce provider. They have launched bitcoin payment gateway to accept BTC as payment on your E-commerce store and POS applications. This payment gateway is limited to e-store built on Shopify platform only. It offers 14-day free trial and further plans are available here.

AlfaCoins

AlfaCoins is a Bitcoin and Cryptocurrency payment processing system. It allows you as a merchant to accept Bitcoin, Litecoin, Ethereum, BCH, Dash, and Ripple. The payments received are directly transferred to your linked bank account. It provides easy API integration to accept payments, makes payments and also provides a refund option to your customers. It does not have any monthly subscription or setup fees, it only charges 0.99% transaction fee for every successful transaction. 

You can accept payment from all countries except the Islamic Republic of Iran; the Democratic People's Republic of Korea. Moreover, it provides a merchant tool named “CoinSplit” to divide the funds received as cryptocurrency in either fiat currency or another cryptocurrency. It also provides a payment system called “BitSend” to send cryptocurrencies to employees as salary, or to customers as a reward.

SpectroCoin

SpectroCoin is a wide platform offering services for Bitcoin Exchange, Bitcoin Card, Bitcoin Wallet and Accept Bitcoins i.e. payment gateway to accept bitcoins on your e-store. It allows you to receive funds in your own currency, directly into your bank account. It does not offer chargebacks or refunds. It offers Bitcoin Payment Processing API and E-commerce plugins to seamlessly integrate this service on your e-store irrespective of its platform. It has the biggest list of supporting countries. Similar to AlfaCoins, it does not charge any subscription charges. It only deducts a minimal transaction fee.

In a nutshell, you can choose the most suitable Bitcoin payment gateway by comparing features, applicable countries, pricing and compatible platforms.

So, that’s all from my side!

Are you already using any Bitcoin Payment Gateway apart from the ones mentioned above? It will be great to hear from you through the comment section below. Have any other popular gateways been missed? Let me know that too! 

Please share your thoughts!!!

For more information about me, please check my Experts Exchange Profile page.


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Expert Comment

by:dave mash
Interesting article. I think cryptocurrency and especially bitcoin is our future. I use Cubits wallet. In addition to this, Cubits has flexible merchants that accept Bitcoins and work with other financial providers like credit card companies, OK Pay and Rapid Transfer. More interesting info you can find at https://www.valleygames.ca/bitcoin-casino-your-guide-to-the-best-bitcoin-options-for-gambling/  Now I play in bitcoin online casino.
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