Crypto payment gateways will let businesses accept crypto transactions as payment from their clients for goods and services bought by them. Such payment apps are designed to accept funds from different countries.
Every time a buyer makes a purchase using crypto coins as payment, transactions are conducted through payment apps at fixed exchange rates. These convert this crypto amount automatically to traditional fiat currency to enable the merchant to evade the crypto market volatility. A Bitcoin payment app will allow you to accept all transactions in Bitcoin; today, most of these crypto payment gateways facilitate the buy-and-sell of other altcoins too like the Litecoin, Ethereum, Ripple, etc. Here are some of the best known Bitcoin payment apps in 2020:
1. Coinbase: This is by far the biggest Bitcoin exchange located in the US and one of the largest crypto exchanges worldwide. It boasts of a huge customer base and has resources to offer incredible features to give its customers a superior user-experience. It has to conform to all American laws regarding crypto exchanges and this makes it highly reliable. You can use Coinbase both as a regular exchange and a payment gateway; it can enable fast currency conversion into fiat currency from Bitcoins. The services are offered free of cost for the initial $1 million worth of transactions; beyond this, a 1% merchant fee is charged. Al payments are cleared within 3 days and this is why businesses prefer to use this app. The only downside is that Coinbase is operational in limited regions only.
2. Coingate: This exchange comes with a user-friendly payment app allowing merchants to install and monitor transactions even from phones. A bonus feature offered by Coingate is that it supports more than 40 crypto coins and this allows merchants to boost multiple payment methods to customers simply by using this app. Coingate also provides a variety of plugins and lets you create Bitcoin payment buttons for many websites; it charges 1% as fees and these are processed in an hour’s time.
3. Coins Bank: This Bitcoin payment processor is a user-friendly platform with a rock-solid reputation. It can be downloaded free of cost on your Android or iPhones. This payment app supports many prime currencies like GBP, USD and EUR; it comes with a single-click deposit/withdrawal feature that benefits traders trading in large volumes. Besides, Coins Bank also provides for free currency transfers to friends or family 24x7. Transactions are conducted at live market rates allowing users to enjoy better control over their funds. Moreover, this app has two-factor authentication for securing your wallet.
4. BitPay: You can install withdrawal transaction speeds using this app. This is useful for merchants that want withdrawals to happen at set time-intervals. This payment app is supported by dual-factor authentication accounting for greater security. BitPay is easy to use and install; the process is made as easy and direct as possible to help the less tech-savvy users.
5. Alfa Coins: This ranks as one of the more popular payment processors for the Bitcoin. It provides an interesting feature of offering payments that can be split between crypto and fiat currencies. This is beneficial for those merchants keen to keep some Bitcoins out of each transaction to make profits on surging prices. It offers comparatively lower transaction fees but here is no additional fee to install Bitcoin payments.