Popular crypto coins like Bitcoin, Ethereum, and other well-known ones are becoming accepted forms of payment as more and more people get interested in cryptocurrencies, especially on e-commerce websites. Additionally, people are looking for ways to use their cryptocurrency earnings to pay for their daily needs, dream homes, and cars in the real world. Therefore, if you do not enable your consumers to pay with cryptocurrency, you risk losing a big portion of your clientele. However, many entrepreneurs require to hire Magento developer to add custom payment gateways for the clients. In fact, many brands have begun to accept cryptocurrencies, so if your store isn’t equipped with them, you’re already behind.
Although, we doubt whether the idea of cryptocurrencies will work or not in eCommerce. Still, it is becoming more and more obvious that cryptocurrencies will be used there. To help you accept cryptocurrency payments on your online store, we have listed some of the top crypto payment gateways in this article.
How the payments made using cryptocurrencies are significant in Magento eCommerce
Magento is a significant competitor for eCommerce companies and always will be, with a gross merchandise value of over $100. The abundance of integrated functionality enables retailers worldwide to nurture and grow their online business. According to Builtwith’s analysis of the top a million eCommerce stores, Magento is the third most popular platform. There is no denying fact that Magento is still at the top of online shopping even if the blockchain payment gateway is not viable.
The crypto payment gateway for eCommerce is a component of the Magento 2 eCommerce shop for a number of reasons, including the ability to safe transactions and minimize processing costs. This technology is still developing, though. You shouldn’t disregard the causes and difficulties that any firm working on eCommerce development experiences while implementing cryptocurrency payment gateways. However, you can have Magento development services if you want to install the crypto payment gateway method.
Which is the best Crypto Payment gateway for an eCommerce site?
We all know that Cryptocurrency is a new technology that is in its initial stage. However, many third-party agencies have launched the best Crypto payment gateway method to exchange coins and make the transaction. So, here we will discuss the best gateways that can be used for the eCommerce site.
CoinPayments – Best Crypto Payment Gateway
CoinPayments is the most reliable cryptocurrency payment gateway on the market, with over 10 billion dollars in cryptocurrency transactions and accessibility in more than 200 countries. You can take payments in 2100+ cryptocurrencies with CoinPayments, including BTC, ETH, BNB, USDT, and many more. Additionally, it offers a multicurrency wallet where you may retain all of your cryptocurrency payments for as long as you choose or have them automatically transferred to other wallets to keep your assets safe.
A blockchain payment processor called CoinGate accepts more than 50 cryptocurrencies on a global level. For businesses interested in taking bitcoin payments from customers using the Coingate payment gateway, it provides plugins, payment buttons, APIs, and billing services. Any e-commerce website, including WooCommerce, Magento, PrestaShop, and WHMCS, can incorporate it. The payment flow is managed via easy-to-use add-on integration modules from checkout to settlement. It works well for all kinds of businesses, from entry-level startups to large-scale retailers.
Coingate gives businesses a dashboard where they can monitor and control their payouts and payment history. The integration procedure is easy to understand. In order to create API credentials, the merchant must log in to their CoinGate account. To accept settlements, the merchant can choose their preferred options. It also gives merchants a Sandbox environment to test their API integration before making it live on their web store, which is another advantage. So, to integrate this payment gateway, you need to hire Magento developer.
One of the largest cryptocurrency exchanges in the world is Coinbase. E-commerce businesses can now accept cryptocurrency payments in exchange for their products or services through Coinbase. To provide a settlement into fiat currency, it levies a transaction fee of 1%. Depending on the compliance evaluation and geographical availability, account setup may take 3–4 weeks. Bitcoin, Ethereum, Litecoin, Dogecoin, and other cryptocurrencies are among those that retailers will accept from customers. The store owner can integrate it with Magento, WooCommerce, or Shopify store. Coinbase offers more than just cryptocurrency trading services; it also has a reliable payment processor called Coinbase Commerce. You can take payments in stablecoins as well.
It is simple to use and enables businesses to begin going right away in a matter of minutes. With the help of the non-custodial payment gateway NOWPayments, you may make payments in BTC, ETH, and more than 100 other cryptocurrencies with the option of automatic coin conversion. NOWPayments offers merchants additional payment options, such as APIs, invoices, donation widgets, buttons, and CMS plugins, in addition to the payment gateway, allowing them to collect and manage payments in the most effective manner.
One of the straightforward and easy-to-use cryptocurrency payment gateways is BitPay, which enables you to integrate cryptocurrencies right away into your online store. By earning the confidence of thousands of companies around the world, BitPay allows you to take cryptocurrency payments on your e-commerce website, in person, or by emailing invoices.
You can accept Ethereum, Bitcoin, XRP, GUSD, BUSD, and other popular cryptocurrencies for online payments using BitPay. It offers businesses in 229 countries and territories payment processing and cryptocurrency settlement. One of the extra benefits of BitPay is that you can receive money without worrying about price fluctuation and immediately into your bank account. Additionally, since there are no chargebacks, all of your transactions will be processed successfully.
Payment gateways for cryptocurrencies offer rapid conversions between digital and fiat currencies. Any e-commerce website that already exists can hire Magento developer to integrate them. We can regard Cryptocurrencies as the financial system of the future. Moreover, Accepting online transactions in cryptocurrencies will soon become the new standard. You are already familiar with some of the top Bitcoin and cryptocurrency payment gateways in the market. Now it’s time to choose the best payment processor for your website and integrate it into the eCommerce platform. It helps the customers to pay using cryptocurrencies.