Published 2 weeks ago • 7 minute read

The Best Bitcoin Payment Provider

A Bitcoin payment provider is a payment gateway that allows merchants to accept cryptocurrencies,  including BTC. With the monthly volume in billions of dollars and dozens of providers, this is a big business. We’ll compare the best crypto payment processors, including CoinsPaid, and look at the benefits that can bring to your business.

Why integrating a Bitcoin payment provider can be a competitive edge in 2023

At least 300 million people own crypto as of 2022, including 22% of adult Americans. This is just the beginning, though: by 2030, this number can grow to 1 billion, according to Boston Consulting Group. 

Another important statistic: 30% of crypto holders buy goods and services with crypto, as revealed by Insider Intelligence. And 25% even said that they prefer to shop with merchants that accept crypto payments. In fact, around 30% would switch to another merchant that has a cryptocurrency payment system.

Why do shoppers prefer to pay via a crypto payment gateway rather than a standard credit card gateway? Here are a few things to consider:

  1. More and more professionals, especially freelancers, are paid in BTC or USDT. They want to spend it directly rather than bother converting it into fiat, so they choose stores that accept payments in cryptocurrency.
  2. 99.9% acceptance. As long as a merchant uses a reliable crypto payment processor, transactions will go through regardless of who sent them and from there. Shoppers don’t run the risk of their payment being refused or of their card getting blocked.
  3. Transparency. A customer can always view the status of their crypto transaction through a blockchain explorer.

From the merchant’s point of view, there are several more reasons to connect to a Bitcoin payment provider:

  1. Low costs. According to the research conducted by CoinsPaid, merchants save up to 80% in payment costs after they start accepting online payments in cryptocurrency.
  2. No friendly fraud. Chargebacks cost an eCommerce business $240 for each $100 that is actually refunded. But with crypto, chargebacks are technically impossible: a merchant can, of course, choose to send a refund, but this cannot be forcefully triggered by a third party.
  3. No rolling reserves. Unlike traditional PSPs, cryptocurrency payment gateways don’t require that merchants keep part of their revenue locked up for chargebacks and other things. Business owners have full access to their funds.

Now you can understand why over 30,000 companies have already chosen to add Bitcoin to their list of payment options. In the next section, we’ll provide an overview of the 10 best-known crypto payment gateways and their strengths.

The top 7 Bitcoin payment providers for businesses

1. CoinsPaid

This is the biggest crypto payment processor in the world by sheer volume, handling more than a billion dollars’ worth of transactions every month for 800+ merchants. CoinsPaid is a full-fledged payment ecosystem, with a crypto wallet for business, a personal wallet, an instant exchange, an OTC desk, and more. It supports 20+ cryptocurrencies, 40+ fiat currencies, and fiat withdrawals in 6 currencies.

The Best Bitcoin Payment Provider 1

2. Coinbase Commerce

This Bitcoin payment gateway is part of the same ecosystem as the centralized Coinbase crypto exchange and the non-custodial Coinbase wallet. While it supports only 10 cryptocurrencies, it is conveniently integrated with Shopify and WooCommerce. There are no fiat settlements (meaning that merchants can’t withdraw funds to a bank account directly), but one can convert crypto into USD on the Coinbase exchange.

3. Coingate

This provider allows merchants to accept payments in 70+ cryptos and allows for fiat settlements in USD and euro. As of September 2022, Coingate has processed almost 2.5 million transactions. Apart from the gateway proper, the platform also features a service for instantly buying and selling crypto with euros. Users can also buy gift cards with crypto.

4. CoinPayments

This provider supports more cryptocurrencies than any other: over 2,300 coins and tokens. It also boasts some of the lowest processing fees in the industry (from 0.5%). Merchants can set up automatic conversions and set up integrations with eCommerce platforms. CoinPayments also provides a Bitcoin POS (Point of Sale) solution for in-store purchases.

The Best Bitcoin Payment Provider 2

5. BitPay

Both a service for buying and selling BTC and a crypto payment gateway, BitPay supports payments in 14 currencies, including 5 stablecoins – though, interestingly enough, it doesn’t support USDT. Settlements happen automatically every day and can be sent via ACH, SEPA, and other bank transfer channels.

6. SpicePay

What makes this cryptocurrency payment gateway special is the option to withdraw one’s accumulated revenue via PayPal, in addition to SEPA or a wire transfer in USD, DOL, GBP, or CAD. For EU-based merchants, funds become available in less than 24 hours (while with credit card processors this can take up to 3 days). However, the range of supported cryptos is rather limited.

7. ALFAcoins

The service supports 7 cryptocurrencies: BTC, ETH, LTC, USDT (ERC-20), DASH, BCH, and LTC. Merchants can choose to pay the 0.99% transaction fee or include it in the invoice to be paid by the customer.

Why CoinsPaid could be the best crypto payment gateway of 2022

In August 2022, CoinsPaid reported a new milestone: 13 billion euro in cumulative processed volume since launch. Compared to the second quarter of 2021, the company’s volume grew 3.6x year-on-year, while the number of transactions increased by 2.3x to 4.5 million in just one quarter. The overall number of transactions since launch exceeds 23 million. In Q4 2022, CoinsPaid claimed to have processed over 34 million transactions worth €19B in total.

Based on the surveys of its 800+ connected merchants, CoinsPaid saved them over $35 million in just one year. The company has also been marked by numerous awards, including Payment Provider of the Year.

The Best Bitcoin Payment Provider 3

What helped CoinsPaid achieve this position of undisputed leadership? Several factors are in play here:

  • A wide range of supported cryptocurrencies: over 20, including BTC, ETH, DOGE, USDT, LTC, etc.
  • Instant transaction processing for BTC, ETH, and BCH. Instead of waiting for an hour for a Bitcoin payment to be confirmed on the blockchain, users receive a confirmation within a couple of seconds, just like with a credit card.
  • Built-in exchange. Merchants can swap one token or coin for another on the fly, convert crypto to one of the 40+ fiat currencies, and even set up automatic conversions. This is important, as merchants that don’t wish to deal with cryptocurrency can simply swap it for fiat and handle it as any other revenue.
  • Fiat settlements in 6 currencies. Only a few of the best cryptocurrency payment gateways offer this crucial feature.
  • SaaS solution / White Label. Entrepreneurs can start their own crypto payment business using CoinsPaid’s technology under their brand.
  • A security-audited business wallet. This is an app that doubles as a merchant dashboard and a blockchain wallet, giving access to all of CoinsPaid’s major features, including an instant exchange.
  • Three payment options: channels, invoices, payment links, e-commerce plugins, and Plug-and-Pay. Channels are simple crypto deposits without a specified amount or time window. An invoice is tied to a specific amount in fiat and has to be paid within a limited time (15 minutes). This option eliminates volatility risks, as the merchant receives the exact amount of crypto that corresponds to the fiat value of a good – and can immediately convert it into fiat in the dashboard. Finally, Plug-and-Pay enables automated crypto top-ups.
  • Flexible and customizable. Merchants can set different roles for different dashboard users; decide on the threshold amounts for automatic conversions; easily add or remove supported cryptocurrencies, etc.
  • Strong security. CoinsPaid has an in-house security team and works closely with several partners to track suspicious transactions. It has passed two independent audits (Hacken & 10Guards) with no vulnerability detected.
  • Great support. All the required documentation for taxation and reporting upon request. CoinsPaid also has a 24/7 human support service ready to solve any technical issue, and during integration every merchant is assigned a personal manager.
  • A partner program. Any merchant can become a CoinsPaid partner and enjoy rewards, discounts, and co-marketing opportunities.

5 reasons to integrate crypto payments right now

  1. Reach out to 300+ million crypto holders across the globe
  2. Gain a competitive advantage over other merchants in your market
  3. Save up to 80% on payment processing
  4. Avoid friendly fraud, identity theft, and other types of fraud
  5. Enter new markets and regions


  • 300+ million people hold crypto, and this can grow to 1 billion by 2030. 30% of Bitcoin owners regularly pay with cryptocurrency for goods and services.
  • Merchants that accept crypto payments can tap into this constantly growing audience. They also save a lot of money thanks to low fees, absence of chargebacks/friendly fraud, and no rolling reserve requirement.
  • The list of the top providers includes CoinsPaid, Coinbase Commerce, BitPay, Coingate, and others.
  • CoinsPaid is a strong contender for the title of the best cryptocurrency payment gateway, as it processes over $1 billion in crypto each month and features 20+ supported cryptos, an instant crypto to crypto and crypto to fiat exchange, a handy business wallet, an OTC desk, and more. It’s also known for its impeccable security track record.



The views, the opinions and the positions expressed in this article are those of the author alone and do not necessarily represent those of or any company or individual affiliated with We do not guarantee the accuracy, completeness or validity of any statements made within this article. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author. Any liability with regards to infringement of intellectual property rights also remains with them.


No comments yet... Start the conversation!