GBO’s expertise in B2B Crypto corporate services for payment gateway evaluation
GBO is a leading provider of B2B crypto corporate services that specializes in providing businesses in the blockchain and cryptocurrency industries with innovative and customized solutions. A key service provided by GBO is a crypto payment gateway that enables businesses to accept cryptocurrency payments.
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In this paper, we will examine the definitions of crypto and gateway, the various types of crypto gateways, how they function, their fees and costs, and the benefits they provide. In addition, we will provide a framework for evaluating the best crypto payment gateway and investigate why GBO’s proficiency in B2B crypto corporate services makes them a market leader.
Definitions of Cryptography and router
Cryptocurrency, or crypto for short, is a digital asset designed to function as an exchange medium. It employs cryptography to secure and verify transactions and to regulate the creation of new units of a specific cryptocurrency. In contrast, a crypto payment gateway is a service that enables merchants to accept cryptocurrency payments
It acts as a middleman between the merchant and the customer, facilitating the transaction and, if desired, converting the cryptocurrency to fiat currency.
Here is a list of the top 20 crypto payment gateways, ranked by popularity and reputation
Rank
Name
Description
Country
License Type
1
BitPay
A leading payment processor for Bitcoin and Bitcoin Cash transactions
United States
Registered MSB
2
Coinbase Commerce
A payment gateway that allows merchants to accept multiple cryptocurrencies, including Bitcoin
United States
Registered MSB
3
CoinPayments
A payment processor that supports over 1,000 cryptocurrencies, including Bitcoin and Ethereum
Canada
Registered MSB
4
CoinGate
A payment gateway that supports over 50 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin
Lithuania
Registered MSB
5
Binance Pay
A payment gateway developed by Binance, one of the largest cryptocurrency exchanges
Malta
VFA Service Provider
6
Kraken
A payment gateway developed by Kraken, a leading cryptocurrency exchange
United States
MSB or Money Transmitter
7
GoCoin
A payment gateway that supports Bitcoin, Litecoin, and Ethereum
United States
Registered MSB
8
GloBee
A payment processor that supports several cryptocurrencies, including Bitcoin and Litecoin
South Africa
None required
9
Bitaps
A payment gateway that supports Bitcoin transactions
Seychelles
None required
10
SpectroCoin
A payment processor that supports several cryptocurrencies, including Bitcoin and Ethereum
United Kingdom
E-Money License
11
BTCPay Server
A self-hosted payment processor that supports Bitcoin transactions
Worldwide
None required
12
Coingate
A payment processor that supports several cryptocurrencies, including Bitcoin and Ethereum
Lithuania
Registered MSB
13
Blockonomics
A payment gateway that supports Bitcoin transactions
India
None required
14
NOWPayments
A payment gateway that supports over 50 cryptocurrencies, including Bitcoin and Ethereum
Estonia
Registered MSB
15
Paybear
A payment processor that supports several cryptocurrencies, including Bitcoin and Ethereum
United States
None required
16
Rocketr
A payment gateway that supports several cryptocurrencies, including Bitcoin and Ethereum
United States
None required
17
TripleA
A payment gateway that supports Bitcoin transactions
Hong Kong
None required
18
Paytomat
A payment processor that supports several cryptocurrencies, including Bitcoin and Ethereum
Singapore
None required
19
Chimpion
A payment gateway that supports multiple cryptocurrencies, including Bitcoin and Litecoin
United States
None required
20
Coinify
A payment processor that supports several cryptocurrencies, including Bitcoin and Ethereum
Denmark
E-Money License
Is there a connection between cryptocurrency-licensed companies to crypto gateways?
There is a connection between licensed cryptocurrency businesses and crypto gateways. Crypto gateways, also known as cryptocurrency exchanges, provide users with a platform for buying, selling, and trading cryptocurrencies. Typically, these exchanges must obtain a license from the relevant regulatory authorities in the countries in which they operate in order to operate legally. Companies that have obtained a Crypto license to operate in the cryptocurrency industry, such as cryptocurrency custodians or payment processors, may be referred to as cryptocurrency licensed companies. These businesses may collaborate with crypto gateways to offer their customers additional services, such as secure cryptocurrency storage or payment processing.
In some instances, licensed cryptocurrency companies may also operate their own cryptocurrency exchanges, making them licensed and regulated cryptocurrency gateways. In general, there is a close relationship between licensed cryptocurrency businesses and crypto gateways, as both are essential components of the cryptocurrency industry.
How secure Crypto gateways are?
Crypto gateways function by providing merchants with a platform to accept cryptocurrency payments. They typically integrate with a merchant’s existing payment processing system and enable customers to pay with Bitcoin, Ethereum, and Litecoin, among others. The gateway converts the cryptocurrency into fiat currency, which is then deposited into the merchant’s bank account.
Fees and Expenses of Crypto gateway
Typically, crypto gateways assess a transaction fee for each payment processed. The fee varies based on the gateway provider and the cryptocurrency used, but is typically lower than fees charged by conventional payment processors. Some payment gateways also charge an installation fee, a monthly fee, or a currency conversion fee.
Credit card to crypto payment gateway
Every day, new technologies are introduced to the world of finance and payments. In recent years, cryptocurrency has gained significant attention as one of these technologies. Although cryptocurrencies provide a decentralized and secure method of conducting transactions, they have not yet attained widespread adoption. The lack of convenient and accessible methods for consumers to convert their fiat currency (traditional currency) to cryptocurrency is a significant obstacle. This is where credit card-to-cryptocurrency payment gateways come in, offering consumers a seamless way to buy cryptocurrency with credit cards.
What is a payment gateway for credit card to cryptocurrency?
A credit card to cryptocurrency payment gateway is an online platform that enables users to buy cryptocurrencies with credit cards. These gateways facilitate the transaction by converting the user’s fiat currency instantly into cryptocurrency, which can then be stored in a digital wallet.
Key Feature:
The primary characteristics of credit card to cryptocurrency payment gateways are:
These gateways offer instant conversion of fiat currency to cryptocurrency, enabling users to buy cryptocurrency in real-time.
Credit card-to-cryptocurrency payment gateways employ advanced security protocols to protect transactions from fraud and ensure their security.
These gateways are user-friendly, allowing even non-technical users to purchase cryptocurrency with credit cards.
Principal Industry Options: Credit card to cryptocurrency payment gateways have a wide variety of applications across industries.
Which are the best crypto payment gateway WordPress?
A crypto payment gateway for WordPress is a plugin or piece of software that enables WordPress website owners to accept cryptocurrency payments. Integrating with a cryptocurrency payment processor enables the conversion of cryptocurrencies to fiat currency and the transfer of funds to the website owner’s account.
Once installed on a WordPress website, a cryptocurrency payment gateway enables customers to pay for goods and services using cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others. The payment gateway offers a secure and streamlined checkout procedure, allowing customers to complete transactions quickly and without difficulty.
Some cryptocurrency payment gateways for WordPress offer additional features such as real-time exchange rate calculation, automatic conversion to fiat currency, and payment notification. This facilitates the management and tracking of cryptocurrency payments for website owners.
Overall, a crypto payment gateway for WordPress can assist website owners in expanding their payment options and expanding their customer base among those who prefer to pay with cryptocurrencies. It is essential to conduct thorough research and select a reputable payment gateway provider that meets all applicable legal and regulatory requirements.
Best WordPress cryptocurrency payment plugins
Plugin Name
Description
Country
Coinbase Commerce
A payment gateway that allows businesses to accept multiple cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
USA
BitPay
A leading Bitcoin payment processor that offers a WordPress plugin for accepting Bitcoin payments.
USA
CoinPayments.net
A popular cryptocurrency payment processor that offers a WordPress plugin for accepting multiple cryptocurrencies.
Canada
GoURL
A cryptocurrency payment gateway that offers a WordPress plugin for accepting Bitcoin and other cryptocurrencies.
UK
Cryptocurrency All-in-One
A WordPress plugin that supports multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
USA
Best WordPress cryptocurrency payment plugin
Utilizing a cryptocurrency payment plugin on your WordPress site can provide numerous benefits, including:
Lower Transaction Fees: Typically, cryptocurrency transactions incur lower fees than traditional payment methods such as credit cards and PayPal. This means that merchants who accept cryptocurrency can save money on transaction fees.
In contrast to traditional payment methods, which can take several days to clear, cryptocurrency transactions can be processed almost instantaneously.
Due to the use of advanced encryption techniques and decentralized networks, cryptocurrency transactions are highly secure, making them less susceptible to fraud and hacking.
Cryptocurrencies are not tied to any particular country or government, making them ideal for international transactions.
Unlike traditional payment methods, which are governed by banks and financial institutions, cryptocurrencies are decentralized and immune to government control or manipulation.
Cryptocurrencies offer enhanced privacy and anonymity because transactions are recorded on a public ledger but do not include personally identifiable information.
Accepting cryptocurrency payments can assist businesses in attracting tech-savvy customers who prefer to pay with cryptocurrencies.
Plugins for cryptocurrency payments offer customers the flexibility to pay with any cryptocurrency of their choosing. This can help merchants increase their customer base by allowing them to accommodate a greater variety of payment preferences.
How do I create a Bitcoin payment gateway in WordPress?
Creating a Bitcoin payment gateway in WordPress requires the following steps:
Create a Bitcoin Wallet: To store your Bitcoins, you must create a Bitcoin wallet. Hardware wallets, software wallets, and online wallets are among the available options.
Choose a Payment Gateway Provider: Several payment gateway providers, including BitPay, Coinbase, and CoinPayments, offer Bitcoin payment integration. Choose a WordPress-compatible provider that meets your organization’s needs.
Install and Activate the Bitcoin Payment Gateway Plugin: After selecting a payment gateway provider, install and activate the Bitcoin payment gateway plugin on your WordPress site. This plugin will allow your website to accept Bitcoin payments.
After installing the plugin, you must configure the payment gateway settings, including the payment gateway mode, API key and secret, and payment settings such as minimum and maximum payment amounts.
Before accepting live Bitcoin payments, it is essential to test the payment gateway to ensure that it is functioning properly. You can accomplish this by sending a small amount of Bitcoin as a test payment.
Once you have successfully tested the payment gateway, you can begin accepting Bitcoin payments on your WordPress website.
Among the most prevalent industry solutions are:
Online gaming platforms can integrate credit card-to-cryptocurrency payment gateways to enable in-game cryptocurrency purchases.
E-commerce: Online merchants can accept cryptocurrency as payment, allowing customers to use credit cards to purchase goods and services.
International remittances: Credit card to crypto payment gateways can be used to facilitate international transactions, providing a cheaper and quicker alternative to conventional remittance services.
These are some of the top credit card to cryptocurrency payment gateway companies:
Coinbase is a leading cryptocurrency exchange that provides a credit card to cryptocurrency payment gateway for instant cryptocurrency purchases.
BitPay is a global payment service provider that provides a credit card to cryptocurrency payment gateway, enabling businesses to accept cryptocurrency payments.
CoinGate: CoinGate is a cryptocurrency payment gateway that allows users to purchase cryptocurrency with credit cards.
Gateways for Cryptography
There are two primary categories of crypto gateways: custody-based and non-custodial. Custodial gateways store the cryptocurrency of the merchant on their platform and manage the conversion to fiat currency. Non-custodial gateways, on the other hand, do not store the merchant’s cryptocurrency and require the merchant to handle the conversion to fiat currency.
Hosted payment gateways are managed by a third-party service provider who hosts the payment form on their own server. These payment gateways are popular among small businesses because they are simple to set up and require minimal technical knowledge. Hosted payment gateways manage the security and compliance concerns associated with cryptocurrency payment processing.
Self-hosted Payment Gateways: With self-hosted payment gateways, businesses can host their payment forms on their own servers, granting them greater control over the payment process. Self-hosted gateways necessitate technical knowledge for installation and maintenance, but they offer greater customization and control over the payment experience.
Integrated Payment Gateways: Integrated payment gateways are directly integrated into the website or mobile application of the merchant. These gateways provide customers with a seamless checkout experience, processing payments in the background. Integrated payment gateways require technical expertise for integration and maintenance, but they offer greater control and customization of the payment experience.
Decentralized Payment Gateways: Decentralized payment gateways utilize blockchain technology to process payments without requiring a centralized authority. These gateways are still in the early stages of development and have not yet attained widespread crypto adoption, but they have the potential to provide a more secure and decentralized payment system in the future.
The business’s needs and technical prowess dictate which type of crypto gateway should be implemented. Self-hosted and integrated payment gateways are better suited for larger businesses with more technical resources than hosted payment gateways. The development of decentralized payment gateways is still in its infancy, and they may not be suitable for all businesses.
The benefits of crypto gateways
Cryptographic gateways offer numerous benefits to businesses. They enable merchants to accept cryptocurrency payments, thereby increasing sales and attracting new customers. They also offer lower transaction fees and faster settlement times than conventional payment processors. In addition, the irreversibility of crypto payments reduces the risk of chargebacks and fraud.
How to Evaluate Competitors
To determine the best cryptocurrency payment gateway, businesses must evaluate a variety of factors. These include transaction fees and costs, supported cryptocurrencies, the security and dependability of the gateway, the level of customer support provided, and the ease of integration with the merchant’s existing payment processing system. It is also important to consider the gateway provider’s reputation and knowledge of the crypto and blockchain industries.
Decentralized crypto payment gateway
Decentralized crypto payment gateways accept and process cryptocurrency payments without a central authority or intermediary. It facilitates digital currency payments between merchants and customers.
A bank or payment processor processes transactions and verifies payments in traditional payment gateways. A decentralized crypto payment gateway automates and secures payment processes using blockchain technology and smart contracts.
Decentralized crypto payment gateways work as follows:
Integration: The payment gateway provider integrates blockchain technology and smart contracts to allow merchants to accept cryptocurrencies.
Payment Initiation: Customers choose a cryptocurrency and start the payment process on the merchant’s website or app.
Smart contracts and the blockchain network verify transactions at the payment gateway. This process verifies the customer’s wallet funds and transaction authenticity.
Payment Settlement: The payment gateway transfers the customer’s cryptocurrency to the merchant’s wallet after the transaction is verified. This blockchain-recorded transfer ensures payment transparency and immutability.
The customer and merchant receive payment confirmation. The merchant can fulfill the customer’s order.
Security: Blockchain’s cryptographic features reduce fraud and chargebacks.
Decentralized payment gateways reduce costs and improve efficiency by eliminating intermediaries and fees.
Global accessibility: Cryptocurrencies allow businesses to accept global payments without currency conversion or international transaction fees.
Privacy: Depending on the blockchain, decentralized crypto payment gateways can protect sensitive transaction data.
Decentralized crypto payment gateways make accepting and processing cryptocurrency payments more transparent, efficient, and secure.
Summary
For businesses that wish to accept cryptocurrency payments, selecting the best crypto payment gateway is a crucial decision. GBO’s proficiency in B2B crypto corporate services, including their crypto payment gateway, positions them as a market leader. When evaluating a cryptocurrency gateway, businesses should consider transaction fees and costs, supported cryptocurrencies, security and dependability, customer support, ease of integration, and the provider’s reputation and expertise.
About the Author: GBO experts
GBO has been a trusted business partner since 2009, offering corporate solutions like global company setups, banking, and gaming licenses. We also provide turnkey solutions in crypto, gaming, and industries. For more insights, connect GBO on LinkedIn or directly at: info@gbo-il.com
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