Top crypto payment gateways in 2022
Year after year, the world of crypto sees incredible changes. 2021 was particularly an eventful one for crypto investors and not a delightful one for others. Regardless, It is undeniable that the new technology is growing like wildfire in the desert, with more people around the universe jumping on the technology’s bandwagon.
Several companies and countries are warming up to this new, not-so-new mode of transaction. This futuristic movie is seen through regulations to govern cryptocurrency markets, including Denmark, France, Germany, Japan, etc. Cryptocurrency payments are gradually becoming the norm, thus the demand for crypto payment gateways. Essentially, payment gateways act as checkout portals that allow merchants and business owners to process secure transactions using payment processors.
Here are some of the top crypto payment gateways in 2022, and we recommend the best based on facts. They include:
It is quite safe to say that Coinbase is one of the most popular online platforms that facilitate the buying, selling, transferring and storage of cryptocurrency. The US-based company is considered one of the most reliable amid a highly unregulated crypto industry. The platform provides a robust bitcoin gateway designed to allow fully decentralized transactions and supports other providers such as Shopify and WooCommerce.
Coinbase Commerce provides its users with the convenience of faster and easier conversions (from cash to crypto and vice versa). Some of its major advantages include:
Crypto addresses that cut across different cryptocurrencies.
Real-time updates on crypto payments
Easy and quick conversions to fiat currency and vice versa
Fast settlement of payments into merchant’s bank accounts is thus convenient for both small and prominent businesses.
However, Coinbase has a couple of disadvantages as well. Its primary shortcoming is limited geographical coverage and the risk of losing money attributed to the restraint on merchants to control their private keys completely.
BitPay is another great pick based in the United States- Atlanta, Georgia. The platform has been around for slightly over a decade, boasting customers like Twitch and Microsoft. The payment gateway’s infrastructure is built upon a QR code invoicing system with several mechanisms to enhance the security of transactions. The major benefits of using BitPay include:
Protection of currency rate against volatility at the time of sale.
Automated updates of deposit balances to your crypto wallet or bank account in cryptocurrency or fiat currency, respectively.
Auto conversion of cryptocurrency into euros or dollars through direct bank transfers.
Mobility thanks to the platform’s compatibility with several devices.
It supports twelve currencies and is available to over 30 countries.
The most significant drawback of the BitPay payment gateway is its $20 minimum balance required before payouts and volatility that could affect the currency’s value both ways.
Last but not least on our list is Xion Global. If you are not sold on crypto payments gateways yet, this one should seal the deal. Xion Global accommodates decentralized payments from numerous industries, including metaverses, marketplaces, blockchain businesses, affiliates, gaming, eCommerce store owners, and so much more. With all these entities in one basket, you can ensure that your business is in the right space.
Some of the reasons why Xion Global is the best payment gateway option for you or your business are:
Convenient and effortless payments
It is designed to make payments easier with a free and straightforward payment solution that allows merchants to kick start hassle-free transactions instantly. To enhance the system’s efficiency, the platform enables the creation of single or recurring payments, installation of web3 checkout buttons, quick send & share payment links and the seamless customer management for viewing and downloading of transactions.
Transaction fees can be a pain in the neck. However, Xion Global steps in to remove the go-betweens to save every single cent. The service offers 0% transaction fees on every transaction and auto conversion to stable coin from all major crypto baskets, with easy settlement of payments into merchant’s bank accounts. This is a big deal for the unavoidable microtransactions & volatility with cryptocurrencies, especially for small businesses.
Flexible Loyalty Programs
Xion Global also offers subscription solutions that allow you to build on the loyalty of your customers that could potentially become a long-term asset for your business. The program provides the creation of periodic recurring crypto payments, collection of failed payments, management (pause, unsubscribe or archive) of the subscriptions and compounding of discounts for loyal customers.
Cashback on purchases
The Xion marketplace is full of rewards with amazing deals, such as purchasing products globally from any Xion merchants. Customers can enjoy up to 100% cash back simply by checking-out on your store through the Xion payment gateway.
The possibilities are endless with Xion Global as more incredible features are queued. The addition of more than 16+ blockchains, over 1000+ cryptocurrencies, metaverse payments, advanced APIs and SDKs and additional plugins such as WordPress, Shopify and Woocommerce, adding to the long list of reasons for merchants to choose Xion Global.