Summary: Cryptocurrencies are a new trend in the financial sector, and more and more businesses are towards crypto payment gateways for their online business. Find out the best crypto payment gateways in India and their features and pros & cons for the better understandings.
Cryptocurrency is the future of online payment, and we can say this confidently because millions of online cloud services and eCommerce websites already offer Bitcoin and other cryptocurrencies as a payment mode.
In India, Government has recently taxed profits from Crypto at 30%, which indicates that Crypto transactions have a future in the Indian market. Like UPI, Crypto could soon be the new payment method for online services and eCommerce websites.
However, these businesses need to integrate a Crypto payment gateway to accept bitcoin on their website or app. There are many Crypto payment providers, but most of them do not fit the Indian market.
This article will provide you with all the information related to crypto payment along with some of the best crypto gateway services in India.
In simple terms, Crypto Payment Gateway is a service that lets you accept cryptocurrency as a mode of payment for your goods and services. It can be integrated on your website, mobile app, or to receive payment via a link.
Every payment you make online is processed through a payment gateway like CCavenue, RazorPay, etc. These payment gateways provide payment modes like credit cards, debit cards, net banking, UPI, etc.
On the contrary, Crypto gateway receives payment from the buyer’s crypto wallet and deposits it in the seller’s crypto wallet. The Crypto payment processor also converts and deposits fiat currencies directly in the vendor’s bank account after deduction of necessary charges.
A suitable crypto payment processor could accept all popular Cryptocurrencies like Bitcoin, Dogecoin, Litecoin, Ethereum, Tether, etc.
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| Product | Payment Method | Platform Supported | Processing Fee | Rating | Cryptocurrency Accepted |
| Coinbase | Cryptocurrency | Web, Mobile | Flat 1% transaction fee | 4.5/5 | Bitcoin, Ethereum, Litecoin, and 250 others |
| Blockonomics | Cryptocurrency | Web | 1% transaction fee | 4.2/5 | Bitcoin and Etherum |
| CoinGate | Cryptocurrency | Web, Mobile | 1% | 4.3/5 | Bitcoin, Ethereum, and 70 more |
| BitPay | Cryptocurrency | Web, Mobile | 1-2% with 25¢ for each transaction | 4.4/5 | Bitcoin, Bitcoin Cash and 250+ |
| Binance Pay | Cryptocurrency | Web, Mobile | $0.5-1 based on transaction value | 4.6/5 | Over 300 cryptocurrencies |
| Bitcoiva | Cryptocurrency | Web, Mobile | O.2 for every transaction with 0.1 TDS | 4.1/5 | Bitcoin, Ethereum, and 200 more |
| Crypto.com | Cryptocurrency | Web, Mobile | 0.04 to 0.20% | 4.7/5 | Over 200 cryptocurrencies |
| Stripe | Cryptocurrency & regular currency | Web, Mobile | 2-3% based on transactions | 4.3/5 | 135+ currencies |
Indian vendors must look for the crypto payment gateways that provide services in India and allows adding an Indian bank account to receive payments. Here are some of the most trusted, payment accepting Cryptocurrency payment gateways.
Coinbase is a popular crypto brokerage platform enabling merchants to transact in seven popular cryptocurrencies. It also provides invoicing features allowing vendors to generate bills based on specified cryptocurrency.
Besides, Coinbase crypto also has a straightforward user interface, and merchants could get started simply with email signup.
Blockonomics is another cryptocurrency gateway widely popular for its simplicity and the delightful checkout experience.
It allows users to create their payment link for a specified amount, making it flexible for service providers. It easily integrates with WordPress and Shopify and supports both bitcoin and bitcoin cash.
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CoinGate payment gateway supports 70+ cryptocurrencies, making it one of the most comprehensive crypto payment processors. It also provides multiple payment options to users like keeping the Crypto, converting it into fiat money, or settling one cryptocurrency with another.
Its inbuilt invoicing feature and powerful integration option make it the first choice for most Indian vendors.
BitPay crypto gateway falls among the most prominent crypto processer, supporting 90+ crypto wallets across 299 countries. Merchants can settle their payments either in Crypto or directly in their bank account without price volatility and zero risk.
It also offers multiuser login access and email billing tools along with daily payment settlement, which is essential for small businesses to maintain cash flows.
Binance Pay is one of the most used and trusted crypto payment solutions in the market. This contactless payment gateway allows users to send and receive crypto from all over the world without any handling fees. You can use this payment platform with over 60 million merchants.
Moreover, Binance also offers an in-built marketplace, where you can sell, bid or buy over 350 cryptocurrencies. The marketplace also has options to trade in NFTs.
With a robust marketplace and easy to handle UI, Bitcoiva provides access to 200+ crypto assets for buying, holding, trading, and earning. It offers a next-generation trading platform that supports various types of transactions and direct purchase options.
With lightning-fast order execution, multiple layers of security, high liquidity, and round-the-clock online customer support, Bitcoiva crypto payment gateway is definitely worth considering.
Crypto.com is the world’s leading cryptocurrency platform, trusted by over 80 million users worldwide. With Crypto.com, you can buy Bitcoin, Ethereum, and your favorite cryptocurrencies. This crypto payment solution offers a wide range of features, including price alerts, recurring buys, on-chain staking, and a Crypto Visa card.
Apart from ecommerce payment options, Stripe also a payment gateway cryptocurrency which offers a web3 payment gateway. You can easily process payment in fiat currencies with just a simple API integration. With this platform, you can easily pay customers, freelancers, and buy things online with multiple cryptocurrencies.
A recent report from Checkout.com states that 77% of the businesses who use crypto payment gateways have seen huge cross-border sales.
The data is solely enough to understand why businesses are turning towards a more dynamic and easy payment option- Cryptocurrencies. Let’s have a look at why business prefer crypto payment gateway:
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The payment gateway for cryptocurrency works differently from other online payment gateways. Cryptocurrency payment processors follow a decentralized peer-to-peer network to perform validation processes, exchange payment data, and update them in a distributed ledger.
A vendor/ seller needs to open a merchant account to receive payment. Generally, this is provided by the Crypto payment providers themselves. It has a unique wallet address that serves as the seller’s identity.
The crypto payment service provider provides a Cryptocurrency payment gateway API that could be integrated into a website or app to receive payment. Once your website has the cryptocurrency payment option, here is how a crypto payment gateway works during an actual transaction.
Customers opt for payment via cryptocurrency during checkout (on the web or in the app)
The crypto gateway calculates the required payment in terms of cryptocurrency specified by the buyer
The buyer pays the amount in Crypto through his crypto wallet
Blockchain is scanned using the integrated payment gateway, where nodes confirm and validate the transaction.
Once the transaction is confirmed, the fees is generated. Crypto payment gateway credits the merchant’s account with the desired cryptocurrency opted by him.
Crypto payment processor sends payment to a merchant in the designated bank account or other payment services like PayPal. This is done at regular intervals or as requested by the merchant.
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Now, you have the option to receive payments directly in your crypto wallet by providing the wallet address to a buyer. While this might be a good option for a few transactions, it doesn’t serve the need of businesses.
Allows you to receive and validate crypto payments securely
Reduces volatility risk as most of the gateways provide fixed buying and sell rate
Easily automate the payment and verification system on your website
Customer service of the crypto payment process helps to address different problems and delay
Build easy to use a solution like a bank account for non-technical users
Allows users to exchange the Crypto for fiat money or one Crypto to other Crypto easily
Invoicing and reconciliation function
The payment goes through a third party and becomes traceable, defeating the primary purpose of cryptocurrency
There are more downtimes and payment delays as the payments are completed in multiple steps by the gateway
Your payment gateway account is secured via login id and password, which could be hacked.
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There are multiple cryptocurrency payment gateways available in the market and we have discussed the best of them in this article. However, if you are still confused, here is a proper guide on how you can choose the best cryptocurrency payment gateway:
When you choose the best cryptocurrency payment gateway, many options are available, each with its unique features and supported cryptocurrencies. There are popular blockchain payment gateways like Coinbase, BitPay, and Binance Pay.
However, the choice should depend on factors like the cryptocurrencies you want to support, your business location, security, transaction fees, and customer support.
In short, the cryptocurrency payment gateway market is evolving, especially in India. So, you should consider integrating these gateways to facilitate international transactions and stay ahead in the world of digital payments.
Related Categories: CryptoCurrency Exchange Software | Stock Market Software | Payment Gateways
FAQs
Online businesses and retailers across the globe generally accept cryptocurrency. Microsoft, Tesla, and Amazon are leading companies that provide crypto payments.
Crypto Gateway is the platform that allows businesses to accept cryptocurrency payments on websites or mobile apps.
Cryptocurrency payment is a model in which consumers pay cryptocurrencies like Bitcoin, Dogecoin, or Ethereum to businesses in exchange for goods or services.
Every payment gateway for cryptocurrency can have different features and specializations—BitPay or Coinbase of the most popular payment gateway for cryptocurrency.
Generally, there are two ways of receiving payment through Cryptocurrency:
1. Integration on App/Website allows users to pay in digital currency during checkout.
2. POS link allows merchants to create a link to receive a specific payment.
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