How to accept bitcoin payments in a business
Tool & app

How to accept bitcoin payments in a business

By Emanuele Pagliari - 21 Jul 2019

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Many owners of businesses or online shops often ask themselves if and how they can accept bitcoin payments.

Luckily, there are dozens of platforms that fulfil this role. These are some of them and the way they work.

How to accept bitcoin payments: the available platforms

BitPay

The most widely known platform for accepting bitcoin and bitcoin cash payments is definitely BitPay.

When registering an activity, it is possible to create an account with the relevant wallet in order to accept payments.

It is also possible to decide whether to keep the amount received in bitcoin or to convert it into the local currency and receive it by bank transfer. Alternatively, there is also the option to make a partial deposit in FIAT currency to the account and keep the remaining part in cryptocurrencies.

There is also a mobile and PC application allowing the platform to be used in retail stores. A really interesting and complete solution, since there are also several plugins ready to integrate the service on major web platforms. Commission fees amount to approximately 1% of the transaction amount.

Coinbase Commerce

Over the past year, Coinbase has decided to enter the sector of payments connected with commercial activities. More in detail, the well-known cryptocurrency gateway has introduced the Coinbase Commerce service, with the homonymous plugin, similar to PayPal.

Like BitPay, Coinbase also quickly confirms payments without the risk of chargeback. Thus, the risk of being scammed is drastically reduced. In case of errors or cancellations, it will still be possible to refund users. The platform accepts several cryptocurrencies besides bitcoin, including bitcoin cash, litecoin and ethereum.

Coinbase Commerce also deals with the conversion of cryptocurrencies into cash and the subsequent sending to the bank account of the activity, all within 2-3 working days. Finally, the mobile application is available in this case as well.

Tinkl.it

Tinkl.it is an Italian platform that offers businesses the possibility of accepting BTC payments.

Similarly to the others already mentioned, Tinkl.it automatically converts payments into euros. Obviously, there is no lack of APIs and appropriate applications to implement the service on the terminals that can be installed in the store or on an e-commerce website.

Coingate

Coingate, in addition to being an exchange, is also a payment platform that supports several cryptocurrencies, including bitcoin, ethereum, litecoin, DASH and many other altcoins. It offers the automatic conversion of payments into euros.

Commission fees amount to 1% and the service offers APIs, Plugins and applications for major mobile devices, allowing the system to be used in-store.

Coinify

Another crypto payment service is Coinify. In addition to being an exchange, it allows accepting bitcoin and other cryptocurrency payments in commercial activities.

GoUrl.io

GoUrl.io is a gateway for cryptocurrency payments. It is completely Open Source and does not charge fixed monthly fees. GoUrl.io supports several cryptocurrencies besides bitcoin, such as DASH, litecoin and bitcoin cash.

Commissions vary according to the type of service. Typically, for classic online payments, they amount to 1.5%. Here again, there is no shortage of different plugins, APIs or other integration systems for e-commerce activities.

CoinPayments

Another very interesting service is CoinPayments, a platform that in addition to offering the possibility of accepting payments in bitcoin and other cryptocurrencies, also offers a virtual safety-deposit box, containing funds that cannot be used before a certain period of time has elapsed. It was often used by ICOs as it also offers an escrow service.

Here, too, there is no shortage of plugins, smartphone applications and even a user-friendly interface to be integrated into POS devices. The fees are really low, given that they amount to 0.5%

BitcoinPay

BitcoinPay, like the others, also offers everything necessary for the integration of a crypto payment service in an e-commerce: APIs, mobile Apps, plugins and more. Fees are 0.8% and it is possible to receive payments in euros and other currencies.

It offers a good level of customisation and ad-hoc solution depending on the type of service being used. Unfortunately, it only accepts bitcoin.

GoCoin

GoCoin was born in 2013 and allows accepting payments in bitcoin, litecoin and dash. The conversion to euro will take place automatically and there is no shortage of plugins, etc. Commissions amount to 1%.

InBitcoin

InBitcoin.it is an Italian platform, which in addition to allowing payments in bitcoin, also offers other services, including banking integration, a Bitcoin SegWit wallet and a real credit card in bitcoin.

Obviously, the company also develops further products for the use of bitcoin, blockchains and cryptocurrencies.

It is located in Rovereto (Italy), where it contributed to the adoption of bitcoin and the ability to accept cryptocurrency payments. For all the details and possible contacts please consult the official website.

Globee

Globee allows accepting payments in various cryptocurrencies, including bitcoin, dogecoin, monero and others.

This is also a very flexible platform and offers all the necessary tools for e-commerce integration. There are different packages: the first does not have monthly fees but imposes transactions for a minimum value of 10 dollars, from which it retains 1%.

Transaction fees can be removed by switching to the more advanced version and paying $30 a month. Then there is also the business variant, which removes practically all limits. 

Paymium

Paymium, in addition to allowing bitcoin payments, is also a dedicated exchange for traders. It offers, like all the other solutions, APIs, plugins, etc. Commissions are very low but vary depending on the type of service being used.

Blockchain.com

Finally, there is the famous Blockchain.com wallet, which can also be used to accept bitcoin payments. For now, it does not offer the possibility of converting payments into euros, but it can be used by those who want to hold the bitcoins received from payments.

Emanuele Pagliari
Emanuele Pagliari

Telecommunications engineer with a strong passion for technology. His adventure in the world of blogging started on GizChina.it in 2014 and then continued on LFFL.org and GizBlog.it. Emanuele is in the world of cryptocurrency as a miner since 2013 and today he follows the technical aspects related to blockchain, cryptography and dApp, also for applications in the Internet of Things.

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