Cryptocurrency payment gateways allow businesses to accept transactions of cryptocurrencies as payment from customers in exchange for goods or services. These systems accept payments from any country and put an emphasis on security due to the nature of blockchain-based cryptocurrencies.
When the customer makes a purchase using a cryptocurrency as payment, the transaction often goes through the payment gateway at a fixed exchange rate and automatically converts to traditionally recognized fiat currency so the merchant can avoid the volatility of the cryptocurrency markets. However, some cryptocurrency payment gateways do not automatically transfer the cryptocurrency to fiat currency, allowing the merchant to hold the digital coins as long as they prefer, usually inside a cryptocurrency wallet.
Cryptocurrency payment gateways tend to offer lower fees than traditional credit card payment systems. Some of these tools can be highly customizable and provide native dashboards to help track all payments. Bitcoin is the most commonly supported cryptocurrency used during transactions with these systems, but some gateways provide the ability to pay with alternative cryptocurrencies, such as Ether, Litecoin, and Bitcoin Cash, among others. Cryptocurrency payment gateways can integrate with e-commerce platforms, point-of-sale systems, shopping cart software, billing and accounting solutions, and more.
To qualify for inclusion in the Cryptocurrency Payment Gateway category, a product must: