Crypto Payment Gateways: Similarities and Differences
Crypto popularity and demand is growing with every passing day. Consequently, the market enjoys an increasing number of services that allow users to earn, convert, exchange, store, and spend cryptocurrencies. Businesses that focus on one type of service quickly lose their user base due to the inconvenience customers feel when having to constantly switch platforms. Nowadays, all-in-one universal platforms are trending where users can exchange and buy cryptocurrencies and purchase goods using digital assets.
The growing popularity of cryptocurrencies has led to the increased demand for crypto processing services that help businesses handle payments in crypto. Crypto processing solutions can be implemented not only in online shops but also in offline “brick-and-mortar” stores. The first crypto processing service was launched in 2011 by a company called BitPay, which still retains a position among industry leaders.
In 2021, the crypto processing market now includes over two dozen players, the most advanced of which we will discuss here. Each service has its distinctive features: geographical coverage, fee structure, and solutions pack. Clients can easily find solutions that best suit their business needs. Here we review Cryptoprocessing by CoinsPaid, B2Binpay, CoinGate, BitPay, CoinPayments, CryptoPay, and DAOWallet. They differ by the number of cryptocurrencies and means of payments accepted. Some allow withdrawals and exchange, while others issue prepaid cards. These are some of the distinctive features we uncover in this review.
Which factors are critical in choosing a crypto processing service that suits your business needs?
In which industries does the service operate
Each crypto processing provider works in a certain niche. For example, the main arena for CoinPayments consists of online stores, hotels, and gift cards. Depending on the clients’ needs, the service provides more than 30 e-commerce plugins. Cryptoprocessing by CoinsPaid is a leader in processing payments for iGaming and offers unique solutions for the gaming and gambling industry, where payment security is the cornerstone of business. Apart from that, Cryptoprocessing.com targets e-commerce and forex, considering these sectors as promising areas for development. In general, B2B solutions by CoinsPaid helps businesses to cut expenses on payments up to 90%, which made the company one of the industry leaders last year.
B2BinPay works with forex, exchanges, and ETF-funds. CoinGate and CryptoPay focus on e-commerce. In particular, CoinGate deals in the luxury sector, the entertainment industry, and software development. Also, the service works in such sectors as gambling, gaming, and adult entertainment. CoinPayments provide services in the areas of web hosting, telecom, entertainment, trading software as well as online courses and various internet shops. DAOWallet works in iGaming, VPN, eSports, e-commerce, and SaaS-solutions and provides the service to medical and non-profit projects. It is one of few crypto processing services that is ready to work with high-risk projects.
Published at Tue, 16 Feb 2021 19:45:00 +0000
