Bitcoin Cash is a cryptocurrency that has gained popularity as a fast and low-cost payment option. However, for merchants and consumers to use Bitcoin Cash efficiently, they need reliable and user-friendly payment processors. In this article, we will explore the most popular Bitcoin Cash payment processors, their features, and their pros and cons. Here is a crypto tip that can be a game changer. Find out how Quantum AI can help you turn your cryptocurrency investments into a valuable venture.
Top Bitcoin Cash Payment Processors
BitPay is one of the oldest and most established Bitcoin payment processors, founded in 2011. It has processed over $10 billion worth of Bitcoin payments for thousands of merchants worldwide, including Microsoft, Shopify, and Newegg. BitPay allows merchants to accept Bitcoin and Bitcoin Cash payments, which are settled in fiat currency, such as USD or EUR, to avoid volatility risk.
One of BitPay’s main features is its ease of integration. Merchants can use BitPay’s plugins or APIs to integrate Bitcoin and Bitcoin Cash payments into their website or point-of-sale system. BitPay also offers plugins for popular e-commerce platforms like WooCommerce, Magento, and Shopify, as well as integrations with payment gateways like PayPal and Stripe.
BitPay charges a flat 1% processing fee for Bitcoin and Bitcoin Cash transactions, which is lower than many other payment processors. However, BitPay’s fees for currency conversion, withdrawal, and refunds can be higher and more complex. BitPay also offers a range of premium features and services for larger merchants, such as compliance and security tools, instant settlement, and custom invoicing.
- Coinbase Commerce
Coinbase is one of the most popular cryptocurrency exchanges and wallets, with millions of users worldwide. In 2018, Coinbase launched Coinbase Commerce as a new service for merchants to accept cryptocurrency payments, including Bitcoin Cash. Coinbase Commerce aims to make cryptocurrency payments simple, secure, and accessible for all types of businesses.
One of the main advantages of Coinbase Commerce is its integration with Coinbase’s ecosystem. Merchants can use their existing Coinbase account to receive and manage Bitcoin Cash payments, without needing to set up a separate wallet or exchange account. Coinbase Commerce also provides a range of plugins and APIs for easy integration with popular e-commerce platforms and point-of-sale systems.
Coinbase Commerce charges no fees for cryptocurrency payments, making it one of the most cost-effective payment processors. However, Coinbase Commerce does not provide currency conversion services, so merchants need to handle the conversion to fiat currency themselves or use a separate service. Coinbase Commerce also has some limitations, such as a $50 minimum payment threshold and a lack of support for refunds and disputes.
GoCoin is a cryptocurrency payment processor that was founded in 2013, making it one of the oldest in the industry. GoCoin allows merchants to accept Bitcoin Cash and other cryptocurrencies, including Litecoin and settle them in fiat currency. GoCoin’s main focus is on providing a seamless and secure payment experience for both merchants and consumers.
One of GoCoin’s key features is its compatibility with a range of platforms and technologies. Merchants can use GoCoin’s plugins, APIs, or SDKs to integrate cryptocurrency payments into their website or mobile app, as well as into popular e-commerce platforms like Magento and WooCommerce. GoCoin also offers a white-label solution for larger merchants who want to customize their payment experience.
GoCoin charges a flat 1% fee for all cryptocurrency transactions, regardless of the currency or volume, which is competitive with other payment processors. GoCoin also offers free currency conversion and fast settlement times, typically within 24 hours.
CoinPayments is a cryptocurrency payment processor that was founded in 2013 and is based in Canada. CoinPayments supports over 2,000 cryptocurrencies, including Bitcoin Cash, and allows merchants to accept payments in multiple currencies, including fiat currency. CoinPayments aims to provide a comprehensive and flexible payment solution for businesses of all types and sizes.
One of CoinPayments’ main features is its wide range of integrations and plugins. Merchants can use CoinPayments’ plugins or APIs to integrate cryptocurrency payments into their website or e-commerce platform, including popular ones like Shopify and WooCommerce. CoinPayments also offers a point-of-sale app, mobile wallet, and various merchant tools, such as invoicing and donation buttons.
CoinPayments charges a flat 0.5% fee for all transactions, which is one of the lowest in the industry. CoinPayments also offers free currency conversion and withdrawal, and instant settlement for over 50 cryptocurrencies, including Bitcoin Cash. CoinPayments also provides various security features and tools, such as two-factor authentication, cold storage, and multi-signature wallets.
In conclusion, Bitcoin Cash payment processors offer merchants and consumers a convenient and low-cost way to transact with cryptocurrency. The most popular Bitcoin Cash payment processors, such as BitPay, Coinbase Commerce, GoCoin, and CoinPayments, provide a range of features and integrations to meet different needs and preferences.