If you have a rising business and are looking for a way to receive cryptographic payments, then a crypto processor is exactly what you will need. Cryptocurrency payment processors or gateways are, in fact, a popular option for all types and sizes of businesses. Large corporations as well as start-ups benefit from different processors accepting this state-of-the-art payment.
When you look for a reliable crypto payment processor, you should make your choice based on the features of each processor. Rapidz, for instance, allows all users to turn their coins into other digital currencies or fiat cash. And the cost of these operations is pretty affordable. No need to mention easy integration with ecommerce sites.
Definition of a crypto payment processor
A cryptocurrency payment processor and gateway are not the same thing, but they are basically similar. They offer processing and integration of cryptocurrencies with online websites. Using a reliable crypto processor lets you receive digital coins and exchange them for fiat money if you wish to.
Processors or gateways come from service providers whose mission is to facilitate payments between online sellers and shoppers who want to pay only using their digital coins. All that is required for this process to take place is the creation of a wallet with a reputable provider. Then through this account, your clients will make their payments in digital coins. Once your account receives the payment, the conversion happens instantly through your provider. This way, you will end up with your fiat cash without delays or substantial fees.
Crypto payment processors come in different shapes and sizes, and each one has some unique features. If you are curious about the best crypto payment gateways, here is a list of the top 5 processors.
1. Rapidz
This is one of the best solutions for a global digital finance solution. The headquarters of this company is located in Singapore. But it has branches in different places across the world, including Switzerland and Taiwan. It was founded in 2017. The services of the Rapidz App go beyond setting up a digital wallet. It has its own crypto currency, which is known as RPZX. Despite promising opportunities with investing in the RPZX token, you can use the digital wallet for exchanging and paying with different digital coins. Rapidz Wallet supports up to 10 popular crypto currencies.
The Rapidz processor is only available through an advanced smartphone application. This app is compatible with both iOS and Android devices. Through this app, you can easily and quickly purchase cryptocurrencies. You can also use it for making payments with digital coins. Also, you can use your Rapidz app to transfer your coins into fiat cash.
Using this app also allows you to easily reach other Rapidz users through the built-in messaging feature. The feature facilitates sending and receiving payments instantly among users. The app offers increased security features including face recognition and PIN locks. You get to use QR codes in this app for invoices.
One of the many things making Rapidz stand out is the free transactions between the app’s users. So, basically, you can make transfers to family or friends or another merchant around the world for free. As long as you both are registered Rapidz users, there are no fees charged to either of you.
2. CoinGate
This platform is known for its user-friendly interface and complete ease of use. 2014 was the founding year of this platform. It also allows transactions in numerous cryptocurrencies. In addition to digital coins, you can receive payments in traditional fiat currencies. The platform charges 1% on each transaction made by a user. Transactions on this platform are usually done within 60 minutes.
You can find a CoinGate plugin, but it is not available on all ecommerce platforms. The plugin is available only for specific platforms, such as Magento.
3. Coinsbank
This company has been around since 2016. Ever since it was founded, the platform has earned a decent reputation. The platform mainly focuses on processing Bitcoin and Litecoin. This could be a drawback if your clients are using numerous cryptocoins. However, you can count on it for receiving payments in international currencies such as EUR and USD. The exchange rates of this platform are determined based on the rates of live trading markets. This enables shoppers and merchants to determine the true value of the coins they are using. The platform does not have its own cryptocurrency and is accessible on smartphones and computers. This platform is also equipped with top-notch security to protect your funds and the privacy of your transactions.
4. AlfaCoins
This provider is a bit older than the vast majority of all the others, as the company was founded back in 2013. This processing service has something that makes it stand out. Alfacoin’s processor allows you to keep some of your earned cryptocurrencies if you wish to. So, if you want to invest in some bitcoins, this processor lets you split the income into traditional cash and digital coins. The fees for transactions charged by this processor are another pro. They charge less than 1% of each transaction, and it is not mandatory for you to pay for the fees. Either you or your clients decide.
5. BitPay
This one has been around for over a decade, as it was founded in 2011. The company was one of the first players in the cryptocurrency transfer field. The company started with BitCoin and then grew to support many others such as BitCoin Cash, DAI, Ethereum, and so on. Besides major cryptocurrencies, this platform allows you to get your fiat cash in many major international currencies such as USD, GBP, EUR, and many others.
BitPay allows you to use QR codes for dealing with invoices. On every completed transaction, you will have to pay a 1% fee. BitPay offers state-of-the-art security for data and payments. The platform uses two-factor authentication. This simply means another layer of protection for account access that goes beyond standard signing-in requirements. Such a thing guarantees improved protection for users’ money and information. Ease of use is one of the highly appreciated features of this well-known gateway.