Best Cryptocurrency Payment Gateway in India to Accept Bitcoin in 2024

Summary: Cryptocurrencies are a new trend in the financial sector, and more and more businesses are towards crypto payment gateways for their online business. Find out the best crypto payment gateways in India and their features and pros & cons for the better understandings.

Cryptocurrency is the future of online payment, and we can say this confidently because millions of online cloud services and eCommerce websites already offer Bitcoin and other cryptocurrencies as a payment mode.

In India, Government has recently taxed profits from Crypto at 30%, which indicates that Crypto transactions have a future in the Indian market. Like UPI, Crypto could soon be the new payment method for online services and eCommerce websites.

However, these businesses need to integrate a Crypto payment gateway to accept bitcoin on their website or app. There are many Crypto payment providers, but most of them do not fit the Indian market.

This article will provide you with all the information related to crypto payment along with some of the best crypto gateway services in India.

What Is Crypto Payment Gateway?

In simple terms, Crypto Payment Gateway is a service that lets you accept cryptocurrency as a mode of payment for your goods and services. It can be integrated on your website, mobile app, or to receive payment via a link.

Every payment you make online is processed through a payment gateway like CCavenue, RazorPay, etc. These payment gateways provide payment modes like credit cards, debit cards, net banking, UPI, etc.

On the contrary, Crypto gateway receives payment from the buyer’s crypto wallet and deposits it in the seller’s crypto wallet. The Crypto payment processor also converts and deposits fiat currencies directly in the vendor’s bank account after deduction of necessary charges.

A suitable crypto payment processor could accept all popular Cryptocurrencies like Bitcoin, Dogecoin, Litecoin, Ethereum, Tether, etc.

Suggested Read: What is Cryptocurrency? Complete Cryptocurrency Guide For Beginners

List of Best Cryptocurrency Payment Gateways in India 2024

Product	Payment Method	Platform Supported	Processing Fee	Rating	Cryptocurrency Accepted
Coinbase	Cryptocurrency	Web, Mobile	Flat 1% transaction fee	4.5/5	Bitcoin, Ethereum, Litecoin, and 250 others
Blockonomics	Cryptocurrency	Web	1% transaction fee	4.2/5	Bitcoin and Etherum
CoinGate	Cryptocurrency	Web, Mobile	1%	4.3/5	Bitcoin, Ethereum, and 70 more
BitPay	Cryptocurrency	Web, Mobile	1-2% with 25¢ for each transaction	4.4/5	Bitcoin, Bitcoin Cash and 250+
Binance Pay	Cryptocurrency	Web, Mobile	$0.5-1 based on transaction value	4.6/5	Over 300 cryptocurrencies
Bitcoiva	Cryptocurrency	Web, Mobile	O.2 for every transaction with 0.1 TDS	4.1/5	Bitcoin, Ethereum, and 200 more
Crypto.com	Cryptocurrency	Web, Mobile	0.04 to 0.20%	4.7/5	Over 200 cryptocurrencies
Stripe	Cryptocurrency & regular currency	Web, Mobile	2-3% based on transactions	4.3/5	135+ currencies

Indian vendors must look for the crypto payment gateways that provide services in India and allows adding an Indian bank account to receive payments. Here are some of the most trusted, payment accepting Cryptocurrency payment gateways.

• Coinbase

Coinbase is a popular crypto brokerage platform that enables the merchant to transact in seven popular cryptocurrencies. It also provides invoicing features allowing vendors to generate bills based on specified cryptocurrency.

Besides, Coinbase crypto also has an extremely simple user interface, and merchants could get started simply with email signup.

Coinbase Features

• Hosted checkout pages
• Dedicated account manager
• Integrated invoicing

Pros and Cons of Coinbase

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• Blockonomics

Blockonomics is another cryptocurrency gateway widely popular for its simplicity and the delightful checkout experience.

It allows users to create their payment link for a specified amount, making it flexible for service providers. It easily integrates with WordPress and Shopify and supports both bitcoin and bitcoin cash.

Features of Blockonomics Crypto Payment Platform

• No KYC/Documentation
• Free First 20 transactions
• Custom payment link

Pros and Cons of Blockonomics

Suggested Read: Best Payment Gateways in India For Secure Online Payments

• CoinGate

CoinGate payment gateway supports 70+ cryptocurrencies, making it one of the most comprehensive crypto payment processors. It also provides multiple payment options to users like keeping the Crypto, converting it into fiat money, or settling one cryptocurrency with another.

Its inbuilt invoicing feature and powerful integration option make it the first choice for most Indian vendors.

Features of CoinGate

• Multiple pay-out options
• 70+ Cryptocurrency support
• Instant email billing solution

Pros and Cons of CoinGate

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• BitPay

BitPay crypto gateway falls among the most prominent crypto processer, supporting 90+ crypto wallets across 299 countries. Merchants can settle their payments either in Crypto or directly in their bank account without price volatility and zero risk.

It also offers multiuser login access and email billing tools along with daily payment settlement, which is essential for small businesses to maintain cash flows.

Features of BitPay

• Payment settlement in 138+ countries, including India
• Automatically handles payment exception
• Multiuser login access

Pros and Cons of BitPay

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• Binance Pay

Binance Pay is one of the most used and trusted crypto payment solutions in the market. This contactless payment gateway allows users to send and receive crypto from all over the world without any handling fees. You can use this payment platform with over 60 million merchants.

Moreover, Binance also offers an in-built marketplace, where you can sell, bid or buy over 350 cryptocurrencies. The marketplace also has options to trade in NFTs.

Features of Binance Pay Cryptocurrency Gateway

• Single crypto wallet for all your crypto transactions
• You can set up buying and selling crypto alerts
• Robust security features with real-time risk monitoring
• Inbuilt news platform for crypto, web3, and finance

Pros and Cons of Binance Pay

• Bitcoiva

With a robust marketplace and easy to handle UI, Bitcoiva provides access to 200+ crypto assets for buying, holding, trading, and earning. It offers a next-generation trading platform that supports various types of transactions and direct purchase options.

With lightning-fast order execution, multiple layers of security, high liquidity, and round-the-clock online customer support, Bitcoiva crypto payment gateway is definitely worth considering.

Features of Bitcoiva

• Minute by minute price tracking with advanced charts options
• Instant swap options for crypto and fiat currencies
• Offers a real-time exchange option
• Advanced passcode and 2FA security options

Pros and Cons of Bitcoiva

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• Crypto.com

Crypto.com is the world’s leading cryptocurrency platform, trusted by over 80 million users worldwide. With Crypto.com, you can buy Bitcoin, Ethereum, and your favorite cryptocurrencies. This crypto payment solution offers a wide range of features, including price alerts, recurring buys, on-chain staking, and a Crypto Visa card.

Features of Crypto.com

• Offers various blockchain products and cryptocurrencies
• Crypto.com also offers a visa credit card for more easy, decentralized transactions
• You can pay merchants with 30+ cryptos

Pros and Cons of Crypto.com

• Stripe

Apart from ecommerce payment options, Stripe also a payment gateway cryptocurrency which offers a web3 payment gateway. You can easily process payment in fiat currencies with just a simple API integration. With this platform, you can easily pay customers, freelancers, and buy things online with multiple cryptocurrencies.

Features of Stripe Cryptocurrency Payment Gateway

• Accept and pay with over 130 cryptos worldwide
• Has an ML model to detect fraud for better security
• Robust KYC ensures the legitimacy of users
• With Stripe, you have the access to Crypto Exchanges, NFT Marketplaces and wallets

Pros and Cons of Stripe Crypto Payments Gateway

Why Do Businesses Prefer Crypto Payment Gateway?

A recent report from Checkout.com states that 77% of the businesses who use crypto payment gateways have seen huge cross-border sales.

The data is solely enough to understand why businesses are turning towards a more dynamic and easy payment option- Cryptocurrencies. Let’s have a look at why business prefer crypto payment gateway:

• Global Acceptance: Many regular payment gateways like PayPal or Skrill do not work in every country. However, they eliminates these issues, as cryptocurrencies are accepted globally, and it is not tied to traditional banking systems. Moreover, it can be used by anyone with internet access.
• Fast and Easy Transaction: When you use a traditional online payment system, there might be times when your bank or the payment platform’s server is not working properly which may result in slow or failed transactions. However, cryptocurrency transactions are based on blockchain payment gateway technology, and those can be processed quickly, reducing the time in receiving payments.
• Lower Transaction Fees: One of the main reasons why businesses are turning toward the crypto payment gateway is that it offers low transaction fees. Crypto transactions can have lower processing fees compared to traditional payment methods, which can save money for businesses as well as the customers.
• High Privacy: Unlike traditional payment methods, cryptocurrencies offer users a greater degree of privacy. By using them, businesses don’t need customers to provide details like credit or debit card numbers, or any other personal detail. Customers can make payments directly through unique wallet addresses, making it impossible for anyone to trace any private information.

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How Does Crypto Payment Gateway Work?

The payment gateway for cryptocurrency works differently from other online payment gateways. Cryptocurrency payment processors follow a decentralized peer-to-peer network to perform validation processes, exchange payment data, and update them in a distributed ledger.

A vendor/ seller needs to open a merchant account to receive payment. Generally, this is provided by the Crypto payment providers themselves. It has a unique wallet address that serves as the seller’s identity.

The crypto payment service provider provides a Cryptocurrency payment gateway API that could be integrated into a website or app to receive payment. Once your website has the cryptocurrency payment option, here is how a crypto payment gateway works during an actual transaction.

Cryptocurrency Payment Flow

• Customers opt for payment via cryptocurrency during checkout (on the web or in the app)

• The crypto gateway calculates the required payment in terms of cryptocurrency specified by the buyer

• The buyer pays the amount in Crypto through his crypto wallet

• Blockchain is scanned using the integrated payment gateway, where nodes confirm and validate the transaction.

• Once the transaction is confirmed, the fees is generated. Crypto payment gateway credits the merchant’s account with the desired cryptocurrency opted by him.

• Crypto payment processor sends payment to a merchant in the designated bank account or other payment services like PayPal. This is done at regular intervals or as requested by the merchant.

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Pros & Cons of Cryptocurrency Payment Gateway

Now, you have the option to receive payments directly in your crypto wallet by providing the wallet address to a buyer. While this might be a good option for a few transactions, it doesn’t serve the need of businesses.

Advantages of Crypto Gateway

• Allows you to receive and validate crypto payments securely

• Reduces volatility risk as most of the gateways provide fixed buying and sell rate

• Easily automate the payment and verification system on your website

• Customer service of the crypto payment process helps to address different problems and delay

• Build easy to use a solution like a bank account for non-technical users

• Allows users to exchange the Crypto for fiat money or one Crypto to other Crypto easily

• Invoicing and reconciliation function

Disadvantages of Using a Cryptocurrency Gateway

• The payment goes through a third party and becomes traceable, defeating the primary purpose of cryptocurrency

• There are more downtimes and payment delays as the payments are completed in multiple steps by the gateway

• Your payment gateway account is secured via login id and password, which could be hacked.

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How to Choose Best Cryptocurrency Payment Gateway?

There are multiple cryptocurrency payment gateways available in the market and we have discussed the best of them in this article. However, if you are still confused, here is a proper guide on how you can choose the best cryptocurrency payment gateway:

• Supported Cryptocurrencies: Different crypto payment gateways support different cryptocurrencies. So, make sure the gateway you choose supports multiple cryptocurrencies, whether it’s Bitcoin, Ethereum, Litecoin, or other altcoins.
• Country Coverage: While looking for a crypto payment solution, check if the payment gateway is available in your country or region. Some gateways have geographical restrictions, so ensure it supports your business location.
• Ease of Integration: The gateway should be easy to integrate into your existing website or platform. Look for gateways that offer plugins or APIs compatible with your technology stack.
• Security: Security is crucial with any online payment platform. Choose a payment gateway that has robust security measures to protect your customers’ data.
• Transaction Fees: While many cryptocurrency payment gateways have competitive rates, they can vary. So, look for a gateway with transparent fee structures.
• Customer Support: Responsive customer support can be a lifesaver if you encounter any issues. Ensure the payment gateway offers accessible and helpful customer service.

Conclusion: Which Payment Gateway is Best for Cryptocurrency?

When you choose the best cryptocurrency payment gateway, there are many options available, each with its unique features and supported cryptocurrencies. There are popular blockchain payment gateways like Coinbase, BitPay, and Binance Pay.

However, the choice should depend on factors like the cryptocurrencies you want to support, your business location, security, transaction fees, and customer support.

In short, the cryptocurrency payment gateway market is evolving, especially in India. So, you should consider integrating these gateways to facilitate international transactions and stay ahead in the world of digital payments.

Related Categories: CryptoCurrency Exchange Software | Stock Market Software | Payment Gateways

FAQs Related to Crypto Payment Gateways