Are you tired of seeing the same cryptocurrency payment alternatives everywhere, with zero to little place for customization? The world of crypto is ever-evolving and this creates competition for the most popular crypto payment gateways.
Even though Coinpayments is a seasoned veteran, newcomers are emerging, offering innovative new features and competitive pricing, tempting businesses to explore new opportunities.
In this comprehensive guide, we’ll dive deep into seven top Coinpayments alternatives, looking at the unique strengths and potential limitations of each of them, so that you can make a more informed decision for your own business needs.
Coinpayments: A Familiar Friend with Some Limitations
What is Coinpayments and its Benefits?
Coinpayments is a cryptocurrency payment gateway allowing businesses to accept cryptocurrency payment, and it has been serving businesses for years. In this article we’ll explore its key features and what businesses like yours are looking for when considering how to accept cryptocurrency and how to pay with Bitcoin online.
- Wide range of supported currencies: Coinpayments boasts support for over 2,000 cryptocurrencies and fiat currencies, offering flexibility for merchants and customers alike.
- User-friendly interface: Many users appreciate the platform’s ease of use and intuitive design, making it accessible even for those less familiar with crypto.
- Flexible payment options: Coinpayments offers various payment methods beyond just direct crypto transactions, including invoices, payment buttons, and virtual terminals. This caters to businesses with diverse needs.
Limitations of Coinpayments
Despite its advantages, Coinpayments faces some limitations, as evident in customer reviews:
- Relatively high transaction fees: Compared to newer competitors such as Cryptody, Coinpayments’ fees can be steeper, impacting business profit margins. One user on Capterra mentions: “The fees are starting to feel quite high compared to newer options, affecting my bottom line.”
- Limited customization options: Some users express dissatisfaction with the lack of customization options for the payment interface, hindering branding efforts. A Trustpilot review states: “I wish they offered more ways to customize the look and feel of the payment widget to match my brand.” This is particularly relevant for big players.
Compliance concerns: Coinpayments is based in the Cayman Islands, which was placed on the AML grey list (high-risk for anti-money laundering and countering the financing of terrorism) for a few years. While the authorities, including the EU, recently removed the Cayman Islands from the EU’s list of high-risk third countries for AML/CFT purposes, the regulations in place may still be less strict than those in Europe, where some Coinpayments alternatives, such as Cryptody, are based.
- Dated interface: While user-friendly, the platform’s interface might feel outdated compared to more modern offerings, affecting the overall user experience. A GetIntent review mentions: “The platform looks a bit older compared to some newer gateways, but it still works well.”
Top 7 Coinpayments Alternatives for Improved Profits and Customization
While many appreciate Coinpayments’ ease of use and wide currency support, concerns about relatively high transaction fees, limited customization options, dated interface and safety are rising.
Given this, let’s delve into seven exciting Coinpayments alternatives, each with unique strengths to consider.
#1. Cryptody: Customization Champion!
- Highly customizable: Offers white-label solutions and extensive customization options, catering to businesses of all sizes and specific needs.
- Fast transactions: Boasts blazing-fast transaction speeds, minimizing wait times and improving user experience.
- Competitive fees: Low transaction fees make it an attractive option for cost-conscious businesses.
- EU-based: Located in Lithuania within the European Union, potentially appealing to users seeking EU-compliant solutions.
- Strict compliance: Adheres to strict EU regulations and implements KYC/AML procedures, ensuring regulatory compliance and security.
- Limited brand recognition: Compared to more established players, Cryptody might have lower brand awareness.
Overall: Cryptody stands out with its extensive customization, fast transactions, and competitive fees, making it a strong contender for businesses seeking a flexible and cost-effective solution. Book your demo here!
#2. BitPay
- Extensive currency support: Accepts a wide range of cryptocurrencies and fiat currencies, making it versatile for international businesses.
- Robust security: Implements strong security measures to protect user data and transactions.
- Well-established reputation: Holds a leading position in the crypto payment processing industry, trusted by many businesses.
- Higher fees: Compared to some competitors, BitPay's transaction fees can be steeper.
- Complex interface: Beginners might find the platform overwhelming and navigating advanced features challenging, as noted in a Capterra review: "The platform can be overwhelming for beginners, and navigating advanced features can be confusing."
Overall: BitPay offers a comprehensive and secure solution for accepting crypto payments, but with potential drawbacks in terms of cost and user-friendliness.
#3. Coinify
- Scalability: Handles high-volume transactions efficiently, making it suitable for large businesses with significant crypto activity.
- Compliance focus: Prioritizes regulatory compliance, offering peace of mind for businesses operating in complex regions.
- Price: May not be cost-effective for smaller businesses due to potentially higher pricing structures.
- Limited customization: Offers fewer customization options compared to some competitors, potentially restricting specific needs.
- Complex setup: Setting up and integrating the platform can be challenging, requiring technical expertise, as noted in a Capterra review: "Setting up an account and integrating it with my platform was more complex than expected, requiring significant technical expertise."
Overall: Coinify excels in handling high-volume transactions and prioritizing compliance, but its pricing, limited customization, and complex setup might not be ideal for smaller businesses or those needing extensive personalization.
#4. Coingate
- User-friendly interface: Simplifies the crypto payment process for both merchants and customers, ideal for beginners.
- Diverse plugins: Offers various plugins for easy integration with different platforms and websites.
- Recurring payments & conversions: Streamlines subscription services and simplifies currency management.
- Located in EU: Just like Cryptody, located in Lithuania, which is more appealing to European users.
- Limited reporting features: Lacks detailed data insights compared to other gateways, hindering comprehensive analysis, as mentioned in a Capterra review: "The reporting tools are basic and lack the detailed insights offered by other gateways, making data analysis challenging."
- Moderate compliance: While less strict than some, compliance requirements can still be significant for high-volume or high-risk transactions.
Overall: Coingate’s user-friendly design and diverse plugins make it attractive for beginners and businesses seeking convenience. However, limited reporting features and moderate compliance might not suit users requiring in-depth analytics or operating in high-risk environments.
#5. Coinbase Commerce
- Seamless fiat conversions: Automatically converts crypto payments to USD Coin (USDC) for effortless accounting and eliminates volatility concerns.
- Robust security: Implements comprehensive security measures to protect user data and transactions, fostering trust and peace of mind.
- Limited features: Compared to some alternatives, Coinbase Commerce might offer fewer features or customization options.
- Integration challenges: Integrating with specific platforms can be complex, requiring additional development work or workarounds, as noted in a Capterra review: "Integrating with specific platforms can be challenging, requiring additional development work or workarounds."
Overall: Coinbase Commerce excels in providing convenient fiat conversions and strong security. However, its potentially limited features, integration complexities, and distributed company structure might be drawbacks for certain users.
#6. NOWPayments
- Instant settlements: Funds are instantly converted and transferred, providing quick access to revenue.
- Extensive multi-currency support: Accepts a wide range of cryptocurrencies, catering to a global audience.
- User-friendly platform: Simplifies the integration and management of crypto payments, ideal for beginners.
- Variable transaction fees: Fees can differ depending on the chosen payment method, potentially making cost comparison challenging.
- Limited customer support: Resources and responsiveness might be insufficient for complex queries or technical issues, as noted in a Capterra review: "Customer support resources and responsiveness could be improved, especially for complex inquiries or technical issues."
- Restricted brand recognition: Limited options for tailoring the payment experience to your brand, potentially impacting user engagement, as mentioned in a GetIntent review: "While user-friendly, the platform offers limited customization options for branding the payment experience."
Overall: NOWPayments offers quick settlements, diverse currency support, and a user-friendly platform. However, variable fees, limited customer support, and restricted brand customization could be drawbacks for businesses seeking advanced features or comprehensive assistance
#7. Cryptomus
- User friendly design: Simplifies crypto payment integration and management, even for beginners.
- Varied payment options: Offers multiple cryptocurrency and fiat currency payment methods, catering to diverse needs.
- Competitive fees: Compared to some competitors, Cryptomus might offer lower transaction fees, making it potentially cost-effective.
- Limited features: May have fewer functionalities or customization options compared to other gateways, potentially restricting flexibility.
- Restricted fiat support: The available fiat currencies might be limited, hindering usability for businesses operating globally, as noted in a Capterra review: "Compared to other options, the platform's support for fiat currencies might be more limited, restricting its usability for global businesses."
- Unclear fee structure: Some users find the fee structure confusing or difficult to understand, potentially leading to miscalculations and higher costs, as mentioned in a GetIntent review: "Some users mention the fee structure being unclear or difficult to understand, leading to confusion and potential overcharges."
Overall: Cryptomus offers a user-friendly platform with competitive fees and various payment options. However, its potentially limited features, restricted fiat support, and unclear fee structure could be drawbacks for certain businesses, particularly those operating globally or requiring extensive functionalities.
How to Choose the Best Cryptocurrency Payment Gateway For Your Needs?
Now you might be asking yourself: “With this diverse landscape, how do you pick the perfect fit?”
Consider these factors:
- Supported currencies: Does the gateway cover the coins your customers use the most?
- Transaction fees: Compare fee structures and identify cost-effective options.
- Security: Opt for a gateway with robust security measures to protect your business and customers.
- Integration: Ensure seamless integration with your existing systems and platforms.
- Customer support: Reliable and responsive support is crucial for smooth operations.
- Customization: If branding and a unique look and feel are important, prioritize gateways offering that option.
If customization, speed, affordability, and branding control matter to you, Cryptody deserves a closer look. Its white-label solutions let you tailor the gateway to your brand, while its lightning-fast transactions and low fees ensure a smooth payment experience for you and your customers.
Conclusion
The dynamic world of crypto payments presents exciting opportunities for businesses. By exploring alternatives to Coinpayments and choosing a gateway that aligns with your unique needs, you can unlock the full potential of crypto to empower your business growth. Whether you’re looking for lower fees, safer solutions or more advanced user interface, this list got you covered.
Ready to discover how Cryptody can transform your business? Book your demo version now!
