Bitcoin adoption on a rise...Number of companies accepting bitcoin is on an upward trend. For anyone looking to get started, here is a list...

In the past years, bitcoin has seen tremendous growth in terms of adoption not just by people but by companies, investors, and even entire countries.

A lot of businesses are realizing the power of this digital currency and the value it holds.

There is really no better time to start accepting bitcoin payments on your webstore. The market is flooded with a number of payment gateway companies offering varying benefits to people.

One key distinction between various payment processors is based on how decentralized they are, a characteristic that is inherent in the cryptocurrency ecosystem. Such processors usually have:

• No identity verification — KYC/AML
• Non-custodial payments (payments are never in custody of a third party) — P2P [Peer-2-Peer]
• Slightly technical setup
• No fiat support

Centralized payment processors on the other hand offer a less technical setup but payments are usually held by third-party companies making them slightly risky.

Here is the list of the top bitcoin payment processors:

1. GoURL: It is a 100% open-source cryptocurrency payment gateway offering a WordPress Plugin and an API. For custom-made websites, GoURL offers API for various programming languages including PHP, JSON, C++, Java, etc.
2. Blockonomics: For BTC payments, it offers plugin integration for WordPress, Prestashop, WHMCS, Wix, Squarespace, and a Payment API for custom implementation.
3. BTCPay Server: A self-hosted, open-source cryptocurrency payment processor that offers plugin integration for WordPress*,* Prestashop, Magento, Drupal, Custom Integration, and API.
4. MyCryptoCheckout: A crypto payment plugin designed for WordPress. It's a Peer-2-Peer gateway that allows merchants to receive payment directly to their wallets.
5. CoinRemitter: Crypto payment plugins for eCommerce merchants are available for WordPress, Magento 2, Opencart, PrestaShop, Laravel, PHP, and REST APIs.
6. CoinPayments: They offer support for hundreds of cryptocurrencies and plugins for a variety of webstores making it one of the most comprehensive payment gateways in the market.
7. Coingate: Coingate provides support for multiple eCommerce CMS, including WooCommerce, Prestashop, Magento, WHMCS, OpenCart, and more, plus 100+ altcoin support.
8. BitPay: They offer plugin support for almost every eCommerce CMS including, WordPress, Prestashop, Shopify, WHMCS, EDD, Magento, Drupal*.*
9. Coinbase: Offers support for WooCommerce and Shopify and charges no fee for crypto payments.

Various parameters such as centralized/decentralized, custodial/non-custodial, fiat conversion, altcoin support, pricing, plugins, all play a role in deciding the right payment gateway for your company.

Blockonomics, MyCryptoCheckout, BTCPay, GoURL are decentralized and do not require KYC.

BitPay and Coinbase are infamous for their centralized model and have come under a lot of criticism for it but they still remain the top 2 payment companies by size and number.

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Source: Blockonomics - Top Bitcoin Payment Processors — 2021