As such, for all BitPay’s convenience, like Coinbase Commerce it is a permissioned service. For one thing, as a US-registered company, BitPay won’t partner with companies based in countries that are subject to US sanctions, for instance, and is unavailable in countries that are hostile to cryptocurrency. In addition to bank deposit, merchants can elect to have the BTC or BCH payment converted to a stablecoin such as PAX, USDC or GUSD.īitPay’s flexibility, ease of integration and subscription billing option are among its many benefits, but the service has its drawbacks too. The service is available in 38 countries, with BitPay hedging the risk associated with cyptocurrency’s volatility, giving the merchant peace of mind that they will not lose out on the deal. Moreover, merchants are given the option of having payment settled in their local fiat currency directly into their bank account.
Bitpay vs coinbase software#
Bitpay invoices can be emailed to vendors and customers, while PoS software enables BitPay to be used in store to make crypto payments on smartphone or tablet.īitPay’s non-custodial wallet ensures merchants control their funds at all times. Payment buttons can be integrated into the merchant’s website. BitPay enables merchants to accept payment in BTC or BCH, for which it charges a flat 1% fee. Since its inception in 2011, the company has built up a reputation as a trusted and knowledgeable payment specialist that is a veritable giant of the cryptoconomy. Having processed over $1 billion in crypto payments in 2018, BitPay is the runaway market leader by some distance. Merchant accounts susceptible to suspension and closure by Coinbase BitPay Integrates with popular ecommerce modulesĪPI, webhooks and customized payment buttons Quick setup (~4 mins) and easy integrationĥ cryptos supported including USDC stablecoin
More than 2,000 merchants have already begun Coinbase Commerce, making it the second most popular non-custodial crypto payment solution on the market. In addition, Coinbase levies no fees over and above those charged by the crypto network in question. There’s a Coinbase Commerce plugin available for popular ecommerce solutions like Shopify and WooCommerce. Thereafter, merchants can accept payment in BTC, BCH, ETH, LTC, and USDC. Because funds are collected in a user-controlled wallet, Coinbase does not have access to the merchant’s funds.Ĭoinbase Commerce can be integrated into checkout, and getting started is simple, with just an email address and phone number required. It builds upon the trust and network effects of the Coinbase brand, leveraging these to deliver a product that allows merchants to accept five cryptocurrencies as payment. Launched in February 2018, Coinbase Commerce is a crypto payment solution provided by leading US cryptocurrency broker and exchange Coinbase. Join us as we consider the strengths and weaknesses of Coinbase and BitPay’s crypto payment solutions, before finishing with a look at the features that make 8Pay different. To demonstrate how 8Pay fits into the crypto payment ecosystem, and what differentiates it from the market leaders, we’ve undertaken a competitor comparison. There are several key differences between 8Pay and current merchant payment solutions. Designed for B2B, B2C and P2P, it enables one-shot and recurring payments to be created and settled quickly – all controlled in a permissionless manner via smart contracts.
8Pay is a crypto payment solution like no other.
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