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Review: Bitpay

As the first crypto payment gateway, Bitpay allows merchants to accept over 15 cryptocurrencies safely.
Rating: 7.0

About Bitpay

Founded in 2011 Bitpay is one of the first companies that tried integrating cryptocurrencies as a payment for webshops with a clear goal: “to transform how businesses and people send, receive, and store money around the world”

Bitpay provides a safe crypto payment gateway with many functionalities, in which over 5 billion dollars has been processed so far. Bitpay is currently the world’s leading crypto processor, but is it actually that good? Read our full Bitpay review below.

Overall judgement

Bitpay Review scores


Transaction fees




Accepted cryptocurrencies


Ease of setup


Customer support




Transaction fees

BitPay has recently implemented a new tiered pricing structure for its crypto acceptance services, which increases the fees. Under the new pricing model, the transaction processing rate will range from 1-2% based on a customer’s cumulative monthly volume, plus a 25¢ fixed fee per transaction. Customers with a monthly transaction amount of less than $500,000 will be charged a 2% fee plus the fixed 25¢ fee. For those with a monthly transaction amount between $500,000 and $999,999, the fee will be 1.5%, and for customers with a monthly transaction amount of $1,000,000 or more, the fee will be 1%. Some high-risk industries may be subject to higher fees. It’s worth noting that these fees are higher than the competition that charge a flat 1% fee or in some cases even 0.5%.


Like many of the other crypto payment gateway providers, Bitpay offers volatility protection. All exchange rates are locked at the time of sale, and therefore the merchant will always receives the value that he expects. At the end of every day, all sales will be bundled, and the value will be deposited to your bank account. This way the merchant does not have to touch any crypto himself. However, there is an option to be paid out in cryptocurrencies.


Moreover, Bitpay provides their merchants with the option to:


  • Accept offline (in-store) crypto payments
  • Send crypto invoices
  • Create a donation page
  • Setting up recurring payments
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Accepted cryptocurrencies

In total, Bitpay supports 15+ cryptocurrencies. This is less than the major competitors that support 30+ currencies. Although the two most important cryptocurrencies are supported (Bitcoin and Ethereum), Bitpay seems to be missing 4 out of the top 10 cryptocurrencies, as shown below.

It is surprising that Bitpay has not integrated coins like Tether (USDT) as this is the largest stablecoin in existence and is extremely well suited for online payments. This seems like a missed opportunity. They have integrated some lesser known cryptocurrencies however like Apecoin, Bitcoin Cash and Shiba Inu.

Ease of setup

To start using Bitpay a merchant has to register for a merchant account as usual. However, before one can start accepting crypto, a lot of information and confirmation is required. For example, business registration documents and an photo identification should be provided to Bitpay. After this is settled, however, the integration process is quick and easy with their 12+ pre-built integrations, including:

  • Woocommerce
  • Shopify
  • Magento
  • Wix
  • Pretashop
  • Opencart

Similar to other crypto payment gateways, Bitpay has their own API for custom integrations


Bitpay has a simple checkout page with a QR code which the customer can scan. This is referred to a manual checkout, which belongs to the safest ways to pay with crypto

Crypto PSP's