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Bitpay review

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

Why should you trust our reviews? At, our assessments are grounded in a combination of extensive industry knowledge, primary data sources, and rigorous analysis. Here’s why you can rely on our evaluations:

  • Extensive Investigation & Expertise: Our team has invested over 130 hours in meticulously researching and evaluating over 20 cryptocurrency payment gateways. With a blend of expertise in webshops, financial services and crypto, we bring a comprehensive understanding of the industry to our reviews. This deep dive ensures that our assessments are thorough, insightful, and informed by practical experience.
  • Hands-On Testing: We believe in putting each cryptocurrency payment gateway through its paces. Our team doesn’t just rely on theoretical analysis – we create accounts, implement the gateways, and conduct transactions to evaluate their functionality, security, and user experience. This hands-on approach allows us to provide practical insights that go beyond surface-level observations.
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About Bitpay

Since its inception in 2011, Bitpay has been at the forefront of revolutionizing online payments by introducing cryptocurrencies as a viable option for businesses. Their mission has been crystal clear from the start: to transform how businesses and people send, receive, and store money around the world.


Bitpay’s platform boasts a secure gateway for crypto payments packed with many user-friendly features. Over the years, it has successfully processed transactions totaling more than 5 billion dollars, solidifying its position as the premier crypto processor worldwide.


Despite its great reputation, some may wonder: does Bitpay truly live up to the hype? To answer this question, we delve into a comprehensive Bitpay review below, examining its services and impact on the digital payment landscape.


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%.


The most obvious functionality of Bitpay is their online payment gateway. Which allows merchants to accept cryptocurrency payments within their webshop. Like many of the other crypto payment gateway providers, this functionality is enhanced by volatility protection. This means that exchange rates are locked in at the time of sale, ensuring that merchants receive the expected value without being affected by market fluctuations. At the end of each day, all sales are consolidated, and the corresponding value is deposited directly into the merchant’s bank account, eliminating the need for merchants to handle cryptocurrency themselves. However, for those who prefer it, there’s also the option to receive payouts in cryptocurrencies.


In addition to volatility protection, Bitpay offers merchants a range of convenient features, including:


  • Accepting offline (in-store) crypto payments, allowing merchants to seamlessly integrate crypto payments into their brick-and-mortar operations.
  • Sending crypto invoices, simplifying the process of billing customers in cryptocurrency.
  • Creating donation pages, making it easy for organizations to accept crypto donations from supporters.
  • Setting up recurring payments, enabling merchants to automate regular transactions with customers, enhancing convenience for both parties involved.


These features empower merchants to leverage cryptocurrencies for their business needs, whether it’s accepting payments, invoicing clients, collecting donations, or facilitating recurring transactions, all while enjoying the stability and flexibility offered by Bitpay’s platform.



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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
  • Zen Cart

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


Bitpay’s commitment to safety is evident in its straightforward checkout process, featuring a QR code for customers to scan. This manual checkout method is considered one of the safest ways to conduct cryptocurrency transactions. Established in 2011, Bitpay has since solidified its position as a trusted cryptocurrency payment processor by prioritizing security. The company implements robust measures to protect user funds and transactions, ensuring peace of mind for its customers. Furthermore, Bitpay’s adherence to relevant regulations and compliance requirements underscores its dedication to providing a safe and legitimate service within the cryptocurrency industry.

Frequently asked questions

Bitpay is a global payment service provider that enables businesses and individuals to send and receive payments in cryptocurrencies, such as Bitcoin. It offers a comprehensive suite of tools and services designed to facilitate secure and convenient cryptocurrency transactions. By leveraging Bitpay’s platform, users can tap into the benefits of cryptocurrencies while seamlessly integrating with traditional financial systems.

Yes, Bitpay is considered safe and legitimate within the cryptocurrency industry. With its establishment in 2011, Bitpay has built a strong reputation as one of the leading and most trusted cryptocurrency payment processors. The company places a high emphasis on security, implementing robust measures to safeguard user funds and transactions. Additionally, Bitpay adheres to relevant regulations and compliance requirements, further reinforcing its commitment to providing a safe and reliable service.

To use Bitpay, you can start by creating an account on their website or mobile app. The registration process typically involves providing your basic information and completing the necessary identity verification steps. Once your account is set up, you can generate payment invoices tailored to your specific needs. These invoices can be sent to customers or counterparties, who can then make payments using supported cryptocurrencies. Bitpay offers various integration options, making it easy to incorporate their payment solutions into your website, e-commerce platform, or point-of-sale system.

Bitpay acts as an intermediary between merchants or individuals accepting cryptocurrency payments and those making the payments. When a customer chooses to pay with a supported cryptocurrency, Bitpay processes the transaction by generating a unique payment address and QR code. Once the payment is made, Bitpay verifies and secures the transaction, protecting against potential risks such as double spending. The received cryptocurrency is then converted into the merchant’s preferred fiat currency, reducing volatility exposure. Finally, the equivalent fiat amount is settled with the merchant, ensuring a seamless and efficient payment experience.

Yes, Bitpay requires users to complete a Know Your Customer (KYC) verification process. This process involves providing identification documents such as a government-issued ID, proof of address, and other necessary information. By implementing KYC procedures, Bitpay ensures compliance with regulatory requirements and mitigates the risk of fraudulent activities.

No, Bitpay is not an anonymous platform. Due to regulatory obligations and the implementation of KYC procedures, user identities are verified when using Bitpay’s services. This verification process helps establish the legitimacy of users and prevents illicit activities, enhancing security and regulatory compliance. However, it’s important to note that while user identities are not anonymous, the transactions themselves can still be pseudonymous due to the nature of cryptocurrencies, which inherently offer a certain level of privacy.

No, Bitpay is not a decentralized platform. It operates as a centralized payment service provider, acting as an intermediary between merchants and consumers in cryptocurrency transactions. However, Bitpay does facilitate the use of decentralized cryptocurrencies, such as Bitcoin.

Bitpay was founded in 2011 by Tony Gallippi and Stephen Pair. Tony Gallippi served as the company’s executive chairman, while Stephen Pair took on the role of CEO. As of our knowledge cutoff in September 2021, the company is privately held, and the founders remain prominent figures associated with Bitpay

Bitpay primarily generates revenue through transaction fees. When merchants accept payments through Bitpay, they are charged a small percentage or fixed fee on each transaction. The specific fee structure may vary depending on factors such as transaction volume and currency. By monetizing its payment processing services, Bitpay sustains its operations and continues to innovate in the cryptocurrency payment industry.

Bitpay is headquartered in Atlanta, Georgia, United States.

Bitpay Wallet is a feature-rich cryptocurrency wallet developed by Bitpay. It enables users to securely store, manage, and spend their cryptocurrencies. The wallet offers a user-friendly interface and supports various cryptocurrencies, providing a convenient solution for individuals seeking to interact with digital assets. Bitpay Wallet incorporates essential features such as multi-signature support, allowing for enhanced security and control over funds. It also integrates with Bitpay’s payment processing services, streamlining the payment experience for both consumers and merchants.

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