10% discount on all Coingate transaction fees
Coingate is a Lithuanian-based fintech company established in 2014. Their goal is making accepting cryptocurrencies easy for every merchant. Starting as a payment processor for solely Bitcoin transaction, the organization has expanded their services drastically. Not only by accepting more cryptocurrencies, but also by selling gift cards that can be bought with crypto and by providing an on- and off-ramp for crypto. This means that they facilitate the buying, selling and swapping of cryptocurrencies. These easy to use innovations make CoinGate a go-to payment processor for many. Read our full Coingate review below
Coingate Review scores
Ease of setup
Coingate charges a flat 1% fee for every transaction processed via their platform. This fee covers the processing costs of the payment and the network fees associated with the transaction. This is similar to that of most of its competitors.
Besides transaction fees, Coingate can also charge withdrawal fees. Withdrawals within Europe through the SEPA bank transfer is completely free. However, withdrawal through an international Bank (EUR) transfer does cost a fee of 1%. It’s USD counterpart costs 0.2%.
Coingate offers an online crypto payment gateway but also an offline gateway, which means that physical stores can also start accepting cryptocurrencies with their point of sale solution.
Just like its competitors, Coingate provides its merchant with the highly demanded volatility protection functionality. This means that incoming cryptocurrencies can be converted to stablecoins or fiat in order to lock their value. In this way, a merchant will always receive the requested payment amount regardless of the current crypto market conditions.
Coingate will allow merchants to accept a wide range of cryptocurrencies and tokens. In total, almost 70 cryptocurrencies are supported, including the 10 largest as shown below.
Ease of setup
To start you will have to create a Coingate account and get it verified, thereafter you can start implementing Coingate in your website or physical store. There are 4 methods of implementing Coingate: plugins, payment button and an API.
Coingate has multiple pre-build integrations, which makes implementing their system into your e-commerce website easy and fast. Integrations exist for:
- Magento 2
- And more
Payment button integration
Merchants can create their own bespoke Payment Button with Coingate, allowing them to accept payments in a range of digital currencies with the click of a button. They can keep track of orders and receive notifications via email whenever they are paid, making the payment process quick and efficient.
Finally, the API integration is the most customizable, but also the most complex integration. Developer knowledge is required, and therefore this integration is most suitable for bigger organizations that would prefer major customizability. You can find more information about the Coingate API on their website.
The coingate payment gateway uses a manual checkout, which is the safest method of crypto payments. Moreover, Coingate has proven to be a dependable service provider, with a flawless security record and a high degree of customer satisfaction.
How to create an account on Coingate
Step 3: After completing the previous step, Coingate will send you an email with a “Verify email” button. Click the button or follow the link provided below it to be taken to a new page where you can enter an authentication code. Once you’ve completed this step, you can proceed to step 4.
Sometimes however, you cannot access the authentication step yet and a page will open requiring you to resend the confirmation instructions. If so, fill in your email address and click resend. You will receive a new email from Coingate with a button ‘Confirm your email’. Click the button or copy the URL below the button and paste it in your browser. Continue to step 4.
Step 4: Once you’ve completed the previous steps, Coingate should direct you to a page where you can enter an authentication code. You should be able to find this code in your email inbox. After completing this step, you will have successfully created your Coingate personal account. However, to transform this into a business account, you’ll need to complete a few additional steps.
Step 5: To create a business account, you’ll need to provide your business name, country, and website address. Click “continue” to proceed, and on the following page, click “get verified.” At this point, you will be presented with two options. You can either begin the verification process immediately by providing business documents and a personal ID, or you can proceed to the dashboard and verify your account at a later time.
Step 6: After completing all the previous steps, you should have access to the Coingate dashboard. Before using your account, there are several important steps you should take:
Step 7: Integrate Coingate within you website with an API of one of the plugin integrations that can be found under the ‘merchant’ tab.