The Top Mobile Crypto Payment Apps for 2020

Crypto payment solutions have been widely regarded as one of the most important use cases for blockchain technology. That being said, not all of these apps and projects are created equal. From incomprehensible user interfaces to major difficulties converting crypto to fiat, there’s a lot of pain points both merchants and consumers have when using these products. 

Many crypto payment platforms come with global access, lower fees, and reduced chargebacks due to the nature of blockchain technology, but there is a myriad of other enhancements that are needed for those wanting to smoothly accept Bitcoin. Here are the top mobile crypto payment apps to watch. 

1. Coinbase Commerce

Made for retailers as a point of sale product, Coinbase Commerce has seamless integration with WooCommerce (WordPress’ eCommerce offshoot) and Shopify. With no fees and the ability to accept payments globally, this is one of the more popular crypto payment options on the market. As of now, Coinbase Commerce only accepts Bitcoin, Ethereum, DAI, Litecoin, Bitcoin Cash, and USD coin, and has no maximum withdrawals. 

With fast transactions, reduced chargebacks, and tight security, (so much so that some users complain that there are too many security steps) Coinbase Commerce is great for merchants who are comfortable navigating basic crypto basics.

One of the main drawbacks is the difficulty users have found in taking out their crypto once they’ve received it, and the lack of ability to convert crypto into fiat on the Coinbase Commerce platform. Retailers have to withdraw their crypto to an exchange and manually convert it. Overall, it may not be the easiest crypto payment platform for those who aren’t familiar with the digital currency, but it’s wide availability and seamless integration into eCommerce platforms makes it a solid choice.

2. MobiePay

MobiePay is the newest crypto payment app on this list and may have the best all-around offering for both merchants and consumers. Their universal payments and rewards ecosystem is intended to allow users to send and spend cash and digital currency anywhere from their phone. 

In addition to the ability to use crypto for everyday purchases – users will be positioned to get cash back while merchants will have access to a range of affiliate revenue features. Another distinctive aspect of the service is the choice to use fiat or crypto to pay, and then automatic settlement in cash – a huge plus for people who aren’t incredibly adept at converting their crypto to fiat on exchanges.

Their beta, targeted for launch early next year, has an impressive assortment of product offerings in the pipeline, including potential merchant partnership programs, payroll, in-app currency conversions, and rewards programs. Because they’re not partnering with a massive credit card provider, MobiePay also has the potential to help higher-risk industries, such as cannabis and e-sports, to gain access to payment processing and crypto payments.

3. BitPay

Bitpay is probably the most widely known crypto payment method thus far. They’ve partnered with some of the biggest brands in the world, like Microsoft and Twitch, and similarly to Coinbase Commerce, have a seamless Shopify integration. They recently announced a prepaid Mastercard to allow American members to use it wherever Mastercard is accepted. BitPay currently accepts Bitcoin, Bitcoin Cash, Ethereum, 4 USD-pegged stablecoins, and Ripple, all with a flat 1% fee.

Merchants can accept crypto on their website, by email (invoices have never been easier), or in-person using a smartphone or tablet. A huge pro is that BitPay will deposit funds directly into a bank account – which makes the entire experience much more preferable for crypto newbies.

4. Coingate

Coingate is a platform that allows users to accept, trade, and manage crypto all in one place. They accept over 50 digital currencies – a novel in the crypto payment world – all of which all run on the notorious Lightning Network. Refreshingly, the platform allows merchants to receive their payouts in fiat, crypto, or both, and only charge a flat 1% withdrawal fee. Coingate currently has over 170,000 registered users and has processed over a million merchant orders. 

Coingate’s security solutions are unique, with the majority of their assets held in cold storage, which means that users’ funds are not connected to the internet, thus heavily reducing scam risks. Integration tools, such as API, shopping cart plugins, payment buttons, and Web POS make Coingate another appealing solution for both e-commerce and brick and mortar merchants.

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