BitPay
BitPay is one of the world’s largest crypto payment gateways, founded in 2011 in the United States.
It enables businesses to accept cryptocurrency payments and receive settlements in fiat currency, eliminating exposure to crypto volatility.
The platform supports over 100 cryptocurrencies and operates in more than 200 countries and territories.
BitPay serves both online merchants and brick-and-mortar stores, offering invoicing tools, e-commerce plugins, and fast payouts.
| Characteristic | Details |
|---|---|
| Regions | 229 countries & territories |
| Getting started | Online registration (business account) |
| Commission per transaction | 2% + $0.25 (up to $500K/month); 1.5% + $0.25 ($500K–$999K); ~1% + $0.25 (≥$1M/month) |
| Payment methods accepted | Cryptocurrencies, converted to fiat |
| Fraud & Risk management | No chargebacks on crypto payments |
| Accepted Currencies | 100+ cryptocurrencies and stablecoins |
| Set up type | Plugin / API integration |
| Onboarding & Approvals time | Depends on region; some users report delays |
| Recurring Billing | Supported |
| Charges on Refunds | Network fee retained on refund |
| SDK Stacks | WooCommerce, Shopify, Magento, and others |
| Settlement time | Daily settlements |
| Payouts support | Fiat bank transfers or crypto payouts |
| Split payments | Supported |
| Regions229 countries & territories | |
| Getting startedOnline registration (business account) | |
| Commission per transaction2% + $0.25 (up to $500K/month); 1.5% + $0.25 ($500K–$999K); ~1% + $0.25 (≥$1M/month) | |
| Payment methods acceptedCryptocurrencies, converted to fiat | |
| Fraud & Risk managementNo chargebacks on crypto payments | |
| Accepted Currencies100+ cryptocurrencies and stablecoins | |
| Set up typePlugin / API integration | |
| Onboarding & Approvals timeDepends on region; some users report delays | |
| Recurring BillingSupported | |
| Charges on RefundsNetwork fee retained on refund | |
| SDK StacksWooCommerce, Shopify, Magento, and others | |
| Settlement timeDaily settlements | |
| Payouts supportFiat bank transfers or crypto payouts | |
| Split paymentsSupported |
Pros
- Easy integration with major e-commerce platforms.
- Converts crypto payments to fiat instantly, minimizing volatility risk.
- Global availability across 229 countries.
- Supports a wide range of cryptocurrencies and wallets.
Cons
- Higher fees (2% + $0.25) for smaller merchants.
- Mixed feedback on customer support and verification process.
- BitPay debit card not available in all regions.
- Some users find the payment interface confusing.
Benefits of Using BitPay Wallet for Crypto Payments
BitPay allows businesses to expand payment options and reach customers who prefer paying in cryptocurrency. Its automatic crypto-to-fiat conversion helps merchants avoid the risks associated with market volatility. The gateway is designed for scalability and works well for both startups and established enterprises.
For end users, BitPay ensures smooth transactions using familiar crypto wallets, while merchants can receive daily settlements directly in fiat currency. This balance between flexibility and reliability makes BitPay a practical solution for companies entering the crypto payment space.
How to Use BitPay: KYC, Setup, and First Crypto Payment
To start using BitPay, a business registers for an account and completes the KYC/AML verification process. Once approved, merchants can choose between plugin integration or API setup depending on their technical requirements. After installation, businesses can issue crypto invoices or accept payments directly through checkout pages.
Payments made in cryptocurrency are processed by BitPay and, if selected, automatically converted into fiat currency for payout. The dashboard provides real-time transaction tracking, recurring billing setup, and detailed reporting tools to simplify accounting.
BitPay Wallet Review: Usability, Fees, and Performance
Overall, BitPay is a mature and trusted crypto payment processor with more than a decade of experience. It offers a broad feature set, international reach, and reliable settlement infrastructure. While its transaction fees are slightly higher for smaller businesses, and the onboarding process can sometimes take longer than expected, BitPay remains one of the most established gateways in the crypto payments ecosystem. For merchants looking to securely accept crypto without managing crypto assets directly, BitPay is a strong and dependable option.
Is BitPay Wallet Safe for Crypto Storage and Payments?
BitPay has maintained a solid security record throughout its operation. The platform supports non-custodial wallets and multi-signature security options, meaning users control their private keys. There have been few reported incidents involving BitPay’s infrastructure itself, although in the past, some users reported delays in payouts or issues with account verification.
To enhance safety, BitPay uses two-factor authentication, encrypted payment data, and strict compliance with KYC and AML standards. The company also enforces transparent transaction monitoring and refund policies, where only network fees are deducted during a refund. With more than ten years of proven operation, BitPay’s overall reputation for safety remains high, but as with any financial platform, merchants should conduct their own due diligence.
BitPay Account Fees and Refund Policy
BitPay does not charge setup or annual fees. Transaction fees depend on monthly volume: 2% + $0.25 for up to $500K/month, 1.5% + $0.25 for $500K–$999K, and around 1% + $0.25 for volumes above $1M/month. Refunds incur only a network cost fee. This transparent structure allows businesses to easily calculate expenses based on their transaction size.
Which Type of Business Should Use BitPay Wallet for Crypto Payments
BitPay suits e-commerce companies, SaaS providers, NGOs accepting crypto donations, and physical retailers that want to expand payment options. It is especially beneficial for businesses processing large monthly volumes, as transaction fees decrease with scale. For companies that value reliability and predictable payouts, BitPay provides an efficient crypto-to-fiat conversion system.
BitPay for Physical Clients: Pay Your Bills or Pay with SOL in Stores
For in-store or physical businesses such as cafés, restaurants, or retail shops, BitPay offers point-of-sale tools that allow direct crypto payments via tablets or smartphones. Merchants can issue invoices via email or QR code, and funds are settled in fiat currency. This makes it easy to adopt crypto payments without needing specialized hardware. However, smaller merchants with low transaction volumes might consider alternatives with lower commission rates.
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FAQ
Do businesses need to hold cryptocurrency when using BitPay?
No. BitPay automatically converts crypto payments into fiat currency, allowing merchants to receive direct bank transfers. This feature helps businesses avoid crypto price fluctuations and simplifies accounting. Merchants can also choose to keep a portion of revenue in crypto if they wish to diversify holdings.
Can BitPay integrate with e-commerce platforms?
Yes. BitPay provides plugins and SDKs for Shopify, WooCommerce, and other major platforms. The integration process is straightforward, and businesses can be ready to accept crypto payments within a few hours after approval. API access also allows for custom checkout solutions and automated billing systems.
What fees apply when using BitPay?
BitPay charges a flat fee per transaction based on the monthly processing volume. The rate starts at 2% + $0.25 and decreases as volume increases. There are no setup or monthly fees, and only a small network fee applies to refunds. This makes pricing predictable for most merchants.
How does BitPay ensure payment security?
BitPay uses advanced security protocols, including two-factor authentication, encrypted communications, and compliance with KYC/AML regulations. All wallets connected to BitPay are non-custodial, giving users full control of their keys. The company also regularly audits its systems to prevent fraud and unauthorized access.
Does BitPay support refunds, and are there any hidden costs?
BitPay supports refunds on eligible transactions. When a refund is processed, only the network transaction fee is deducted. There are no hidden charges or penalties. Refunds are issued in the same currency as the original payment, ensuring transparency for both merchants and customers.
