Cryptocurrency has really taken off in recent years as a viable way to make transactions on a worldwide scale. The fact that it's available to anyone with an internet connection has given it a huge appeal. Retailers & online merchants have responded in kind & rapidly adapted to the changing landscape. On WooCommerce stores, you'll now find they’ve integrated payment gateways for cryptocurrencies, making life a whole lot easier for customers (and sellers alike). Bitcoin has become one of the most popular cryptocurrencies going, and in 2021, a whopping 15,174 companies worldwide started accepting Bitcoin as a form of payment. Furthermore, Reuters reports that about 25% of small organizations worldwide intend to take cryptocurrency payments by 2022.

You might have to adapt to the times as an owner of an online store. Like other websites that compete with you, you may accept payments in this way and even provide consumers who use cryptocurrency with extra benefits. Consequently, choosing the right crypto payment gateway for WooCommerce is essential for businesses that want to accept cryptocurrency payments.Additionally, you must know the top plugins available on WordPress.

Why Integrate a Crypto Payment Gateway with WooCommerce?

More than ten years have passed since people began shopping online using their credit cards or bank. Why are they using cryptocurrencies to make payments now? As early as 2014, businesses like Microsoft began to accept Bitcoin. Why is the same path being followed by everyone?

These are easy questions to answer. In the eCommerce industry, using cryptocurrencies has many advantages and a few disadvantages. However, credit card transactions have become extremely risky. Similarly, while there are still some good reasons to accept cash on delivery, there are plenty of downsides to that approach too. Here are the main advantages of setting up a payment gateway for cryptocurrencies in your WooCommerce store:

1. Cryptocurrency is now accepted by a whole bunch of leading global brands - that speaks to its trustworthiness & credibility as a payment method. 

2. It allows quick, hassle-free transactions with minimal government interference, and transfers happen within seconds.

3. Compared to credit cards or payment apps, crypto payments come with much lower (often negligible) transaction fees.

4. With blockchain technology at its core, these plugin ensures top-notch security and privacy, helping prevent fraud and chargebacks.

5. Plus, accepting cryptocurrency opens your WooCommerce store to a global audience, with no currency conversions or exchange rate issues.

Things to Consider While Choosing a WooCommerce Crypto Payment Gateway

When selecting a WooCommerce cryptocurrency payment plugin for your website, keep the following aspects in mind:
• Low Transaction Fees

Transaction costs can quickly reduce profit margins, just like with fiat payment providers. This is particularly true for Woo merchants that usually handle large volumes of low-value transactions. Competitive cost structures, usually ranging from 0.5% to 1% per transaction, should be provided by the gateway of your choice. Lower transaction fees ensure that you won't lose a substantial amount of every sale to processing expenses.

• Multiple Currencies Support

Since there are so many different cryptocurrencies, it makes sense that some users could like using stablecoins like USDC or other tokens like Ethereum or Bitcoin. Selecting a plugin that allows you to provide additional cryptocurrency payment alternatives can help you enhance the checkout process.

• Instant Payouts

Payments should be settled via the payment gateway of your choice in a matter of minutes, or ideally instantaneously. This fulfils two goals. It ensures that you may access your money nearly instantly once a transaction is finished and protects you from rate decreases if you deal with volatile currencies and need to swiftly convert your cryptocurrency to fiat.

• Automatic Currency Conversion

Values of cryptocurrencies might fluctuate. To decrease the risk of price changes, automatic currency conversion enables you to rapidly convert incoming cryptocurrency payments into fiat. Because they won't need to manually convert fiat or cryptocurrency rates before making the payment, clients will also find it more convenient.

• Smooth Payout Process

Allowing clients to pay with a relatively new kind of currency does not always mean that the checkout process should be entirely new. The cryptocurrency payment plugin you use should work well with the organic checkout process of your online store and offer a smooth user experience.

• Customer Support and Documentation

Selecting a payment gateway with thorough documentation and prompt customer service is important. By doing this, you'll be able to solve any issues promptly and keep them from seriously affecting the functioning of the store. 

Best Cryptocurrency Payment Gateways for WooCommerce

These are some of the top payment gateways available to you now that the advantages of integrating cryptocurrencies into your eCommerce business have been established. With the help of these plugins, you may significantly improve your store's performance and reach.

1. MaxelPay

The MaxelPay plugin makes accepting crypto payments effortless, secure, and instant. With support for 300+ cryptocurrencies across 6+ blockchain networks, including Polygon, Ethereum, USDT, USDC, and BNB, you can give your customers more ways to pay, all at a low transaction fee starting from just 0.5%.

The plugin offers 3D payment flexibility, allowing users to pay through QR code scanning, payout wallet connection, or direct wallet transfers, all in seconds.

Best Features of MaxelPay

1. Quick & seamless setup — install and start accepting crypto in minutes.

2. Supports 300+ tokens & 6+ networks, including major chains like Polygon, Ethereum, and BNB.

3. 3D Payment options — pay via QR code, payout wallet connect, or direct wallet.

4. Low transaction fees starting at 0.5%, with no hidden costs.

5. Real-time global payments like receiving and managing funds instantly.

6. Advanced security with encrypted transactions and fraud protection.

Developer-friendly APIs and sandbox mode for smooth testing and integration.

2. NowPayment

As the owner of an eCommerce store, you may accept multiple cryptocurrencies, including Bitcoin and Ethereum, with the help of the NOWPayments Plugin. However, when you have finished installing the plugin on your store, you will need a NOWPayments account in order to collect cryptocurrency payments. It effortlessly integrates with your existing payment gateway site and costs a transaction fee of 0.5%.

The NOWPayments Plugin's best features include

1.  Accepting multiple cryptocurrencies and converting them into ones you can trust.

2. Get paid right away to your bank account or wallet.

3. Get a personal account manager and round-the-clock assistance.

4. Save money on fees: the most affordable cryptocurrency market.

5. With our wide selection of tools, experience the freedom of choice.

3. Coinbase Commerce

Created by SCI Commerce and Intelligence, Coinbase is an easy-to-use WooCommerce payment gateway. The plugin may be downloaded and installed to allow you to take various cryptocurrencies from clients. Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are all included in your WooCommerce store. There are currently over 2000 active installs of it on WooCommerce stores worldwide.

Best Features of Commerce Coinbase for WooCommerce

1. Many payment processing features are available for free.

2. Allows you to withdraw the money you've received into your bank account.

3. For transactions, a Coinbase account is necessary.

4. Protects your money during business transactions with a cryptocurrency wallet.

5. Easy to use, and it takes cryptocurrency payments fast.

4. Blockonomics

This plugin functions as a decentralized mechanism for processing payments. When combined with your store theme, Blockonomics offers your customers a smooth checkout process. It's a free plugin that enables Bitcoin payments for online merchants like you. Additionally, it supports a number of well-known cryptocurrencies, including Bitcoin, Ethereum, Altcoins, and Litecoin.

Best Features of Blockonomics

1. Allows for quick transfers and transactions in seconds.

2. Simple to use and provides total transaction control

3. Removes the need for intermediaries

4. Installation and downloads are free.

5. You can increase your WooCommerce store sales, income, and profitability by implementing reasonable fees of 1% for each transaction.

6. Access to functions such as sending emails using Bitcoin, monitoring your wallet address, and generating P2P invoices.

5. CryptoPay

The CryptoPay WooCommerce plugin makes it super easy for people running online stores to accept cryptocurrency payments without breaking a sweat. With it, business owners get a rock-solid platform to receive, manage, and store crypto - and the best part is that it only costs 1% in processing fees. CryptoPay lets you accept a whole bunch of popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Stellar Lumens, Ripple, USDT, USDC, and BTH - giving your customers a bunch more ways to pay the way they want.

Best Features of CryptoPay

1. Easy-to-use plugin with quick installation

2. Register with CryptoPay for Business to start accepting crypto payments instantly

3. Manage your crypto with options to store, exchange, and withdraw funds seamlessly

4. Advanced security with two-factor authentication

5. Fingerprint and face recognition on mobile devices for added protection

6. No withdrawal limits, fees, or waiting periods, access your funds anytime

How to Integrate WooCommerce Payment Gateway on your Store?

The following comprehensive guide will let you integrate a payment gateway with WooCommerce:

1. Install the Plugin
Go to your WordPress dashboard → Plugins → Add New, and search for your preferred payment gateway like MaxelPay. Click Install and then Activate the plugin.

2. Configure the Settings
After activation, open WooCommerce → Settings → Payments. You’ll find your new gateway listed there. Click on it to set up details like your API keys, test or live mode, and accepted payment methods.

3. Test the Gateway
Before going live, use the sandbox or test mode to make sure everything works correctly and transactions are processed smoothly.

4. Go Live
Once you're all good, switch to Live Mode and start letting your customers pay you for real. Keep an eye on your first few transactions just to make sure everything is running as it should.

Conclusion

Although the idea of a cryptocurrency payment gateway is still pretty new, it's worth keeping an eye on - especially given how fast this stuff is evolving. Using crypto to make payments can actually help protect you from all sorts of nasty stuff like identity theft and data breaches. Accepting crypto on your WooCommerce business can also give you more consistent revenues because, well, it's not affected by inflation. With MaxelPay, you can give your customers a fast and secure payment experience and even support loads of different blockchain networks and tokens. Plus, the whole thing is super easy to install, so you can get crypto payments up and running on your store in no time, which means you can expand your payment options and reach a much bigger audience.