BitPay

BitPay provides businesses with tools to accept cryptocurrency payments and send cryptocurrency payouts. Merchants can take payments online, in stores, or through email billing, using tools for ecommerce, donations, and retail. Listed integrations include Shopify, WooCommerce, Magento, BigCommerce, and other ecommerce platforms. Developers can connect through REST APIs and SDKs or official libraries for Java, Node, PHP, C#, and Python. BitPay converts customer cryptocurrency payments to local currency and initiates bank settlement the next business day; merchants can instead settle in fiat, cryptocurrency, or a mix of both. Merchant processing fees depend on monthly volume: 2% + 25¢* below $500,000 USD, 1.5% + 25¢* from $500,000 to $999,999 USD, and 1% + 25¢* at $1,000,000 USD or more. BitPay also offers a free self-custody wallet for mobile and desktop. It supports buying, selling, swapping, and storing cryptocurrency, buying gift cards, and paying bills. The wallet user is responsible for controlling their cryptocurrency. BitPay was founded in 2011 and is headquartered in Atlanta, Georgia, United States. Bill Pay is currently available only to US residents.

BitPay combines merchant payment and payout tools with a separate self-custody wallet. Businesses should review the volume-based processing fees, while wallet users should account for their custody responsibility.

BitPay may suit businesses seeking cryptocurrency payment acceptance and payouts across online, retail, and email billing channels. Its wallet may suit users who want self-custody and the listed crypto and bill-payment functions.

BitPay is a cryptocurrency payment and payout service for merchants, alongside a separate wallet for personal use. It is a strong fit for businesses that want to accept crypto across multiple sales channels, and for people who want to manage their own crypto in a self-custody wallet.

Overview

Founded in 2011, BitPay lets businesses accept cryptocurrency and send crypto payouts. It can convert customer payments to local currency and initiate bank settlement the next business day, or let the business settle in fiat, cryptocurrency, or a mix. That choice suits merchants with different treasury needs, but processing costs rise or fall with monthly transaction volume.

Key features

Merchant payments

Merchants can accept payments online, in-store, or through email billing, using tools for ecommerce, donations, and retail. Payment links and recurring billing add useful collection options, and the payout schedule is daily. BitPay supports Bitcoin, Bitcoin Cash, Litecoin, Dogecoin, XRP, Polygon, Ethereum, Base, Optimism, Arbitrum, Solana, and supported stablecoins. The breadth of payment methods and channels makes it relevant to businesses with varied customer preferences; it is less compelling for merchants whose customers primarily pay by conventional methods.

Plugins and integrations for Shopify, WooCommerce, Magento, BigCommerce, and other ecommerce platforms can fit into an existing store. Developers can integrate with REST APIs and SDKs or use official Java, Node, PHP, C#, and Python libraries. This gives technical teams options beyond a prebuilt storefront connection, though it also means the strongest fit is for businesses prepared to configure a payment integration.

Wallet and security

The free BitPay Wallet supports buying, selling, swapping, and storing cryptocurrency, as well as buying gift cards and paying bills. It is self-custody, so users—not BitPay—are responsible for controlling their cryptocurrency. That ownership may suit people who want direct custody, but it puts responsibility for safeguarding funds on the user. Bill Pay is currently available only to US residents.

BitPay's Trust Center lists SOC 3, SOC 1 Type 2, SOC 2 Type 2, NY DFS cybersecurity requirements, and DORA information. US merchant accounts are subject to business verification, and the compliance process includes KYC and AML checks. Support is available through the Support Center and BitBot.

Pricing

The BitPay Wallet costs free for the mobile and desktop app. Merchant processing has unlimited monthly transactions, with a fee based on cumulative monthly transaction volume: 2% + 25¢ below $500,000 USD, 1.5% + 25¢ from $500,000 to $999,999 USD, and 1% + 25¢ at $1,000,000 USD or more. The volume tiers reward larger transaction totals with a lower percentage, but even the top tier retains a per-transaction charge. Businesses should compare the applicable rate with their transaction volume before choosing BitPay.

The under-$500,000 tier fits lower-volume merchants willing to pay the highest percentage rate; the middle tier applies from $500,000 to $999,999 USD, while the lowest percentage rate applies at $1,000,000 USD or more. These are volume-based processing tiers rather than separate feature plans, and all include unlimited monthly transactions. Businesses seeking a tailored arrangement can consider the volume categories, but should not assume a different feature set.

Platforms

BitPay supports Android, iOS, Mac, Windows, and Linux for its wallet, with web and API options for merchant use. The range accommodates both desktop wallet users and businesses integrating payments into online or in-person operations.

Who it's for

BitPay is best for merchants that want to accept cryptocurrency through ecommerce, retail, or email billing and choose whether proceeds settle in fiat, crypto, or both. It is also suitable for individuals comfortable with self-custody who want wallet functions beyond storing and transferring crypto. Merchants who do not need crypto acceptance, and wallet users who prefer not to carry custody responsibility, should look elsewhere.

Pros and cons

• Flexible settlement: Merchants can receive fiat, cryptocurrency, or a mix, with local-currency conversion and next-business-day bank settlement.
• Broad collection options: Online, in-store, email billing, payment links, and recurring billing cover several merchant workflows.
• Volume-based fees: The percentage falls from 2% + 25¢ to 1% + 25¢ as monthly volume rises, but the fee remains tied to transaction volume and includes a per-transaction charge.
• Self-custody wallet: Users retain responsibility for controlling their crypto, which may be a drawback for anyone seeking a wallet without that obligation.
• US-only Bill Pay: The wallet's bill-payment feature is limited to US residents.

Alternatives

For a broader comparison of payment services, see Payment Processing Software or Crypto Payment Processors.

Checkout Page may suit businesses that want a freemium option with a stated free-plan sales cap of $3,000 per 30 days and one team member. Mollie is worth considering for pay-as-you-go processing, with no contract or commitment and stated rates for consumer cards. PayPal Invoicing fits businesses that want to create and send invoices without setup or subscription fees, while accepting transaction fees when customers pay. Privacy.com is an alternative for personal card controls, with its free Personal plan including 12 new cards per month. Airwallex Payments offers online card and local payment acceptance on a free Explore plan, with processing fees applying. Helcim may be a better fit for merchants seeking payment processing with no account monthly fees and interchange-plus rates that vary by volume. Kakao Pay is another consumer payments and finance service. Checkout.com may suit registered charities eligible for free processing in countries where it operates, or businesses seeking tailored pricing.

Verdict

Choose BitPay if your business wants broad cryptocurrency acceptance, multiple payment channels, and control over settlement currency; its free self-custody wallet also serves individuals who are comfortable managing their own crypto. Look elsewhere if volume-based merchant fees do not suit your economics, or if you want a wallet that does not make you responsible for custody.