BitPay

BitPay combines cryptocurrency payment processing for businesses with a self-custody wallet for individuals. It is best for merchants that want to accept crypto through several channels and choose how proceeds are settled. Its broad payment options are useful, but merchants should weigh volume-based fees and wallet users must manage their own custody.

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 a business settle in fiat, cryptocurrency, or a mix. That flexibility suits companies with different treasury preferences; the transaction fee still varies with monthly 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 collection options, and payouts are daily. Supported methods include Bitcoin, Bitcoin Cash, Litecoin, Dogecoin, XRP, Polygon, Ethereum, Base, Optimism, Arbitrum, Solana, and supported stablecoins. This range makes BitPay relevant to businesses whose customers use different crypto assets, rather than merchants seeking conventional card processing alone.

Plugins and integrations for Shopify, WooCommerce, Magento, BigCommerce, and other ecommerce platforms can connect payments with an existing store. Developers can build through REST APIs and SDKs or use official Java, Node, PHP, C#, and Python libraries. Those options suit both storefront operators and teams wanting a more tailored integration, though the API route requires development work.

Wallet and security

The separate BitPay Wallet supports buying, selling, swapping, and storing cryptocurrency, as well as buying gift cards and paying bills. It is self-custody: users control their cryptocurrency, which gives them direct responsibility rather than handing custody to the wallet provider. Bill Pay is available only to US residents, limiting that feature for the rest of BitPay's global audience.

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 directed through the Support Center and BitBot interface.

Pricing

The BitPay Wallet costs free and is the straightforward choice for individuals who want its mobile or desktop wallet features. BitPay merchant processing has no published plan price; its fee is based on cumulative monthly transaction volume, with unlimited monthly transactions:

• Under $500,000 USD monthly volume: 2% + 25¢ per transaction.
• $500,000–$999,999 USD monthly volume: 1.5% + 25¢ per transaction.
• At least $1,000,000 USD monthly volume: 1% + 25¢ per transaction.

The lower-volume tier carries the highest percentage fee, while the percentage falls as volume rises; each tier still includes the 25¢ component. Businesses should compare the applicable rate against their expected monthly volume before choosing BitPay. The merchant tiers are based on transaction amount, not separate feature packages, so the published distinction is the fee rate rather than a different toolset.

Platforms

BitPay lists Android, iOS, web, and API support, as well as Linux, macOS, and Windows. The wallet app is available for iOS, Android, Mac, Windows, and Linux, giving desktop users an option alongside mobile access.

Who it's for

BitPay is a strong fit for merchants that want crypto payments across online, retail, and email billing, need ecommerce integrations or developer tools, and value settlement in fiat, crypto, or both. The free wallet also suits individuals comfortable taking responsibility for custody. It is a weaker fit for businesses seeking a published flat merchant price, for users who need Bill Pay outside the United States, or for anyone who does not want self-custody.

Pros and cons

• Pros: Merchants can choose among multiple payment channels and settlement currencies, including next-business-day bank settlement after conversion to local currency.
• Pros: Ecommerce plugins, APIs, and language-specific libraries offer several routes to connect BitPay to a business's existing setup.
• Pros: The wallet is free and supports buying, selling, swapping, storage, gift cards, and bill payments.
• Cons: Processing fees vary by monthly volume and include a 25¢ charge per transaction, so the cost structure may not suit merchants who want a single flat rate.
• Cons: Bill Pay is restricted to US residents, and self-custody puts control and responsibility for cryptocurrency with the user.

Alternatives

Payment Processing Software and Crypto Payment Processors are useful starting points for comparing providers across those categories.

Choose Helcim instead if you want payment processing with no account monthly fees and interchange-plus transaction rates that vary by volume. Airwallex Payments is an alternative for online card and local payment acceptance, with a free Explore plan and processing fees that apply. Checkout Page may suit a smaller sales operation: its Free plan caps sales at $3,000 per 30 days and one team member, while Launch costs $29 a month.

Kill Bill is worth considering if a self-hosted, open-source core and control of infrastructure and data are priorities. Mollie offers pay-as-you-go pricing in euros, with no contract or commitment and stated rates for consumer cards. For invoice-focused businesses, PayPal Invoicing lets users create and send invoices without setup or subscription fees, with transaction fees when customers pay. Privacy.com is a different option for managing merchant-locked and single-use cards, with its Personal plan including 12 new cards per month. CashNotify may be more relevant for monitoring one Stripe or PayPal account on its free plan.

Verdict

Choose BitPay if your business needs several cryptocurrency payment channels, flexible settlement, or ecommerce integrations, or if you want a free self-custody wallet across mobile and desktop. Its main advantage is the combination of merchant payment options and settlement choice; look elsewhere if volume-based fees do not fit your costs, you need Bill Pay outside the United States, or you would rather not manage wallet custody yourself.