BitPay

BitPay is a cryptocurrency payment service for merchants, paired with a separate wallet for personal use. It is best for businesses that want crypto payments across several sales channels and control over settlement, plus individuals who want a self-custody wallet. Its range is useful, but merchant fees rise to 2% plus 25¢ at the lowest volume tier, and US merchant accounts undergo verification.

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 merchants settle in fiat, cryptocurrency, or a mix. That flexibility suits businesses with different treasury preferences; the volume-based processing fees make it important to consider expected monthly transaction amounts.

Key features

Merchant payments

Merchants can accept payments online, in-store, and through email billing, with 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. The breadth of payment channels and currencies is a strength for businesses already serving crypto customers, but it is less compelling for merchants seeking a service centered on conventional card payments.

Integrations and plugins for Shopify, WooCommerce, Magento, BigCommerce, and other ecommerce platforms can connect BitPay to an existing store. Developers can use REST APIs and SDKs or official libraries for Java, Node, PHP, C#, and Python. That gives technical teams several routes to implementation rather than requiring a single storefront setup.

Wallet and security

The separate BitPay Wallet is a free self-custody app for buying, selling, swapping, and storing cryptocurrency, as well as buying gift cards and paying bills. Self-custody means users are responsible for controlling their cryptocurrency, a meaningful distinction from a managed account. 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. BitPay directs users to its Support Center and BitBot support interface.

Pricing

The BitPay Wallet costs nothing, with a free wallet app for mobile and desktop devices. Merchant processing has unlimited monthly transactions, but its fee is based on cumulative monthly volume: below $500,000 USD, 2% + 25¢; from $500,000 to $999,999 USD, 1.5% + 25¢; and at least $1,000,000 USD, 1% + 25¢. These tiers reward larger transaction volume, though the lowest tier is a significant cost to weigh against the value of accepting crypto.

The merchant volume plans have custom pricing, with thresholds of less than $500,000 USD, $500,000–$999,999 USD, and at least $1,000,000 USD in monthly transaction amount. The published processing rates clarify the volume-based fee schedule; businesses should assess the applicable tier against their expected monthly volume before choosing BitPay.

Platforms

BitPay supports Android, iOS, Linux, macOS, web, and Windows, as well as API integration. The wallet app is available for iOS, Android, Mac, Windows, and Linux, giving desktop users as well as mobile users a way to manage it.

Who it's for

BitPay fits merchants that want cryptocurrency acceptance across online, retail, or email billing, and that value choosing fiat, crypto, or mixed settlement. It is also suitable for developers who want REST APIs, SDKs, or established language libraries, and for individuals comfortable managing their own wallet security. Businesses outside the US can avoid the stated US merchant verification requirement, while US businesses should be prepared for verification and KYC and AML checks. The wallet's bill-payment feature is relevant only to US residents.

Pros and cons

• Pros: Merchants can accept payments across online, in-store, and email channels, with ecommerce, donation, and retail tools.
• Pros: Settlement can be in fiat, cryptocurrency, or a mix, with next-business-day bank settlement after conversion to local currency.
• Pros: Unlimited monthly transactions and daily payouts suit businesses that need a regular payout cadence.
• Pros: A free self-custody wallet includes crypto swaps, gift cards, and bill payment.
• Cons: Merchant processing fees start at 2% + 25¢ below $500,000 USD monthly volume, so the lower tier can be costly.
• Cons: US merchant accounts require business verification, and compliance includes KYC and AML checks.
• Cons: Bill Pay is limited to US residents, and self-custody leaves users responsible for their cryptocurrency.

Alternatives

For conventional payment processing, Helcim is worth considering: it has a free plan with no account monthly fees and interchange-plus transaction rates that vary by volume. For a personal card-control tool rather than merchant crypto processing, Privacy.com offers a free Personal plan with 12 new cards per month, merchant-locked and single-use cards, spend limits, and a 3% foreign transaction fee (minimum $0.50).

For teams seeking self-hosted, open-source billing software, Kill Bill offers a self-hosted deployment and control of infrastructure and data. Mollie is another paid payment option, with a Pay as you go plan at no cost and no contract or commitment. For invoice-focused billing, PayPal Invoicing lets users create and send invoices without setup or subscription fees, though transaction fees apply when customers pay.

Airwallex Payments offers an Explore plan at no cost/month for online card and local payment acceptance, with processing fees applying. Checkout Page has a free plan capped at $3,000 in sales per 30 days and one team member, while its Launch plan costs $29 a month. Checkout.com offers free payment processing for registered charities in countries where it operates, as well as tailored pricing based on business profile.

Compare broader options in Payment Processing Software and Crypto Payment Processors.

Verdict

Choose BitPay if your business needs broad cryptocurrency acceptance, flexible settlement, and a regular payout schedule, or if you want a free self-custody wallet for personal use. Its main advantage is the combination of merchant tools and settlement choice; its main drawback is volume-based processing cost, alongside verification requirements for US merchant accounts. Look elsewhere if those fees or compliance steps do not suit your business.