About Coingate
Coingate is a Lithuania-based cryptocurrency payment gateway founded in 2014. The platform enables businesses and merchants—especially those in Europe—to accept a wide range of cryptocurrencies as payment for goods and services. Coingate acts as an intermediary, allowing merchants to receive settlements in Euros (EUR) or other fiat currencies, minimizing exposure to cryptocurrency price volatility.
The platform offers integrations with major e-commerce systems such as WooCommerce, Magento, and PrestaShop, alongside a well-documented API for custom solutions. For brick-and-mortar businesses, Coingate provides point-of-sale (POS) tools that simplify crypto acceptance in physical locations. Merchants and customers also have access to built-in wallet services for managing digital assets.
As an EU-regulated provider headquartered in Lithuania, Coingate aligns with European banking and anti-money laundering (AML) regulations, bolstering trust for businesses operating within the Eurozone. With a competitive fee structure—typically around 1% per transaction—Coingate is positioned as a cost-effective crypto payments solution for SMEs and larger merchants seeking EUR settlements.
The platform supports a broad selection of cryptocurrencies—including Bitcoin, Ethereum, Litecoin, and Ripple—which can be easily enabled via plugins or direct integration. While Coingate is open to merchants worldwide, its features and compliance are particularly tailored to the needs of European businesses seeking reliable, regulated crypto payment acceptance.
Pro's of using Coingate
- Easy Integration: Offers dedicated plugins for major e-commerce platforms and simple API setup for businesses of all sizes.
- EUR Fiat Settlements: Merchants can settle payments directly in Euros, reducing exposure to cryptocurrency volatility.
- Regulatory Compliance: Based in Lithuania, Coingate operates under EU regulatory frameworks, increasing reliability for European users.
- Broad Crypto Support: Accepts numerous popular cryptocurrencies, catering to a diverse customer base.
- Low Transaction Fees: Competitive pricing (around 1% per transaction) makes it accessible for merchants seeking affordable crypto payment solutions.
Con's of using Coingate
- Regulatory Uncertainty: Ongoing changes in EU and global crypto regulation may affect service terms or available currencies.
- Limited Non-EUR Fiat Options: Focus is on EUR payouts; other fiat currencies may have restricted options or less favorable terms.
- Lengthy Verification Process: Onboarding with full KYC and AML checks can delay activation for new merchant accounts.
- No Financial Services: Lacks offerings like crypto lending or staking, which some competitors provide.
- Customer Support Delays: Complex issues, especially those involving compliance or transactions, may experience slower resolution times.
What are alternatives for Coingate
- BitPay: US-based processor supporting EUR settlements; strong merchant tools but subject to regulatory overlap.
- Coinbase Commerce: EU-friendly, trusted brand, direct crypto-to-fiat payouts including EUR; fees can be higher.
- NOWPayments: Wide crypto support and EUR payouts; less established in terms of European regulatory compliance.
- Crypto.com Pay: Integrated with broader Crypto.com ecosystem, supports Euro payouts and multiple coins; may be more app-focused.
- GoCoin: Supports various cryptocurrencies with EUR settlements; slightly less market presence in Europe.
- Strike: Focuses on Bitcoin’s Lightning Network for fast EUR payments; limited to BTC and requires merchant adoption.