Develop A Crypto Payment Gateway Like Bitpay In 2024

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“BitPay is revolutionizing the way we think about transactions and currency.”

– Bill Gates.

Quick Summary: Are you looking to develop a crypto payment gateway like BitPay? If yes, then you have reached the appropriate place. Read this blog to get an in-depth analysis of development steps, features, costs and other aspects that can help to create a crypto payment gateway app for your business.

Are you looking to develop a crypto payment gateway like BitPay? Cryptocurrencies have become a disruptive force in the swiftly evolving landscape of digital commerce by providing a safe and transparent alternative for conventional payment systems. One of the industry pioneers, BitPay, has made it possible for businesses to easily accept payments in bitcoin.

Statista says that cryptocurrency payments will grow at an amazing 17% CAGR from 2022 to 2029, when the market value will hit $4.12 billion. This depicts that the demand for cryto payment app development will be two-fold in the coming years.

However, building a cryptocurrency payment gateway can be a demanding but incredibly rewarding task for startups who need greater control or personalization.

So, if you are someone who wants to develop a crypto payment gateway like BitPay, then you should read this blog till the end. It will cover everything from steps, features, costs, and other aspects which can help you in creating a robust payment gateway.

So, let’s begin.

Table of Contents

What is BitPay?

BitPay is a mobile application that enables users to manage their cryptocurrency transactions conveniently. It operates as a e-wallet for keeping different cryptocurrencies. The app allows users to trade, purchase, and sell bitcoins immediately, making transactions easier.

In addition, BitPay provides customers with a Visa debit card that is connected to their bitcoin holdings, enabling them to spend their virtual assets at any international shop that takes Visa. So, if you are fascinated by BitPay apps, then you should invest in crypto payment gateway development by availing mobile app development services.

Market Stats of Crypto Payment Market

Even though the market is still pretty small, cryptocurrency sales are expected to grow at a CAGR of almost 17% from 2022 to 2029. The prediction comes from a market projection made in early 2023, which was based on a number of factors and sources that were available at that time.
In May 2023, more than one in four BitPay payments were made in the prepaid/gift card industry, making it the industry with the most payments.
At the end of 2022, only Coinbase ewallet app development, MetaMask, and Trust had more than two million downloads between them in the United States.
It is possible to make purchases with Bitpay 99.98% of the time.
Bitpay supports 16 cryptocurrencies, which is about 70% of the whole crypto market.
There are almost 6,000 companies on this list that are based in the United States. Only three other countries have more than 1,000 companies on this list.
Statista says that cryptocurrency payments will grow at an amazing 17% CAGR from 2022 to 2029, when the market value will hit $4.12 billion.

Now that you are aware of the market condition and size of crypto payment gateway. It has made it possible for businesses to invest in it. As you know the transactions work on a peer-to-peer network on Bitpay app, it is better to invest in P2P Payment app development. Let’s now check out the development steps to develop a crypto payment gateway like BitPay.

Steps to Develop a Crypto Payment Gateway Like Bitpay

Are you curious to know how to develop a crypto payment gateway like Bitpay? Well, it requires a thorough knowledge of the crypto payment gateway development procedure, which may help the app function successfully. So, whether you’re creating a gateway like BitPay or not, knowing the process is a useful tool. Let’s have a look at the step-by-step process which is suggested by ewallet app development services.

1. Do Market Research and Analysis

Do extensive market study to ascertain a level of interest in crypto payment competitors before moving forward. Examine apps like Coinbase to determine their advantages, disadvantages, and points of difference. Also, choose your target market by taking into account variables like user demographics, geographic areas, and industry verticals.

2. Define Your Value Proposition

Make it clear what makes your crypto payment method different from other options. Make a strong value offer that businesses and customers will want, like lower fees, faster transfers, or better security features. Getting people to use your platform will depend on how well you show off its unique selling points.

3. Technology Stack Selection

To build your crypto payment app, pick the right technology mix. Think about things like how well it works with different blockchain networks, IDO, ICO launchpads, how well it can grow, and how safe it is. You can use blockchain technology to build a custom solution or choose a blockchain platform like Ethereum, depending on your needs. For better results, it is better to take assistance from a cryptocurrency development company.

4. Design Intuitive UI/UX

Make sure that your crypto payment method has an easy-to-use interface so that both businesses and buyers have a smooth experience. To meet the needs of all users, offer features like tracking transactions in real time, tools for sending invoices, and flexible payment choices. Make the design to work better on phones and computers so that the platform can serve the rising number of people who reach it that way.

5. Developer API and Documentation

The next step is to develop a crypto payment gateway like BitPay after you’ve made the user interface. The work makes APIs and documents so that sellers and developers can easily integrate them.

This will make it easy for businesses to add your payment method to their websites or apps. A fintech app development company needs clear and straightforward instructions in order to understand and add the features that their platforms need.

6. Testing and Quality Assurance

To find and fix possible bugs, security holes, and speed problems, you should make thorough testing a top priority. To make sure that your payment method is stable and reliable, you should do unit testing, integration testing, and security checks. Users and sellers will trust a strict quality assurance method, which will lead to broad usage.

7. Launch and Marketing

Launch your crypto payment gateway once testing is done and the app is ready. Make a promotion plan to get people to know about it and bring in users and businesses. Use relationships, content marketing, and social media to reach people in the bitcoin community.

To get people to adopt quickly, offer rewards like special rates or deals. To stay competitive in the crypto world, you should regularly update and improve your platform based on what users say.

Unique Features to Develop a Crypto Payment Gateway Like Bitpay

When you develop a crypto payment gateway like BitPay, features are the essential thing that comes to mind. It makes your ewallet crypto payment app like BitPay more successful and profit-oriented. So, we have listed down the crucial features that must be integrated in your crypto ewallet app development.

User Registration
Conversion to Fiat Currency
User Authentication & Security
Real-time Transaction Monitoring
Secure Wallet Integration
API Integration
Payment Gateway Integration
Dashboard
Merchant Tools
Multi-cryptocurrency Support
Ticket Generation

● User Registration

The user registration feature allows users to make an account by inserting their personal data like number, name, email ID. It provides security and ease of access for users to manage their transactions and digital assets.

● Conversion to Fiat Currency

The ability to convert crypto into fiat cash gives sellers options. It accommodates users who prefer conventional currencies which makes crypto payments feature easier to integrate into mobile banking app development.

● User Authentication & Security

You should hire dedicated developers to integrate data encryption, KYC verification, and two-factor authentication to strengthen the payment gateway’s defenses against illegal access and safeguard user accounts from online fraud.

● Real-time Transaction Monitoring

Users and merchants may easily track transactions using real-time monitoring. By allowing consumers to monitor the progress of their payments and permitting prompt resolution of any difficulties that may emerge, this openness fosters confidence.

● Secure Wallet Integration

Crypto payment gateway like BitPay’s security is its essential feature which enables users to store and manage their bitcoins safely. With the help of a mobile app development services provider, integrating secure banking wallet features to help users’ digital assets with robust encryption and safe storage procedures.

● API Integration

With this feature, businesses can connect their crypto payment gateways with other platforms. Because of this functionality, businesses may incorporate it more easily, increasing the payment method’s overall usability and accessibility.

● Payment Gateway Integration

With payment gateway integration feature, users can easily choose any mode of payment for crypto transactions. It enables users to securely accept various cryptocurrencies which ensure seamless transactions for users and merchants alike.

● Dashboard

The main hub for users is a thorough dashboard that provides an overview of account activities, transaction statuses, and related data at a glance. Transparency and consumer control over their financial data are increased via intuitive data visualization, comprehensive transaction logs, search capabilities, and classification.

● Merchant Tools

Businesses may handle transactions more effectively by using the infrastructure that merchant tools offer. This includes tools for monitoring payments, examining sales information, personalizing payment choices, and giving retailers the ability to streamline their payment procedures.

● Multi-cryptocurrency Support

When you develop a crypto payment gateway like BitPay, integrate multi-currency support features to facilitate cryptocurrency transactions that give users freedom to their preferences. It attracts a wider audience interested in diverse digital assets and increases the payment gateway’s usefulness.

● Ticket Generation

Effective ticket creation systems enable consumers to ask for help or report problems right away. Creating tickets and monitoring their progress in real time with user-friendly interfaces contributes to improved customer satisfaction and increased confidence in the customer support ecosystem.

So, now you know the features of crypto payment gateway, it is the right time to consult with a blockchain development company like Dev Technosys to integrate such features in the app. They will help to develop a crypto payment gateway such as BitPay.

Best Crypto Payment Gateways Like Bitpay

Bitpay has over 3 million active users and 1 million downloads on Play Store. Well, if you are fascinated by this app’s success, then you should invest in crypto and mobile banking app development. However, it is essential to know the competitors and their USP. So, here are some popular crypto payment gateways for your reference.

Coinbase
Paypal
Paxful
Binance
Trust

Popular Crypto Payment Gateways	Available Platform	Downloads	Ratings
Coinbase	Android \| iOS	10M	4.2
Paypal	Android \| iOS	100M	4.2
Paxful	Android \| iOS	1M	3.2
Binance	Android \| iOS	100M	4.1
Trust	Android \| iOS	10M	4.5

1. Coinbase

A crypto payment gateway app like Coinbase has over 9 million monthly active users. It enables users to buy, sell, transfer or store cryptocurrency on this wallet and exchange IDO tokens. Also, users can safely use this wallet as it utilizes security measures to protect them from losing their funds or credentials to hackers.

2. Paypal

Paypal is yet another widely used payment gateway which has more than 435 million active users. Businesses can accept debit and credit cards, PayPal, authorizations, grabs, and credit declines through the Payflow Gateway APIs. So, if you want to build a payment gateway for your business, then you should invest in Paypal app development.

3. Paxful

Users may purchase or sell digital currencies with other individuals on Paxful. Users can trade cryptocurrencies and earn money in a safe, secure environment, in accordance with their commitment to financial equality. They also support ICO development, promoting financial equality in crypto markets.

4. Binance

The Binance app development enables users to exchange cryptocurrency. Users should finish the KYC requirements before starting trading. Being such a popular crypto payment gateway, Binance has a 150 millions user base globally.

5. Trust

Trust Wallet is a crypto payment gateway that gives users full control over digital assets like cryptocurrencies and ICO tokens that can’t be exchanged for cash. Its main cryptocurrency tool is Trust tool, which works with 65 blockchains and gives you access to more than 4.5 million crypto assets.

Cost to Develop a Crypto Payment Gateway Like Bitpay

The cost to develop a crypto payment gateway like Bitpay can range between $8,000-$17,000 or more depending on how complex your project is. It also depends on the factors like features & functionality, app design, size of development team, platform type and so on.

Additionally, if you want to know the cryptocurrency exchange development cost on the basis of complexity, then you should checkout the below table:

Complexity Level	Cost Estimations
Simple Crypto Payment Gateway	$8000-$14000
Medium Crypto Payment Gateway	$15000-$20000
Complex Crypto Payment Gateway	$25000

Therefore, before you can develop a crypto payment gateway like Bitpay, you must first create a precise blueprint outlining all of the necessary requirements of your project. You may get an accurate estimate of the crypto payment gateway method cost once you have a good plan. For that, you should consult with an ewallet app development company who may provide an accurate cost as per your budget.

How Much Does It Cost To Maintain an App Like Bitpay?

Now that you have developed a crypto payment gateway like Bitpay, it is crucial to timely maintain and update your app for better performance. The maintenance cost of a mobile app can be around 15-20% of the total development cost. For example, if your app like Bitpay is $10000, then the maintenance cost will be somewhere around $2260-$3000 annually.

However, there are some factors that affect the mobile app maintenance cost. So, let’s have a look at them:

Hosting
App complexity
Security
Analytics
Payment garment integration
Bug fixing & updates
Third-party integration
Customer support

Therefore, it is advisable to avail mobile app maintenance and support services for a regular update and maintain your crypto payment gateway like Bitpay. In order to continuously improve, maintenance responds to user comments and improves functionality.

Ready to Build Your Crypto Payment Gateway With Dev Technosys!

After you have a clear understanding of how to develop a crypto payment gateway like BitPay, you can proceed with the aforementioned stages to make your idea a reality.

Dev Technosys is a top fintech app development company that helps businesses around the world grow and speed up digital innovation. We have consistently been able to satisfy the expectations of our customers by offering future on-demand app development solutions for a very long time.

We guarantee seamless development as well as achievement for your crypto payment options. Our developers know the latest crypto payment platform technology and standards.

Working with us will make it simple and trouble-free to create a BitPay crypto payment gateway. You’ll eventually reach a point when your company has an advantage over its competition. So, if you want to develop a secure crypto payment app like BitPay, or wants to invest in IDO development for your crypto project, get in touch with our team for a detailed conversation now.

Frequently Asked Questions

1. How Long Does It Take To Build a Crypto Payment Gateway Like Bitpay?

The time to develop a crypto payment gateway like Bitpay may vary depending on the crucial factors and project complexity. A simple crypto payment can take 2-3 months while a complex app may raise the time up to 5-8 months.

2. What Are the Benefits of Creating a Crypto Payment Gateway?

The benefits of creating a crypto payment gateway provides businesses global reach, lower transaction fees, faster transactions, increased security through blockchain technology. It enables access to a growing market of cryptocurrency users, fostering innovation and financial inclusivity.

3. How Much Does It Cost to Hire a Blockchain Developer?

The cost to hire a blockchain developer can generally be around $15-$25 per hour. However, it will vary depending on the location and skills of developers. So, it is better to share your requirements with us.

4. How Does Crypto Payment Gateway Like Bitpay Work?

A crypto payment gateway like BitPay facilitates online transactions by allowing merchants to accept cryptocurrency payments. It integrates with merchant websites, converts crypto payments into fiat currency, and settles transactions, providing a seamless experience for both buyers and sellers.

5. How Much Does It Cost To Develop a Crypto Payment Gateway Like Bitpay?

The cost to develop a crypto payment gateway like BitPay varies based on factors like features, security, and scalability. It typically ranges from $10,000 to $15,000 for basic functionality, but can exceed $25,000 for comprehensive solutions with advanced features.

6. How To Monetize Crypto Payment Gateway Like BitPay?

There are multiple methods you can use to monetize your crypto payment gateway like BitPay. Here are some crucial ones we have jotted down: