How Much Will It Cost To Build A Crypto Payment Gateway Like BitPay?

How Much You Need To Invest Into Crypto Payment Gateway?

Are you also finding the answer to the question “ How much does it cost to build a crypto payment gateway?”. The increasing hype of blockchain has inspired various organizations to upgrade their applications with a crypto-payment gateway like BitPay or some are looking to develop a dedicated crypto-payment gateway. 

Well, cryptocurrencies are swiftly evolving the landscape of digital commerce and providing a secure, fast, and transparent alternative to traditional payment systems, therefore, industry pioneers are actively looking to invest in a crypto-based payment gateway similar to BitPay!

According to the reports, the global crypto payment gateway market size was valued at $1.2 billion in 2023 and is expected to grow at a CAGR of 15% and make $4.4 billion between 2024 to 2032. 

Moreover, as of 2024, the global cryptocurrency ownership rate is estimated to be 6.8% with over 560 million users worldwide. The biggest reason being more and more users are inclined to crypto payment gateways is, that crypto-based transactions take a couple of minutes while traditional transactions take up to 15 days to settle. 

When talking about the crypto payment gateways, BitPay is one of the top trusted and reliable gateways, compatible with many cryptocurrencies including Bitcoins and Bitcoin Cash. 

Digital currencies offer plenty of benefits like decentralization, transparency, and low fees. In addition, cryptocurrencies are completely operated in the blockchain network. 

The increasing popularity of crypto platforms has provided entrepreneurs and startups with innovative ideas to capitalize on this growing trend. This is where leading organizations and early-age startups are actively making investments in crypto payment gateway development like BitPay to deliver secure and safe transaction experiences to their customers. 

But companies are often grappling with the question “How much does it cost to build a crypto payment gateway like BitPay?”.

The straight answer to this question is it DEPENDS! Various blockchain app development companies will provide the estimated cost to create a crypto payment gateway like BitPay between $25,000 to $50,000+. 

However, it can greatly vary depending on the project’s overall complexity. The cost just doesn’t include the development cost, but also there are ongoing expenses of keeping the app running securely, and safely. 

Seeking to hire a blockchain development company to get started with a crypto payment gateway like BitPay? Xicom can help with a strategic and well-guided roadmap to help you proceed systematically in this highly competitive market. Let’s connect for a detailed discussion.

Comprehensive Overview of Crypto Payment Gateway – BitPay 

BitPay is one of the top crypto payment gateways that help businesses take payments in digital currencies. All thanks to its user-friendly interface and top integrated functionalities that not only make BitPay a popular payment gateway but also let businesses accept Bitcoin and other digital currencies. It helps you reach more customers and save money on operation fees while keeping the transactions and data secure as they work on blockchain networks. 

Since its inception in 2011, BitPay has been recognized as the most trusted and best crypto payment gateway process in the entire crypto marketplace. It’s a US-based crypto payment gateway that allows you to perform crypto transactions globally with top-notch security. 

Being a top crypto payment gateway, it helps you proceed with all payments along with 16+ cryptocurrencies including Bitcoin, Ripple, EOS, and more. It is seamlessly operating in 200+ territories with the support of more than 20,000+ industries. 

Looking to make crypto transactions easier for customers?

Let Xicom create a crypto payment gateway like BitPay and help you reduce 80% of transaction fees and make it 30% faster than conventional payment processing methods.

Let’s Connect Now

How Does BitPay Like Crypto Payment Gateway Work?

A BitPay-like crypto Payment gateway enables businesses to accept cryptocurrency payments seamlessly by handling key points:

• Payment Initiation: The customer selects the crypto as their payment method and then the gateway generates a unique wallet address or QR code.
• Blockchain Verification: The reason being working on a blockchain network, is that all transactions are recorded and verified on the blockchain, ensuring the security and safety of data and transactions. 
• Instant Conversion: Once the details are verified by Blockchain, the Payment gateway instantly converts the fiat currency via integrated exchanges. 
• Funds Settlement: The converted funds (or crypto) are transferred to the merchant’s account.
• Security Measures: The BitPay-like payment gateway is fully encrypted, and offers two-factor authentication and fraud prevention to ensure optimum secure transactions. 

Before you hire a Blockchain developer to start developing a crypto payment gateway like BitPay, it is worth knowing about the facts and stats that make BitPay a popular gateway. 

Interesting Facts And Stats About BitPay 

Here are the quick technical highlights about BitPay that make it a popular and trusted crypto payment gateway:

• BitPay is a top-class crypto payment gateway that instantly converts crypto to fiat, protecting your business from price volatility.
• It supports and accepts multiple cryptocurrencies, appealing to a global user base. BitPay boasts excellent security standards as it employs multi-signature wallets, encryption, and two-factor authentication to safeguard transactions.
• It ensures low transaction fees and follows transparent transactions. 
• Ensures regulatory compliance including AML and KYC, making it a trustworthy option for businesses. 

These are the tech-driven highlights of BitPay, that make it a popular choice for crypto payment gateway. But how popular is it in reality?

Stats and Facts about BitPay

• It processes more than $1 billion worth of cryptocurrency transactions annually. 
• It supports over 95+ countries and allows businesses to manage global crypto payments.
• BitPay is trusted by more than 75,000 merchants worldwide including major brands like Microsoft, and AT&T.
• It charges up to a 1% transaction fee which is quite lower than traditional methods.
• Businesses can process transactions within 30 seconds.
• BitPay experiences an annual growth of 20% in user adoption. 

All these facts and stats are making it a popular choice for businesses and tech companies to create crypto payment gateway apps like BitPay. But how much does it cost to build a crypto payment gateway like BitPay? Since there are various emerging technologies like AI in Banking and Fintech, Big data, and blockchain are quickly adding up to the cost, therefore, it’s always worth getting your project cost evaluated by the experts.

How Much Does It Cost to Build a Crypto Payment Gateway?

So finally how much does it cost to create a Fintech app that helps you seamlessly process crypto payments like BitPay?

The cost to develop a crypto payment gateway like BitPay can range between $20,000 to $25,000+ for the basic gateway version whereas the complex payment gateway with high-end features and functionalities ranges between $30,000 to $50,000+ or more depending upon the complexity of the project. 

Before you hire a mobile app developer by considering these estimations as the final cost, it is worth understanding that the cost of developing a crypto payment gateway depends upon features, functionalities, app design, size of the development team, and platform type. 

If you are looking to get an idea about the cryptocurrency exchange development cost based on the complexity, then consider the below table. 

Complexity Level	Features Included	Estimated Development Time	Estimated Cost Range
Basic	– Multi-Crypto Support (e.g., Bitcoin, Ethereum)	3-6 months	$20,000 – $30,000
	– Basic Wallet Integration
	– Simple User Interface
	– Transaction History
	– Basic Security (e.g., encryption, single-sign-on)
Intermediate	– Multi-Crypto and Stablecoin Support	6-9 months	$30,000 – $50,000
	– Instant Conversion to Fiat
	– Advanced Wallet Integration
	– Enhanced Security (two-factor authentication, fraud detection)
	– QR Code and Mobile Payment Support
	– Admin Dashboard with Analytics
Advanced	– Support for Numerous Cryptocurrencies and Stablecoins	9-12+ months	$50,000 – $100,000+
	– Real-Time Conversion and Price Tracking
	– Advanced Security Features (multi-signature wallets, KYC/AML compliance)
	– Cross-platform integration (web, mobile, desktop)
	– Detailed Analytics and Reporting
	– Customer Support and Multi-Language Support
	– Smart Contract Support

To estimate a crypto payment gateway like BitPay, you need to understand what exactly contributes to its development cost. So before you get straight to hire a software developer, set the budget by deeply understanding the factors contributing to the overall cost.

Major Factors Affecting the Cost of Building a Crypto Payment Gateway Like BitPay

If you have finally decided to invest in BitPay like Crypto Payment Gateway development, and find it difficult to set the right budget, then here we have mentioned all the crucial factors affecting the overall cost of development. By understanding these key elements, enterprises can easily evaluate how each factor is influencing the final cost of creating a crypto payment gateway.

1. Complexity of the Platform

The complexity of the platform is defined by the choice of features and functionalities you choose to integrate into the product. It is one of the major factors affecting the BitPay-like app development cost.

As it encompasses various functionalities such as transaction processing, real-time updates, and more. The more elements you add to the platform, the additional cost layers will be added to the budget. So the more intricate functionalities and features you consider adding to the app, the higher investment it would be required for successful development. 

2. Location of Development Team

The next factor that influences the overall cost of the crypto payment gateway, is the location you choose to hire software developers. It can greatly vary depending on the living cost and market competition. For example, companies in the US or UK will substantially charge more compared to the companies available in Asia. But their initial cost with quality commitment will easily pay up later.  

Region	Average Hourly Rate (USD)
North America (USA, Canada)	$80 – $150
Western Europe (UK, Germany, France)	$70 – $120
Eastern Europe (Poland, Ukraine, Romania)	$40 – $80
Asia (India, Philippines)	$25 – $50
Australia	$70 – $120
Latin America (Brazil, Argentina)	$40 – $70
Africa (South Africa, Nigeria)	$30 – $60

3. UI/UX Design

BitPay is globally recognized for its user-friendly interface that ensures visually appealing design and mobile responsiveness. Its UI/UX design majorly contributes to user satisfaction, but it definitely adds up to the cost. 

The cost to develop a crypto payment gateway like BitPay can vary based on the complexity of its UI/UX design.

Get Ready to Expand Your Business With the Power of Crypto!

There is a surge of 40% in cryptocurrency usage among millennials. Let Xicom help you tap into this growing user base by integrating customized crypto payment gateway like BitPay for secure payments.

Let’s Connect Now

4. Platform Security

To create a crypto payment gateway, it’s important to hire a software development outsourcing company that helps you implement high-level encryption standards, incorporating multi-factor authentication and compliance with regulatory requirements. 

5. Payment Process Integration

Did you know BitPay accepts 16 cryptocurrencies? It accounts for 70% of the global crypto market cap, which means it boasts a powerful payment processor. To make your platform work flawlessly, make sure it is integrated with diverse payment processors which requires API integrations to ensure seamless transactions. 

6. Maintenance and Updates

The cost to create a crypto payment gateway also includes ongoing maintenance cost which roughly falls between 20to 25% of the overall development cost. The ongoing maintenance of the app includes all bug fixes, security updates, and upgrading an app with new app versions. It is important as it makes sure that your payment gateway runs smoothly and must be compatible with the latest versions. 

Conclusion

At the end of this blog, it is fair enough to say that the demand for crypto payment apps will gradually increase. Though BitPay is simple to access and has shown itself as a trusted payment service provider for businesses, therefore it’s worth investing in a crypto payment gateway like BitPay. It provides better opportunities for enhanced security, global transactions, and cost reduction.

However, the process of creating a crypto payment gateway would involve strategic planning, blockchain selection, user-friendly design, and robust security security measures. To get started with the crypto payment gateway, you need to hire a mobile app development company that can translate the idea into a robust payment platform. 

Xicom Technologies is a leading crypto payment gateway and e-wallet development company, specializing in providing customized solutions in the rapidly evolving market. If you are all set with your requirements drop your query below or contact us for detailed estimations!

FAQs

Here we have gathered additional information related to crypto payment gateway development like BitPay to help you make an informed decision.