OpenNode vs. BitPay
Bitcoin and other cryptocurrencies have come a long way and gained popularity in recent years. As a result, payment processing technologies are now designing payment gateways to allow businesses to accept crypto payments. This is where OpenNode and BitPay come into the picture. Both are payment processing technologies that enable merchants to accept crypto payments. In this blog post, we will compare these two payment processing systems and their features.
OpenNode
OpenNode is a payment processing technology that enables businesses to accept and process Bitcoin and Lightning Network payments. It facilitates quick settlement times and offers a user-friendly interface to businesses. OpenNode's payment gateway can be embedded into an e-commerce store, and it has an easy checkout process, making it easy for customers to make payments. OpenNode does not charge any setup fees, and its transaction fees are 1% per payment.
BitPay
BitPay was founded in 2011 and is one of the most popular payment processors in the cryptocurrency industry. It supports Bitcoin and other cryptocurrencies, and it has integrations with major e-commerce platforms such as Shopify and WooCommerce. BitPay's transaction fees are 1% per payment, and it does not charge any setup fees. BitPay also offers settlements in various currencies, including USD, EUR, and GBP.
Comparison
| Features | OpenNode | BitPay |
|---|---|---|
| Settlement Time | Instant | 1-3 days |
| Transaction Fees | 1% per payment | 1% per payment |
| Setup Fees | None | None |
| Integrations | Limited | Major e-commerce platforms |
| Currencies Supported | BTC, LN | BTC, BCH |
As the comparison chart shows, both OpenNode and BitPay have similar transaction fees, and neither charge any setup fees. The key difference between the two is that OpenNode offers instant settlement, while BitPay takes 1-3 days for settlement. BitPay offers integrations with major e-commerce platforms, while OpenNode's integrations are limited.
Conclusion
Both OpenNode and BitPay are reliable payment processing technologies that facilitate cryptocurrency payments. Whether you choose OpenNode or BitPay will depend on your preference and your business needs. If you require instant settlements and an easy checkout process, OpenNode might be the better option for you. However, if you need integration with popular e-commerce platforms, BitPay might be the best choice.