BitPay vs Stripe

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BitPay

21
45
+ 1
0
Stripe

15.9K
10.1K
+ 1
1.5K
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BitPay vs Stripe: What are the differences?

What is BitPay? Bitcoin payments, deposited to your bank account. Once received, BitPay converts the bitcoin to your preferred currency and adds the full amount of the payment – without fees – to your next BitPay account settlement. Funds are then deposited to your bank account or bitcoin address.

What is Stripe? Payments for developers. Stripe makes it easy for developers to accept credit cards on the web.

BitPay can be classified as a tool in the "Bitcoin Services" category, while Stripe is grouped under "Payment Services".

Some of the features offered by BitPay are:

  • Direct Bank Deposit
  • Cryptographically Secure API
  • Custom Transaction Speed Setting Options

On the other hand, Stripe provides the following key features:

  • Full-stack payments- You don’t need a merchant account or gateway. Stripe handles everything, including storing cards, subscriptions, and direct payouts to your bank account. Stripe.js lets you build your own payment forms while still avoiding PCI requirements.
  • An API that gets out of your way- It’s so easy, we’ve embedded a bunch of examples right here. Copy some of these requests into your terminal and check out what happens. With wrappers in Ruby, PHP, Python and more, you can get started in minutes.
  • Pricing like it should be- 2.9% + 30 cents per successful charge. No setup fees, no monthly fees, no card storage fees, no hidden costs: you only get charged when you earn money.

reddit, Instacart, and Lyft are some of the popular companies that use Stripe, whereas BitPay is used by FastMail, SHOUTca.st, and Foretag. Stripe has a broader approval, being mentioned in 1622 company stacks & 520 developers stacks; compared to BitPay, which is listed in 4 company stacks and 5 developer stacks.

Decisions about BitPay and Stripe
Lucas Litton
Founder & CEO at Macombey · | 4 upvotes · 184.1K views

We use GoCardless to simplify the way clients and partners pay for our services. What intrigued us is the quick and easy ACH feature that gives our clients the option to log in with their bank account and shoot the funds directly to our account. The fee, compared to Stripe is less. Stripe and PayPal charge 2.9% + 30c and Stripe also forces the client to enter in all of their payment details manually and then if the payment doesn't work, the client has to try all over again. GoCardless charges 1% + 25c which is much more reasonable dealing with the large projects that we are currently working on.

We integrate GoCardless with Xero to easily send out quick invoices, receive the funds and track all revenue in one place.

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With COVID-19 looming over us, businesses are, more than ever, looking for ways to set up online payments.

And having recently gone through implementing both Stripe and GoCardless to get monthly subscriptions set up and automated on my company website, I felt there was no better time to write this blog post!

If you're currently looking at working with a Payment Gateway provider API, or you're currently working with one but are not a fan, are looking to automate things a bit more, or are just generally thinking about changing, then you should have a read of my latest blog post where I compare Stripe and GoCardless.

I compare APIs in depth, specifically the subscription checkout flow that both offer (they're very similar, with some BIG differences).

There are plenty of code examples on how to set it up in a Node.js environment and right at the end, I rate each API based on the following factors:

  • API ease of use
  • API documentation
  • Payment pages
  • Costs / fees
  • Security
  • Developer appeal
  • Customer experience
  • Free Trial

So feel free to check it out, and I hope you like it. Please leave any feedback as it is very helpful. Thanks!

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Stripe was made with developers in mind first so the extensibility of it is great! This makes it very easy for us to integrate and automate as much as we need with its APIs and SDK. It allows a lot of customization of exactly what we need to build our applications. They also manage all of our customers from a tax and accounting perspective which makes it easy from a business standpoint.

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Pros of BitPay
Pros of Stripe
    Be the first to leave a pro
    • 302
      Easy setup
    • 292
      Developer friendly
    • 248
      Well-designed api
    • 191
      Great documentation
    • 169
      Clear pricing
    • 75
      Secure
    • 74
      Reliable
    • 63
      Full integration with webhooks
    • 43
      Amazing api
    • 38
      Great customer support
    • 11
      Easy
    • 6
      Credit cards never hit your server - no pci worries
    • 4
      No merchant account/gateway required
    • 4
      Recurring billing
    • 3
      Easy to integrate
    • 2
      Support for SCA (Strong Customer Authentication)
    • 2
      Great app
    • 2
      BitCoin
    • 2
      Fast UI
    • 1
      Payments without own backend (using Stripe Products)
    • 1
      Checkout.js
    • 1
      Great UI
    • 1
      So easy to use
    • 1
      Beautiful

    Sign up to add or upvote prosMake informed product decisions

    Cons of BitPay
    Cons of Stripe
      Be the first to leave a con
      • 3
        Connect
      • 2
        CANNOT withdraw USD to a Canadian Bank Account
      • 2
        Does NOT have a currency conversion option like Paypal
      • 2
        They keep 25% of the income for 60 days

      Sign up to add or upvote consMake informed product decisions

      What is BitPay?

      Once received, BitPay converts the bitcoin to your preferred currency and adds the full amount of the payment – without fees – to your next BitPay account settlement. Funds are then deposited to your bank account or bitcoin address.

      What is Stripe?

      Stripe makes it easy for developers to accept credit cards on the web.

      Need advice about which tool to choose?Ask the StackShare community!

      What companies use BitPay?
      What companies use Stripe?
      See which teams inside your own company are using BitPay or Stripe.
      Sign up for StackShare EnterpriseLearn More

      Sign up to get full access to all the companiesMake informed product decisions

      What tools integrate with BitPay?
      What tools integrate with Stripe?

      Sign up to get full access to all the tool integrationsMake informed product decisions

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      What are some alternatives to BitPay and Stripe?
      Coinbase
      Coinbase provides a simple and powerful REST API to integrate bitcoin payments into your business or application. We allow all major operations in bitcoin through one API.
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      PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards. PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.
      Blockchain
      It is a bitcoin block explorer service, as well as a cryptocurrency wallet supporting bitcoin, Bitcoin Cash, and Ethereum.
      Coinalytics
      Skry is the leading Blockchain analytics and intelligence startup based out of Silicon Valley. We provide an data platform that enables enterprises to derive real-time business intelligence and risk assessment from Blockchains.
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