Requirements

  • Lightning payments
  • PoS app or web app
  • Available in Canada

Payment processors

IBEX

  • Maximum payment: US$2,500
  • 0.5% for BTC, 1% for fiat
  • Shopify integration. Super easy to set up! Cool slider for BTC/CAD ratio
  • “Bitcoin Payment Terminal” Ability to set up multiple accounts (e.g. online sales, main location, off-site sales) and multiple terminals, e.g. multiple cashiers or servers
  • Looks like this, can see recent transactions

Bitpay

  • Great documentation, lots and lots of plugins (Woocommerce, Shopify, Wix, Magento, PrestaShop, etc)
  • Two business days, Minimum settlement: US$2,500
  • No web-checkout app. Requires download of a separate app through AppStore or PlayStore.

OpenNode

  • 1% fee
  • Individual KYC: SSN, Photo ID, Identity confirmation
  • Corporate KYC: SSN, Photo ID, Business Documentation, Beneficial Owner Documentation
  • Create payment requests, make templates, create formal invoices
  • Shopify, BigCommerce, WooCommerce, Magento, PrestaShop, Opencart
  • I was unable to sign up for the web PoS, but I think it exists

Neutronpay

Wallets with point-of-sale functionality

Breez

  • Requires some guidance for setup, need to create a beefy channel with inbound capacity at 0.3% cost of the total capacity
  • A bit resource intensive

CoinOS

  • Made in Vancouver!
  • Lots of cool functionalities: Lightning address, create vouchers, contacts, usernames
  • Need to be logged in to verify that you got paid!
  • Tips go into the same wallet.

Self-hosted

BTCPay

  • No fees, no signup. Self-hosted server.
  • Requires some maintenance and technical expertise
  • Costs about US$7 per month on Lunanode
  • Requires some channel management for Lightning
  • Looks like this

LNBits

  • No fees, no signup. Self-hosted server.
  • Requires either channel management for Lightning or a custodial API such as OpenNode or LNPay.
  • Lightning-only
  • Primitive PoS
  • Lots of fun integrations and functionality, such as LNURLp for tips, which can go into a separate wallet
  • Looks like this

Exchanges

Bull Bitcoin

  • ~1.5% fee
  • Only verifies email and phone number for amounts lower than CA$1,000 per transaction (CA$10,000 per day)
  • Instant interac transfers
  • Minimum payment CA$25

Conclusion:

  • You’re a technically minded business owner who wants to hold their own keys while reliably accepting Bitcoin payments online and offline.

–> Go run BTCPay! If you need CAD, go through Bull Bitcoin.

  • You want to integrate Bitcoin payments into your online shop and don’t want to worry about running a server or manage your own node. You want either BTC or CAD.

–> Integrate with OpenNode!

  • You run a brick and mortar shop with multiple cashiers or locations. You want CAD or BTC and don’t want to worry about servers or nodes.

–> Sign up with IBEX!

  • You’re your own proprietor and sell goods or services in person.

–> Download Breez and ask somebody for help setting it up. You can spend your sats directly (e.g. gift cards) or sell through Bull Bitcoin.