OpenNode Review — A Bitcoin-only Payment Service

Overview

Summary

OpenNode Pros and Cons

Pros:

  • On-chain Bitcoin payments & Instant Lightning Network Bitcoin payments
  • Easy to use Platform and simple API integration
  • Low per-transaction fees
  • Compatible with all smartphones and bitcoin wallets
  • On-chain and Lightning Network support (for instant payment and settlement)
  • KYC Compliant
  • Exceptional technical and customer support

Cons

  • A relative newcomer compared to incumbents
  • 8 local currencies supported for funds transfer

OpenNode Features

  • On-chain & Lightning Network payments
  • Payment Buttons/Links
  • Payouts
  • eCommerce Checkout
  • Invoices
  • In-person Payments
  • Instant Settlement
  • Automatic Conversion from Bitcoin to Local Currency at the time of the transaction
  • Bitcoin Transfer
  • Bank Transfer (T+1)
  • Merchant Dashboard
  • Reporting
  • API Access
  • Customer & Tech Support
  • Payments Compliance

How OpenNode Works

  1. Plugin integration: OpenNode offers plugins for popular e-commerce platforms like Shopify and WooCommerce with simple setups that take less than 5 minutes to begin accepting Bitcoin payments.
  2. API Integration: If a business needs a branded checkout or has more complex checkout flows, OpenNode provides an API to make it easy to accept payments and also do payouts.

Comparison with other products

Lightning Network

User Experience

Performance and Security

OpenNode Pricing

QuikNode pricing

Conclusions

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Gaurav Agrawal

Gaurav Agrawal

Telegram @gaurav_zen , Editor — Coinmonks publication (medium.com/coinmonks) and working on (https://coincodecap.com)