With Crypto Merchant, an order is priced in a currency such as US dollars and the coin amount is locked when the customer picks a coin, so a price move while the customer pays doesn't change what the order is worth. A merchant is exposed to price moves only while holding a volatile coin after it arrives: from payment until payout or swap. Accepting USDT or USDC, which count as one US dollar each, removes most of that exposure.
Last checked: 10 November 2026, against checkout, payouts and swaps and pricing.
When does the price of a coin matter to a merchant?
There are three moments. Only the last one is in your hands.
| Moment | What can move | What happens at Crypto Merchant |
|---|---|---|
| Customer is paying | The coin price, during the minutes it takes to pay | The coin amount is calculated from live prices and locked when the customer picks a coin. If the payment is first seen while the invoice is still open, the locked rate applies. |
| Payment is confirming | Nothing for you: the amount is already fixed | The invoice waits for the network's confirmations, then shows as paid and the amount, minus the fee, is credited to your balance. |
| You hold the coins | The value of what you hold | Your balance stays in the coin the customer paid with until you pay it out, or until it is swapped into your holding coin if you chose one. |
Sources: checkout, exchange rates and payouts and swaps.
What does a locked rate mean on a crypto invoice?
You set the invoice price in a currency such as USD. When the customer chooses, say, Bitcoin, the invoice shows the exact BTC amount to send, worked out from the live price at that moment, and that amount doesn't change while the invoice is open. The invoice is open for a limited time, shown to the customer as a countdown. If nothing is paid before it runs out, the invoice expires and nobody is charged.
In the API, the locked price is rate_usd (the price of one unit of the chosen coin, in US dollars) and the amount to send is pay_amount.
What if the customer pays late?
If a customer paid but the payment wasn't seen before the invoice expired, they can report it from the invoice page. The address is still watched for at least 24 hours, and our support team checks the payment. Late payments are handled case by case, so tell customers to pay before the countdown ends. See checkout and how long a crypto payment takes to confirm.
Are stablecoins free of price risk?
Close to it, for a merchant who prices in US dollars. Crypto Merchant counts USDT and USDC as one US dollar each when it works out the amount to pay, and the coins you receive stay worth about one dollar each while you hold them. The remaining risk is that a stablecoin's market price moves away from one dollar. That is rare, but it has happened to some stablecoins, and it is a property of the coin, not of the gateway.
| You accept | Price risk while the customer pays | Price risk while you hold | Good for |
|---|---|---|---|
| USDT or USDC | None in practice: counted as $1 | Low: tied to the US dollar | Merchants who think in dollars and want predictable revenue |
| BTC, ETH, SOL and other coins | None: the amount is locked at checkout | Full: the value moves with the market | Customers who hold those coins, and merchants willing to hold them |
Crypto Merchant accepts USDT and USDC on several networks: see accept USDT, accept USDC and the wider guide to stablecoin payments for business.
How do I limit the time I hold a volatile coin?
- 1Pay out often. There is no set minimum on manual payouts; automatic payouts wait until a coin's balance is worth at least $5. Each payout carries a gas fee, from the gas balance or the coins being moved, so many tiny payouts cost more in gas. Today's figures are on network fees.
- 2Ask customers to pay in stablecoins. You choose which coins your checkout accepts.
- 3Hold one coin, as described below.
What does holding one coin change?
In the portal you choose to be paid per coin (each coin is paid out as it is, nothing swapped) or to hold one coin. With a holding coin, everything you receive is swapped into that coin automatically every 24 hours, or when you request a payout. Swap rates are based on live market prices and include our 1% service margin, and each swap carries a gas fee for the transfer. You get the rate when the swap runs, not the rate when the payment arrived, so until the swap you still hold the coin that was paid. See payouts and swaps.
What does it cost?
| Cost | Amount | Source |
|---|---|---|
| Processing fee | 1% of each paid invoice, taken in the coin the customer paid with | Pricing |
| Expired or cancelled invoice | Nothing | Pricing |
| Payout | A gas fee, from the gas balance or the coins being moved | Pricing |
| Swap into a holding coin | The live market rate, which includes our 1% service margin, plus a gas fee | Pricing |
There is no monthly fee and no setup fee. If a customer sends less than the invoice asked for, for example because their exchange took a withdrawal fee, see underpaid and overpaid crypto payments.