![]() Almost any alternative will be better,” he tweeted. Bitpay won’t be using Lightning or Liquid any time soon, with actual Bitcoin payments still accounting for 95 of transactions. “Truly the worst experience you can imagine - poor reputation, abysmal communication, horrible customer service, very high fees. That initial collapse brought down BitPay’s annual revenue from 6.23M in 2013 to a revenue loss of 35,000 in 2014. The original BTC spike to 1,150 at the end of 2013 was followed by a fall to around 300 by the end of 2014, a collapse of about 75. The Hong Kong Free Press accepted crypto payments in BitPay to help fund its impartial media coverage of the protests this summer.Ĭoincidentally, Tom Grundy, the founder and editor-in-chief of HKFP told users last week to “never use BitPay” after he complained that donated funds were suspended. On BitPay’s balance sheet, we know the following. Last month, BitPay announced it had integrated its services into Blockchain, a Bitcoin wallet and block explorer provider that has over 41 million users.īitPay’s USP is that customers can buy things in Bitcoin, but have transactions settled in the business’s currency of choice. Since its founding in 2011, it has raised over $70 million in funding and processed over $2.8 billion to date, most of which in Bitcoin. “This truly opens up a new world of possibilities for the Ethereum ecosystem,” he continued.īitPay is one of the world’s largest crypto payment providers. ![]() "It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems,” Vitalik Buterin, founder and creator of Ethereum, said in a press release. ![]() Users now can store and use Ethereum in a BitPay wallet, and those who have BitPay pre-paid Visa debit cards can top up their balances. This adds to BitPay’s current offerings of Bitcoin and Bitcoin Cash, as well as dollar-pegged stablecoins USDC, Gemini Dollar, and Paxos Standard token. Read the full story from BitPay by clicking here.Global payments provider BitPay announced today that businesses can use its services to accept Ethereum. The company has offices in North America, Europe and South America.Ĭlick here for more on Galileo’s support of cryptocurrency products. 2351 Newsletter Crypto Biz: Gucci ‘apes’. Its products enable businesses to send and receive cross-border payments, also enabling consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars with the major network branded reloadable cards. Total crypto payments on BitPay remained stable despite the bear market, with monthly transactions surging from around 58,000 in 2021 to 67,000 in 2022. Galileo CEO Clay Wilkes commented on the announcement saying, “We’re honored that BitPay is using Galileo’s flexible APIs to power its BitPay Card, making it easy for customers to pay for purchases through the conversion of cryptocurrency into fiat currency and spend wherever Mastercard debit cards are accepted.”īitPay is a pioneer in bitcoin and blockchain payments. Customers also can use their cards for purchases and to withdraw cash from ATMs. The card, which is powered by Galileo, enables customers to instantly convert cryptocurrency into fiat currency, which is then loaded onto the card and can be spent anywhere Mastercard debit is accepted around the world. We’re proud to congratulate our client BitPay on its launch of the BitPay Card, the first Mastercard Prepaid card for crypto users in the United States.
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