BitPay has a new partner to spend Bitcoin
Blockchain one of the largest wallets in the industry announced its partnership with BitPay, which is considered the largest bitcoin processor in the industry.
Recently a blog post on Blockchain reviewed its association with this payment processor. This action taken by the blockchain team is derived from the big question: what can I spend my bitcoins on?
Since the rise of Bitcoin in 2010, multiple companies have introduced bitcoin and other cryptocurrencies into their payment methods.
BitPay for its part processes more than 1 billion dollars per year in payments of bitcoins between companies and users; and processes at least 2.8 billion dollars among other cryptos with various clients since 2011.
Blockchain users will now be able to access this universe of merchants for the use of cryptocurrency as a payment method for the acquisition of goods and services instead of using fiat currency as the preferred payment method.
BitPay has created a complete payment system which allows merchants such as Amazón, Hotels.com since within the platform it allows the settlement of fiat currency payments.
Blockchain is also considered one of the largest wallets in the world because it has at least about 38 million users, of which more than half live outside the United States.
This figure currently represents a quarter of the transactions that are recorded in the blockchain, so this data is very interesting to note that this payment provider, being a giant of its kind, expands its portfolio of associated companies by including One of the largest in the industry.
The Blockchain statement reads: “We are excited to see that this new addition connects our Wallet users with the world of merchants that accept Bitcoin (and soon other cryptos) as a payment method, one of the key ways to interact and grow the digital asset ecosystem ».
With an optional service to know your client (KYC), Blockchain is an excellent option to enter the world of crypto. Unlike BitPay, KYC rules are optional, on the contrary, BitPay necessarily requires you to undergo this type of verification.
In addition, Blockchain has been improving its services, and last July it presented its encryption exchange platform, the PIT, with the option of connecting companies’ wallets for almost instant transfers.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.