BitPay accepts Bitcoin Cash on point-of-sale app

BitPay accepts Bitcoin Cash on Checkout point-of-sale app

Cryptocurrency payment service provider BitPay has expanded its Bitcoin Cash (BCH) support, allowing merchants to accept the cryptocurrency on its Checkout point-of-sale (PoS) app.

With this recent development, customers will no longer have to convert their Bitcoin Cash to BTC coins when paying for their purchases. Now, they can go to the retail store and pay for their goods—using BCH. This will be done by scanning BitPay Checkout QR code using their mobile or tablet.  Once the customer makes the payments, the checkout system allows the retailer to receive a “local currency bank settlement within one day.”

In a statement, BitPay said that the new version not only “improves the app’s design and performance” and extends Bitcoin Cash support, it also adds BitPay’s changes for Payment Protocol-any payments and other invoice updates.

“Now, brick and mortar businesses can accept error-free [BTC coins] and Bitcoin Cash payments in a flash from customers, with no risk to cryptocurrency price volatility,” according to BitPay. “Merchants get every dollar or euro they charge, minus BitPay’s 1% processing fee.”

The decision to add another cryptocurrency to its PoS app comes after seven years of only supporting BTC coins on their platform. In March, BitPay made it possible for clients to transfer Bitcoin Cash through VISA card invoice loads. After loading the card, users can make either BTC coin or Bitcoin Cash payments. At the time of the launch, BCH network fees were 0% while the BTC network fee was 1.9%.

Adding a BCH settlement option to the BitPay platform will help retailers to keep their proceeds in Bitcoin Cash if they so wish or convert them to the currency of their choice. Currently, retailers receive an equivalent amount of the paid BCH converted into BTC coin or any fiat.

Businesses that have tried BitPay’s Checkout PoS app include retail merchants participating in a “Bitcoin Boulevard” in Paris’s Passage du Grand Cerf, a cafe in Deloitte’s Toronto office, retailers and restaurants in St. Petersburg and Madeira Beach in Florida, and Gino’s Classic Barber Shoppe in Atlanta, Georgia.

In his earlier interview with CoinGeek, BitPay CEO Stephen Pair said, “Offering the same services for the Bitcoin Cash blockchain will make it easier for customers and businesses to use BCH for important transactions.”

The new changes are not available to certain groups of business. In their Term of Use agreement, BitPay bans the explicit sale of drugs, sexual content (porn) and ammunition.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
CheapAir wants your opinion on dropping Coinbase

CheapAir wants your opinion on dropping Coinbase

Your input is needed. In an open letter to customers, CheapAir’s CEO, Jeff Klee, wants to know what people think about moving away from Coinbase for a different option such as BitPay. Now is the perfect time to let your voice be heard.

Since 2013, customers have been able to pay for flight and hotel bookings using BTC coin; however, Klee points out that Coinbase’s decision to suspend “custodial” solutions for merchants could be a deterrent to the practice. In lieu of Coinbase’s Merchant Tools, all merchants will have to switch to Coinbase Commerce by the end of May. With that transition, merchants will have to be in charge of their own cryptocurrency payment solutions.

Klee suggests BitPay as a viable alternative, although he notes that BitPay is limited to a degree since it only works with certain protocol-compliant wallets.

“We understand what BitPay is trying to accomplish,” Klee wrote. “The issues they are trying to address—delayed or incorrect payments—are real and were especially rampant back in December and January when transaction volumes spiked. On the other hand, I am not keen on the idea of asking our customers to, in many cases, do more work or change wallets just to be able to transact with us.”

There are several ways for customers to leave their feedback: by commenting on the post on the website; by responding to the @cheapair handle on Twitter; or by sending Klee an email directly to jeff@cheapair.com. All feedbacks are welcome, whether they be in favor or against the move, or even general comments on the idea. No deadline to leave comments was given.

Litecoin’s Charlie Lee has already spoken up on the subject. In a tweet, Lee suggested using AliantPayment, which currently only accepted SegWit-Coin BTC, Ethereum and Litecoin.

The jury is still out on whether or not the Coinbase move is a smart one. Already, Reddit has removed BTC coin as a payment option for its Gold premium membership program due to the switch, and many other companies may follow suit.

Atlanta, Georgia-based BitPay has been around since 2011. It accepts BTC coin and Bitcoin Cash, and is currently one of the world’s largest cryptocurrency payment processors. It has partnered with NewEgg, Microsoft, TigerDirect and Warner Bros. Records. It reportedly processes more than $1 million in payments daily.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Luxury Swiss watch maker now accepts Bitcoin Cash

Luxury Swiss watch maker now accepts Bitcoin Cash

For those with a few extra Bitcoin Cash (BCH) collecting virtual dust in a wallet, a Swiss watchmaker has the perfect solution. Manufacture Contemporaine du Temps (MCT) has partnered with cryptocurrency payment provider BitPay, allowing it to accept both SegWit-Coin BTC (otherwise known as Bitcoin Legacy or Core) and BCH for purchases. To make things even more enticing, the company offers free shipping around the world.

In fact, in order to buy a watch from MCT, a cryptocurrency wallet is mandatory. The company just began selling its watches online, and only accepts the two cryptocurrencies or an international wire transfer. Shipping takes approximately 10 days after the payment is confirmed.

According to the company’s website, the automatic movements with 18K gold micro-rotor are developed in-house by the company. Remarkably legible hours are indicated by four modules, each comprising five triangular prisms. The hour is highlighted by an open window in a “C-shaped” arc around the center of the dial, which is relief-engraved with “Manufacture Contemporaine du Temps.” The central disc jumps sequentially 90 degrees counterclockwise each hour to highlight the new hour, while minutes are displayed 360 degrees around the full perimeter of the dial.  The combination of oversized hour numerals and central minutes offers an extremely legible time indication.

The description of the timepieces continues by adding that the lower mass of the micro-rotor requires less force than a traditional full-size rotor. Visible through the display back, the beautifully hand-finished movement bridges offer an eye-catching contrast to the warm glow of the red gold weight, and mainspring crystal, or chaton. The one exception to the analog watch line is the company’s Dodekal One, which is a hybrid mechanical watch that digitally displays the hour in the center of the dial.

MCT manufacturers each watch by hand, producing between 100 and 150 each year. All are limited edition watches and are currently offered in high-end boutique stores in over 40 countries. The company is now the first major watch manufacturer to officially accept payments with SegWit-Coin BTC and BCH.

The watches certainly aren’t for everyone. Prices start at around $45,000 and go to almost $100,000. For anyone that’s done well with SegWit-Coin BTC or BCH investments, however, the watch would be a nice way to reward yourself.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
BitPay closes extended $40 million Series B Round

BitPay closes extended $40 million Series B Round

Led by new investors Menlo Ventures, G Squared and Capital Nine

ATLANTA, April 3, 2018 – BitPay, the largest global blockchain payments provider, today closes its $40 Million extended Series B funding round, which brings its total raised capital to over $70 Million.  New investors in BitPay include Menlo Ventures, Capital Nine, G Squared, Nimble Ventures (an affiliate of Passport Capital) and Delta-v Capital as well as individual investments from Christopher Klauss Family Office, Founder of Internet Security Systems (ISS), and Alvin Liu, Co-founder of Tencent.  Aquiline Capital Partners led the initial Series B Round but extended the round due to increased investor demand.

“BitPay had a record 2017 as we processed over $1 Billion in bitcoin payments.  We brought on these new investors who can help BitPay scale globally to meet customer demand,” said Stephen Pair, BitPay CEO.  “Our goals include key hires in engineering and regulatory licensing, as well as expansion into emerging markets in Asia–one of BitPay’s fastest-growing regions for transactions and wallet adoption.”

Menlo Ventures selected BitPay as its first institutional crypto investment after spending significant time researching the broader crypto and blockchain ecosystem. Menlo is committed to thesis-based investing, and prioritizes companies that are reshaping large and important markets through technology- and process-driven breakthroughs. Poised to profoundly change a rapidly evolving industry, BitPay joins the Menlo portfolio alongside leading companies such as Uber, Betterment, Roku, BlueVine, and Warby Parker.

“We gravitated towards BitPay because we felt the company had identified a killer use for crypto in facilitating low cost payment solutions for cross-border commerce and B2B payments, which is a massive market poorly served by the existing payment rails,” said Tyler Sosin, a partner at Menlo Ventures. “We are impressed with the company’s execution—it has demonstrated extremely efficient growth and a stickiness with merchants and consumers that is the hallmark of many great payment service providers. As the market leading crypto-processor, BitPay is well positioned to both benefit from and serve the fast moving crypto-ecosystem.”

Asia is a growing region for BitPay and as a result a significant portion of the Series B investors are from this region. Capital Nine is an Asian fintech corporation and investor with millions of customers across Asia.  Other investors from Asia include Alvin Liu, Co-Founder of Tencent, and Yong An Financial Holdings Co., Ltd

“Bitcoin’s popularity is spreading rapidly throughout Asia and BitPay has an opportunity to extend its technology solutions across Asia,” said Sam Lin, Director of Capital Nine.  ”BitPay’s cross-border payment solution helps businesses pay or receive international payments faster and more economically.”

Renowned security expert and technology entrepreneur Christopher Klaus founded Internet Security Systems (ISS), turning it into one the first large Internet security companies selling to IBM for $1.3 Billion in 2006.

“Security is extremely important to the blockchain network and BitPay,” said Christopher Klaus. “I have been watching the cryptocurrency space and believe BitPay is able to disrupt the financial services worldwide through payment processing and cross-border payments  in large part because of the security built into blockchain.”

Hundreds of thousands of businesses around the world have signed up with BitPay to accept bitcoin payments, including popular brands like Microsoft, Newegg, Namecheap, Gyft, Takeaway, and Virgin Galactic. BitPay works with over 30 e-commerce and point of sale integrators to promote the use and acceptance of bitcoin. The BitPay Wallet consumer adoption is growing with a monthly average of  more than $3 billion in transactions. In 2017, BitPay achieved record growth increasing revenues by nearly 700% and is profitable.

In 2014, BitPay raised a $30 million Series A round from investors including Index Ventures, Founders Fund, Felicis Ventures, RRE Ventures and Sir Richard Branson.

About Menlo Ventures

Menlo Ventures provides capital for multi-stage consumer, enterprise, and life sciences technology companies. Since 1976, the firm’s market-driven analysis has led to the identification of opportunities and successful investments in innovative markets. Notable areas of investment include Marketplaces (Uber, Rover.com, Breather, RealtyShares, Getaround); Consumer Services (Machine Zone, Tumblr, Betterment, Poshmark, Roku, Siri); Smart Cloud Infrastructure (Dropcam, 3Par, Avi Networks, Avere Systems, eero); SaaS (Carbonite, Signifyd, Clarifai, Overops, Usermind), Fintech (Betterment, Bluevine, RealtyShares); Cybersecurity (Cavium, IronPort, BitSight, vArmour, Dedrone); and Life Sciences Technology (Synthego, Cofactor Genomics, Recursion Pharmaceuticals, 3T Biosciences). Menlo’s portfolio includes more than 70 public companies, and more than 100 mergers and acquisitions, with $5 billion under management. The firm is currently investing in Menlo Ventures XIV, a $450 million early-stage fund, as well as its $250 million Menlo Special Opportunity Fund, which targets early-growth investments. For more information, visit www.menlovc.com.

About G Squared

G Squared is a premier growth-stage venture capital firm investing in the world’s leading companies across six megatrends: Cloud Computing and Big Data, Marketplaces, Mobility 2.0, New Age Media, Social Mobile, and Sustainability. G Squared acts as a unique transitional capital provider by making growth investments and providing liquidity to founders, employees and early investors as companies migrate from start-ups to global leaders. To date, G Squared has invested in 25+ companies including 23andMe, Alibaba, Coursera, Dropbox, Instacart, JAMF Software, Lyft, Palantir, Pinterest, Postmates, Snap, Spotify, and Twitter, among many others. For more information, visit http://www.gsquared.com or contact us at GSquared@GSquared.com.

About BitPay

Founded in 2011, BitPay is the pioneer and the most experienced company in bitcoin and blockchain payments. Its suite of products enables businesses to send and receive cross border payments, and enables consumers to manage digital assets with the BitPay Wallet.  The company has offices in North America, Europe, and South America and has raised over $70 million from leading investors including Founders Fund, Index Ventures and Aquiline Technology Growth.   For more information visit ​https://bitpay.com

source: https://coingeek.com/bitpay-closes-extended-40-million-series-b-round/

BitPay merchants can now receive Bitcoin BCH payments

BitPay merchants can now receive Bitcoin BCH payments

The wait is finally over for BitPay merchants wanting to accept payments made directly in Bitcoin Cash (BCH).

On Wednesday, the cryptocurrency payment processor announced that its affiliated merchants—over 100,000 of them—can now “do business with a growing, passionate community of Bitcoin Cash users” via a new feature that directly accepts Bitcoin BCH, the cryptocurrency with a market capitalization of over $15 billion.

“Adding support for Bitcoin Cash is another important step in our vision for blockchain payments. BitPay merchants can already immediately accept Bitcoin (BTC) from users around the world. By adding functionality for a new payments blockchain like Bitcoin Cash (BCH), we’re expanding the reach and scale of our merchants’ BitPay checkout experiences,” BitPay said in a blog post.

Merchants using the BitPay platform will have the option to pay either with BTC or BCH. Merchants can accept payments for both blockchains and get direct bank deposits the next business day with just a 1% transaction fee, according to BitPay.

BitPay merchants can now receive Bitcoin BCH payments

The announcement comes several weeks after BitPay quietly integrated BCH capability to virtually all of the merchants with whom it has an agreement, including Newegg, Namecheap, and Vultr. At the time, however, the BCH payments were still converted to U.S. dollars or BTC before they were delivered.

The next project in the pipeline is enabling settlements in Bitcoin Cash, which BitPay said will give its merchants “another way to get paid for payments accepted via BitPay.” The payment processor also plans to bring Bitcoin Cash to its mass payouts product, which can be used to pay out vendors, affiliates, developers, and payees around the world.

Since December, BitPay has been processing payments for multiple blockchains, starting with Bitcoin Cash. The decision comes on the heels of a “growing demand” to enable Bitcoin Cash support amid the high transaction fees and network congestion on the BTC chain. BitPay’s open source Copay wallet also promises to make it easier for users to spend and store their Bitcoin Cash alongside BTC, giving them “the freedom to choose—or to use both BCH and BTC.”

BitPay CEO Stephen Pair said told CoinGeek.com in an earlier interview that “offering the same service for the Bitcoin Cash blockchain will make it easier for consumers and businesses to use BCH for important transactions.”

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/bitpay-merchants-can-now-receive-bitcoin-bch-payments/

BitPay and Bithumb partner to deliver international blockchain option for payments between South Korea and US/European businesses

BitPay and Bithumb partner to deliver international blockchain option for payments between South Korea and US/European businesses

Solution Leverages Bitcoin and Bitcoin Cash for Transactions

Singapore, March 14, 2018 – BitPay, the largest global blockchain payments provider, today announced a partnership with Bithumb, one of the world’s largest crypto exchanges. This week at Money 20/20 Asia, BitPay and Bithumb are launching a blockchain based cross border payment solution to help South Korean businesses pay or receive international payments  faster and more economically than traditional bank wires. Bitcoin and Bitcoin Cash payments dramatically reduce the friction, cost, and time of cross-border business to business payments.

Trade between South Korea with Europe and the United States is expected to reach $200 billion this year. This partnership makes an ideal solution for customers who need to send and receive international payments directly and efficiently.

Businesses who select the BitPay solution pay a fee of one percent for this transaction and can receive the cross-border confirmation in one business day. The average bank wire to or from South Korea costs approximately four percent, depending on the foreign exchange rates and each banks’ wire rates, and takes three to five business days.

“BitPay’s business to business solution is our fastest growing product as it’s already in use around the world with global corporations, legal entities, software companies, and real estate sellers,” said Stephen Pair, CEO of BitPay. “Working with Bithumb, one of the largest and most respected exchanges in the world, lets BitPay easily provide this solution to businesses in South Korea.”

Working together, BitPay is to sign up businesses in Europe and the United States who need to pay South Korean businesses. In turn, Bithumb is to sign up the South Korean customers who need to make payments to BitPay merchants in the United States or Europe. BitPay is to process the payments and settle in US Dollars or Euros to the customers bank account, minus the one percent transaction fee in one business day. The process also works in reverse for South Korean businesses requiring payment from businesses in the United States or Europe.

“BitPay’s cross-border business to business payments solution has been used by numerous customers around the world helping to save costs and reduce payment times.  This partnership allows us to focus on South Korean businesses paying or receiving $100,000 – $5 million per invoice where a 1 -2% savings on each invoice can lead to dramatic cost savings,” said Sonny Singh, Chief Commercial Officer of BitPay.

The typical South Korean business that can benefit from this type of cross-border payment are those handling payments between $100,000 to $5 million with Europe or the United States. Businesses must create accounts and pass Know Your Customer checks with Bithumb and BitPay.

For more information in South Korea email partner@bitcash.com. Customers in Europe or the United States should email sales@bitpay.com or visit https://bitpay.com/cross-border.

About Bithumb

Bithumb is one of the largest cryptocurrency exchange in the world, which is based in South Korea. Bithumb is actively involved in various fintech projects beyond cryptocurrency exchange to develop blockchain ecosystem.

For more information on Bithumb, visit www.bithumb.com or email partner@bitcash.com.

About BitPay

The first and most experienced company in bitcoin payments, BitPay builds powerful tools for secure bitcoin payment acceptance, savings, and spending.

The company has offices in North America, Europe, and South America and has raised over $60 million from top investors including Index Ventures, Founders Fund, Aquiline Capital Partners and Sir Richard Branson. BitPay processes payments for industry giants in online commerce, from Microsoft to Newegg.com.

For more information on BitPay and what it’s doing in the world of bitcoin, visit www.bitpay.com or email media@bitpay.com

Media Contacts

BitPay

media@bitpay.com

Bithumb

partner@bitcash.com

Microsoft accepts Bitcoin Cash payments at 0% network costs

Microsoft accepts Bitcoin Cash payments at 0% network costs

A few choice words from computer mogul Bill Gates isn’t going to stop the tech giant he founded from supporting cryptocurrencies like Bitcoin Cash (BCH).

This week, Microsoft quietly began accepting BCH payments alongside legacy Bitcoin (BTC), giving its users another option for topping up their Microsoft.com account balances. The key difference between the two options is that paying with BTC comes with 1.2% network cost, while Bitcoin Cash offers instant confirmation with 0% network fee.

A note in the Microsoft “Redeem Bitcoin” page warns users that there will be “no refunds added to your Microsoft account”:

Microsoft supporting Bitcoin Cash payments is a logical choice for the multinational technology company given that its Microsoft Billing Services has teamed up with payments processor BitPay to handle cryptocurrency-related transactions. Microsoft is among the over 100,000 merchants, along with Newegg, Namecheap and Vultr, that have started accepting payments made in Bitcoin Cash shortly after the payments processor included the popular cryptocurrency in its partner merchants’ accounts.

Currently, BCH payments are still converted to U.S. dollars or BTC before they’re delivered, although BitPay is looking to integrate an option for merchants to receive direct BCH payments in the next couple of weeks.

The tech giant has had a tumultuous relationship with BTC since it started supporting the cryptocurrency back in 2014. In 2016, a note in the Microsoft Store FAQ stated that users “can no longer redeem Bitcoin” into their Microsoft accounts, which the company immediately retracted citing “inaccurate information.” Early this year, reports surfaced that Microsoft again barred—albeit temporarily—its customers from adding BTC funds to their accounts due to the cryptocurrency’s “unstable state.”

BTC’s high transaction fees and network congestion has prompted BitPay to start processing payments on other blockchains like Bitcoin Cash. In an interview with CoinGeek, BitPay CEO Stephen Pair said their goal is to simplify the blockchain payments process for merchants, while also making sure that the retailers are paid fairly.

“We’re continuing to learn from customer feedback and refine the BitPay platform to be even simpler and more seamless for businesses that need blockchain payments. We expect that offering the same service for the Bitcoin Cash blockchain will make it easier for consumers and businesses to use BCH for important transactions,” Pair said.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Over 100

Over 100,000 merchants sign on to accept Bitcoin Cash payments

Bitcoin Cash users, get your wallets ready. More than 100,000 BitPay merchants have made the move to start accepting payments with the popular cryptocurrency. BitPay has been offering the service for legacy Bitcoin (BTC) payments, and automatically rolled out the BCH capability to virtually all of the merchants with whom it has an agreement, including Newegg, Namecheap and Vultr.

It came as a surprise to vendors, some of whom didn’t realize that BCH had been included until they opened their BitPay merchant accounts. While the capability is there, BitPay still has to integrate the option for merchants to receive direct BCH payments, as opposed to having the payments converted to dollars or BTC before being delivered. That option could come in the next couple of weeks.

According to CoinMarketCap, BCH now has a market cap of just over $19.4 billion. Its trading volume is up by more than 10% over Saturday’s figures at the time of writing, and has a value of $1,142. While the fourth largest cryptocurrency has seen a significant drop, as have virtually all coins, from its December high of $4,000, most analysts predict that it could rebound to $3,000 by this summer.

The BCH addition was included through a type of plugin, which was automatically included in the merchants’ accounts. Coinbase launched a similar solution at the beginning of February, but merchants were able to choose which cryptocurrency they would accept. The possible choices included BTC, Bitcoin Cash, Ethereum and Litecoin.

With BitPay now offering support for both BTC and Bitcoin Cash, it puts the two coins on virtually an even playing field. It should prove to be an interesting race to see which one, if either, comes out ahead. As cryptocurrencies in general make huge strides toward acceptance on a global level, 2018 is shaping up to be very promising for the digital coins in the commerce sector.

BitPay has been around since 2011, just a couple of years after the launch BTC. It is the largest cryptocurrency payment processor in the world and serves companies on six continents. Microsoft, Neteller, Shopify and Zynga are just some of the merchants that have already begun working with the platform. BitPay also offers a debit card that can be loaded with dollars using a cryptocurrency wallet. The card works anywhere Visa debit cards are accepted.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Bitcoin Cash gains support for its ecosystem

Bitcoin Cash gains support for its ecosystem

Bitcoin Cash (BCH) came to be well after the birth of Bitcoin, about nine years after. However, the BCH blockchain is already 8,037 blocks ahead of the number one coin. The chain operates at just 11.8% of the difficulty associated with BTC, and is 4.8% more profitable in mining operations. At only six months old, BCH’s value has grown at a rapid rate, and is currently worth $1,292, at the time of writing. Things don’t appear to be slowing down for Bitcoin Cash, and the digital coin can thank various sources for its growth.

This week, BCH has gotten some infrastructure help from several directions. India’s Unocoin exchange has launched a multiple crypto asset exchange using BCH. Bread, a popular cryptocurrency wallet, has announced that it will soon add full support for the cryptocurrency. Communications medium Telegram introduced the beta version of a BCH tipping bot, tipmebch. The platform allows users on Telegram to tip BCH to other users through the app. It is currently only in an experimental phase, and needs more tweaking and development before it can be launched mainstream.

Paybis will soon allow the purchase of BCH through debit or credit cards. Daily limits of $20,000 and monthly limits of $50,000 will be available. Once the green light is given, users will be able to instantaneously receive payouts through the platform. Paybis currently supports BTC and Litecoin, and is available in the U.S., Asia, Europe, South America and Africa. Lastly, BitPay is reported to be close to implementing BCH invoices, opening the doors to a growing number of merchants and services that currently accept payments by cryptocurrency.

As BCH continues its rebound, more infrastructure will be added. To help keep the momentum going and to explore future developments, two conferences will be held this spring that focus on the BCH ecosystem. One is hosted by CoinGeek, and the other by Bitcoin Unlimited.

Bitcoin Cash dipped to $760 on February 6, before recovering during a cryptocurrency-wide rally just a few days ago. The coin’s path to resistance has swung upward, indicating the possibility of the cryptocurrency regaining its previous high of $1,650. Optimism is high and it could be possible to see the coin reach over the $2,000 mark within the next couple of months.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
eBay drops PayPal for European rival Adyen

eBay drops PayPal for European rival Adyen

Early this year, e-commerce corporation eBay named payment service company Adyen as its primary payments processor. As a partner of BitPay, Adyen will pave the way for cryptocurrency payments on eBay’s globally-recognized platform.

This signal boost for cryptocurrencies like Bitcoin Cash in a global e-commerce platform such as eBay comes at the height of cryptocurrency’s popularity and internet-fueled hype. Scott Cutler, eBay’s SVP for Americas, said the e-commerce site is “not quite there yet” when it comes to cryptocurrency adoption, but the management is “seriously considering it as these cryptocurrencies become more mainstream.”

“This is a trend that everybody is talking about, but sadly, at eBay, we don’t currently accept Bitcoin [BTC] as a form of payment,” he said.

eBay’s partnership with Adyen means the end of PayPal as a payment method on e-commerce website. PayPal has been a wholly owned subsidiary of eBay from 2002 until 2014 when it was divested from eBay’s portfolio of acquisition before officially becoming an independent company in 2015. Adyen, which is based in Amsterdam, specializes in facilitating mobile-first e-commerce and point-of-sale payments for businesses. The company is listed in Forbes’ “Fintech 50 2018: The Future of Payments,” a list of leading companies which the publisher claims are helping evolve the way businesses accept payments.

In the digital age, e-commerce has matured to a point of stability and strength. Transitioning to bCommerce is the next logical step for online merchants, and Bitcoin Cash will help ease this transition with lower processing fees and instant payment confirmations, all performed on the blockchain.

BitPay says Adyen will open payments through cryptocurrencies like Bitcoin Cash to more merchants and help spread its adoption for e-commerce. Currently, Adyen supports over 180 currencies and 250 payment methods. A tweet from @Bitcoin welcoming the announcements received appreciative tips served by @tipprbot, a Bitcoin Cash bot that automates tips from BCH users on Twitter and Reddit.

In an interview with Bloomberg, PayPal CFO John Rainey said eBay’s move was “completely anticipated,” because it was a “natural evolution” of their partnership. According to Rainey, eBay represents 13% of their payments volume. It’s interesting to note that Max Levchin, PayPal’s co-founder, is positive about cryptocurrencies, saying “It’s a brilliant mathematical idea, fantastic technology, an interesting commodity to speculate on.”

eBay’s deal with Adyen will be fully implemented after the e-commerce site’s agreement with PayPal expires in 2020.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
BitPay CEO: Refined platform allows ‘simpler

BitPay CEO: Refined platform allows ‘simpler, more seamless’ Bitcoin Cash use

Despite steadily gaining mainstream popularity, cryptocurrencies like Bitcoin Cash are still a long way from mainstream acceptability. Payments processor BitPay is working towards solving that problem, first with legacy Bitcoin (BTC) and now with Bitcoin Cash (BCH).

In an interview with CoinGeek.com, BitPay CEO Stephen Pair said there are two main obstacles that hinder blockchain payments acceptance: volatility risk and technical integration. What BitPay does is it simplifies the process for merchants, while also making sure that the retailers are paid fairly.

“Our platform makes it simple for merchants to receive payments from [BTC] (and soon Bitcoin Cash) wallets with minimal integration work or technical knowledge about Bitcoin. And our merchants get paid exactly what they charge to their bank accounts in local currency, minus a 1% processing fee,” Pair said.

As more consumers start going to the web for most of their shopping, this has become a wakeup call for merchants to find fast, reliable, and low-fee payment systems that will meet the demands of their customers. There is a “real demand” for cryptocurrency payment methods, according to Pair. And not just for BTC.

Since December, BitPay has been processing payments for multiple blockchains, starting with Bitcoin Cash. The decision comes on the heels of a “growing demand” to enable Bitcoin Cash support amid the high transaction fees and network congestion on the BTC chain. BitPay’s open source Copay wallet also promises to make it easier for users to spend and store their Bitcoin Cash alongside BTC, giving them “the freedom to choose—or to use both BCH and BTC.”

“We’re continuing to learn from customer feedback and refine the BitPay platform to be even simpler and more seamless for businesses that need blockchain payments. We expect that offering the same service for the Bitcoin Cash blockchain will make it easier for consumers and businesses to use BCH for important transactions,” Pair said.

Several weeks ago, the company rolled out updated plugins that it said would open up new BitPay features to merchants, including Bitcoin Cash support. The plugins are fully compatible with the latest WordPress and WooCommerce software, as well as with the 7.4 version of the WHMCS marketplace and the latest version of PrestaShop.

“Our updated BitPay plugins will let WooCommerce, PrestaShop, and WHMCS merchant users accept Bitcoin Cash when we launch Bitcoin Cash support on BitPay invoices. These plugins have already brought Bitcoin payments to many smaller and medium-size businesses. Soon those businesses will be able to engage Bitcoin Cash users as well,” Pair said.

BitPay jacks up invoice minimum to $100 amid rising BTC fees

BitPay announced on Friday that it has raised the minimum Bitcoin Core (BTC)  transaction amount for eCommerce merchants to $100.

In a blog post, the cryptocurrency payments processor blamed the “record network congestion and record-high [BTC] miner fees,” which now come at an average of more than $30 per transaction, for the hike.

“With current [BTC] network conditions, transactions sent without large miner fees are at high risk of significant payment delays or payment failures. This has meant that BTC payments under $100 are quickly becoming impractical for users to send and for BitPay to process,” BitPay said in a statement.

The change is effective immediately, and should come as a blow to merchants who frequently process transactions below $100. According to BitPay, the BitPay API will automatically return an error message to customers who will attempt to submit an order smaller than $100 in value.

“No payment will be possible,” the company said. “If the customer wishes to pay for an item less than $100, they will need to use an alternative payment method.”

It’s still possible that the invoice minimum will be lowered. According to BitPay, “if the [BTC] network’s capacity increases or miner fees levels go down,” they will “evaluate” their next step.

Fat chance of that happening 

Seeing that the legacy chain’s transaction fees aren’t going down any time soon, there’s a slim chance of that happening. As of Dec. 22, the average transaction fee for BTC is at $55.16, according to BitInfoCharts data. In comparison, the Bitcoin Cash (BCH) transaction fee averages at $0.31.

Unless the legacy chain fixes their problems, more merchants are bound to opt out of accepting BTC for purchases, or like BitPay, raise the minimum invoice amount.

Bitcoin Cash to the rescue 

BitPay is working to add support for a BCH payment option on all Bitpay invoices. This will allow merchants to accept BCH for transactions as little as $1 and not worry about high fees.

Several weeks ago, the Bitcoin payments solutions provider announced that it will start accepting Bitcoin Cash (BCH), which “allows for payments with significantly faster network confirmations and significantly lower miner fee costs.”

“We are also working quickly to add support for a Bitcoin Cash (BCH) payment option on all BitPay invoices. Bitcoin Cash is a modified fork of Bitcoin which will allow your customers to send payments with significantly lower bitcoin miner fees,” according to the company.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.