Bitcoin Cash (BCH) Settlement Services Added to BitPay Crypto Payment Provider
The Atlanta-based payment platform Bitpay has recently announced that its merchants can now receive settlements in Bitcoin Cash (BCH). the vendors will be able to accept these tokens as payment and they will also have the option to keep all the BCH or to split the funds in a fraction of fiat currency and another of cryptocurrency as well.
Since its foundation in 2011, Bitpay has passed through a lot of changes. It was just recently that the firm decided that it should accept Bitcoin Cash for merchant invoices, for instance. The company has always allowed its merchants to adopt BTC, but not BCH, so this is good news for the vendors and for the BCH community as well.
The merchants will have the option to get the money in token or fiat currency if they want to avoid the volatility of prices. They will also be able to split payments if they wish to.
According to Bitpay, most businesses still use only their national currencies but this is starting to change as some are also starting on the digital money, too. Because of this, the company was very excited to announce Bitcoin Cash as a new settlement option.
Bitpay Is Interested In Making Blockchain Payments Easier
Part of the reason why Bitcoin Cash started to be accepted was that the Bitcoin core (BTC) had several intense scaling issues. Because of this, some fees rose above the incredible value of $50 USD per transaction in December. This has made many merchants decide that it was not a good idea to accept BTC anymore and started to accept BCH instead.
The fees of the Bitcoin Cash network are very affordable and most of them do not cost a single whole cent of a dollar. This gives a strong incentive for the merchants to switch from BTC to BCH and the company helped them by giving them a choice.
To get settlements in BCH, the users must register with the firm and find their way to the Bitpay merchant services dashboard. There, they will have to select the Settings option and then Settlements, in which they can switch to BCH and choose the address to receive the money. They can also customize how much they want to receive in BCH and how much in cash.
On Reddit, several users seemed to be pleased by this new option. The firm Bitpay has affirmed that they will continue to make the platform the best they can and accept the most popular and useful token options.