Seven Years Good Luck for BitPay
In 2011, the world was blessed with BitPay, the most efficient payment processor for cryptocurrency users. Together with Bitcoin, BitPay has grown up into a technologically sophisticated, yet simple to use platform for making payments with crypto. 2018 marks seven long years for one of cryptocurrencies longest running platforms.
Bitpay’s official birthday is sometimes this month in July of 2018. The long time running payment processor made exchanging Bitcoin for goods & services easy back in the day. Now, the merchant processor has become the most widely used platform in the world, spanning across every continent except Antarctica. It’s an impressive system, considering how much Bitcoin has grown, with people across six continents using the platform to make payments. No less than a few hundred thousand individuals use BitPay and Bitcoin for their merchant needs.
Bitcoin must be grateful for BitpPay, considering that without the processor it’s unlikely the cryptocurrency king would be what it is today. Together, they’ve changed the way the world views currency possibilities. Cross-border, international payments can now be made with faster transaction times to countries around the world. Thanks to Bitcoin and BitPay, the cost of making transactions is more affordable, safer, easier to track and being improved every day. Users can even go on the blockchain to see exactly who is making payments, giving the system a type of transparency not seen with traditional fiat currency.
Bitcoin’s largest payment processor isn’t just for individuals either, business enterprises have adopted the payment processor for it’s highly efficient payment solutions which can be used for cheaper rates on a global scale. The platform is more desirable that of traditional merchant services operating with fiat.
BitPay uses its own wallet, is continually developing new applications plus technology to move the industry forward. More and more people are adopting cryptocurrency, helping the company expand into an even larger entity. BitPay payment processor handles hundreds of millions of transactions each month, meaning billions each year – with record growth occurring – BitPay is growing year by year, still being one of the most used networks for cryptocurrency purposes.
Along with the hundreds of thousands of people is the same amount of businesses using the system. Their wallet is reliable and trusted. Starting in 2011 has greatly influenced the success of BitPay, not only because of the commitment the payment system has made, but also because the amount of time the company has had to improve their payment solutions.
It’s one of the only cryptocurrency companies that has banks supporting it, credit card companies and other major financial institutions. Revenues for the payment processor have been known to improve by as much as 700% in a given year, as was seen in 2017. Things are still just getting started with Bitcoin, considering the landslide of mainstream adoption cryptocurrencies have seen in the last couple years.
Do you use BitPay? If so, how has it worked for you? And if not, why? Leave your answers in the comment section below.