BitPay Customers Complain About The Bitcoin Payment Services Offered By The Company
- BitPay users write about their complaints to the company.
- Users consider the fees paid for a Bitcoin transaction through BitPay are extremely high.
A LinkedIn user has released a complaint about BitPay and how the company has not been offering the services it used to. As the user said, when he starts a relationship with the company, he expects them to deliver the quality he has always received from them. However, the company has taken a step into another direction. BitPay is one of the most known and popular Bitcoin and Bitcoin Cash payment processors in the world.
Chris Butler Experiences Issues With BitPay
One of the individuals that have been experiencing issues with BitPay is Chris Butler, the co-founder and fellow member of the Alliance of Blockchain professionals. The expert decided to show that he was disappointed with the company and released a
He said that the company ruined “a good thing,” even when users were happy about the services provided.
Butler wrote to BitPay:
“I’m breaking up with you today. In fact, when you return to our shared wallet interface, you will find that I have already moved all my things and I am gone.”
In a recent article, Butler mentioned that there were different annoyances and bugs that affected his experience with BitPay, but he specifically pointed at two incidents that ended up in the breakup letter that he wrote a short time ago.
The first issue was related to an e-mail that the user received in which BitPay informed customers on February 27 that they will be performing a “system conversion” on March 8. During that period of time, ATM withdrawals, POS cash back and also OTC cash advances were unavailable.
However, BitPay continues to be in “conversion period” since the aforementioned services remain unavailable. The firm is currently saying that they do not have any more details at this time regarding when the ATM service will be restored.
However, Butler experienced other issues as well. On Thursday he said that they “almost gave” him a “heart attack.” He was using a BTM machine because he was not able to pull cash out of ATMs. His BitPay application was working buggy and he decided to send the amount he wanted to sell to his wife’s BTM.
He scanned the QR, the transaction was complete but the BTC didn’t show in her account. The transaction was also not being shown on his dashboard. Indeed, his dashboard was showing $15k less than what it should have been.
He mentioned that he didn’t know whether he was hacked or if BitPay sent the BTC to the wrong address and the wrong amount. Everything ended up being a bug, which is just one of the many different issues that the application has.
Payments Might Be Faster With SegWit, Lightning Network
This is not the only case of users complaining about BitPay and the services that the company is offering. Indeed, a Reddit user shared his experience after trying to purchase a domain name using Namecheap. When he tries to pay with Bitcoin, the transaction fee is very high compared with the Bitcoin Cash (BCH) proposed fee.
So he decided to “correct” what it was written there. He wrote that Bitcoin network fees would be less if the company would use Segregated Witness (SegWit) or the Lightning Network (LN), which are two different scalability improvements that allow Bitcoin to offer lower fees and faster payments.
Moreover, he attacked Bitcoin Cash by saying that the digital currency is centralized, it has poor liquidity and it is mutable, but it has just $0.0001 fees.
It is worth mentioning that the user wanted to pay $10 but the fees were $2.19, which is a large percentage of the whole payment. At the same time, this fee is much larger than the real amount needed to send the transaction.
Some users suggested that BitPay is trying to make Bitcoin Cash look like a better option so send payments compared to Bitcoin. Additionally, there is also a possibility that the company is charging additional fees on the transaction that the user sends.