Crypto Payment Portal Coinify Adds Bitcoin SV (BSV) Token To Their Portfolio
Leading virtual currency payment provider, Coinify will now enable online merchants to accept Bitcoin SV. They will enable the merchants to have the options of accepting BSV to their wallets or in the form of local currency.
— Coinify (@coinify) January 21, 2019
Coinify is an established global virtual currency player actively offering solutions in Europe, Asia, and other regions. The company was incorporated in 2014 and is backed by SEB Venture Capital, Nordic Eye Venture Capital, SEED Capital Denmark, and Accelerace. They deliver a trading platform alongside white label solutions that allow businesses and individuals to adopt financial innovation. Coinify’s services include individual currency trading, white-label partner solutions, payment processing services, and more.
Coinify's CEO and co-founder, Mark Højgaard stated:
“Virtual currencies need to have widespread merchant adoption to really ignite on a mainstream level, and we believe that the simplicity and flexibility of our payment product range make this possible. Adding BSV as a virtual currency helps us ensure we have the most comprehensive range of options for both merchant and customer.”
In the light of the news, Calvin Ayre, one of the biggest proponent of the BSV added:
“I am ordering my team to stop using BitPay and to switch everything to coinify!”
However, some called out the hypocrisy of middlemen in this situation. Cryptos were supposed to eliminate middlemen, however, services like BitPay and Coinify are nothing but intermediaries. Especially for projects like BSV, who pride themselves to be “the only cryptocurrency that is based on original Satoshi’s whitepaper,” it looks pretty deceptive.
Regarding this a Twitter user commented:
“Wait, wait, wait. I thought cryptos eliminated fee-charging middlemen? Bitpay and Coinify charge such high fees they make banks and credit card companies look like saints. Crypto is a huge joke.”