Security vulnerabilities-assessing firm, HackerOne has recently announced that it has integrated BitPay – allowing the former to hit another milestone: first-ever bug bounty platform to support cryptocurrencies as a payment method.
Since the integration, it has been confirmed that cryptocurrencies like Bitcoin [BTC] and Bitcoin Cash [BCH] will now be accepted from HackerOne’s clients, which include the likes of retailers, food and beverage providers and even the U.S Department of Defense.
Ning Want, who serves as HackerOne’s COO and CTO, shared the details in regard to the integration and described it as being necessary to support instant payments. In particular, he said that many of the firm’s customers “have come to rely on making payments in cryptocurrency as it is quickly becoming a popular payment method,” adding that his team always works towards doing what’s right for their customers.
What does the addition of BitPay mean for HackerOne? Turns out, there are far too many benefits in which the latter can enjoy. First, the latter can support international payments in an instant manner. Second, the fees tied to said transactions are as little as one percent, which is miniscule compared to banks five percent and more (depending on the hidden fees attached). Last and most crucial, confirmations will be finalized within 24 hours, whereas banks have a wait time of three to five business days.
In response to the new support BitPay has gained, CCO, Sonny Singh trusts that “HackerOne is now able to safely accept payments from its clients in Asia, Africa and Latin America that would have been nearly impossible before.” Singh also described the firm as having a “great reputation” for the services it provides, given its immense focus on minimizing fraud risk to as little as possible. He also noted that the addition of cryptocurrencies is another action that is surely to boost their reputation.