Embarking on any kind of cryptocurrency endeavor requires planning and a clear understanding of what the investor wants to do. There is plenty of ways to make a profit and benefit from the plan, but some consumers forget that they still need to preserve the security of their funds, no matter what format they are in. While many companies offer a certain level of security or even anonymity, BitPay has a partnership with some of the projects to help protect the user’s investments and current balance.
What Is BitPay?
BitPay came into the industry in 2011, which is early in the origination of the bitcoin and the cryptocurrency industry. The goal of the company was to make it easier for consumers to work with businesses to integrate their own crypto-trading, despite the early inclusion of this program. They have the greatest span of cryptocurrency in the world, and it has a major presence in six continents. Originally, their only goal was to help with payment processing, though they have continued to work on their “open source platform” to expand their reach.
About The BitPay & CoPay Wallet Wallet
The BitPay wallet allows consumers to store all the bitcoins they possess in one safe area. The BitPay app gives access to the wallet, though the company cannot actually access the funds independently. To preserve the security and safety of the crypto-transactions, consumers can choose to have multiple devices verify permission for the transaction to take place.
Also, by taking part with the wallet, and with BitPay, consumers will be sent a debit card that they can use for payments, trading, and other investments. They can even be used at ATMs for cash withdrawals. This card immediately converts the bitcoins into USD at POS transactions. The card is supported by the VISA platform, and consumers can use it wherever VISA is accepted. It essentially acts as a prepaid card.
Pricing For BitPay
If consumers want the BitPay services, they have a few different options to choose from, depending on their needs. The first option is the Starter Package, which is for consumers that are relatively new to the industry. This service is completely free, with up to 30 transactions handled each month. The maximum daily limit is $1,000. For each transaction over the limit, consumers will be charged a 1% service fee. This package has the minimum benefits, including:
- Payment and refund management
- Payment tools
- Shopping card plug-ins
- API, Libraries, & SDKs
- CSV Ledger Download
- Hosted Solutions
- Weekly USD settlements and daily Bitcoin settlements
The second option is for Business. There is a 1% transaction fee, and the platform supports multi-user access, along with QuickBooks and Priority Support. The tools featured are meant to help business owners to preserve and protect the transactions. Unlike the first service, this option allows for unlimited transaction.
The third and final product is the Enterprise Plan. It is specifically meant for helping businesses that process over $10 million in any given month.
The website does not include some necessary information for consumers to make their decision, so it is important that the user reaches out to the customer service team with any inquiries. The customer service team can be contacted through help.bitpay.com/requestHelp.
BitPay probably has the greatest understanding of any of the different ways that the bitcoin can be used, due to their longevity in the industry. The different safety features of the platform helps to keep bitcoins protected from third-party users, and the flexibility of using the prepaid card provides an easy way to spend and profit from the coins.