Popular Crypto Payment Processor BitPay To Add Support For Ethereum (ETH) Soon

BitPay, one of the main crypto payment providers in the world now, has recently announced that it would start to support Ethereum-based payments. Ethereum (ETH) is the second-largest token by market cap, which makes this a huge upgrade in the services.

According to the press release, all companies that are already using the services will be free to use Ethereum without having to do anything.

The upgrade will be rolled out automatically as soon as it is ready. Unfortunately, no actual date for the launch was given on the press release. It will also be possible to store the new token on the company’s wallet, which is set to be upgraded to hold it.

BitPay was originally launched back in 2011 and it offered the users the option to pay with Bitcoin (BTC) and then Bitcoin Cash (BCH) after the hard fork. So far, the company’s product has been used to pay over $3 million USD since its creation.

Vitalik Buterin, the co-founder and public face of the Ethereum network, has commented on the update, affirming that it is very exciting to see such a leading company integrating ETH with its payment system. This, he believes, will open a whole new channel for innovation.

In related news, BitPay has been working to improve the security of its systems. The company has just introduced new verification methods this year and will now start to require more information about the users before they are able to use the product. They will need to give their passports of social security numbers before they create an account, for instance.

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Gabriel Machadohttps://bitcoinexchangeguide.com/
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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