Major Crypto Payment Firm Bitpay Allows Payment via Bitcoin Wallet

Major Crypto Payment Firm Bitpay Allows Payment via Bitcoin Wallet

Leading crypto payment firm BitPay will soon allow its customers to pay their invoices through any Bitcoin wallet or platform, the company said today.

CEO Stephen Pair said the decision was motivated by merchant feedback, adding:

“BitPay’s customers want to support all the Bitcoin wallets, just like they want to support all cryptocurrencies for payments. The company has decided to re-enable support for all wallets, which is referred to as plain vanilla peer-to-peer transactions.”

Upon implementing the feature introduced by crypto payment firm BitPay, merchants can choose any wallet to receive their payments, while consumers can use any wallet to receive their commodities.

The CEO indicated that merchants can benefit from P2P transactions without any required technical implementation. He said:

“We are going to automate the whole process for merchants, since we already have experience doing this already. It’s very important for merchants to support all Bitcoin wallets, as this will greatly expand their potential to grow sales and acquire new customers.”

When BTC hit an all-time high in 2017, the company delayed customer payments with nearly 9 percent. Thus, some customer issues were reported, which led BitPay to implement the “BIP70” payment protocol.

Pair said:

“At times, Bitcoin has been a victim of its own success. As adoption exploded in 2017 and 2018, network congestion and high transaction fees brought with them some tough decisions, like the one to implement Payment Protocol for all Bitcoin payments.”

 Cryptolydian reported that the U.S. Marshals Service will auction more than $37 million in Bitcoin seized during legal investigations.

The agency revealed in a press release Monday that on Feb. 18 the Marshals would sell about 4,040 Bitcoin worth $37.7 million for registered bidders. Bidders are required to register by 12 Feb.

Some other auctions have been held in the years, including more coins confiscated during the U.S. government’s investigation into the now-defunct underground marketplace Silk Road.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.