More controversially, BitPay was one of the companies that supported the so-called New York Agreement in 2017, which was an attempt to implement a hard-forking increase to Bitcoin’s block size limit to go along with the Segregated Witness ( SegWit) upgrade. In 2014, BitPay gained some mainstream notoriety through their sponsorship of an NCAA (the National Collegiate Athletic Association) college football bowl game however, the company decided to promote Bitcoin rather than their company specifically through the deal. For example, in addition to their merchant payment processing offerings, BitPay also has a Bitcoin debit card, a Bitcoin wallet, and a number of open source tools for developers. Over the years, BitPay has expanded into other products and services that help enable better utility for BTC and other cryptocurrencies as mediums of exchange. Currently, the company processes payments made with BTC, bitcoin cash (BCH), ethereum (ETH), XRP, and three different stablecoins. The company has processed more than USD 2.8 billion in cryptocurrency payments over the course of its entire history. Many of the largest companies in the world that accept bitcoin payments, such as Microsoft and Newegg, do so via BitPay. In fact, the company was launched less than two years after the launch of the Bitcoin network itself.īitPay says its main mission is to transform the way individuals and businesses around the world receive payments through the use of blockchain technology.

Incredibly, BitPay was founded in the US all the way back in 2011 by Stephen Pair and Tony Gallipi. However, they approach this problem from two different points of view.

Source: Adobe/MateuszīitPay and BTCPay Server are two of the most well-known options on the market in terms of enabling cryptocurrency payment acceptance for your business. Whether you believe in the ideas behind Bitcoin from a philosophical perspective or you just want to avoid chargebacks, there are plenty of benefits to be had from allowing your customers to pay for your goods or services via a cryptocurrency network. Although most of the activity around bitcoin (BTC) and other cryptocurrencies currently has more to do with price speculation than actual commerce, there are still plenty of reasons as to why accepting bitcoin payments makes sense for some businesses.

Bitpay api