During the present October 10, Alipay has declared that it will not permit operations with any type of cryptocurrencies, including to Bitcoin, Ethereum and others. Certainly, this stance is interesting, this due to the reasons which have led to the platform to make such statements. In addition, it is necessary to know more about this fact, because it could affect negatively to many traders, investors and the community crypto in general.
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What is Alipay?
Alibaba is one of the companies that have higher profitability, this is part of the creations of Jack Ma, CEO of Alibaba Group, which includes Aliexpress. As is well known, Alibaba is a digital platform for e-commerce; is now available in many countries worldwide and has an extensive amount of users. Now, Alipay is the payment method designed for the platform, so that all the related users with Alibaba and Aliexpress, what used. However, Alipay is far more complex than it appears, since it offers the possibility to make payments, to the platforms already mentioned. In this sense, among the other features that it offers it is possible to find the following: requests for a taxi.Check the itineraries of travel.Make a payment for services, such as light, water or others.Pay for goods and/or services in certain sites.Make shopping on the web platforms.Other. In a nutshell, Alipay is a kind of PayPal asia, which facilitates the day-to-day of many people.
The comments of Alipay about the cryptocurrencies
It is not a secret that Alipay is a payment method widely used and one of the most important qualities is that its safety regulations are really strict. The platform sees itself as anticripto, and therefore, their representatives have decided that they will not allow transactions that relate in any way to the cryptocurrencies. Therefore, be devoted to monitor in detail the operations carried out. In this sense, the exact statements of Alipay were the following:
“If you identify any transaction related to BTC or other criptomoneda, Alipay will immediately stop payment services relevant”.
Why did it happen this situation?
The fact that Alipay has taken a stance as radical with respect to operations related to cryptocurrencies, has been strong for more than one. It is for this reason that, many would wonder what was the reason that led to this situation; therefore, it is important to know that, this event has a great relationship with the statements of Binance with respect to Alipay. In this sense, was the platform of exchange of cryptocurrencies who declared last October 09, accepting payments through Alipay, as well as WeChat. This way, your users could have more options when to conduct their operations within Binance. These statements were given through Twitter, in response to a reference made by a follower of asian origin. And in consequence of this, the platform Alipay gave their statements.
How they affect the decisions of Alipay in the market, crypto?
Certainly, the facts directly affect the negotiation of cryptocurrencies, because you’re eliminating a payment method used by many people. However, a positive aspect between all of this is that, Binance accepts other means of payment, so this may be a new opportunity to start experimenting with other platforms. In this sense, among the payment options for operate on the platform of Binance, is the payment by means of bank account, as well as for the messaging app (native to China), and WeChat.
What can you expect from all this?
Despite the fact that the possibility of paying with Alipay in Binance, it was a story that really encouraging, this is an actually complicated. This is all due to that, the payment platform has vowed to give a larger follow-up all transactions, which may relate to the acquisition or sale of cryptocurrencies. It is for this reason that, the only thing you can expect from this situation is that Binance assign new and better payment options. In this way, users will be able to access the services of Binance with more ease; because it is unlikely that Alipay will change its stance. The following two tabs change content below. I am a young man from Venezuela 18 years, lover of technology, innovation, and economic events that govern the world. One of my passions are cryptocurrencies.