Since the release of Bitcoin in 2009, and subsequently with the emergence of the rest of cryptocurrencies, one of the main criticisms that have been made to the same, is the difficulty of acquiring goods and services making use of them, that is, in the end, the main use of the money. BitPay came to change that in the year 2011. Through an innovative system that allowed him to serve as an intermediary between users seeking to make purchases with Bitcoins, and companies wanting to offer their products to this potential market, BitPay quickly became a benchmark for the transactions with cryptocurrencies. Thanks to this, today there are thousands of merchants globally that accept Bitcoins through BitPay. The method of the company is simple, the user inserts a card loaded with Bitcoins in the place where you will make the purchase, you will automatically deducted, at market price, the BTC needed to cover the cost in fiat money of the product, and BitPay transfers this amount to the account of the company. Today, BitPay operates in more than 200 countries around the world, allowing you to use Bitcoin and Bitcoin Cash to carry out your purchases. And now, the american company has announced that it will begin to accept Ethereum on its platform, opening the doors to the use of the second criptomoneda in the world by market capitalization. “It is exciting to see BitPay leading the way in that Ethereum is going to integrate in the payment systems world. This really opens up a new world of possibilities for the ecosystem of Ethereum, and together we can continue to be a leader in innovation for the use of the cryptocurrencies in real-life cases”, commented the co-founder of Ethereum, Vitalik Buterin. Also, the CEO of BitPay, Stephen Pair, stated that Ethereum was the next logical step in the expansion process of BitPay, due to the size of its market, being used by hundreds of users and companies all over the world. This would coincide with statements sent to CoinDesk for the company: “BitPay regularly evaluates Blockchains, and cryptocurrencies to maintain the company’s objective to make it easy to send and receive payments for goods and services globally. We chose to Ethereum because of his strong support for real-world applications and its wide adoption.” Therefore, we can expect that BitPay will continue to expand in the future, incorporating new features and cryptocurrencies to its platform, which, at the end of the day, it is beneficial for all users that are part of the crypto world. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.
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