About a year ago, Bitpay, a payment processor that deals exclusively with Bitcoin accepted it’s 1,000th merchant. Today it has over 10,000 Bitcoin accepting merchants. This is testament to the gaining popularity of the decentralized digital crypto-currency.
Bitpay differentiates itself from other payment processors by dealing with Bitcoin in three key areas:
- Removes any cross-boarder barriers that other payment methods would either have associated fees with or not be able to accomodate
- Lower fees (monthly, international, transaction, percentage…etc. for now)
- No chargebacks and potentially less fraud
As Bitpay continues to process more transactions and gain better traction in this niche market it’s very possible that this could be one of the fastest growing entities in the payments landscape.
Where do you see the advantages in Bitpay?