What is Bitpay?
When Bitcoin beat the market as a digital coin, very few people believed in its viability. Though, those who saw opportunities moved into the sector to fill the gaps created.
Among the believers were the founders of Bitpay, a Bitcoin payment processing platform for merchants. In 2011, Bitpay worked to offer its services worldwide and now ranks among the best Bitcoin payment processing platforms. Besides that, BitPay is including the leading platform for allowing businesses to start accepting Bitcoin as a form of payment.
As the leading Bitcoin payment processing platform, Bitpay's products are designed to meet its individual and business customers' needs. Bitpay has categorized its products into two: for the business community, while the other products are for the rest of the customers.
Bitpay products for people:
Bitpay card: For people, Bitpay has two effects, its card, and its wallet. Your customers can quickly convert their digital currencies into fiat currency and pay for goods or services during your card purchases. The card is simple to use and can further funnel funds from your wallet or app to fiat currency in seconds, allowing you to pay your bills with ease.
Bitpay Wallet: On the other hand, cryptocurrency enthusiasts have wallets at their disposal to safely store their coins and easily access them. However, that's not all; by using the Bitpays wallet, one can take advantage of all the security measures to ensure that their funds are safe. For security reasons, the wallet comes with a multi-sig security measure. Similarly, users can strengthen the security measure of their wallets by using biometric data or individual pins. The wallet also appears with some other uses. Through it, users receive push notifications that allow them to control their expenses.
Bitpays products for business:
For the selling community, Bitpay has three goods available to them: online payment services, billing, and storage as its primary stocks.
Online payments: The online payment product is all concerning initiating the approval of Bitcoin and Bitcoin Cash through the website.
Billing: On the other hand, the invoicing product allows business owners to send invoices to their clients by email.
Bitpay in store: When it arrives in exchanging products on the web, Bitpay tries to allow retailers to accept Bitcoin or Bitcoin Cash as a payment form in their online stores.
How does the Bitpay payment app work?
The customer scans the barcode through their phone to pay the charge. After that, Bitpay continues to convert the payment from crypto to fiat and credits the store's bank account on the next business day. With that, Bitpay has you covered when it comes to accepting Bitcoin in person.
Through the payment app, multiple devices can be configured as POS devices to allow retailers to receive cash in character and cryptocurrency. However, users profit from the application as it is not affected by the volatility of cryptocurrency prices. They also enjoy a flat rate of 1% commission.
Bitpay is doing everything possible to ensure that its services are available worldwide. For that, it has partnered with many other companies.