BitPay now Accept Ethereum for Payments However, the Firm is under Fire

The payment solution provider BitPay expanded its umbrella and added Ethereum, the top cryptocurrency by market volume after Bitcoin. It was unveiled in a press release on Monday spreading out the voice about the addition of new cryptocurrency for the merchants.

Integration of Ethereum with BitPay

BitPay came into existence in 2011 with a solution for merchants to pay through digital currency as well as traditional fiat currencies. It is now actively working in almost 200 countries across the globe.

Vitalik Buterin, the co-founder and CEO of Ethereum network expressed his viewpoint on this new integration:

This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real-world use cases for cryptocurrencies.

According to the statement given by Stephen Pair, the CEO of BitPay:

As one of the largest cryptocurrencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.

The firm has already performed operations for digital assets such as Paxos Standard Token (PAX), USD Coin (USDC) and Gemini Dollar (GUSD).

📰  “Mixing is Not a Crime, But an Essential Service” Users of Bitcoin Mixers Clap Back Against Allegations

Criticism is Constantly Growing

Tom Grundy, the journalist, and representative of Hong Kong Free Press (HKFP) had used very harsh words for BitPay. Tom alleged the company that donation of bitcoin of worth $14,817 has been temporarily suspended without any solid reason.

Never use BitPay, folks. Truly the worst experience you can imagine – poor reputation, abysmal communication, horrible customer service, *very* high fees. Almost any alternative will be better. I’ve sent you & Steve a LinkedIn message. Am ready to go to war with publicity and legal action – sort it out guys!

Similarly, WhalePanda, a prominent crypto maximalist claimed that the BitPay is going under desperation since they are not even supporting BTC payments and KYC is required for bulky transactions.


📰  New Research Reveals - Data of Over 80K Credit Cards Was Put Up for Sale for Crypto on Dark Web

Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button