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.
— BitPay (@BitPay) September 16, 2019
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).
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.
Desperation. They must be going through a really hard time.. which is understandable since they don't even support normal Bitcoin payments and require KYC (and of course they supported all attacks on Bitcoin in the past)
Stay away from Bitpay.https://t.co/GPk25kwAwg
— WhalePanda (@WhalePanda) September 16, 2019