Topic: Million users BTC.com will be on the billion-dollar market Bitpay (Read 167 times)
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October 01, 2018, 02:19:41 PM
I've never met anyone who uses BTC.com wallet, and am pretty sure those 1 million users who need to use Bitpay would have already had a BIP70-compliant wallet for buying needs. Still, if it means more people can access Bitpay, whom I loathe but unfortunately is still the processor merchants insist on using to acceot Bitcoin, can't be bad news.
Just hope merchants can jump on other payment processors like BTCPay or heck, even the smaller ones like MisterTango. We need the competition.
Just hope merchants can jump on other payment processors like BTCPay or heck, even the smaller ones like MisterTango. We need the competition.
The one million users they are quoting is surely going to be the number of people registered on their site with lots of them moving to other things the moment you understand the way wallets work considering its a web wallet although with ability to export private keys compared to other web wallet services.
This their arrangement is what I don't see materialising without major challenges that they are not addressing and that is the KYC option. BitPay have KYC in place BTC.com don't have such option. Yet they want to collaborate to provide to customers who mostly would prefer the non-KYC option and the 1% they are proposing as fees is not anywhere feasible as the fees alone would discourage users from this arrangement.
October 01, 2018, 12:43:42 AM
I've never met anyone who uses BTC.com wallet, and am pretty sure those 1 million users who need to use Bitpay would have already had a BIP70-compliant wallet for buying needs. Still, if it means more people can access Bitpay, whom I loathe but unfortunately is still the processor merchants insist on using to acceot Bitcoin, can't be bad news.
Just hope merchants can jump on other payment processors like BTCPay or heck, even the smaller ones like MisterTango. We need the competition.
Just hope merchants can jump on other payment processors like BTCPay or heck, even the smaller ones like MisterTango. We need the competition.
September 30, 2018, 08:32:25 PM
BTC.com announced that its wallet will support Bitcoin Improvement Proposal 70 (BIP-70) for payment transactions, which is especially useful for customers and merchants, becoming the industry standard. The wallet has more than a million users, and with BIP-70 users will be able to buy products using the popular Bitpay payment processing platform, which has a trading market of $ 1 billion.
BIP-70 is a favorite among retailers because the update provides secure end-to-end communication with customers around the world, with payments routed and confirmed "onchain". And now that users BTC.com can safely store their private keys in a multi-signature wallet, they will retain control of their coins and at the same time get a choice of more goods and services than ever.
Sean Rolland, product Director at Bitpay, explained:
We appreciate the support BTC.com for BIP-70, as Bitpay works to simplify and improve the security of transactions on the bitcoin network. With BIP-70 we see a decrease from 8% + payment errors (in dollars) to 0.27%. It is this ability to ensure correct payments using BIP-70 that helps the entire industry grow.
Since 2015 BTC.com claims to have processed over $5 billion in bitcoin (BTC) and Bitcoin Cash (BCH) on behalf of a million users. Bitpay sellers, which amount to hundreds of thousands, work only with wallets that support BIP-70.
Everything for trade
Vice President BTC.com on business operations, Alejandro de La Torre explained in detail: "we are always looking for new methods and partnerships to expand the use of BTC and BCH as a currency, and integration with Bitpay is an important step towards working with retailers and buyers. Cryptocurrencies can begin to compete with credit cards and mobile transactions, leveraging current inefficiencies in traditional payment processing services and expanding trade boundaries. Providing customers, merchants and the bitcoin community with BTC and BCH to trade will result in the sowing of seeds for the development of deep and sustainable growth of the entire crypto community."
Given the bearish market covering the bulk of this year, proponents of actualization have tough critics. Perhaps what can affect skeptical retailers is the convenience of using cryptocurrency for customers (no KYC or AML requirements), low transaction fees, and fast transaction confirmation times. And while Bitpay certainly has an identity verification system (KYC), the wallet update BTC.com will allow users to use the 1% fee on Bitpay, which is a good competitive advantage when it comes to comparing with traditional credit card processors.
Based on the Atlanta-based Bitpay platform, users can spend and accept cryptocurrencies such as bitcoin (BTC) and Bitcoin Cash (BCH) to establish business relationships with merchants on behalf of the crypto community through their Visa debit card, for example. Probably the most important feature is the easing of price volatility, which scared the business and slowed its entry into the cryptocurrency ecosystem. In the new interaction, this problem will be solved, since the calculations can be made in Fiat and deposited directly into the seller's account.
Link to the source of information (Russian) - https://altstake.io/news/million-polyzovateley-btccom-okaghetsya-na-milliardnomrynkebitpay
BIP-70 is a favorite among retailers because the update provides secure end-to-end communication with customers around the world, with payments routed and confirmed "onchain". And now that users BTC.com can safely store their private keys in a multi-signature wallet, they will retain control of their coins and at the same time get a choice of more goods and services than ever.
Sean Rolland, product Director at Bitpay, explained:
We appreciate the support BTC.com for BIP-70, as Bitpay works to simplify and improve the security of transactions on the bitcoin network. With BIP-70 we see a decrease from 8% + payment errors (in dollars) to 0.27%. It is this ability to ensure correct payments using BIP-70 that helps the entire industry grow.
Since 2015 BTC.com claims to have processed over $5 billion in bitcoin (BTC) and Bitcoin Cash (BCH) on behalf of a million users. Bitpay sellers, which amount to hundreds of thousands, work only with wallets that support BIP-70.
Everything for trade
Vice President BTC.com on business operations, Alejandro de La Torre explained in detail: "we are always looking for new methods and partnerships to expand the use of BTC and BCH as a currency, and integration with Bitpay is an important step towards working with retailers and buyers. Cryptocurrencies can begin to compete with credit cards and mobile transactions, leveraging current inefficiencies in traditional payment processing services and expanding trade boundaries. Providing customers, merchants and the bitcoin community with BTC and BCH to trade will result in the sowing of seeds for the development of deep and sustainable growth of the entire crypto community."
Given the bearish market covering the bulk of this year, proponents of actualization have tough critics. Perhaps what can affect skeptical retailers is the convenience of using cryptocurrency for customers (no KYC or AML requirements), low transaction fees, and fast transaction confirmation times. And while Bitpay certainly has an identity verification system (KYC), the wallet update BTC.com will allow users to use the 1% fee on Bitpay, which is a good competitive advantage when it comes to comparing with traditional credit card processors.
Based on the Atlanta-based Bitpay platform, users can spend and accept cryptocurrencies such as bitcoin (BTC) and Bitcoin Cash (BCH) to establish business relationships with merchants on behalf of the crypto community through their Visa debit card, for example. Probably the most important feature is the easing of price volatility, which scared the business and slowed its entry into the cryptocurrency ecosystem. In the new interaction, this problem will be solved, since the calculations can be made in Fiat and deposited directly into the seller's account.
Link to the source of information (Russian) - https://altstake.io/news/million-polyzovateley-btccom-okaghetsya-na-milliardnomrynkebitpay
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