Growth in
the digital world has made every user technology friendly. They always want to
choose the best platform for their secure trading and storage
of funds and data.
Bitpay is
one such platform that provides users with the latest trading facility. It is a
payment app which makes payments online less complicated and quick. With the
article, we’ll be learning more about Bitpay and how it operates to provide
traders with the best services.
Defining Bitpay
BitPay is a
Bitcoin payment service provider. It was established in 2011 and has
headquarters in Atlanta, Georgia, United States. The platform was founded by
Tony Gallippi and Stephen Pair.
It offers
clients with Bitcoin and Bitcoin Cash payment processing services for the
traders or merchants. Clients get the opportunity to directly transfer their
funds to the seller's bank account through the Bitcoin wallet.
Bitpay is
available in 38 countries and continues to expand globally. It is a respected
Bitcoin payment company and has a good reputation because of the unique prepaid
crypto cards, a processing service and Bitcoin wallet.
How Bitpay Operates?
Bitpay is a
unique trading platform. The platform offers traders with
different ways to use it. Here are the operations of the company:
● Online: For online transactions,
businesses traders can add a simple BitPay payment button to their website.
Besides, it offers a shopping cart plugin which is quite compatible.
● In-store: The application allows
users to collect money through BitPay checkout. BitPay checkout is an app that
generates a QR Code. Customers can scan the code with their app and pay the
amount using the Bitcoin wallet.
The platform
makes money by charging merchants 1% of the transaction fee. In addition, the
users have to pay a network cost fee and a miner fee. The miner fee covers the
work of Bitcoin miners that verify and add transactions to the blockchain
network.
BitPay Wallets
Bitpay
wallets at the platform have the following features making it:
● Stores securely
● Uses multi-factor security
● Multilingual support
● Simpler user interface
● Open-source platform
● Integration with hardware wallets
● Support of multi-signature
● Processes Bitcoin through internal
exchanger
● Additional protection with password
BitPay Wallet Features
BitPay is a
secure trading platform that provides traders with the best of services. Users
can make the best use of these features to ensure safety of their data and
funds.
Multiple Wallets
Bitpay
allows users to have their cryptocurrencies into a single location. Traders can
have multiple wallets under a single account. They need not switch between
different trading platforms, wallets and exchanges. Thus, easily managing their
cryptos.
Easy Payment Processing
Bitpay
allows users to process their transactions of crypto payments from various
sources. Traders are able to accept online payments, it can be through email,
or through a person using Bitpay wallet.
Security
Cryptocurrency
is a decentralised trading platform with no interference from the government.
Therefore, Bitpay takes extra steps to ensure security of the clients. It has
multi-signature wallets, two-factor authentication,and robust data encryption.
Thus,
ensures high safety for the clients funds.
Email Billing
Convenient
email billing is available for traders. It enables traders to send automated
invoices to the loyal customers. Traders can also accept payments in local
currencies and cryptocurrencies.
Merchant Directory
The platform
provides a directory of the merchants that are doing business in
cryptocurrencies. Traders can use it to send their coins on goods and services.
It is similar to traditional money transfer.
Integrations
The program
has third-party integrations, allowing users to sell goods online through the
integration. It uses popular e-commerce sites with compatibility using a code
library with backend customisation.
Settlements
Bitpay has a
dynamic settlement option for traders. They can settle their accounts with
cryptocurrency, with traditional money or a combination of the two. Traders can
place their funds directly into the account and have a list of cryptocurrencies
available on the website.
Library
Robust help
library of Bitpay is of great use. Traders can use it to maximise the software
potential in order to have high return from the products.
Conclusion
Bitpay is a
useful payment processing application. Traders can easily install the app on
their mobiles or devices and make easy payments globally. The article defines
Bitpay, how it works and the features of Bitpay wallet.
Thus, the
facility of the platform makes trading online more convenient and successful.
Overall, a useful online trading platform for crypto users.
