Bitpay has announced support for multiple cryptocurrencies and will start with bitcoin cash.
We started BitPay in 2011 because we knew that the Bitcoin blockchain could make payments faster, safer, and more efficient than ever before. Since then, we have been able to bring Bitcoin’s benefits to millions of people.
Just this year, BitPay has processed more than $1 billion in bitcoin payments, with our payment volume growing more than 300% year over year. Overall, Bitcoin has had an amazing year, with significant growth in value and transaction volume. Other blockchains have also seen extraordinary growth. The top 10 alternative cryptocurrencies now reflect a total of more than $179 billion in market cap value.
Why BitPay will process payments on more blockchains
To meet that growing demand, BitPay is moving now to support payments on the other blockchains which Bitcoin has inspired.
We’ve received repeated requests from merchants and users over the years to support additional blockchain payment methods. Many of the top alternative cryptocurrencies’ blockchains make their own innovations on the features which have made Bitcoin great for payments. These range from faster transaction confirmations to greater payment privacy.
Allowing our merchants to accept payments on other blockchains will open up new customer bases to our merchants. Merchants can already reach the hundreds of billions of dollars currently moved in the Bitcoin ecosystem. As BitPay adds support for additional blockchains, our merchants will be able to serve new customers using other emerging currencies for payments.
Cryptocurrency Adviser and Virtual Investments