Review on BitPay by Pedro O. Alvino M.
Bitcoin payment processor
Bitpay, developed in 2011, has a long history in terms of payment processor, since they were the first to project bitcoin payments in the United States and the first to implement a cryptographic card with a payment function in cryptocurrencies or in this case bitcoin.
Much of the services that Bitpay maintains and continues to be constantly developed is to seek the most flexible way to process payments at the border with cryptocurrencies, since its wallet system allows both companies and normal users to send and receive payments in crypto assets from different ways, either through cryptocurrencies and conversion to Fiat for bank account, given the case that this also offers the conversion of the currency to process the payment according to local currency, where it also provides merchants the ability to accept cryptocurrencies through Bitpay.
Bitpay's payment services are pioneers in terms of bitcoin payment processor in the US, a large part of the company and institutions have invested in said platform that has had a large increase in users in recent years, given that the number of people that use cryptocurrencies is even greater, and since Bitpay also has its compatible cryptographic card in multiple commercial stores to pay and withdraw money through the ATM, it is very functional, however, the full Bitpay services are not yet available for all countries given , since most of them have laws against the use of cryptocurrencies.
Pros
- It has administration and management of funds for natural and legal persons.
- You have a version of your wallet for all platforms, both mobile and desktop.
- It has a crypto card with no conversion fees.
- Offers a wide variety of cryptocurrencies as a payment method.
- It is compatible with the Google Chrome extension.
- It has a long history as an international payment system.
Cons
- It has limitations for some countries regarding card issuance and bank deposit.
- Arduous competitors in the market.
