Finance

Basic Things You Need To Know About BitPay

With the increase in the Bitcoin trend comes the different methods of paying this cryptocurrency and that is when BitPay comes into the scene, an electronic payment processing method or system made just for Bitcoin. It facilitates online traders to transfer Bitcoin just as one transfers money on Paypal.

Is it secure?

No one has raised a question on its security yet. Moreover, it was originally built as a secure way to transfer Bitcoin.

Where can one use it?

One can use their BitPay Prepaid Visa Card almost at any online or any store that accepts a Visa debit or credit card. However, one cannot utilize it in countries such as Brazil, Cameroon, Colombia, Cuba, and Romania.

Is this electronic payment system free?

The only fee that this electronic payment system charges are the fee of the Network Cost to them who pay invoices. Although it charges a processing fee of 1% to the merchants. But they have the option to relinquish the charge on to their buyer.

Amazon accepts it or nay?

Amazon is people’s go-to when it comes to online shopping and unfortunately there is no confirmed answer to this question since Amazon has remained silent regarding the plausibility of direct payments with cryptocurrency.

How is it different from Coinbase?

The aims of both differ from each other. We are dealing here with an electronic payment system but Coinbase is more of an exchange system.

Hence, no one should delay an opportunity of using something so easy to configure.

 

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