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| January 17, 2019

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Stocks Post 5th Gain in a Row

January 10, 2019 |

The stock market shook off a rocky start and managed to end higher, stretching its winning streak into five days, the longest run since September, the AP reports. Industrial companies and chipmakers were among the biggest winners in a choppy day of trading Thursday. General Electric jumped 5.2% and…
Newser

In 2019, California workers gain on pay and working conditions. Employers say it will be costly

January 1, 2019 |

For minimum-wage earners, port truckers, farm laborers, sexual harassment victims, nursing mothers, high-powered female executives and workers injured on the job, 2019 offers reason to celebrate.

A score of new state laws took effect on Jan. 1, expanding the rights of many employees while placing…


L.A. Times – Business

Federal Reserve Chairman Jerome Powell has much to lose and little to gain in sit-down with Trump

December 29, 2018 |

Of all the holiday gatherings Jerome Powell gets invited to, a sit-down in the Oval Office might be one of the last he’d want to attend.

Just days after President Trump blamed the Federal Reserve chairman for the stock market’s December swoon and discussed with aides his desire to fire him, White…


L.A. Times – Business

Tech Rout Erases Market’s Gain for the Year

November 20, 2018 |

Stocks are closing sharply lower, erasing the market’s gains for the year, as losses for big technology companies like Apple mount, the AP reports. Apple sank 4.8% Tuesday. Retailers also fell sharply. Target plunged 10.5% after reporting weak results. Victoria’s Secret parent company L Brands fell 17.7%….
Newser

Disney appears to gain a friendly majority in Anaheim City Council. The ‘living wage’ initiative is still too close to call

November 8, 2018 |

After butting heads for two years with the Anaheim City Council, Walt Disney Co. appears to have won a favorable majority on the panel as candidates backed by the media giant were well ahead in a wide field of hopefuls.

Three City Council candidates, including the mayor, who received campaign support…


L.A. Times – Business

Stocks Gain on Last Day of Brutal Month

October 31, 2018 |

Stocks climbed for the second day in a row at the end of a brutal month for global markets, the AP reports. Investors applauded strong quarterly results Wednesday from companies including Facebook and General Motors, giving the market its first two-day gain since late September. GM, which also announced buyouts,…
Newser

Stocks lower in early trading following biggest gain in six months

October 17, 2018 |

U.S. stocks are lower Wednesday morning following their biggest gain in more than six months.

IBM tumbled after it announced disappointing quarterly revenue and homebuilders are sinking after the Commerce Department said construction of new homes dropped in September. Netflix jumped after it announced…


L.A. Times – Business

Stocks Surge to Biggest Gain Since March

October 17, 2018 |

Stocks are surging on Wall Street, clawing back some of the ground lost last week, after several big US companies reported standout results, the AP reports. Major US indexes climbed more than 2% Tuesday, giving them their biggest one-day gains since March. They’re still down for the month following a…
Newser

Stocks Gain, But Still End the Week Lower

October 13, 2018 |

Stocks clawed back some of the ground they lost in a two-day rout but still suffered their biggest weekly loss in six months, the AP reports. Even with Friday’s moderate gains, major US indexes lost about 4% for the week. A recent spike in interest rates has spooked investors who…
Newser

Bitpay and BTC.com Team: 1 Million Users Gain Access to $1 Billion Merchant Market

September 27, 2018 |

Bitpay and BTC.com Team: 1 Million Users Gain Access to $  1 Billion Merchant Market

BTC.com has . announced its wallet will enable Bitcoin Improvement Proposal 70 (BIP-70) for payment transactions, which is especially helpful between customers and merchants, becoming an industry standard of sorts. The wallet has more than one million users, and with BIP-70 they will be able to buy products from popular processing platform Bitpay, which has a $ 1 billion merchant market.

Also read: 3D Gun File Company Reorganizes After C aody Wilson Resigns

BTC.com Wallet Users Can Now Be Connected to Bitpay Merchants

BIP-70 is a favorite of merchants because it provides for secure end-to-end communication to customers all over the world. Payments are routed and confirmed onchain. And with BTC.com users now able to safely store their private keys on its multi-sig wallet, they retain control over their coins, and have a choice of more goods and services than ever.

Bitpay and BTC.com Team: 1 Million Users Gain Access to $  1 Billion Merchant Market

Sean Rolland, Director of Product at Bitpay, explained, “We appreciate BTC.com’s support for BIP-70 as Bitpay works to make Bitcoin commerce payments easier and even more secure. With BIP-70, we have seen a drop from an 8%+ payment error rate (in dollars) to a 0.27% error rate. It’s this ability to ensure correct payments using BIP-70 helps the entire industry to grow.”

Since 2015, BTC.com claims to have processed more than $ 5B worth of bitcoin cash (BCH) and bitcoin core (BTC) on behalf of one million users. Bitpay’s merchants, which number in the hundreds of thousands, only accept BIP-70 wallets.

It’s All About Commerce

BTC.com’s VP of Business Operations, Alejandro de la Torre, detailed, “We’re always striving for new methods and partnerships to expand the use of BTC and BCH as a currency and integrating with Bitpay is an important step towards transacting with retailers and merchants. Cryptocurrencies can begin to compete with credit card and mobile transactions by capitalizing on current inefficiencies in traditional payment processing services and extend the boundaries of commerce. Enabling customers, merchants and the Bitcoin community to utilize Bitcoin in commerce will sow the seeds for cultivating deep and sustainable growth from the whole bitcoin community.”

Bitpay and BTC.com Team: 1 Million Users Gain Access to $  1 Billion Merchant MarketConsidering crypto’s extended bear market, spanning the bulk of the present year, proponents of mainstreaming have had a tough sell. Perhaps what might sway skeptical retailers is convenience of onboarding for customers (frictionless features such as no KYC or AML requirements), low transaction fees, and fast confirmation times. And while Bitpay for sure has KYC, the BTC.com wallet upgrade allows its users to tap into Bitpay’s 1% merchant fee which is more than competitive when placed against traditional credit card processors. 

Atlanta-based Bitpay allows users to spend and accept cryptocurrency such as bitcoin cash (BCH), having worked for years to establish business relationships with merchants on behalf of the crypto community by way of its Visa debit card, for example. Arguably its most important feature is to mitigate against price volatility, the kind which has spooked businesses from dabbling in the ecosystem. Settlements are made in fiat, and deposited directly in the merchant’s account.

Do you think BTC.com’s new wallet will help crypto adoption? Let us know in the comments below. 


Images courtesy of Shutterstock.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Bitpay and BTC.com Team: 1 Million Users Gain Access to $ 1 Billion Merchant Market appeared first on Bitcoin News.

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