BitPay Integrates with Coinbase to Improve Crypto Payments
BitPay is a Bitcoin payment service provider based in Atlanta, Georgia, USA. It was founded in May 2011 by Tony Gallippi and Stephen Pair. It provides Bitcoin and Bitcoin Cash payment processing services to merchants.
While Coinbase is a digital wallet headquartered in San Francisco, California. They represent Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos and many other exchanges in legal currencies in about 32 countries, as well as Bitcoin transactions and storage in 190 countries around the world.
How BitPay Partnership With Coinbse Works
To accelerate the growth of cryptocurrency in the global economy, BitPay, the largest crypto provider, has partnered with Coinbase, a digital money exchange based in California. The two companies have worked together to launch a new encryption service that will allow BitPay users to use their cryptocurrency directly from their Coinbase account to any Bitpay-enabled merchant around the world without paying any fees.
Nonetheless, this new service is only available for transactions under $ 1,000. Peer-to-peer transfers are no longer required, so users can use Bitcoin (BTC), Bitcoin Cash (BCH), XRP, Ethereum (ETH), US dollar coins (USDC), etc. directly from the Bitpay e-wallet -Application can use freely Get. In this way, BitPay can take advantage of the popularity of established stablecoins like USDC.
The integration of BitPay’s blockchain security features and the Coinbase network will rapidly accelerate the global transition of cryptocurrencies. Even with stablecoins, transactions must first be verified by the network and then recorded in the public ledger, eliminating the payment risk associated with credit card transfers.
In addition, with the BitPay wallet, the private key and the balance of the wallet are completely controlled by the user. If the user does not share his private key with anyone, his funds are completely safe. In addition, the code used by it Wallet is 100% open to verification and community testing.