BitPay Now Processing $1 Million in Bitcoin Payments Every Day

bitpaynew28 May 2014 / Coindesk – Bitcoin payments processor BitPay has revealed it is now processing an average of $1m worth of bitcoin payments per day.

Coinbase and BitPay are currently the biggest bitcoin processors on the market and BitPay says it is serving the needs of over 30,000 businesses and organisations.

The company’s client list features a number of big names, including: Zynga, Virgin Galactic, WordPress, Gyft, Shopify and TigerDirect.

Bitcoin adoption made easy

The basic idea behind bitcoin payments processors is simple – they allow merchants to accept bitcoin without having to handle bitcoins at all, as all transactions are converted to fiat. This approach also means merchants are not exposed to a number of risks associated with bitcoin, namely volatility and wallet security.

A large number of merchants clearly like the idea, as the company went from 10,000 merchants last year to more than 30,000 in just nine months….. Read more

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