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ICOLINK Community Blog

BitPay company reported record revenue in 2018

BitPay-company-reported-record-revenue-in-2018 Stephen Pair | Co-founder and CEO of BitPay

BitPay, one of the largest payment blockchain providers in the world, announced a new record reached in 2018. The company processed payments in the amount of more than $ 1 billion and again showed record income.

In addition, Dish Networks, HackerOne, and the Ohio State Government have joined the payment network. The B2B division showed record numbers and grew by 255%, as many law firms, data centers and manufacturers in the IT industry connected to bitcoin reception.

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BitPay becomes the first crypto operator in the state of New York

ICO-NEWS-BitPay-becomes-the-first-crypto-operator-in-New-York Stephen Pair | Head of BitPay

The operator of crypto-payments, BitPay, became the eighth organization that received BitLicense from the New York State Department of Financial Services (NYDFS). On Monday, the Department announced that it had conducted a "comprehensive review" of the company's compliance with the principles of combating money laundering and fraud, as well as its capitalization, consumer protection and cyber security policies, after which the BitPay application was approved.

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High commissions for transactions generate dissatisfaction in the community


In recent weeks, discussions around commissions for Bitcoin transactions and the time of their confirmation have become increasingly tense. Many community members complained about unconfirmed transactions and high cost for medium-sized transactions, which often cost more than $ 30, and a transaction with a large number of inputs can cost more than $ 50.

Such large handlers of Bitcoin payments like Coinbase, Bitpay and Shapeshift warn their users about delays. Bitpay even issued a special application and notified customers that it would no longer process payments in Bitcoins for less than $ 100 due to rapidly growing commissions. However, the next day the platform changed its decision and returned to processing payments of $ 5, but noted that it still recommends making larger payments. This was achieved by sending group transactions for small payments.

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