Promising to work with regulators to ensure their needs are met, BitPay provides customers safe and secure Bitcoin transactions. Now, the company is reaching new heights every passing day as it is not just accumulating new customers but also expanded the number of Bitcoins processed every day.
According to the company insiders at BitPay, it has grown exponentially in the past couple of years. For instance, whereas there were close to 1,000 merchants signed up in September 2012, the number went up to 10,000 merchants a year later in September 2013. Currently, the company has more than 30,000 merchants globally.
With more than thirty thousand customers this Bitcoin payment gateway has become an industry leader. However, this does not seem to be enough for BitPay as it is willing to expand the operation and enhance the numbers to 100,000 merchants by the year’s end. Though, running a Bitcoin payment gateway is nothing short of big business, BitPay is well prepared.
Ever Expanding Reach and Capabilities
According to a source from BitPay, thousands of merchants around the world rely on the services from the company that allows the acceptance of Bitcoin with limited risk. Best part with the services from BitPay is that it allows customers instant exchange to the digital currency for local fiat and avoids potentially costly fluctuations in price.
A large number of customers are known for their huge customer base and when they opted for BitPay they had this in mind that this payment gateway services provider is reliable. Some merchants like electronics retailer TigerDirect, gaming company Zynga, Richard Branson’s space venture Virgin Galactic, and the Sacramento Kings sports team, etc. are name to reckon with.
It’s also a fact that fifty percent of the company’s merchants are located in the United States; thus, it looks it is US-centric company. At the same time BitPay has been able to get foothold in European market wherefrom it gets close to thirty percent customers. The rest of the customer base i.e. 20% comes from other parts of the world.
A source from BitPay says that it’s all about making Bitcoin payments easy and accessible, and these are the features that make it hot popular among clients. Customers prefer it; for instance, in 2013 alone, it processed 209,420 digital currency transactions which are worth $110 million if converted into fiat.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org