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Welcome to the latest edition of the Cryptie, your essential source for all things related to BitPay and the evolving landscape of cryptocurrency payments. In this issue, we delve into the latest updates from around the cryptocurrency industry, insightful analyses on the evolving landscape of crypto payments, and the most recent advancements in BitPay’s product offerings. Let’s dive into this month’s highlights.
In This Issue:
BitPay in the News
Check out the latest news from BitPay this month:
Industry News
Read news from across the blockchain industry:
Vote For Your Favorite Merchants in the Best of BitPay Awards 2023
Voting for the Best of BitPay awards is now open through the end of February. We’re celebrating all of the innovating brands, retailers, and organizations that accept cryptocurrency! Whether you’re a current merchant or avid customer, we want to hear from YOU!
→ Vote your favorite BitPay merchants for this year’s Best of BitPay Awards.
Product Focus: Crypto-funded Gift Cards
BitPay’s crypto-funded gift cards offer an innovative way to spend cryptocurrency, featuring hundreds of top brands and retailers for unparalleled shopping flexibility. Whether used as thoughtful gifts or as a convenient method to seamlessly convert crypto into tangible spending power, these gift cards bridge the gap between digital currency and traditional retail.
→See all of the gift cards you can buy with crypto.
Featured Merchant: Vegas Auto Gallery
Vegas Auto Gallery, the premier luxury and exotic car dealership located in the heart of Las Vegas, embraces the future of transactions by utilizing BitPay to accept cryptocurrency payments for its high-end vehicles. This innovative payment option caters to a global clientele, offering a seamless and secure way to purchase luxury cars with digital currency. Following the excitement of the “Big Game” in Las Vegas, the dealership continues to attract attention from enthusiasts and collectors alike, showcasing its commitment to modern luxury and convenience.
Perspectives & Insights: Thinking of Accepting Crypto Payments as a Business? Here’s How 6 Major Companies Are Doing It.
The landscape of digital payments is rapidly evolving, with major brands like Gucci, AT&T, Vueling, Dallas Mavericks, AMC Theatres, and Newegg leading the charge by accepting cryptocurrency. This shift not only caters to the tech-savvy and affluent consumer base but also marks a significant step towards integrating digital currency into everyday transactions. Through innovative technology, these companies are bridging the gap between the traditional financial system and the future of commerce, offering customers a seamless, secure, and cutting-edge payment experience.
Questions to Ask Your Payment Processor
Don’t risk partnering with the wrong crypto payments provider. Arm yourself with the right questions to ask when vetting potential partners.
Question #08: Do they offer a no integration option?
Read the overview here or download our expanded guide of questions to help spot a reliable and trustworthy crypto partner.
BitPay Stats Update: New Payouts and Bitcoin Lightning Network Data
In our continuous effort to keep you informed on the evolving landscape of cryptocurrency payments, we’re excited to share key updates to BitPay Stats. Now featuring insights into crypto payouts and Bitcoin Lightning transactions, our data is more comprehensive than ever.
- Affiliate Settlements Lead the Way: Dominating the crypto payout scene, affiliate and marketplace settlements account for half of all cryptocurrency payouts, highlighting their popularity in the digital payment ecosystem.
- Gaming and Lightning Network: The gaming industry is at the forefront of adopting Lightning Network transactions, with computer games transactions representing 25% of all Lightning payments processed by BitPay. This underscores the growing preference for fast, efficient payment methods in the gaming community.
- Lightning Network’s Appeal for Smaller Transactions: The Lightning Network is increasingly favored for smaller purchases, boasting an average order value (AOV) of $63. This contrasts with Bitcoin’s higher AOV of $825, illustrating the diverse payment preferences within the crypto community.
- Top Wallets for Lightning Payments: Leading the charge in Lightning Network payments are Muun Wallet, Square Cash, and Wallet of Satoshi. Their popularity shows the importance of user-friendly, accessible wallets in facilitating the adoption of Lightning payments.
Bitcoin Halving Countdown: 2 Months Away
The Bitcoin halving is slated to take place in April 2024. With the upcoming Bitcoin halving event, merchants have a unique opportunity to capitalize on the increased interest in Bitcoin spending. By accepting Bitcoin payments through BitPay, merchants can tap into a growing customer base and benefit from the potential surge in Bitcoin transactions. Don’t miss out on this chance to stay ahead of the curve and sign up with BitPay today.
Word of the Month: Bitcoin ETF
Bitcoin ETFs are investment funds traded on stock exchanges, similar to stocks, that allow investors to buy into the Bitcoin market without the need to directly purchase or store Bitcoin themselves. This makes investing in Bitcoin simpler and more accessible for people who might be new to cryptocurrencies or prefer not to deal with the technical aspects of holding digital assets. By offering a bridge between traditional investment methods and the innovative world of cryptocurrency, Bitcoin ETFs open up opportunities for a wider range of investors to participate in the potential growth of Bitcoin.
→ Learn more about Bitcoin ETFs
Not a current merchant?
Get in touch with a BitPay representative today
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