Welcome to our first newsletter of 2024, which promises to be a thrilling journey for everyone in the cryptocurrency community. As we enter the new year, we’re excited to bring you the latest updates from across the cryptocurrency industry, insightful analysis of the evolving cryptocurrency payments landscape, and the latest developments in BitPay’s product offerings.
On this issue:
Bitpay in the news
Check out the latest news from BitPay this month.
industry news
Read news from across the blockchain industry.
- SEC approves spot Bitcoin ETF: The U.S. Securities and Exchange Commission (SEC) has approved the launch of a spot Bitcoin ETF, which is expected to significantly boost investments in the digital currency.
- Buy Bitcoin on MicroStrategy: MicroStrategy, led by Michael Saylor, continued its significant investment in Bitcoin, purchasing an additional 14,620 BTC for $615.7 million, contributing to its total holdings of over 189,150 Bitcoin.
- Central Bank of Nigeria lifts ban on cryptocurrency trading: The Central Bank of Nigeria has lifted the ban on cryptocurrency trading, allowing cryptocurrency activities to resume in Nigeria.
- Elon Musk’s Cryptocurrency Holdings and Plans: Elon Musk, owner of The plan was revealed.
- IRS delays implementation of digital asset reporting rules: The IRS has delayed implementation of new digital asset reporting rules as it awaits further regulatory guidance.
- Vitalik Buterin’s updated Ethereum roadmap to 2024: Ethereum co-founder Vitalik Buterin shared Ethereum’s updated 2024 roadmap, focusing on key priorities: Merge, Surge, Scourge, Verge, Purge, and Splurge, which aim to improve the efficiency and decentralization of the blockchain. I did.
How Bitcoin ETFs Could Influence Crypto-Savvy Sellers
In our latest insight for traders, we examine how the approval of Bitcoin ETFs ushered in a golden age for cryptocurrency-savvy traders.
The SEC’s approval of 11 spot Bitcoin ETFs not only increases investment options but also signals a bullish trend in merchants accepting cryptocurrency payments. This is because rising Bitcoin prices are typically associated with increased consumer spending on cryptocurrencies.
This development, combined with the scheduled Bitcoin halving in April 2024, presents a prime opportunity for merchants to tap into the market of young, tech-savvy and high-spending consumers by incorporating cryptocurrency payments into their operations. Read the full article here.
Nominate your favorite merchants for the Best BitPay Awards of 2023.
We celebrate all the innovative brands, retailers, and organizations that accept cryptocurrency! Whether you are a current seller or an avid customer, we want to hear from you!
Candidate registration is open from now until January 31st. Once nominations are received, voting will begin on February 1 and run until February 28.
→ Nominate your favorite BitPay merchants for this year’s Best BitPay Awards.
Product Focus: Payments via BitPay Send
BitPay’s Latest Statistical updates We show you how businesses around the world use BitPay Send. Affiliate payouts and customer rebates/rewards/refunds lead as top use cases, with payrolls, cash payouts and B2B supplier payments steadily increasing.
BitPay Send allows businesses to easily send Bitcoin, Ethereum, and other cryptocurrency payments globally, providing a simple, secure, and cost-effective alternative to traditional payment methods without the need to purchase, hold, or manage the cryptocurrency directly. can.
→ Explore BitPay Send and see how it can streamline your business payment processes.
Recommended merchant: Jomashop
This Valentine’s Day, make your gift more sophisticated with Jomashop’s carefully selected jewelry, watches, and high-fashion accessories. Experience the future of shopping by purchasing the perfect, luxurious gift for your loved ones with cryptocurrency. Discover the ease and convenience of paying with BitPay at Jomashop, where timeless elegance meets modern payment innovation to make your Valentine’s Day shopping experience as special as a gift.
→ Start your Valentine’s Day shopping with Jomashop
Questions to ask your payment processor
Don’t risk partnering with the wrong cryptocurrency payment provider. Arm yourself with the right questions to ask when researching potential partners.
Question #08: Do you have a customer list I can reference? So who is it?
Read our overview here or download our expanded questions guide to help you find a trustworthy cryptocurrency partner.
→ Get the e-book
Bitcoin halving countdown
Bitcoin halving is scheduled to take place in April 2024. The upcoming Bitcoin halving event presents merchants with a unique opportunity to capitalize on the growing interest in Bitcoin spending. By accepting Bitcoin payments through BitPay, merchants can tap into a growing customer base and benefit from a potential surge in Bitcoin transactions. Don’t miss this opportunity to get ahead and sign up for BitPay today.
Word of the Month: Dollar Cost Averaging
Dollar cost averaging (DCA) means making small, equal investments on a consistent basis instead of making large or irregular cryptocurrency purchases. Cryptocurrencies can be much more volatile than stocks, but dollar-cost averaging using cryptocurrencies can help you reap many of the same rewards that traditional stock traders enjoy from their strategy.
By purchasing your favorite coins regularly, you will automatically end up investing more over time, no matter what happens in the cryptocurrency market. This allows you to increase your holdings and lower your overall cost basis during downturns.
→ Learn more about dollar cost averaging
Not a current seller?
Contact a BitPay representative today