Welcome to the latest edition of Cryptie, your essential source for everything related to BitPay and the evolving cryptocurrency payments landscape. In this issue, we examine 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. Let’s take a look at this month’s highlights.
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.
Vote for your favorite merchants in the 2023 Best of BitPay Awards.
vote Best of BitPay Awards It is currently open until the end of February. 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!
→ Vote for your favorite BitPay merchants for this year’s Best BitPay Awards.
Product Focus: Cryptocurrency Gift Card
BitPay’s cryptocurrency-backed gift cards offer an innovative way to spend cryptocurrency with hundreds of top brands and retailers offering unparalleled shopping flexibility. Used as a thoughtful gift or as a convenient way to seamlessly convert cryptocurrency into tangible spending power, these gift cards bridge the gap between digital currencies and traditional retail.
→Check out all gift cards that can be purchased with cryptocurrency.
Main sellers: Vegas Auto Gallery
Vegas Auto Gallery, a premier luxury and exotic car dealership located in the heart of Las Vegas, embraces the future of trading by leveraging BitPay to accept cryptocurrency payments for luxury vehicles. This innovative payment option provides customers around the world with 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 the attention of enthusiasts and collectors alike by demonstrating its commitment to modern luxury and convenience.
→ Visit Vegas Auto Gallery
Perspectives and Insights: Are you thinking of adopting cryptocurrency payments as a business? Here’s how six leading companies are doing it.
The digital payments landscape is rapidly evolving with major brands such as Gucci, AT&T, Vueling, Dallas Mavericks, AMC Theatres, and Newegg embracing cryptocurrency. These changes represent a significant step forward in integrating digital currencies into everyday transactions as well as catering to a tech-savvy and affluent consumer base. Through innovative technologies, these companies are bridging the gap between traditional financial systems and the future of commerce, providing customers with a seamless, secure, cutting-edge payment experience.
→ Read the full article here.
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: Are there no integration options?
Read our overview here or download our expanded questions guide to help you find a trustworthy cryptocurrency partner.
→ Get the e-book
BitPay Stats Update: New Payouts and Bitcoin Lightning Network Data
As part of our ongoing effort to keep you informed about the evolving landscape of cryptocurrency payments, we are pleased to share the following key updates: BitPay Statistics. We now provide insight into: Cryptocurrency Payment and Bitcoin Lightning transactions, our data is more comprehensive than ever.
- Affiliated settlements lead the way: Dominating the cryptocurrency payment scene, Partnership and Market Settlement It accounts for half of all cryptocurrency payments, highlighting its popularity in the digital payments ecosystem.
- Gaming and Lightning Network: The gaming industry is at the forefront of adopting Lightning Network transactions, with computer game transactions accounting for 25% of all Lightning payments processed by BitPay. This highlights the gaming community’s growing preference for fast and efficient payment methods.
- Lightning Network’s appeal for small transactions: The Lightning Network boasts an average order value (AOV) of $63, making it an increasingly popular choice for smaller purchases. This contrasts with Bitcoin’s high AOV of $825, which demonstrates varying payment preferences within the cryptocurrency community.
- Best wallets for Lightning payments: The leaders in Lightning Network payments are Muun Wallet, Square Cash, and Wallet of Satoshi. Their popularity demonstrates the importance of user-friendly and accessible wallets in driving the adoption of Lightning payments.
Bitcoin Halving Countdown: 2 months away
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: Bitcoin ETF
Bitcoin ETFs are investment funds that trade on stock exchanges, similar to stocks, allowing investors to make purchases on the Bitcoin market without having to purchase or store Bitcoin directly. This makes investing in Bitcoin simpler and more accessible for people who are new to cryptocurrencies or don’t want to deal with the technical aspects of holding digital assets. Bitcoin ETFs provide a bridge between traditional investment methods and the innovative world of cryptocurrency, opening up the opportunity for a broader range of investors to participate in Bitcoin’s potential growth.
→ Learn more about Bitcoin ETFs
Not a current seller?
Contact a BitPay representative today