"Bitcoin payment service Bitpay reports growing usage processing $1.2 billion USD

Advertisement

Bitpay's cheif operating officer, Sonny Singh, recently attested to the efficacy of Bitcoin as a means of payment, stating that "Bitcoin is being used all around the world for things other than speculation and trading." The COO also reported that Bitpay processed $1.2 billion USD worth of Bitcoin's payment in 2018.

It doesn't matter to Bitpay weather it's crashing

Sonny Singh, the cheif operating officer of Bitpay, recently discussed the use of bitcBitas a means of payment.

Mr. Singh stated that "Bitcoin is actually working" adding that when people say wow the price has gone down so much.

The Bitpay CEO asserted that the key thing is that Bitcoin is actually being used all around the world for things other than speculation and trading.

Mr.Singh claims that Bitpay did 1.2 billion USD last year in payments, adding that such means people spent $ 1.2 billion USD of payments using Bitcoin.

Bitpay CEO indicated that Asia comprises the company's major market,Starting I have to say that Asia is very big market for Bitpay and for Bitcoin overall. And it will be that way for a long time, not just for trading, but for business aswell. If you live in China or Korea and you have to pay an invoice to America,let's say a million dollars,and you use bank services, it'll take you 3 to 5 days for that payment to happen and it cost 3% to 4% in fees. We can do the whole hung in one day for 1% fee by Bitcoin. That's how Bitcoin solves a real pain point. It's cheaper and quicker that bank wire in most regions of the world.

Mr.Singh also expressed his confidence that Bitcoin will become a main Street product in the next couple of years adding it's just takes a little time.

Thanks regards,

Vinay Kumar.