Bitpay — Review

WEBSITE: https://bitpay.com/

About Company:

Crypto wallet Bitpay is one of the largest providers of payment services related to bitcoin. Bitpay allows you to store and exchange BTC, as well as pay for services and goods. According to the developers, the transfer to fiat currency is subject to a low commission.
bitpay
Bitpay has been operating for over ten years. It was founded by T. Gallippi and S. Parom in 2011. Two years later, Bitpay added $2 million to the Founders Fund, reaching the level of 10,000 merchants. In 2014, the company launched representative offices in Atlanta, New York, San Francisco and other parts of the world. Now Bitpay is a well-known multi-currency wallet.
List of supported coins
The main cryptocurrency of this platform is bitcoin, but Bitpay also takes into account:
Ethereum;
Ripple
Bitcoin Cash
usdc.
How to use the Bitpay wallet
The crypto wallet is installed on the following platforms:
android;
Windows;
Mas;
Linux;
iOS.
If you want to put Bitpay on a mobile device, you will have to download the app from the App Store (iOS) or Google Play Store (Android). To install on a laptop or PC, it is proposed to use the official website bitpay.com. The application is installed according to the standard algorithm.
To create a wallet you need:
Open the program and click on the wallet icon at the bottom left.
Select “Get Started”.
Connect those currencies for which wallets are needed. Press the “Create” button.
Read the hints and confirm the information by clicking “I understand”.
Think up and enter a password. It is important to write down the combination and keep it in a safe place. When registering, the program offers to create a backup copy of the wallet. This is necessary in order to make it easier to restore it if some kind of failure occurs or the user forgets the password.
Further, all operations take place directly in your personal account. To transfer money or request payment, you need to click on the selected currency, copy the generated code for the sender, or fill in the fields for sending money yourself.
There are two formats for using Bitpay:
For online transactions, transfers, exchange, buying and selling, storage.
To pay for goods / services in the store. The seller generates a unique code, provides it to the buyer, and he pays the required amount in BTC. The seller is charged a commission of 1% of the transaction.
Therefore, the platform website has two sections: for clients and for business.
Bitpay limits and fees
The limit for withdrawing money through an ATM is $ 2,000 per withdrawal, no more than three withdrawals can be made per day. On replenishment and withdrawal of money from an online account, the limit is 10,000 dollars per day. The maximum balance that can be on the card reaches $25,000.
For using Bitpay, customers pay a small commission:
3% for currency conversion;
$2.95 per card issue;
$10 when replacing a card;
$5 per month for inactivity (accrued after 90 days without transactions);
2-3 dollars for withdrawing money from an ATM (depending on the country).
At the same time, there is no monthly commission for using the platform.
Conclusion
Bitpay names its advantages:
multicurrency;
simple interface, the ability to fully use the platform both from a PC and from mobile devices using different software;
integration with various hardware wallets (in particular, with Ledger and Trezor);
the presence of an internal exchanger for the sale and purchase of bitcoins;
several stages of protection, the use of a password and two-factor authentication;
multilingual application, support in Russian.