As we rapidly approach the holidays, here at BitPay we want to wish all our readers an (early) fantastic new year! Despite the traditional end-of-the-year slowdown, we are continuing to welcome aboard new merchants, all the while releasing new products and services that make crypto transactions easier — and more profitable than ever — for the global business community.
In This Issue:
BitPay In the Spotlight
In addition, BitPay was selected as a finalist for Red Herring’s Top 100 North America award, one of the technology industry’s most prestigious prizes.
This month we welcome two new executive hires, Jagruti Solanki, CPA, MBA, CGMA as Chief Financial Officer, and Shaun Worley as Product Vice President. These new hires will help support the company through its next phase of growth as a global financial organization.
Bill Zielke, Chief Marketing Officer of BitPay, was recently on PayPod: The Payments and Fintech Podcast, talking about the mechanisms that enable merchants to accept crypto as payment. Listen here.
Eden Doniger, BitPay’s General Counsel & Chief Compliance Officer, was recently on an International Panel of FinTech, Trade, and Global Payment professionals discussing the latest industry trends and developments. Watch the replay here.
Other Industry News
Here’s a list of some of the most significant happenings in crypto over this past month:
Despite many being ready to write off 2020 – Bitcoin has had an impressive year, with its value increasing more than 175% since the end of 2019. On November 30, it hit a new all-time high of about $19,860, topping the previous peak of $19,783 from December 2017.
“Cash is trash,” says Tyler Winklevoss, as more high-profile investors publicly recognize the emergent store of value of Bitcoin.
Is Bitcoin the new gold? Despite volatility, Bitcoin continues to climb to new records as institutional dollars have fled gold. Whether the two are related is currently unclear.
PayPal has entered the chat. This past November, PayPal’s much-anticipated trading and payments went live for all eligible customers in the United States.
Grammy-nominated rapper Lil Yachty is setting sail with an Ethereum-based social token, “YachtyCoin.” It will debut on the Swiss-based platform Fyooz and provide fans with rewards for investment like special perks and privileges.
Hip-hop and rap artists aren’t the only ones getting into the crypto game. Veteran Christian vocal trio Selah launched its fan token via Rally, a private Ethereum sidechain, last week. The 3CR8 token will give fans access to exclusive benefits such as private messages, video chats, and signed merchandise.
Upcoming BitPay Events
BitPay is fielding a team for the first-ever Esports Corporate Challenge, benefiting Make-A-Wish Georgia. Corporate teams across the Metro Atlanta area will compete in private Fortnite matches to crown the InvitationATL Esports Corporate Champion and support granting local wishes of children fighting critical illnesses. Matches will be live-streamed on Twitch with play by play commentary. Click here to learn more.
BitPay Bids Welcome to New Businesses
It’s our monthly pleasure – and great honor – to welcome aboard new businesses that use our products and services. This month saw BitPay woo and win over clients from across a wide-ranging number of fields and industries – everything from mobile gaming to luxury watch retail. Please join us in saying hello to these new, exceptional members of the BitPay family!
BitPay Merchant Spotlight of the Month: Wrist Aficionado
Wrist Aficionado is an online, modern solution for buying and selling watches. And now, you can make payments with your crypto through BitPay at checkout. They are one of our newer merchants who started out using BitPay’s email billing services and then extended into online payments. In their first month, Wrist Aficionado processed over $100k payments through BitPay!
Word of the Month: Coin vs. Token
Though occasionally used interchangeably, there is a difference between a crypto coin and a crypto token! By a fundamental definition, coins are a method of payment built on their own blockchain. These are your Bitcoins (BTC), Ethereums (ETH), etc. Tokens, meanwhile, are built on top of a coin’s blockchain, like Ethereum, and operate with the purpose of functionality over cash. There are several types of tokens, including Security or Asset Tokens, Payment Tokens, Equity Tokens, and Utility Tokens.
Product Spotlight: BitPay Send
We recently launched BitPay Send – our new mass payout service that enables organizations to pay employees, affiliates, customers, vendors, contractors, and more with cryptocurrency. See the headlines it made in the world of crypto:
For Bitcoin Black Friday and Cyber Monday, BitPay and some of our incredible merchants launched a list of fantastic deals that was advertised through pressers, email, socials, a special directory, and the BitPay blog! If you are a BitPay merchant and would like to be included in future holiday promotions, contact your account executive.