BitPay to start processing payments on many blockchains

Good news everyone! BitPay, a bitcoin payment processor, has announced that they will be processing payments for more than just bitcoin.

This is a great idea because apparently, the market cap of the top 10 cryptocurrencies is around $179 billion. BitPay will continue to work on Lightning Network support so that Bitcoin transactions are faster.

They will also be implementing support for Bitcoin Cash:

We are already working in various parts of our platform to support transactions with SegWit. Segwit is a new set of features in Bitcoin which can reduce the bitcoin miner fee cost for transactions by over 40% on average. However, with average transaction fees already around $20, we understand that Bitcoin alone cannot handle the current demand for blockchain payments.

We will begin adding support for a Bitcoin Cash payment option this year, starting with BitPay Card loads. All BitPay invoices will include a Bitcoin Cash payment option by default in early 2018.

If you use the BitPay wallet or Copay you can start using Bitcoin Cash:

The BitPay wallet already includes optional Bitcoin Cash support. If you want to use Bitcoin Cash to load your BitPay Card or pay a BitPay merchant, you’ll be able to use your BitPay or Copay wallet.

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