Published on August 2nd, 2018 | by bitcoin0
Bitcoin “Working” for Payments Says Bitpay COO
Economy & Regulation
Bitpay’s chief 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 payment in 2018.
Also Read: Swissquote Reports 44% Increase in Profit After Adding Cryptocurrency Services
Bitpay COO Promotes Bitcoin as Means of Payment
Sonny Singh, the chief operating officer of Bitpay, recently discussed the use of bitcoin as a means of payment.
[…] The merchants save money in America by paying with bitcoin, because they pay 1% of the transaction fee, but with credit cards, that’s 4%.
So the merchants can make a lot of money if you are paying with bitcoin.
We need to get these people to actually start to spend bitcoin.”
Asian Region a Key Market for Bitpay
The Bitpay COO indicated that Asia comprises the company’s major market, stating “I have to say that Asia is a very big market for Bitpay and for bitcoin overall.