December 18, 2024
Your December Newsletter for All Things BitPay and Crypto
The Important Bits
As we close out 2024, it’s time to reflect on a year that’s been nothing short of monumental for cryptocurrency. From groundbreaking advancements in blockchain technology to incredible milestones for Bitcoin and beyond, the year has shown us how far we’ve come and the potential that lies ahead. Let’s dive into the highlights and finish strong as we prepare for an even more exciting 2025!
Industry News & Headlines
Top Stories from 2024
This year brought some of the most defining moments in cryptocurrency history, with groundbreaking milestones, technological advancements, and cultural shifts shaping the industry’s future.
Bitcoin Hits $100,000: Bitcoin reached its long-awaited $100,000 milestone in December, driven by factors like ETF approvals and post-election market momentum.
Bitcoin’s Fourth Halving: On April 19, Bitcoin’s block reward was cut in half to 3.125 BTC, reinforcing its scarcity while impacting mining profitability.
New Regulatory Frameworks: The U.S. appointed a White House Crypto Czar, signaling clearer policies, while the EU's MiCA regulations set a global standard for crypto oversight.
Technological Advances: Quantum computing developments stirred discussions about future-proofing Bitcoin’s security, emphasizing the need for quantum-resistant measures.
Top Stories from the Last Month
Read news from across the blockchain industry.
Bitcoin Rally: $100,000 Milestone and Trump’s Crypto Advocacy: Bitcoin surged to $100,000 in 2024, buoyed by market optimism and political backing from figures like Donald Trump, who has advocated for pro-crypto policies (NPR).
Crypto and AI Converge: Blockchain’s Role in the Future: Blockchain technology is evolving beyond cryptocurrency, becoming integral to advancements in AI and decentralized systems (BBC).
BlackRock and Fidelity Purchase $500 Million in Bitcoin: Institutional giants BlackRock and Fidelity made waves by jointly acquiring $500 million in Bitcoin, signaling ongoing confidence in crypto as a long-term investment (Yahoo Finance).
Bitcoin Soars as Luxury Brands Eye Crypto Payments: With Bitcoin’s price surge, high-end fashion and luxury brands are exploring cryptocurrency payments to attract tech-savvy customers (Reuters).
Golf Showdown Offers Crypto Prize Money: A major golf tournament made headlines for awarding prize money in Bitcoin, highlighting cryptocurrency’s growing presence in the sports world (USA Today).
Ethereum Hits $4,000 as ETF Demand Surges: Ethereum’s price climbed past $4,000 this year, driven by rising demand for Ethereum-based ETFs and its robust DeFi ecosystem (Decrypt).
Mastercard and J.P. Morgan Build Interoperable B2B Blockchain: Two financial heavyweights are collaborating on a blockchain platform designed to revolutionize business-to-business transactions (PYMNTS).
Blockchain: The Key to Open Web and User Data Control: Blockchain’s decentralized framework is paving the way for an open web, giving users greater control over their data (Wired).
Will There Be a Solana ETF by 2025?: Speculation is mounting about the potential launch of a Solana-based ETF, which could further solidify the blockchain’s position in the market (The Block).
Ripple’s XRP Price Climbs Amid Legal Wins: XRP saw a price boost following Ripple’s favorable legal rulings, cementing its place as a leading crypto asset (Barron’s).
Coinbase Faces Antitrust Lawsuit Over Crypto Exchange Practices: A landmark antitrust lawsuit against Coinbase could reshape the way cryptocurrency exchanges operate, with implications for the entire industry (The Recorder).
Trump Plans to Appoint David Sacks as AI and Crypto Czar: Donald Trump announced plans to appoint David Sacks, a confidant of Elon Musk, as the U.S. AI and crypto czar to guid national policy in these cutting-edge fields (Wall Street Journal).
BitPay in the News
Best of BitPay Awards 2024
The Best of BitPay Awards are designed to recognize and celebrate the forward-thinking merchants who integrate crypto payments into their business operations. These innovators and pioneers are leading the way for cryptocurrency payments across all industries, from travel and fashion, to automotive and jewelry. Cast your vote and spread the word to celebrate your favorite merchants!
Nominations begin January 1st through January 31st. Nominate your favorite merchants that accept crypto payments via BitPay in the form below. Merchant categories span everything you can buy with crypto, from automotive and clothes, to travel and watches/jewelry. Once nominations are in, voting will begin on February 1st and run through February 28th.
BitPay Product Updates
New Layer-2s and App Experience in the BitPay Wallet
The BitPay Wallet now offers expanded support for Layer 2 networks, including Arbitrum, Base, and Optimism, making it easier than ever to explore the Web3 ecosystem. These networks bring faster transactions and lower fees, opening up new possibilities for managing your crypto. Alongside these updates, we’ve streamlined the wallet interface to make it even more intuitive and user-friendly. Dive into the enhanced features and discover how BitPay Wallet is evolving to meet your crypto needs.
→ See full details about the update
Questions to Ask Your Payment Processor
Don’t risk partnering with the wrong crypto payments provider. Arm yourself with the right questions to ask when vetting potential partners.
Question #38: How many crypto wallets do they support?
Read the overview here or download our expanded guide of questions to help spot a reliable and trustworthy crypto partner.
Crypto Safety Tips
Protecting your crypto is more important than ever, especially as scams continue to evolve. Here are some tips to stay safe:
Verify URLs: Always double-check website addresses before entering sensitive information.
Beware of Phishing: Be cautious of unsolicited messages or emails requesting your wallet information.
Avoid Unrealistic Promises: If an offer sounds too good to be true, it probably is—stay vigilant.
Use Secure Wallets: Choose trusted wallets with robust security features to store your crypto.
Enable 2FA: Activate two-factor authentication on all accounts to add an extra layer of security.
Merchant Promotions & Deals
Merchant Spotlight: Great American Bullion
We’re thrilled to welcome Great American Bullion to the growing list of merchants that accept cryptocurrency! You can now shop their extensive collection of precious metals with Bitcoin and other crypto. Whether you’re an investor or a collector, Great American Bullion makes it easy to integrate crypto into your purchasing decisions.
→ Start shopping at Great America Bullion
Promo: $25 Cryptocurrency Bonus when you activate any Stack Mobile data plan!
Why not get crypto back for something you do already, right? Activate your Stack Mobile account now and score an extra $25 in crypto! Plus, you’ll earn up to 15% crypto back each month.
Merchant Shoutouts
Check out this month's merchant shoutouts:
Shop APMEX’s silver and gold popular categories, including pop culture collectibles. Shop now!
OneGold gives you direct ownership of vaulted gold, silver, and platinum at an ultra-low cost. Start your free account today.
Buy a domain name with Namecheap today!
Ready to start accepting crypto with your Shopify business? Get started today with the BitPay app!
Instantly deploy high-performance cloud servers, cloud GPUs, bare metal, and cloud storage worldwide with Vultr. New users receive $100 to test their platform.
Use BrandBucket to name your business.
Shop US stores and have your items reliably shipped back home with Qwintry
Travel with Crypto
BitPay Travel is now open to all! In collaboration with Xeni, BitPay Travel allows crypto users to pay for flights, hotels, rental cars, and activities with their cryptocurrency. Book your travel at great prices and pay straight from your cryptocurrency wallet.
Developer Updates
SDK Releases
eCommerce Plugin Releases
General Notes
Python 3.8 will be dropped in Python SDK v7.0.0
Python 3.13 is now supported in Python SDK v6.1.1
The Next.js Kiosk Demo now runs Next.js 15, has a ledger report, and now uses the merchant/payout facades
Upcoming Releases
BitPay Checkout for Magento 9.4.0
WooCommerce Plugin v6.0.0
Magento Plugin v10.0.0 is being updated to support SDK v9.0.x
