Thanks for tuning back in to learn about the exciting new BitPay happenings this month! We have a diverse group of new partners and are highlighting an extremely innovative one in particular that could help make purchasing your second home a reality! We also dive into our new partnership with Verifone and break down how the integration works. Don’t forget to take our polls - we’d love to hear what your favorite cryptocurrency is and which you’d like us to support next!
In This Issue:
BitPay in the Spotlight
- Crypto payments are moving mainstream as major retailers now accept crypto and get settlements in traditional currency. Our partnership with Verifone enables Cryptocurrency acceptance on payment terminals and in-app/eCommerce.
- Pacsun is the first youth fashion retailer to start accepting cryptocurrency using our platform. Read the press release here.
- Our CEO, Stephen Pair chats with Fox Business about companies accepting bitcoin as payment and China regulating cryptocurrencies. Watch the video here.
- AMC theatres is now accepting crypto payments for gift cards through our platform. Learn more here.
- Wish you could use your Dogecoin to pay for Taco Bell? We’re helping them get there with our Verifone partnership!
- Wix merchants now have the option of quickly, securely and seamlessly accept cryptocurrency payment at checkout with our new Wix Partnership. Read the press release here.
- Pacaso, the leading real estate platform that helps people buy and co-own a second home, announced buyers can now pay with crypto via BitPay. Read the full announcement here.
- DeviantArt, the world's largest online art gallery and community dedicated to artists, designers and art enthusiasts, announced artists can now accept crypto payments online with BitPay. Read the full presser here.
Other Industry News
Here’s a list of some of the most significant happenings in crypto this past month:
- Bank of America has published a report that says crypto’s $2.15 trillion market capitalization is likely here to stay. Read on to learn more about what else the reporting disclosed.
- Miami Mayor, Francis Suarez wants to allow employees to get paid in bitcoin, and allow residents to pay fees and even taxes in bitcoin if the county allows. Find out more about why the city will request the proposal this month.
- China's share of global Bitcoin mining has fallen to effectively zero, while the US takes the lead. Learn more about how China’s banning of bitcoin has impacted mining globally.
- Bitcoin has risen to an all-time high, at about $65,000, amid increasing hopes and expectations that a bitcoin futures ETF could be approved soon. More on that here.
- The recently proposed $3.5 Trillion Reconciliation bill might give Americans reason to consider alternative financial habits. Find out why in this article.
- Mark Yusko, CEO of Morgan Creek Capital recently said that cryptocurrency and blockchain will generate more wealth than Web 1.0 and Web 2.0. Read more about the interview here.
- United Wholesale Mortgage (UWM), the #1 wholesale and purchase lender in America has made history by successfully accepting the first-ever cryptocurrency mortgage payment in September and five more cryptocurrency mortgage payments in October from borrowers. Read the press release for more.
BitPay Coin Polls
Got a favorite BitPay supported cryptocurrency? Tell us which coin you prefer most and see how it ranks amongst other cryptocurrencies by voting here.
We’re always looking to innovate and expand our product. Let us know which coin(s) you want us to support next.
BitPay Bids Welcome to New Businesses
It’s our monthly pleasure - and great honor - to welcome aboard new BitPay partners using our products and services. We’re excited to announce our partnerships, which include a popular web development platform, the largest online art gallery and a leading online apparel retailer, amongst others! Please join us in saying hello to these new, exceptional members of the BitPay family!
- Case-mate.com - eCommerce website for premier phone cases and covers (Online Checkout)
- DeviantArt - The largest online art gallery and community (Online Checkout and Payouts)
- LunaJets - Leading European Private Jet Broker (Email Billing)
- Pacsun - Leading online apparel / accessories retailer (Online Checkout)
- Pacaso - A second home co-ownership service offering luxury listings and ongoing management (Email Billing)
- Verifone - Leading global point-of-sale solution (Custom POS Integration)
- Wix.com - Cloud-based website development platform (Online Checkout)
BitPay Merchant Spotlight: Pacaso
Pacaso is the modern way to buy and own a luxury second home, starting at ⅛ ownership. Since launching just over a year ago, they’ve become the fastest U.S. company to achieve “unicorn” status, with a current valuation of $1.5B, and offer homes in 25 destinations across the country and in Spain. Partnering with BitPay allows Pacaso to better serve second home buyers with diverse portfolios. Learn more.
We’re proud to call this innovative company a partner and wish them lots of success in the future!
October Home of the Month
Description: Sleek and modern, this 4-bedroom, 3-bathroom new construction home features two levels of luxury. On the upper level, the open-concept living space has a vaulted ceiling, a sleek fireplace and glass doors to a cozy balcony. Doors in the adjoining dining area open to a deck overlooking the wooded lot, plus spiral stairs leading to a rooftop deck with mountain and tree-top views — perfect for stargazing or sunbathing.
Cost: $434,000 for 1/8 ownership
Address: 325 Woodbridge Way, Incline Village, NV
See all listings
BitPay Merchant Shout-outs
- Luxury watch dealer Wrist Aficionado for elevating their crypto acceptance messaging by adding a WE ACCEPT CRYPTO ribbon to their home page with link to their new Buy with BitPay landing page.
- Formento's - Located in Fulton Market District with Chicago's bustling West Loop, Formento's is an Italian restaurant that features the bright and light flavors of Italy. Created as a nod to the owner's grandmother, guests will experience an array of dishes steeped from traditional recipes alongside new-age dishes, alongside a robust wine list. Formento's is proud to be one of the first restaurants nationwide to accept various forms of cryptocurrency via BitPay for dining in and Private Events payments!
- The Bristol - Located in Bucktown, The Bristol has helped shape the Chicago hospitality scene since 2008 as a neighborhood staple. Chef Larry Feldmeier has evolved The Bristol with highly seasonal menus – a hybrid of approachable classic and contemporary New American cuisine for both a la carte and tasting menus. Being one of the first restaurants in the nation to accommodate cryptocurrency via BitPay for both dining and Private Events – this and their warm hospitality sets them apart as a Chicago trendsetter over the last decade.
BitPay Charitable Spotlight: ForKids.org
Established in May 1988 to provide emergency shelter to families and children, ForKids has grown to become one of the largest providers of homeless services to families in Virginia. They believe stable housing, a great education and a healthy, diverse community are essential to the welfare of their families and deliver individualized, client-focused solutions designed to achieve stability and a lifetime of success for children. Housing placement, job coaching, tutoring and mental health coordination are just some of the services they provide.
To support this amazing cause, please visit their website here. You can find the Donate with BitPay button below the website footer.
Word of the Month: Bitcoin Node
A node is a computer connected to other computers that follows rules and shares information. They are essential in the crypto network because their job is to prevent attempts to double-spend bitcoins that have already been spent elsewhere. It does so by monitoring the Bitcoin blockchain to distinguish legitimate Bitcoin transactions from non-legitimate ones.
Nodes can be broken down into ‘full nodes’ and ‘light nodes’. Full nodes are defined in Bitcoin Core documentation as, “a program that fully validates transactions, blocks them and then relays them to further full nodes. There are five types of full nodes, including archival, stacking, authority, mining and master nodes. Meanwhile, light nodes require less storage capacity because they only download blockheaders from the Bitcoin blockchain instead of storing the entire blockchain.
Currently, there are more than 13,500 reachable nodes.
Product Spotlight: Verifone Integration
Our new Verifone integration is simple for merchants to implement and very intuitive for consumers. Merchants will be able to accept crypto payments directly from Verifone without the need for an account with BitPay, while the consumer will be able to pay seamlessly using approved crypto wallets. With over 100 million crypto wallets in use globally, consumers will enjoy this straightforward, one-step transactional model using their preferred native wallet to make a direct purchase with their cryptocurrency.
At checkout, consumers will select their preferred crypto wallet on a Verifone device and scan an on-screen QR code using their crypto wallet (Blockchain.com, BRD, Metamask, BitPay, and more) to make purchases with Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD) to complete the transaction. Once the crypto funds have been received by BitPay, the merchant will receive an approval message on the in-store terminal. Funds will be settled promptly into the merchant's bank account in traditional currency (e.g. USD) via Verifone.
Current Verifone merchants who want to begin taking cryptocurrency payments in-store and online should contact their Verifone sales representative. The solution requires one of Verifone’s Engage or Android devices connected to Verifone Cloud Services. New merchants, large or small, can fill out this contact form to purchase the solution.
Marketing Spotlight: Bitcoin Black Friday
For Bitcoin Black Friday and Cyber Monday, BitPay will be promoting some incredible merchants and their fantastic deals through pressers, email, socials, a special directory, and the BitPay blog!
If you are a BitPay merchant and would like to be included in this holiday promotion, please contact your account executive.
Did You Know?
Luxury watches and fancy cars are some of the more popular items purchased with bitcoin these days, but did you know you can also buy a luxury yacht from Denison Yachting with bitcoin (and other cryptocurrencies)? Not only were they #1 in Superyacht sales in 2021, but they’ve got 71 years of yachting history and over 5,000 happy clients. If purchasing a yacht is just a bit over your budget, they also offer yacht charters. Check out Denison's Yacht of the Month below.
October Superyacht of the Month
Name: TIME OFF
Brand new for 2021, TIME OFF is the ninth of the popular 55-metre YS 5009 (182 ft) design. Following her final outfitting, TIME OFF is available for immediate delivery. She follows in the footsteps of her predecessor GENE CHASER, delivered earlier in 2021.
The fact that TIME OFF is the ninth Yacht Support to be launched from the YS 5009 design speaks volumes. The flexibility this design offers our clients to really make the vessel work to their own yachting needs and requirements is what continues to make it so popular.
Location: VLISSINGEN, THE NETHERLANDS
See all listings
Forrester Study Shows Accepting Crypto Attracts New Customers & Boosts AOV
A commissioned study for BitPay from Forrester Research confirmed what merchants are already discovering in real-life practice: that businesses adopting bitcoin and other cryptocurrencies as payment methods experience, on average, 40% more customers, a twofold increase in order values, and fewer chargebacks, among many other benefits.