BitPay – What Is BitPay and How Does It Work?

BitPay is an online payment service provider that enables users to accept Bitcoin payments and direct deposits in their bank accounts. BitPay offers a payment processing result that vendors and merchants can integrate to accept cryptocurrency payments for goods and services.

This app provides payment buttons, a hosted checkout, and embeddable invoices for your website. It works with countless plugins and integrations.

Also, BitPay shields you from the price volatility of Bitcoin and other cryptocurrencies. You get every dollar or euro of what you charge, minus one percent.

BitPay - What Is BitPay and How Does It Work?

Furthermore, BitPay supports settlement in eight currencies and direct bank deposits in 38 countries. Also, it supports payments in Ethereum, Bitcoin, Bitcoin Cash, Ripple, Circle USD Coin, Paxos Standard, and other cryptocurrencies.

BitPay receives and deposits all payments processed from the previous business day straight to your bank or cryptocurrency wallet, according to your settlement preferences.

With a BitPay wallet, you can spend your Bitcoin and turn Bitcoin into dollars with a BitPay prepaid Mastercard.

How Does BitPay Work?

With the BitPay wallet, online sellers and traders can sell anything and everything and receive Bitcoin as payment. Also, it speeds up transactions as it comes with an easy and fast setup designed for online payments.

Most credit cards charge up to three percent in processing fees per transaction. This app works by allowing customers to pay with Bitcoin during their checkout process.

Which allows them to pay the invoice to BitPay at a locked-in exchange rate. After this, BitPay uses modern technology to convert Bitcoin into fiat while shielding the customer from any volatility risks. Here are some of its features:

  • Direct bank deposit.
  • Hosted integrations.
  • Web-based checkout.
  • Shopping cart plugins.
  • Custom transaction.
  • Billing Plugins.
  • Cryptographically Secure API.
  • Direct POS Integrations.
  • Email, Mobile, and Server Payment Notifications.
  • Invoicing in 40 Languages.
  • Two-factor Authentication.
  • Scheduled billing.
  • Multiple user capability.
  • Ledger payment tracking.
  • Demandware.
  • Mobile point of sale App.
  • Email invoicing.

How To Download BitPay Mobile App

Meanwhile, you can access Bit pay features and services via their mobile app for Android and iOS users while on the go.

The mobile app is completely free to download. Here are the steps and guidelines to download the app;

  • Open your Google or App Store
  • Click on the search engine and search for Bitpay
  • Next, click on the app from the options provided
  • Then, tap on Install or Get
  • Lastly, wait for the app to download and then launch it

You can always follow the above steps and guidelines to download the mobile app on your iOS or Android device.

Is It Safe?

Of course, the BitPay wallet is safe and secure. It supports various personal and shared wallets and the full Payment Protocol.

A private BWS node can be used for improved security and privacy. Hence, these are some of the benefits of having a BitPay wallet.

  • This wallet gives you complete control over your bitcoins. In other words, no third party can freeze or lose your funds. However, you are still responsible for securing and backing up your wallet.
  • Its wallet relies on a centralized service by default. This means a third party must be trusted to not hide or simulate payments.
  • This wallet is loaded on mobiles where apps are usually isolated. It provides good protection against viruses, even though mobiles are usually easier to steal or lose. Encoding your mobile and backing up your wallet can reduce that risk.
  • The makers of the wallet publish the source code for the client. That is to say, any developer in the world can audit the code. You still however need to trust the developers of this wallet when installing or updating the final software because it was not built deterministically like Bitcoin Core.
  • BitPay wallet will help you choose a suitable fee so that your transactions are confirmed in a timely manner without paying more than you have to but totally gives you authority if you want to override the idea.

How to Create a BitPay Wallet

To get the best from this platform, you’re best off using it with the official BitPay wallet. The BitPay wallet is available for Android, Linux, Windows, and iOS. To create a wallet on BitPay, follow the steps below;

  • Open the BitPay app.
  • Or visit the official website on your web browser
  • Click the ‘Get Started’ button.
  • Allow the currencies (BTC, etc.) you want to create wallets for. Note that, to be able to create ERC20 token wallets, you need to create an Ethereum wallet for gas.
  • At the bottom, click ‘Create’.
  • When prompted to secure the wallet with a password, choose the desired option. But If you decide not to use a password, you can set up a password later in the wallet’s settings. If you choose to set a password, you must remember that password.

This platform gives you the opportunity to create many wallets that use the same recovery phrase.

Users may also create more than one within the app. In other words, you can have multiple sets of wallets.

How to Login to Your Bitpay Account

In this section of the article, we will be showing you steps and guidelines to successfully log in to your Bitpay account online or through the mobile app.

Simply follow the steps and guidelines below to access the sign-in page;

  • Open the mobile app on your device
  • Or visit the Login page on your web browser
  • Next, click on the login icon on the homepage
  • This will redirect you to the sign-in page
  • Enter the email address connected to your account
  • Then, enter your password
  • Lastly, click on Submit.

There you have it. The above steps and guidelines are easy and simple ways to log in to your Bit pay account online and through the mobile app for Android and iOS users.

Steps To Recover Your Account

Unable to sign in to your account due to an incorrect password or username? No need to panic, you can simply recover your account by following the steps and guidelines below;

  • Open the mobile app on your device
  • Or visit the official website on your computer
  • Then, locate the sign-in icon on the homepage
  • Click on it to be directed to the login page
  • Then, scroll down and click on Forgot Password
  • Enter the email address connected to your account
  • Tap on Reset Password
  • Finally, follow the on-screen instructions to complete the process.

How to Contact Bitpay Customer Service

If you need to make an inquiry about your account or you need assistance resetting your account password, you can always contact their customer service team for help anytime and any day.

To get their latest customer service number and details, visit their official website and then click on the ” Help” icon on the homepage

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