It’s been an eventful past month, to say the least — and we’re not even talking politics! Over the course of October, crypto markets continued to witness bullish growth overall. Meanwhile, here at BitPay, we continue to welcome aboard new merchants, all the while releasing new products and services that make crypto transactions easier — and more profitable than ever — for the global business community.
In This Issue:
BitPay In the Spotlight
See where BitPay has been making headwaves in recent news:
A newly commissioned study for BitPay from Forrester Research confirmed in writing 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.
Other Recent Industry News
Here’s a list of some of the most significant happenings in crypto over this past month:
Square, the payment company cofounded by Jack Dorsey of Twitter fame, made recent headlines by scooping up a cool $50 million worth of bitcoin, demonstrating its commitment to mainstreaming cryptocurrency.
In a move that can only be called industry-shaking, PayPal will enable cryptocurrency buying, selling, and retail shopping across the 26 million+ merchants that comprise its network.
Unicas, a new joint-venture banking company in India, has plans to roll out 22 brick-and-mortar bank branches that enable customers to access both crypto- and traditional banking services. It will be a first for India.
Upcoming BitPay Events
BitPay is proud to be an official Gold sponsor of BitGive’s De-Phi Crypto for Good Conference, a conference that aims to transform people’s lives across the globe for the better. Join us virtually as our Co-founder and CEO Stephen Pair and other thought leaders from around the globe talk about the many ways that crypto and blockchain can dramatically transform people’s lives for the better.
BitPay Bids Welcome to New Businesses
It’s our monthly pleasure – and great honor – to welcome aboard new businesses that use our products and services. This month saw BitPay woo and win over clients from across a wide-ranging number of fields and industries – everything from mobile gaming to luxury watch retail. Please join us in saying hello to these new, exceptional members of the BitPay family!
BitPay Merchant Spotlight of the Month: Mythical Games
BitPay has been on something of a gaming streak as of late.This month we are spotlighting another one of our virtual entertainment merchants – Mythical Games. They are using the decentralized digital ledger technology of blockchain to build games where players can actually own a piece of it! Mid-November they will be launching a private beta for what is being called the “first AAA blockchain game” – Blankos Block Party, with founder pack purchases that can be made through BitPay Checkout.
Fun fact: Mythical did 75% from ethereum on their Day 1. We think this helps build a great use case for ETH in gaming, NFT tokens, and similar. What do you think?
Bitcoin Black Friday
Ready to cryptify your site’s holiday purchase experience? Join us and our other merchants who are getting ready for the biggest shopping days of the year. Here are some promotions happening on Bitcoin Black Friday:
- Ace Jewelers – 20% off selected luxury watches & jewelry! Use code BF2020BitP@y
- ATHEIST Shoes – Use code HandmadeComfy for 10% off
- Blocklete Games – Custom Art Golfer by Tommy Wilson
- Cryptohopper – 30% discount on your subscription. Use code BLACKFRIDAY
- HOSTKEY – Up to 60% discount on dedicated servers
- Inverdiamond – It’s our birthday! Enjoy 7% off
- Murf Electric Bikes – 10% off a MURF ELECTRIC BIKE [US Only]. Use code HODL
- Newegg AU – Get up to AUD $75 discount on your order of AUD $465 or more. Use code AUSBTCBF
- Newegg HK – Get up to HKD $385 discount on your order of HKD $2,325 or more. Use code HKGBTCBF
Word of the Month: Blockchain
Going back to basics – our word for this month is “blockchain” (or “the blockchain”). It is perhaps the most common word or phrase you will see in the crypto world. But what does it actually mean when someone throws it out in conversation?
For a most basic definition, you could say that it is the linkage (chain) of records secured across a connection of multiple computers. These records are the “blocks,” and they contain sets of “hashes” that keep these records updated and synced. In order for a block to accept a new hash entry, it must be verified by this connection network. This is what keeps the blockchain so secure. If something happens to one computer, or one block, that will not affect the rest of the network or chain. The blockchain’s purpose is to allow for information to be recorded, stored, and distributed – but uneditable.
Product Spotlight: BitPay Extension
There shouldn’t ever be a day on the calendar when you can’t spend crypto wherever you want — and however, you wish. That’s why our BitPay extension is a free service we provide to our end users to help make buying with BitPay even easier, and is an additional benefit to you, our merchants! Learn more about the BitPay Extension here.
Marketing Spotlight: Newegg and BitPay
Looking for ideas on how to educate your customers on blockchain payments and drive adoption of sales to your website? Check out this video where Newegg explains the who, what, where, and how of BitPay payments.
New! Our New Product Launch: BitPay Send
Now you can pay out crypto to anyone, anywhere with BitPay Send! This new product is ideal for companies who need to make payroll payments, facilitate customer cashout requests, pay independent contractors or affiliates, issue rewards or rebates and financially settle with marketplace sellers with cryptocurrency any day any time – without having to own or handle digital currency and the inherent exposure to its volatility or risk.
Download our sales sheet on our Resources page for more info.