We have another month of exciting crypto news and BitPay happenings, including some interesting new crypto data, an exceptional example of how to promote crypto on your website, and an overview of Litecoin, the newest cryptocurrency supported by BitPay. Don’t forget to check out our Merchant and Charitable Spotlight as well!
In This Issue:
BitPay in the Spotlight
You may have already seen the announcement, but we’re now supporting Litecoin!Read about BitPay partners Glamnetic and Noémie, two female-focused brands, in Beauty and the Bitcoin: Female-focused brands accept crypto payments driving adoption Mastercard announced that it will enhance its card program for cryptocurrency wallets (like the BitPay Wallet) and exchanges to make it simpler for partners to convert cryptocurrency to traditional fiat currency. Read the announcement here.In a new PYMNTs eBook, 46 C-suite executives spoke about what the world will look like as recovery rolls on and the next iteration of normal rolls out. In this excerpt, our General Counsel and Chief Compliance Officer, Eden Doniger discusses why companies need to adopt a “compliance-first strategy” when implementing a cryptocurrency strategy. Read the eBook here.The new data that we collaborated on with PYMNTs tells us that 60% of cryptocurrency users want merchants to offer payment discounts. Learn more in the cryptocurrency payments playbook here.We’re thrilled that Newegg has become the first major online retailer to accept the Litecoin (LTC) cryptocurrency as a payment method, via the BitPay platform. Read more here.As crypto firms become eager for more regulation, our General Counsel and Chief Compliance Officer, Eden Doniger discusses how more regulation will help crypto become more firmly entrenched in retail and commercial settings. Find out more here.BitPay Prepaid Mastercard users can now add their card to Google Wallet and can make secure contactless purchases in-app, online, and in-person using Google Pay. Read the announcement here.
Other Industry News
Here’s a list of some of the most significant happenings in crypto over this past month:
Bitcoin traded as high as $46,465. That marks its highest level since May 16. Learn about what caused the surge here.After struggling for years, French regulators have approved asset manager Melanion Capital to begin offering a bitcoin-tied exchange-traded fund (ETF) in the European Union.U.S. miners are developing green, and lucrative, new strategies. Learn how here.Customers can now use their Venmo credit card to automatically buy cryptocurrency using cashback earned from Venmo card purchases. More details here.Find out why the infrastructure bill was a coming-of-age moment for crypto. Read on here.Unfortunately, Bitcoin mining has been getting a bad rap lately. Find out why this shouldn’t be the case from a crypto expert.
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 extending into the real estate business, as well as a top-ranked restaurant. Please join us in saying hello to these new, exceptional members of the BitPay family!
Ashford.com – Online Store For Luxury Watches (Online Checkout)Condos.com – Online Real Estate Marketplace (Email Billing and Payouts)NAAMA Studios – Tattoo Removal Experts (Email Billing)Sonic Electronix – Online Shopping Destination For Auto Electronics (Online Checkout)The Bristol – Top Ranked Chicago Restaurant (Email Billing and Checkout App)
BitPay Merchant Spotlight: Takeaway.com
Takeaway.com is the leading online food delivery marketplace in Continental Europe, connecting tens of millions of consumers with over 580,000 local restaurants through its app and website in 14 European countries, Israel, Canada and New Zealand.
Headquartered in Amsterdam, they facilitate online ordering, payment and occasionally, fulfillment of orders. Utilizing a hybrid model ensures consumers have the widest possible variety of restaurants to order from.
We’re proud to call Takeaway.com a partner since 2013 and wish them lots of continued success.
BitPay Merchant Shout-outs
BitPay Charitable Spotlight: Wikimedia Foundation
A BitPay merchant since 2018, The Wikimedia Foundation makes it easier for everyone to share what they know by keeping Wikipedia and Wikimedia sites fast, reliable, and available to all. They protect the values and policies that allow free knowledge to thrive. They build new features and tools to make it easy to read, edit, and share from the Wikimedia sites. Above all, they support the communities of volunteers around the world who edit, improve, and add knowledge across Wikimedia projects. To support this amazing cause, please visit their website here.
Word of the Month: LTC – Litecoin
Litecoin may not be as well known as Bitcoin, but it’s been growing in popularity and is currently one of the 11 cryptocurrencies accepted by BitPay. Now valued at $170 with a total market cap exceeding $11 billion, Litecoin is an open-source, fully decentralized, peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Compared to other leading math-based currencies, Litecoin features faster transaction confirmation times and improved storage efficiency. It is also capable of handling higher transaction volumes than Bitcoin.
To learn more about Litecoin, visit https://litecoin.org/.
Marketing Spotlight: DavidSW Watch
This month we’re highlighting DavidSW, a BitPay merchant partner since 2016 that is exemplifying an exceptional approach to marketing crypto payments on their website. DavidSW has been in the business of buying and selling authentic, luxury watches for the past 11 years. Over the last few months, they’ve enhanced their crypto marketing tactics to increase watch sales with crypto payments. Not only did they add a large “We Accept Crypto” homepage image on their website, but they also included a similar mention with the BitPay logo further down on the page. Additionally, they have a “learn more” page that explains how to pay with crypto.
This is the perfect example of what can to be done to create awareness, educate customers and make crypto acceptance mainstream. Want ideas on how to do the same or share your existing marketing campaigns with us? Submit your questions or marketing campaigns to firstname.lastname@example.org.
Did You Know?
BitPay currently accepts 11 cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), and 5 USD-pegged stable coins (GUSD, USDC, PAX, DAI, and BUSD). The total market cap of these exceeds $1.3 trillion, accounting for more than 70% of the global crypto market cap.
Download the BitPay payment marks here.
2021 Cryptocurrency Payments Report
In a survey of over 8,000 U.S. consumers, PYMNTS found that 60% of cryptocurrency owners would be eager to use crypto for payments if doing so unlocked discounts — and even 23% of non-holders say the same. Learn more about what merchants need to do to seize this untapped opportunity in the Cryptocurrency Payments Playbook: Cryptocurrencies Gain Momentum As A Payment Option.