Bitpay is a payment institution founded in 2011 with headquarters in Atlanta, Georgia. It is a payment gateway that offers traders the ability to accept funds using bitcoin.
Customers have the opportunity to transfer money directly into the seller’s bank account using a bitcoin wallet. Bitpay is now available in more than 38 countries and continues to expand.
BitPay is one of the oldest and most respected bitcoin companies in the world. Its bes known because of its associated with the provision of unique prepaid crypto cards, a processing service and a bitcoin wallet.
Key advantages of BitPay:
- Support for the most popular languages, including Russian.
- Simple User Interface.
- The Platform is open source. In this way, the wallet can be used for viewing, operation and maintenance, which makes it possible to verify unacceptable vulnerabilities and lack of functionality for the user. In addition, every user of the BitPay wallet can participate in terminating the program itself.
- Integration with hardware wallet Ledger and Trezor.
- Multi-signature support.
- Processing bitcoins through an internal heat exchanger.
- Use a password as an additional protection method.
Disadvantages of Bitpay:
- Only two cryptocurrencies are available-BTC and BCH. Nowadays, altcoins play an important role, and multiple money purses are becoming almost standard.
- There are cases where it is better not to leave traces of cryptocurrency software on the computer. This wallet can be downloaded through computers that are potentially vulnerable to malware. If you increase the security of your computer by using a complex password, transfer most of your money to offline storage, or enable two-factor authentication, your bitcoins will be harder to steal.
The secrecy of the BitPay wallet
- Prevents payments from being tracked.
This wallet makes it difficult to keep track of your balances and payments through the rotation of addresses used. You really should use a new bitcoin address every single time you request a payment.
- Discloses information to third parties
This wallet uses central servers that can link your payments and remember your IP address.
- Tor is not supported
This wallet doesn’t allow you to use Tor to prevent intruders or Internet service providers from associating your payments with your IP address.
