Website: bitpay.com

CEO: Stephen Pair (2011–)
Date founded: 2011
Employees: 80+

BitPay: Credit card service company

BitPay is a bitcoin payment service provider headquartered in Atlanta, Georgia, United States. It was founded in May 2011 by Tony Gallippi and Stephen Pair. BitPay provides Bitcoin and Litecoin payment processing services for merchants. Wikipedia

What Is a BitPay Card?

The BitPay Card is a prepaid Mastercard that lets you instantly convert cryptocurrency into fiat currency. The currency is then loaded onto the card and can be spent globally, anywhere Mastercard debit cards are accepted. You can also use your BitPay Card for online transactions and ATM withdrawals. The BitPay card facilitates cryptocurrency use by converting them into fiat currency, bridging the gap between real and virtual currencies.

The BitPay Prepaid Mastercard was launched in June 2020.

How the BitPay Card Works

The BitPay Card works as a reloadable prepaid card but not a credit card. You use your wallet to load your BitPay Card with accepted cryptocurrencies, and Bitpay converts those coins to cash using their market value at the time you load the card. That cash is “stored” on the card using an account ledger system, letting you use it when needed.

Currently, BitPay supports settlement in fourteen cryptocurrencies and direct bank deposits in 9 countries. You can also choose to receive the cryptocurrency of your choice as payment. The following cryptocurrencies are supported:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Ether (ETH)
• Wrapped bitcoin (WBTC)
• Dogecoin (DOGE)
• Litecoin (LTC)
• Shiba Inu (SHIB)
• Apecoin (APE)
• Six USD-pegged stablecoins (GUSG, USDC, USDP, DAI, BUSD, PYUSD)
• Eurocoin (EUROC)
• Polygon (MATIC)
• XRP (XRP)
• ERC-20 tokens on the Ethereum Network

How Do You Get a BitPay Card?
To get a BitPay card, the BitPay app must be loaded on your mobile device. Install and open the app, click the card icon, and apply for the card following the instructions.

To apply for the BitPay Card, you must be at least 18 years old and have successfully completed identity and residency verification. In addition, you’ll need to provide a clear selfie of your face and a photo from a supported identification method such as a:

• State ID
• Passport
• Residence Permit
• Driver’s License
• Work Permit
• Immigrant Visa

The BitPay Card can be used at any vendor that accepts Mastercard debit cards. You can also use it to withdraw cash at any ATM compatible with Mastercard

Is BitPay Card Free?

You may pay miner and wallet fees, a $2.50 fee for ATM and cash-back withdrawals, and other fees according to your fee schedule.

Can I use BitPay in USA?

U.S. residents may use the BitPay Card online or in-store wherever major debit cards are accepted. It can also be used as an ATM card to instantly convert your Bitcoin or other cryptocurrencies into dollars.

Is BitPay safe and legit?

Yes, Bitpay is considered safe and legitimate within the cryptocurrency industry. With its establishment in 2011, Bitpay has built a strong reputation as one of the leading and most trusted cryptocurrency payment processors.

What country is BitPay from?

BitPay is a bitcoin payment service provider headquartered in Atlanta, Georgia, United States. It was founded in May 2011 by Tony Gallippi and Stephen Pair. BitPay provides Bitcoin and Bitcoin Cash payment processing services for merchants.

Source: investopedia