I think a couple of people got confused at first, but this actually is nothing new and it’s a startup that will provide services like Coinbase and BitPay already have for so long. The only difference is that Cryptopay supports and is completely safe to use within the European boundaries. It’s tailored for the UK and European consumer.
The recent fall of MtGox goes to show how unstable the market can be, and it’s only necessary to have startups like Cryptopay enter the world of Bitcoin to try and stabilize things.
Bitcoin is a new global currency which have emerged several years ago, but have already gained amazing traction among consumers and increasing adoption among businesses. However, getting paid in bitcoins is a big problem for companies as it requires significant technical background. Additionally, the volatility of bitcoins exchange rate is very high, so companies are exposed to exchange rate risk when accepting bitcoins. We believe that bitcoin will change the world of finance and how people pay and get paid, but these problems are slowing down the pace of bitcoin adoption.
There is no need to try and put things in a perspective that goes beyond the normal mans reach. CryptoPay will help businesses and merchants integrate Bitcoin in their payment systems at a cost of 1% from each sale. It’s a leap to take for many, but with the right marketing effort – I think that CryptoPay can become appealing for the Europeans, like myself.
It is as easy as signing up, integrating the new payment platform and leaving it be. That’s how it works and that is how easy it is going to be to use it.
The team behind the startup wants to works closely with the above mentioned industries. It’s always easier when you know the direction you’re heading into. There are mobile apps and other technology available for merchants to take advantage from. It’s a full-scale Bitcoin payment gateway that will surely have it’s time.