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Topic: Bitpay and etc (Read 564 times)

alphaguru (OP)

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Bitpay and etc

February 07, 2013, 12:05:23 AM

If you can send money from wallet to wallet why use services like bitpay?

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knight22

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Re: Bitpay and etc

February 07, 2013, 12:24:58 AM

Basicly to manage invoice for bitcoin payment and transfering btc to fiat easily.
These are only a few exemple.

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payb.tc

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Re: Bitpay and etc

February 07, 2013, 12:36:49 AM

no bitcoins on your n00b server for hackers to get into and steal.

security of the coins is handled by people with experience.

MP4Coins

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Re: Bitpay and etc

February 07, 2013, 03:54:59 AM

Quote from: E&G on February 07, 2013, 12:36:49 AM

no bitcoins on your n00b server for hackers to get into and steal.

security of the coins is handled by people with experience.

Yes, that's probably the main reason. There have been a lot of coins lost because they were on "hot wallets" on servers not secured properly.

avegetable

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Re: Bitpay and etc

February 07, 2013, 05:31:34 AM
Last edit: February 07, 2013, 06:17:51 AM by avegetable

Imagine if you have a business handling 1000s of sales every day. Too many to track by hand. You either build your own payment processing system, which won't be free, if you value your time, or you pay somebody else to deal with the problem.

It's not a trivial problem. You screw up = you lose all your money

It's also just what a merchant coming from the traditional payment processing world will be looking for. They might not understand that they don't have to use a service like this with Bitcoin. They just want somebody who looks reliable to take the worry away, and they get upset and think there must be something wrong with Bitcoin if they can't find the kind of services they are used to.

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