Blue Snap – a global payment platform – is partnering with Bit Pay to give all its clients the opportunity to accept digital assets like bitcoin and Ethereum as methods of payment.
Blue Snap Will Partner with Bit Pay
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey given the volatility that continues to drag them down.
It is extremely hard to understand when bitcoin and its crypto family will go up or down when it comes to their prices. Many stores and companies have been reluctant to say “yes” when it comes to accepting crypto payments for this reason, and to a degree, we can’t blame them.
Consider the following scenario: someone walks into a store and buys $50 worth of merchandise with bitcoin. For one reason or another, the store doesn’t trade the BTC into fiat right away and about 24 hours go by. From there, the price of BTC goes down and that $50 becomes $40. The customer gets to keep everything he or she bought, but the store has lost money in the end. Is this a fair situation? Not everyone thinks so.
That’s what makes enterprises like Blue Snap so important. They understand the initial purposes of bitcoin and digital currencies and are trying to transform them into usable tools that everyday people can benefit from.
Merrick Theobald – vice president of marketing at Bit Pay – explained in an interview:
As many as 85 percent of major retailers already accept some form of crypto payment, and even small businesses are picking up on the trend with one-third of SMBs beginning to accept crypto. Together, Bit Pay and Blue Snap will bring this popular payment method to more businesses and consumers globally. We are proud to work with Blue Snap on this partnership, especially as more businesses adopt this growing trend of accepting cryptocurrencies as payment for products and services.
A Lot of Coins to Accept
Ralph Dangelmaier – CEO of Blue Snap – also threw his two cents into the mix, commenting:
We are excited to partner with Bit Pay, one of the most well-respected crypto companies in the industry. Our work together further supports Blue Snap’s strategic growth, and we are eager to make an impact in this new space. We look forward to driving further payments innovation through growing technologies like blockchain and cryptocurrency.
Thanks to the partnership, companies working with Blue Snap can accept payments in assets like BTC, BCH, Doge, ETH, LTC, and XRP.
