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BitPay and Coinbase Launch an Instant, Zero Fee Service for Bitcoin, Ethereum, XRP, Bitcoin Cash and USDC

August 16, 2020

The largest provider of Bitcoin and cryptocurrency payments, BitPay, has just modified its services to allow users to spend cryptocurrency straight from a Coinbase account to BitPay-enabled merchants for zero fees.

The new enhancement, which also eliminates the need for peer-to-peer transfers, gives users the ability to spend Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), USD Coin (USDC), and other cryptocurrencies from their Bitpay Wallet apps.

So far, the rollout of this new measure will apply to all transactions under $1,000.

Sean Rolland, the director of product at BitPay, states,

“Customers who have a Coinbase account [and] are looking for a fast, secure and easy way to pay for goods and services with crypto globally now have additional options through BitPay enabled merchants.

Integration between Coinbase and BitPay lets users pay directly from their Coinbase account, opening up new global business opportunities to accept and pay with crypto.”

Notable in the new enhancement is BitPay’s leveraging of the growing popularity of stablecoins such as USD Coin, a US dollar-pegged cryptocurrency. 

Like other cryptocurrencies, USDC transactions are verified by a decentralized network and then recorded on a public ledger, which eliminates payment vulnerabilities related to credit card transactions. Since the crypto asset’s value is pegged to fiat, USD Coin and other stablecoins aren’t as prone to volatility as other cryptocurrencies, making them appealing for standard transactions.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/Cryptographer