RATE Group | Bitpay Shuns Lightning and Liquid, Says Actual Bitcoin Payments Still Dominate
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Bitpay Shuns Lightning and Liquid, Says Actual Bitcoin Payments Still Dominate

29 May Bitpay Shuns Lightning and Liquid, Says Actual Bitcoin Payments Still Dominate

Posted at 02:34h in Bitcoin News by

Pioneering crypto payments service Bitpay has revealed that Bitcoin still overwhelmingly dominates payments and that it has no plans to use second layer solutions like the Lightning or Liquid networks.

Bitcoin is often criticised as a payment method because it is slow — the network can process just a handful of transactions per second —  and expensive (the transaction fee recently topped $6) but it remains the preferred payment method on Bitpay.

“As of March, Bitcoin continues to be both the largest and most popular crypto asset representing over 95% of transactions by volume for BitPay,” the company’s Chief Marketing Officer Bill Zielke told Cointelegraph.

“Bitcoin Cash ranks second representing nearly 2%. Bear in mind, BitPay has been processing Bitcoin for almost 9 years and stablecoins for less than one year.”

The processor converts crypto payments automatically into fiat for merchants. Bitpay is one of the most well-known names when it comes to Bitcoin payment…

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