Bitpay Receives $510,000 From Investors

BitPay Receives $510,000 From Investors #bitcoin

WordPress’s decision to accept Bitcoin in November was a major factor pushing investors to support his company. Since WordPress started accepting Bitcoin (incidentally, using BitPay’s platform to process payments), the company’s merchant base has grown from 1,300 to over 2,100, and is expected to continue to grow as Bitcoin and BitPay receive more news coverage in the mainstream media. BitPay also currently has little in the way of direct competition. Coinbase, a company wishing to themselves become the “Paypal of Bitcoin “, does offer a merchant solution, but the core focus of their product is sending money person-to-person and creating an easy-to-use wallet service, so a marketing effort to attract merchants to themselves is unlikely. WalletBit is a more direct competitor, but so far their marketing efforts have focused heavily on Canada and Europe, while BitPay supports...

Full article: http://bitcoinmagazine.com/bitpay-receives-510000-from-in...