Blockchain payment system BitPay has declared that 2018 has been their most lucrative year, having"processed over a $1 Billion in payments and put a new record for trade fee revenue."
In a announcement , BitPay CEO Stephen Pair said,"To process within a $1 Billion for another year in a row despite Bitcoin's large price fall indicates that Bitcoin has been used to solve real pain points across the globe."
2018 was an especially bloated year for the crypto space, as costs saw a steady decrease. Nevertheless, BitPay was able to show positive expansion, which it credits in part to"new customers like Dish Networks, HackerOne, along with also the State of Ohio."
"The adoption of support for Payment Protocol pockets has made a significant difference for our merchants," added Sean Rolland, head of product of BitPay. "Merchants are now able to easily accept Bitcoin obligations in a straightforward easy way without any support issues. This was our biggest request by our business retailers"
Among the earliest, still-active companies in the area, was set in 2011, BitPay made upgrades to their system through 2018. It set"a list for reducing payment error rates," from 8 percent to 1 percent, in addition to adding"settlement support for Bitcoin Cash and coins that are stable from Circle, Gemini, and Paxos."
Nonetheless, the business is still primarily focused on Bitcoin, which approach has continued to cover dividends regardless of the changes of the market. In a time when crypto businesses are reporting string of earnings, BitPay equally"grew headcount by 78 percent in 2018" and "raised $40 Million in Series B funding bringing its total raised capital to more than $70 Million."