Rolling out new and innovative features in the world of Bitcoin payments is an absolute must. Cryptocurrency enthusiasts can now pay BitPay invoices by using the Shapeshift.io platform. This allows users to use any of the platform’s supported currencies to pay invoices denominated in Bitcoin. A big step forward for the cryptocurrency ecosystem as a whole.
BitPay and Shapeshift Show Altcoins Some Love
Most cryptocurrency enthusiasts know the Shapeshift.io platform as a service that allows for instant exchanges between different currencies. Since there is no need to register an account, the service is very convenient to use. With support for popular currencies such as DASH, Ether, and Namecoin, exchanging altcoins to Bitcoin and vice versa has never been easier.
BitPay, the world’s leading Bitcoin payment processor, has come up with a new feature to make these coins even more useful. Users can now pay BitPay invoices with altcoins through the Shapeshift.io platform. All it takes is four easy to follow steps, and the process is very straightforward.
Rather than using the ShapeShift.io platform for “quick” exchanges, users will need to complete a “Precise” conversion. Once a user has the recipient Bitcoin address for any BitPay invoice, they can copy that address in the beneficiary field on the Shapeshift.io conversion page. Do not forget to fill in a refund address for the original currency, just in case there would be an error.
The main reason why BitPay is promoting this solution is due to the instant conversion process offered by Shapeshift. Moreover, it is possible to convert altcoins to Bitcoin through an exchange, but that would require an account to do so. This solution allows users to maintain privacy at all times.
More importantly, this is also good news for all of the altcoins supported by the Shapeshift platform. Bringing additional use cases to the table for altcoins will help those individual communities grow as well. Bitcoin is the most commonly used cryptocurrency to pay for goods and services, whereas altcoins are usually several steps behind. Through this nifty guide on the BitPay site, new opportunities are created to spend altcoins.
Source: BitPay Blog
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