Why have the markets surged again this morning? Sometimes, you often wonder if things are too good to be true, like then you book a nice hotel for a discount price or, when the cryptocurrency
markets enter their third week of progression and gains.
What is happening?
There’s a lot going on at the moment, different things, that are all contributing to the performance of the markets at the moment. Politics, the economy, the news. Obviously, today's values wouldn’t be considered as fantastic, if the markets didn’t crash in the first place, with some perspective however what we are seeing is a full recovery from that crash and thus, finally, a chance for the markets to really generate some value.
There is some big news however that does look to have contributed to at least some of the good performances we have seen throughout last night and this morning. BitPay have finally confirmed Bitcoin
Cash retail payments.
Last month, BitPay rolled out some upgrades which essentially added Bitcoin Cash into their systems, now, BitPay have finally turned this implementation into a compatible payment solution, meaning that merchants who operate with BitPay will be able to take live Bitcoin Cash payments. Since Bitcoin Cash wants to be the world's most adopted cryptocurrency, this announcement is huge.
You can see the full BitPay press release here- https://blog.bitpay.com/bitpay-checkout/
According to BitPay:
“This new version improves the app’s design and performance, adds Bitcoin Cash (BCH) acceptance, and adds BitPay's changes for Payment Protocol-only payments and other invoice updates. Now brick and mortar businesses can accept error-free Bitcoin and Bitcoin Cash payments in a flash from customers, with no risk of cryptocurrency price volatility. When customers go to pay, they can select their currency of choice, select the option to give a tip, then scan a BitPay Checkout QR code with their mobile wallets. Payments take just a swipe or a tap, and the receiving merchant gets a local currency bank settlement within one business day. Merchants get every dollar or euro they charge, minus BitPay's 1% processing fee.”
Where can this be used?
As BitPay highlight, this roll out focuses on ‘brick and mortar’ businesses, most people would refer to these as shops. Mainly because, not all shops are made of bricks…
Anyway, this service now means Bitcoin Cash can be used as a physical payment option in actual real life shops. Okay, so the shops in question will have had Bitcoin as a payment option for some time, but now, Bitcoin Cash looks to be catching up with its twin sister. Having an alternative payment method to Bitcoin goes a long way for transparency and can offer customers better deals and more value for money.
Yes, customers will be subject to a transaction fee, but by using cryptocurrency, customers can really enhance the price that they buy products for, based on the markets and the status of their investments
. It’s complicated, but it gives crypto-savvy users the chance to really use their skills and their knowledge, for good.
This is very exciting and it’s something many experts are blaming for the good run we are seeing in the markets now. If this announcement has caused market values to spike, then as the technology becomes more widely adopted, expect to see it spike, again and again.