Highly-Criticized Ripple Partners With Much-Maligned BitPay

Share Article

Ripple has announced a strategic partnership with BitPay as a new phase of an expansion plan for its ecosystem.

According to Ripple, thousands of businesses will now be able to accept XRP thanks to the payment processing services provided by BitPay.

The full integration between the two platforms should take place before the end of the year, according to an official blog post.

Image courtesy of Shutterstock.

BitPay: Not So Popular Among Users

BitPay is one of the most important crypto payment processors in the ecosystem. However, it is also one of those with the worst image, especially among Bitcoin experts and enthusiasts.

With a score of two stars out of five in Trustpilot, the platform does not seem to be very popular among users.

One of the main controversies around BitPay comes because it forces users to adopt a legacy BTC address incompatible with Segwit. This congests the network and forces customers to pay excessive fees. Also, many experts have issued warnings and criticized BitPay’s decision to adopt the infamous “Payment Protocol” and force its users to work with this protocol.

Basically, the Payment Protocol or BIP70 is an implementation that allows merchants and users to conduct a smoother trade. However, users must relinquish control of the transaction to this protocol which prevents any attempt of privacy

In fact, BitPay has recently faced major censorship accusations. In August 2019, NGO Amazon Watch received a $100,000 donation which was not processed by BitPay.

Just weeks later, it was accused of censoring BTC donations to Hong Kong protestors.

Ripple and BitPay: Birds of a Feather Flock Together

Ripple is not precisely the cryptoverse’s favorite cup of tea, either. Criticisms of centralization, constant sales of XRP, and a philosophy more consonant to that of a financial services company than a real cryptocurrency itself have caused a negative image in the wider community.

However, despite these obstacles, Ripple has managed to rank XRP as the third most capitalized cryptocurrency in the market — while BitPay remains at the forefront of crypto payment processors around the world.

What do you think about Ripple and BitPay? Let us know in the comments below! 

Images/videos courtesy of Shutterstock, Twitter, YouTube.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Related topics

José Lanz es un abogado, profesor y escritor venezolano con estudios de economía especializado en planificación estratégica. Actualmente Lanz se enfoca en cubrir el mundo de las criptomonedas, fintech y tecnologías blockchain. Su trabajo ha aparecido en varias publicaciones angloparlantes. Antes de involucrarse de lleno en este mundo, solía escribir para varias publicaciones locales en español sobre temas más diversos. También, Lanz es un firme creyente de que el chocolate es mejor que el café.

Follow Author

Trade with the Best Crypto Signals - guaranteed profits with over 70% accuracy

Join now

Want to learn how to trade? Get a beginners guide from BeInCrypto Academy!

Learn now

Bybit Bonus Bash. $1,000 Bonus to be Won!

Join now