Stripe Stops Accepting Bitcoin

She informed users about this through her official blog.

“Everyone at Stripe has long been excited about the possibilities of cryptocurrencies and the experimentation and innovation that comes with them. In 2014, the company became the first payments company to accept Bitcoin,” writes Stripe spokesman Tom Carlo. ( Tom Karlo )

"The staff's goal in creating the project was to help Bitcoin become a universal, decentralized unit for online transactions and to help people make it easier to use. Over the past couple of years, as block limits have been reached, Bitcoin has evolved into something more akin to a digital asset rather than cash. Given the current popularity of Bitcoin, it is impossible to say that this evolution was anything wrong. However, the result of this is that Bitcoin is almost used for payments. The time it takes to confirm a transaction has increased significantly, which in turn complicates the operation of the payment system (due to volatility, by the time the transaction is confirmed, the Bitcoin rate may be completely different, which will lead to the cancellation of the payment.) In addition, the price of the commission has increased several times. On average, the commission for a Bitcoin transaction is now several tens of dollars, which makes it even more expensive than bank transfers.

For these reasons, many users of the Stripe website wanted the company's management to realize that Bitcoin is in decline. We are already seeing that the earnings of businessmen who accept Bitcoin on Stripe have begun to fall sharply. Unfortunately, there are fewer and fewer reasons to use Bitcoin.

So, starting today, January 23, the site will stop accepting payments in Bitcoin. Despite this move, Stripe is still very hopeful about cryptocurrencies. Perhaps Bitcoin Cash, Litecoin or Ethereum will find a way to have both a wide audience of users and at the same time low fees and fast transactions. Even Bitcoin in the future may very well be. suitable for payments if it fixes the problems that exist now. Thus, Stripe will continue to closely monitor the cryptocurrency market and, perhaps, in the future new opportunities and new cryptocurrencies will be added to the site."

Our information

Stripe is the largest online payment service on the American market... The daily turnover of funds at the end of 2017 was about $1.2 billion.

Founded in 2010 by Patrick and John Collison, immigrant brothers from Ireland. Their company, Stripe, created software to connect to banking systems. Enterprises could integrate this software into their websites and applications to accept payments.

In 2017, Collison's company shares were valued at $9.2 billion, which is several times more than the capitalization of its closest competitors. 28-year-old Patrick and 26-year-old John became one of the youngest billionaires in the world.

According to https://stripe.com