Towards the end of 2017, Bitpay, the Bitcoin payment processor announced they would enable the ability to process multiple blockchain payments-staring with the launch of Bitcoin cash. On the 1st of March, 2018, the company revealed that Bitpay will enable Bitcoin cash integration and support. As Bitpay enables Bitcoin cash Visa support, BCH transfers can now be made through the Bitpay visa cards.
Bitpay has recently initiated a rollout program in support of the Bitcoin Cash payments. This idea was conceived from numerous requests made by customers to enable support of different digital assets. As such, the firm sought to offer more options to its customers regarding confirmation times and miner fee levels that would work for them by including Bitcoin cash support.
In a move to clarify this integration, Bitpay stated that both blockchains have different exchange rates, verification periods and community fees. One can do a parallel comparison while making a payment, to choose the best payment method at a personal level.
Yesterday March 2nd, 2018, Bitpay Visa cardholders were among the first to test the Bitcoin cash-Bitpay integration. The prices on the network are however different as the network charges 1.9% fees for Bitcoin transactions and 0% fees on Bitcoin Cash transactions. These differences in fees are as a result of the recent high transaction fees often associated with Bitcoin which also is one of the biggest advantages Bitcoin Cash has over Bitcoin core.
According to a blog post put out by the company, the card can be purchased for $9.95 and payments can be done in BCH while the cards can be loaded with Fiat immediately.
The Price of Bitcoin cash has seen a spike following the announcement of this integration to about $1,300 with an over $600 Million rise in trade volume. This price has since then corrected to about $1,279 as of writing time.
What impact do you think this Bitcoin Cash visa support will have on the price and adoption of BCH?
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