Hive should get listed on Bitpay

By Bala | Bala | 12 Feb 2024

I have been using Bitpay for quite some time. I use this mainly to make some crypto payments. Especially when my domains are due on Namecheap, I try to pay using crypto, and the payments are made with the help of Bitpay. So far I have had an excellent experience with Bitpay as the payment gateway while making crypto payments. I use BCH to make the payments because it is very easy and the transaction fee is also very low.

Recently when I was using Bitpay for one of my payments I was wondering if Hive should be one of the coins used in making payments via Bitpay. Currently, there are only a few places outside Hive where the payments are made to purchase something. I started to wonder if that should be increased first before we wish to have Hive as one of the payment methods.


Hive doesn't pay for exchange listings

To get Hive listed on an exchange, we don't usually pay the listing fees. Most of the exchanges demand a listing fee and that listing fee is sometimes very huge for some popular exchanges. Usually, Hive expects the exchanges to directly list with some help from the node operators but many exchange looks for a single owner or a single point of contact. We have no such thing on Hive because it is decentralized. It wouldn't be fair to even call someone an owner. This is why the Hive community usually lets the exchanges figure it out and provide an exchange listing and mostly the initiation won't happen from the Hive's side.

Advantages of getting listed in Bitpay

The biggest advantage we have in getting Hive registered on Bitpay is the visibility we get. Bitpay is used in multiple places and there are so many vendors using Bitpay as their payment method. I have used this on a couple of websites. Of course, there is a small charge involved while using Bitpay but the seamless payment experience that it gives is a big advantage and that can be one good reason to get it listed. Many new people who have been using Bitpay for their payments might start wondering what Hive is all about and they start investing in Hive. This becomes a good marketing experience too.


Bitpay for seamless payments

Usually Bitpay transactions happen instantly and the confirmations also show instantly. It is just that Namecheap takes a few more minutes to show me that the payment was successful and add that to the wallet. I think this delay is from the Namecheap side because as soon as the deposit happens, I immediately get a confirmation while using Bitpay. So it should be something that is pretty much instant. Even though there is a small charge involved in the transactions, it is in no way near the gas fees of Ethereum or other high fees chains if we do wallet-to-wallet transfers. But I would say that the experience was far better so, even if there is a small fee involved I would be happy to use Bitpay for the transaction for the seamless experience it provides.

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