BITPAY REPORTS GROWTH IN 2018

Updated: 01/17/2019 14:59
Reprints/Permissions  Hyip Monitor
bitpay growth report
Learn more about the growth and success of BitPay despite the market downturn in 2018, more that $1 billion payment processed, staff increase
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Learn more about the growth and success of BitPay despite the market downturn in 2018, more that $1 billion payment processed, staff increase

The popular cryptocurrency exchange Bitpay has published data indicating that the company maintained strong performance during 2018, despite the market downturn. For example, while other enterprises were forced to cut staff, the number of Bitpay employees increased by 78% over the previous year.

Bitpay announced a high performance payment processing platform in 2018, after more than seven years of operation. During the year, the company reportedly processed payments in excess of $1 billion and set a new record for revenue from transaction fees, adding new customers.

The B2B company reportedly also had a record year, as operations grew by almost 255% from the previous year.

The company also reports that its number increased by 78% in 2018, thanks to new employees in the area of design and support, bringing the total number of employees to 80 people.

Bitpay also raised $40 million to fund Series B, with the result that the total capital raised exceeded $70 million.It is worth noting that the Copay, Bitpay and other wallets using the Bitcore Wallet Service (BWS) sent billions of dollars in BCH and BTC for 2018. In total, to date, users have created more than 1.5 million wallets using Bitpay and Copay.

The company also reports that it set a record for reducing the number of errors in payments, while the volume of losses decreased from more than 8% (December 2017 figure) to less than 1% of the total processing volume in dollars.


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