08-23-2018, 11:14 AM
Many Bitcoin users noticed recently that Bitcoin payments gateway Bitpay have changed the way their invoices work.
Previously, BitPay used to present the customer with a Bitcoin address to deposit funds to, and the payment could’ve been done manually using absolutely any Bitcoin Wallet.
As of recently, BitPay started showing the invoices with the Payment Protocol URLs and QR codes, without listing an actual Bitcoin address for payments.
Here’s how a BitPay invoice issued by the hosting company Namecheap looked on August 22, 2018:
The Payment Protocol URL starts with bitcoin:?r=https:// and can be opened only in several wallets. The Payment Protocol supported wallets are:
Notably, BitPay are updating their customer support article on the issue daily:
They’ve added an explainer video and a list of supported wallets.
Reasons for migration to Payment Protocol
The declared reasons for Payment Protocol migration are listed in BitPay knowledgebase as follows:
The true reason for the change could be to onboard more users to the BitPay wallet, since storing funds AT BitPay and using them to pay BitPay invoices would be the easiest way for most.
Solutions
BitPay are pretty eloquent in their suggested solution, either
BitPay controversy
BitPay was previously criticised for adding the mysterious “network fee” to BTC price, while showcasing the 0 network fee for BCH payments:
Some have said this may have been part of a BCH-promoting agenda, some claimed it’s just a shady practice, while BitPay explained why they started charging the network fee.
Source : Coinvigilance (https://coinvigilance.com/bitpay-adopts-...l-wallets/)
Previously, BitPay used to present the customer with a Bitcoin address to deposit funds to, and the payment could’ve been done manually using absolutely any Bitcoin Wallet.
As of recently, BitPay started showing the invoices with the Payment Protocol URLs and QR codes, without listing an actual Bitcoin address for payments.
Here’s how a BitPay invoice issued by the hosting company Namecheap looked on August 22, 2018:
The Payment Protocol URL starts with bitcoin:?r=https:// and can be opened only in several wallets. The Payment Protocol supported wallets are:
- BitPay Wallet
- Copay Wallet
- Mycelium Wallet
- Airbitz Wallet
- Electrum Wallet
- Bitcoin.org Wallet
- Bitcoin.com Wallet
- BRD Wallet (breadwallet)
Notably, BitPay are updating their customer support article on the issue daily:
They’ve added an explainer video and a list of supported wallets.
Reasons for migration to Payment Protocol
The declared reasons for Payment Protocol migration are listed in BitPay knowledgebase as follows:
- Payment Protocol makes sure you send exactly the right amount of Bitcoin or Bitcoin Cash.
- With Payment Protocol you don’t need to worry about failed payments, delayed orders, or refunds.
- Payment Protocol adds new security to payments, protecting you from sending payments to imposters or attackers.
- Payment Protocol makes sure you include a high enough miner fee for the Bitcoin or Bitcoin Cash network to confirm your transaction.
- Inability to use preferred wallets that are not on the list
- Inability to adjust fees
- Inability to track payments and confirmations in a block explorer.
The true reason for the change could be to onboard more users to the BitPay wallet, since storing funds AT BitPay and using them to pay BitPay invoices would be the easiest way for most.
Solutions
BitPay are pretty eloquent in their suggested solution, either
- Transfer funds to a Payment Protocol supporting wallet (the actual BitPay wallet being first on the list)
- Contact your wallet provider asking for Payment Protocol support.
BitPay controversy
BitPay was previously criticised for adding the mysterious “network fee” to BTC price, while showcasing the 0 network fee for BCH payments:
Some have said this may have been part of a BCH-promoting agenda, some claimed it’s just a shady practice, while BitPay explained why they started charging the network fee.
Source : Coinvigilance (https://coinvigilance.com/bitpay-adopts-...l-wallets/)