Check out our collection of crypto news and BitPay happenings for this month, including effective marketing tactics our partners are using to encourage purchases using crypto. Plus, we’re teaching you what “going to the moon” means to ensure you’ve got all the crypto lingo down. Finally, check out our merchant spotlight, charitable spotlight and our Shopify product feature!
In This Issue:
BitPay in the Spotlight
- While you can’t exactly use Bitcoin directly to make purchases on Amazon, there is a workaround. Learn how to use BitPay to shop on Amazon here.
- Our CEO, Stephen Pair and PYMNTS CEO, Karen Webster discuss Bitcoin energy requirements and its use of renewable energy.
- BitPay General Counsel & Chief Compliance Officer, Eden Doniger, takes part in PYMNTS Q2 Executive Insight eBook surrounding Digital Transformation. Learn more about it here.
- Check out the cheat sheet that highlights Shopify’s third-party payment methods, including its ability to integrate with BitPay.
- Latin American telecom company GoldConnect will be able to process crypto transactions made in Bitcoin, Ether and other digital assets through its new LatamConnect platform using BitPay. Find out more here.
- The GOP will accept crypto contributions through BitPay, allowing them to convert assets like Bitcoin and Ether into U.S. dollars. Read more here.
Other Industry News
Here’s a list of some of the most significant happenings in crypto over this past month:
- A bill has been introduced in Argentina to allow workers to receive their salaries in cryptocurrency in order to allow workers to strengthen their autonomy and conserve the purchasing power of their remuneration. Read on here.
- Bitcoin miners break new ground in Texas, a state hailed as the new cryptocurrency capital. When fully developed, the crypto mine is expected to require 750 megawatts of power. Learn more about the process here.
- Bitcoin prices have been trading in a reasonably well-defined range lately, but a multi-month low has some people concerned about the volatility. Learn more here.
- Bank of America Corp. created a new team dedicated to researching cryptocurrencies, marking Wall Street’s latest push to capitalize on investors’ frenzy for digital assets.
- A new survey from Turkish crypto exchange Paribu shows Turkey’s crypto user base has grown more than 11 times over the last year. Find out more here.
- Square executives confirm that the company plans to build a hardware crypto wallet and service with the goal of making Bitcoin 'more mainstream'.
- Despite a ban on crypto by India’s central bank in 2018, the crypto market is booming, as more millennials choose to invest in crypto instead of gold.
- Personal finance icon, Suz Orman discusses why she thinks crypto should be part of your investment portfolio. Read the article here.
BitPay Bids Welcome to New Businesses
It’s our monthly pleasure - and great honor - to welcome aboard new BitPay partners using our products and services. This month we’re excited to announce more partnerships with clients in the auto industry, luxury jewelry industry, as well as an online travel agency, among others. Please join us in saying hello to these new, exceptional members of the BitPay family!
- Frederick Chevrolet - Lebanon, PA Auto Dealership (Email Billing)
- GetYourGuide - Online Travel Agency and Marketplace for tours and activities (Online Payments)
- Global Vault Group - Full-Service Precious Metals Company (Online Payments)
- NRCC - Major Political Party (Online Donations)
- Oshen Salmon - Online Store for Wild Caught Salmon (Online Payments via Shopify)
- Outlier Jets - Private Jet Charter (Email Billing)
- Policaro Group - Canadian Luxury Auto Dealer (Email Billing)
- TraxNYC Men’s Hip Hop Jeweler (Online Payments)
- Wrist Aficionado Miami - Miami Luxury Jeweler (Email Billing)
BitPay Merchant Spotlight: Lamborghini Newport Beach
Opened in early 2010 and BitPay partner since 2013, Lamborghini Newport Beach is the only factory authorized dealership for Orange County, providing Super Sports Cars to Southern California's affluent coastal communities of Newport Beach, Corona Del Mar, Huntington Beach, Laguna Beach and more. With a mission to offer the best selection of new and pre-owned vehicles in the nation, their sales and service team combines over 75 years of experience with Lamborghini. As a result, they are passionate about the cars they sell, the customers they serve and consistently deliver optimal results.
We’re proud to call Lamborghini Newport Beach a partner and wish them lots of success in the future.
BitPay Merchant Shout-outs
- GetYourGuide.com for their creative inclusion of Dogecoin on their website messaging and landing page design. Also, check out their cool video!
- DavidSW.com for their home page messaging about accepting crypto and highlighting BitPay.
BitPay Charitable Spotlight: Humane Society of Tampa Bay
The Humane Society of Tampa Bay, a 501(c)(3) nonprofit organization, provides shelter for homeless and at risk animals, adoptions, hospital and TNVR services for the general public. To learn more about the Humane Society of Tampa Bay and help end animal homelessness in Tampa, visit https://humanesocietytampa.org/how-to-help/.
Word of the Month: “To the Moon”
As crypto becomes more mainstream, it’s important to stay up to date on crypto “lingo” as well. This month we’re highlighting the saying “going to the moon” as it pertains to crypto.
The phrase was first used in 2017 when Bitcoin’s value increased to $20,000. While it was used initially in reference to Bitcoin, it has since expanded to include other cryptocurrencies with the potential to rise in price. Simply put, it means that the price of a particular coin is rising off the charts. It is often used by investors who try to determine the best time to sell their currency in order to get the best possible price for it.
Product Spotlight: Shopify
Powering over 1,700,000 businesses worldwide, Shopify is an all-in-one commerce platform used to start, run, and grow a business. Given the growing popularity of Shopify, BitPay has a one-click integration that allows merchant customers to seamlessly purchase products using crypto at checkout.
Once you’ve signed up as a merchant, you can follow these simple steps to get set up for crypto payments on your Shopify store.
Marketing Spotlight: Newegg
This month we’re featuring our partner Newegg for their effective “pay with crypto” marketing campaign. Newegg promoted 20% off up to $200 in five countries for using crypto at checkout. Not only was the messaging highlighted on their home page for each country, but they also utilized social media, email, influencers and other marketing tactics to promote. Newegg has exemplified how crypto payments should be promoted across different marketing platforms in order to increase sales. If you want to increase crypto transactions for your business, try running similar promotions and including messaging on your website. Want ideas on how to do the same or share your existing marketing campaigns with us? Submit your questions or marketing campaigns to marketing@bitpay.com.
Did You Know?
Want to fly on a private jet and help your friends and family do the same? With the Fast Private Jet referral program you can accumulate a credit of 1,000€ to fly in a private jet and your referrals will have a 5% discount on their first booking. For each successful referral, a credit of 1,000€ cumulative up to 3,000€ can be added to your Fast Private Jet account to be used for your next private flight.
Joining is simple, all current and future clients can click here and start benefiting from the program. Once the reservation has been made, a 1,000€ credit will automatically be added to your personal Fast Private Jet account.
2021 Cryptocurrency Payments Report
PYMNTS, in collaboration with BitPay, set out to examine consumers’ current interest in and future plans for ownership and use of cryptocurrency. PYMNTS surveyed 8,008 cryptocurrency users and nonusers in the U.S. to examine the ways in which they plan to use crypto to make purchases, what crypto they plan to use — and how merchant acceptance can influence merchant choice and consumer spend. To learn more about what the research found, download the report here.
