BitPay Wallet Adds Shiba Inu After Overwhelming Number of ShibArmy Requests

BitPay says it received an overwhelming number of requests to add SHIB.

BitPay Wallet Adds Shiba Inu After Overwhelming Number of ShibArmy Requests

Photo Credit: BitPay

BitPay has integrated Shiba Inu into its wallet app

Highlights
  • SHIB joins Bitcoin, Ether, Dogecoin and others on BitPay's roster
  • Shiba Inu is among the top 15 cryptocurrencies by market cap
  • Users can use SHIB for payments through their BitPay virtual card

BitPay announced that its platform can now accept payments in Shiba Inu (SHIB), while consumers can choose to buy, store, and swap the digital currency in the BitPay Wallet app. The Dogecoin-rival might have begun as a joke, but an active ShibArmy along with the response from AMC Theatres and Newegg, have catapulted SHIB to the top of the list of coins to add. The increased popularity sees Shiba Inu in the top 15 cryptocurrencies by market capitalisation on CoinMarketCap.

“The Shiba Inu community is passionate about its coin and serious about giving those consumers places to spend SHIB,” Stephen Pair, CEO of the popular cryptocurrency payments service BitPay, said. “BitPay believes that the more community involvement from coin holders supports awareness and adoption helping to move the blockchain industry to pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds.”

The meme token has joined Bitcoin, Ether, Bitcoin Cash, Litecoin, Dogecoin and several stablecoins on the list of available cryptocurrencies with BitPay.

According to BitPay, the move was necessary after the company received an overwhelming number of requests to include the meme coin as a payment option from the community supporters, the ShibArmy.

It further expressed its satisfaction with the token's value growth, inclusivity, and the efforts that have gone into making it more decentralised including its evolution into the Shiba Inu ecosystem called ShibaSwap which is a decentralised exchange built on the Ethereum network.

The addition also means that Bitpay users will now be able to spend their SHIB tokens using the Bitpay virtual card which acts as a wallet at any user outlet that accepts Mastercard. The transaction will involve converting their SHIBokens into USD or paying altogether in SHIB depending on the outlet's payment preference which will make the transactions seamless.

Apart from shopping at various outlets, users will be able to purchase gift cards using the firm's app at hundreds of businesses across sectors. Currently, a huge number of businesses in different sectors such as travel, software, entertainment, and gaming are already accepting payments in cryptocurrencies through Bitpay. These include the likes of Amazon, Walmart, Delta, hard crypto wallet maker Ledger, Microsoft, Twitch, Fast Private Jet among others.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: Shiba Inu, BitPay, SHIB
Shomik Sen Bhattacharjee
Shomik is a senior sub-editor at Gadgets 360. As someone who's screened the consumer tech space for the past four years, he's now shifted focus to the crypto-verse. When not converting currency values in his head, you may find him in an intense five-a-side football match or grinding out the newest Destiny 2 weekly challenge on his Xbox. You can reach him for tips or queries at ShomikB@ndtv.com. More
Microsoft Rebrands Xbox Game Pass for PC, Announce Day-One Releases and Future Arrivals
Google Play Games Set to Bring Android Games to Windows PCs in 2022
Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2022. All rights reserved.