Bitpay now require transfers to Debit Cards to come from wallets that support Bitcoin Payment Protocol

Coinstate Team : December 19th, 2017




Bitpay will now require users that are sending bitcoins to their Bitpay card to send those bitcoins from a bitcoin wallet that supports Bitcoin Payment Protocol. Supposedly Bitcoin Payment Protocol is to make it easier for Bitpay to receive such transfers to the card, in turn reducing the number of mistaken underpayments, overpayments, and payments received after fifteen minutes. These mistaken transfers would normally cost the cost card users time and money.

Earlier this week Bitpay notified its users of the upcoming requirement by email and pointed to available wallets that support the Bitcoin Payment Protocol. Bitpay's suggested wallets to use include its own Bitpay Bitcoin wallet, Copay, Mycelium, and Electrum Bitcoin wallets..

What does this mean for users of the Bitpay debit card? If you are already using the Bitpay debit card you would have realized you could send bitcoins to your Bitpay debit card directly from your bitcoin wallet on an exchange provided they send the correct amount and process the transaction within the required fifteen minutes. Now this will not work under the new Bitpay requirements, the new requirements will now force you to send your bitcoins to an approved wallet first, then to your Bitpay debit card costing you an additional transfer fee.

Previously these mistaken payments were returned by Bitpay but now the proposed solution will cost card users an additional transfer fee.

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