Major Cryptocurrency Payment Provider Reported $1 Bln In Transactions In 2018

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2018 was a tough year for cryptocurrency markets. It began with huge price drops all across the board and provided an endless supply of emotional turmoil during every single of its 12 months. Pretty much every single prediction regarding 2018 turned out to be wrong and at this stage – no one can be sure what’s lurking around the corner.

But 2018 was also a good year for some companies, especially those, that assist traders and therefore keep on earning regardless of price movements. For BitPay 2018 was a record year. According to a press release published on January 16, the company saw 2018 as a record year for revenue, with $1 billion in transactions.

BitPay also reported an almost 255% growth of its B2B business compared to the year before. And all of it despite the critical cryptocurrency price declines.

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world,” Stephen Pair, BitPay’s co-founder and CEO said and added “To process over a $1 Billion for a second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

In November last year, Sonny Singh, BitPay’s chief commercial officer predicted that the price of Bitcoin will reach between $15,000 to $20,000 by the end of 2019. We can only hope that their predictions are as good as their business acumen.

 

Images by Shutterstock.com

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