Business 6 August 2018

Erik Gibbs

Bitcoin BCH now accepted at 50M merchants, thanks to Coinbase plugin

With the help of a simple plugin, more than 49 million eCommerce retailers can now accept Bitcoin Cash (BCH), the only true retail-purposed cryptocurrency. The WooCommerce plugin has been introduced for the Coinbase Commerce platform, going a long way to help spread cryptocurrency adoption around the world.

WooCommerce is a popular eCommerce platform that is currently used to power 28% of all online retail stores. The platform has had more than 49 million downloads, meaning that all of the stores currently using WooCommerce will now be able to easily accept crypto payments.

In addition to BCH, merchants can also accept BTC, Ethereum (ETH) and Litecoin (LTC) directly from consumers from all across the globe. Coinbase said of the plugin, which is available on GitHub, “This increased access will lead to more widespread adoption, and ultimately, moves us closer to our goal of an open financial system.”

All payments made through the Coinbase Commerce platform are strictly peer-to-peer. Money being sent from a crypto wallet is transferred directly to the retailer’s wallet and processed on chain. This a huge benefit to eCommerce entities, as it means they do not have to pay any transaction fees and all payments are always under their own control.

The company also said that it has recently introduced additional features for Coinbase Commerce that will allow for users to send various digital currency, including BCH, BTC, ETH and LTC directly from Coinbase Commerce.

The sending service has already been initialized for Bitcoin (BCH) and the bigger altcoins BTC, LTC with ETH will see the functionality soon. Bitcoin BCH is the world’s only fully functioning and scalable digital currency.

Coinbase has made some significant advances within the crypto space recently. Users are now seeing the exchange’s ads on Google, Instagram and Facebook, and a few days ago, the company announced that it had enabled support for the British pound for its UK-based customers. It is also working hard to increase crypto adoption through the creation of a Python library for its Coinbase Commerce application programming interface (API). It reportedly has a few more in the works, including some for Ruby, PHP and Node.js.

Coinbase, a crypto exchange based out of San Francisco, was founded in 2012 by Brian Armstrong and Fred Ehrsam. It trades BCH, BTC, LTC and ETH in 32 countries and is currently ranked 17th by trading volume among all cryptocurrency exchanges.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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