Coinify, a cryptocurrency payment provider, is now accepting Bitcoin SV [BSV], the Bitcoin Cash hardfork that came into the market only in November 2018. Coinify also mentioned that BSV will be accepted both directly and after converting it to a fiat currency.
Bitcoin SV and its proponents advocate increased adoption of the coin as they tout it to be the only cryptocurrency that is based on the original Bitcoin protocol. The goal of the BSV camp has always been the creation of a single international currency infrastructure and the partnership with Coinify will propel them closer to that goal.
Through this partnership, Bitcoin SV’s usage can be pushed in both online and retail portals, thereby increasing adoption.
Jimmy Nguyen, the founding president of bComm Association, and a massive BSV proponent, said:“As somebody who has used Coinify personally, I think it’s a huge step forward in the development of BSV that such a respected payment portal has added the original Bitcoin to its portfolio.”
Nguyen further added that this partnership will allow the Bitcoin SV team to allow ‘flick-off the switch’ solutions based on the cryptocurrency to online merchants.
Mark Højgaard, the co-founder and CEO of Coinify, said:“Virtual currencies need to have widespread merchant adoption to really ignite on a mainstream level, and we believe that the simplicity and flexibility of our payment product range makes this possible. Adding BSV as a virtual currency helps us ensure we have the most comprehensive range of options for both merchant and customer.”
Calvin Ayre, the founder of the Ayre Group and one of the main backers behind the Bitcoin SV project, in light of the integration, announced that he is looking to migrate from Bitpay to Coinify.
He tweeted:“I am ordering my team to stop using bitpay and to switch everything to coinify!”
Despite the increasing integration of Bitcoin SV, some users are not satisfied with what they see as “middlemen” in the cryptocurrency realm. They advocate an intermediary free financial transfer process build on cryptocurrencies.
Referencing the above a Twitter user replied to Calvin Ayre, stating:“Wait, wait, wait. I thought cryptos eliminated fee-charging middlemen? Bitpay and Coinify charge such high fees they make banks and credit card companies look like saints. Crypto is a huge joke.”