Bitpoint Adds Bitcoin and Ether Payments to Platform with Unionpay, Wechat Pay and Alipay

Japanese bitcoin exchange Bitpoint announced on Wednesday the partnership with Nippon Pay to offer cryptocurrency payment options alongside China’s three most popular payment services.

Also read: Japan’s Largest Online Travel Agent Bringing Bitcoin to 1400+ Hotels This Summer

“The World’s First”

Bitpoint informed their customers on Wednesday that the company has “agreed to form a business tie-up on the deployment of virtual currency settlement services” with multi-payment service Nippon Pay. With this partnership, China’s three major payment services, Wechat Pay, Alipay, and Unionpay will be joined by bitcoin and ether payment options on the new platform. Bitpoint wrote:

We are planning to begin handling store settlement services by Ethereum from August 2017 in addition to Bitcoin settlement.

Bitpoint is calling this service “the world’s first,” because it is the first time Bitcoin and Ethereum will be offered alongside China’s most popular payment services. The company also claims that this is the first time ether will be offered as a payment option in Japan. In an interview with Payment News, the president of Nippon Pay further made the claim that his service is the first in Japan to offer Wechat Pay and Alipay all in one application.

Bitpoint Adds Bitcoin and Ether Payments to Platform with Unionpay, Wechat Pay and Alipay

The Tokyo-based Nippon Pay offers payment solutions for businesses with a focus on Chinese mobile payments. “In addition to face-to-face mobile payment at physical stores, we also offer a multi-payment service of China’s three major settlement services; Wechat Pay, Alipay, and UnionPay,” the company explained. Nippon Pay users make these different types of payments using a smartphone app, available for Android and iOS devices. Two additional payment platforms are planned for the end of the year. One is the top mobile payment service in South Korea, Kakao Pay. The other is the most used mobile payment platform in both Thailand and Taiwan, Line Pay.

Crypto Payments Alongside Wechat Pay, Alipay, and Unionpay

Bitpoint Adds Bitcoin and Ether Payments to Platform with Unionpay, Wechat Pay and AlipayNippon Pay’s platform is tailored for Chinese tourists visiting Japan. According to a Chinese travel service, Ctrip, Japan is the third most popular destination for the Chinese. The Japan Tourism Agency reported that 6.37 million Chinese visited Japan last year, spending 1.47 trillion yen in the land of the rising sun.

Unionpay is the largest card payment organization in the world. It also offers mobile and online payments and operates under the approval of the People’s Bank of China (PBOC). Alibaba Group’s Alipay and Tencent Group’s Wechat Pay are the two major smartphone payment services in China. These three providers collectively represent over 70 percent of the Chinese market, accounting for approximately $2.9 trillion USD worth of online payments during 2016, according to payments technology platform Dlocal.

Another Point for Bitpoint

This latest venture with Nippon Pay adds to Bitpoint’s list of impressive Bitcoin merchant projects. The company made headlines back in May when it partnered with Peach Aviation to introduce various Bitcoin services to the travel industry. Soon after, the company revealed that it was in talks with potential partners to add bitcoin payments to over 100,000 stores in Japan. Then earlier this month, it revealed a partnership with Japan’s largest online travel agent to bring bitcoin payments to over 1,400 hotels this summer.

What do you think about an app offering bitcoin and ether payment options alongside Wechat Pay, Alipay and Unionpay? Let us know in the comments section below.


Images courtesy of Shutterstock, Bitpoint, and Nippon Pay


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Surveys Suggest Bitcoin Still Has Enormous Growth Potential

A recent survey conducted by HSBC polling 13 developed nations indicates that the majority of citizens still have not heard of blockchain technology, with only 41% of respondents indicating familiarity with the technology underpinning bitcoin.

Also Read: Malaysian Bitcoin Users Divest Carefully Into LTC and ETH

HSBC’s Report Adds to a Growing List of Surveys That Indicate Bitcoin and Blockchain Technology Is Still in Its Early Years of Development

A recent survey conducted by HSBC showed that 59% of consumers had not heard of blockchain technology. Of the 41% of respondents who were familiar with the technology underpinning bitcoin, 80% stated that they did not understand how blockchain technology operates.

HSBC Survey Suggests Bitcoin Still Has Enormous Growth Potential

The survey polled 2,000 HSBC customers from the United Kingdom, in addition to 1,000 participants from Canada, China, France, Germany, Hong Kong, India, Mexico, Singapore, the United Arab Emirates and the United States respectively.

HSBC’s report adds to a growing list of surveys that indicate bitcoin and blockchain technology is still in its early years of development, with early-majority adoption still yet to be seen.

A survey conducted by Cambridge University this year determined the current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 and 5.8 million. Despite representing just 0.04 – 0.05% of the global population, this data indicates that the bitcoin userbase has at least doubled in just two years. With such a tiny percentage of citizens actively engaged in the bitcoin community, 40% of citizens being aware of blockchain technology evidences the enormous growth potential of cryptocurrency.

Despite the Recent Media Coverage, Majority Still Unfamiliar With Bitcoin and Blockchain Technology

Monex, Inc., Tradestation Securities, Inc., and Monex Boom Securities (H.K) Limited released a survey this month that polled retail investors holding accounts with China, Japan, and the United States respectively. The results showed that only 3% of Japanese and US retail investors are actively investing in cryptocurrency, with 10% of Chinese investors reporting that they were investing in cryptocurrency. 20% of Chinese and US-based retail investors reported that they were not at all familiar with cryptocurrency. Nearly all polled Japanese investors had heard of bitcoin and cryptocurrency, likely owing to Japan’s highly publicized liberal legal apparatus surrounding cryptocurrency.

Surveys Suggest Bitcoin Still Has Enormous Growth Potential

Despite the recent spike in bitcoin’s media coverage, it would appear that the majority of people are still unfamiliar with bitcoin and blockchain technology. With consumer polls in developed nations indicating that 59% of citizens are still unfamiliar with blockchain technology and only a small minority of retail investors are actively involved in the Japanese, Chinese and US cryptocurrency markets, it would appear that bitcoin still has enormous growth potential.

Do you think bitcoin is approaching early mainstream adoption, or is bitcoin still in its nascent years? Share your thoughts below!


Images courtesy of Shutterstock and HSBC


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finman

This week the 18-year old entrepreneur, Erik Finman, recently did an Ask Me Anything (AMA) on a technology subreddit where he details his experiences investing in bitcoin, which led to him becoming a millionaire by age 18.

Also Read: Australian Financial Authorities Look Into Ethereum’s Conflicts of Interest

Eighteen-Year-Old Entrepreneur Makes His First Million Investing in BTC

18-Year Old Erik Finman Details How Bitcoin Made Him a Millionaire Bitcoin millionaire Erik Finman.

At age twelve Erik Finman put the $1000 his grandmother gave him in bitcoin, in May of 2011. By the end of 2013 Finman’s wealth in BTC grew to be worth $100,000 and the young high school student left his high school to create his own company. The company Finman created was called Botangle, a peer-to-peer tutoring service that offers video chat. In 2015 the young entrepreneur found a buyer who was interested in purchasing his company for either $100,000 or 300 BTC.

“The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin,” explains Finman’s AMA. “I took the lower cash value bitcoin deal because I believed it was the next big thing and an official buyout would’ve been very difficult for someone under eighteen and it was good tax planning to use Bitcoin.”

The Proud Owner of 403 Bitcoins

18-Year Old Erik Finman Details How Bitcoin Made Him a Millionaire Finman’s first venture, Botangle, was funded by BTC he bought when he was twelve.

Even after his parents let him leave high school (Finman was later homeschooled) to pursue his career in 2015 they told him he didn’t have to attend college if he made his first million by the time he turned eighteen. Through day trading Finman accumulated more bitcoins from the original 300 BTC sale and used some of the funds to create his own virtual reality headset company. In 2017 Finman became a millionaire at eighteen with his BTC holdings and his parents once again let him skip going to school.

“I can say today that I own 403 bitcoins which are currently valued at $1,092,678.08 with the price per Bitcoin being at $2,711.36 plus some other money invested in other things,” Finman details.

Can’t have all your eggs in one basket! So I won the bet!

Mainstream Media Puts Finman Through ‘Rigorous Proof Verification and Fact Checking’

Finman’s first investment in bitcoin at age twelve got him featured in many articles from publications like Mashable. The self-made millionaire says this time around the news outlet CNBC put him through “rigorous proof verification and fact checking” to verify his latest story. During the AMA many people considered Finman lucky, while others said he made some really good investment choices.

After CNBC had run the story on Finman, he told the public he kept his bitcoins “super secure,” and “spread out across multiple wallets and multiple machines,” he explains. Finman details that going public with his most recent story has made him “paranoid,” and was scared the media attention would make him a target.

What do you think about Finman’s success investing in bitcoin and making his first million at eighteen. Let us know in the comments below.


Images via Shutterstock, the Botangle website, and Twitter. 


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