BTC.com wallet: BIP-70 Integration
September 26th, 2018
We are happy to announce our latest product development, the BTC.com wallet now supports BIP-70.
Security update: We are aware of recently reported BIP70 vulnerabilities where wallets may be lied to by merchants if they only submit transactions through the merchant.
We can confirm for bitcoin payments we broadcast the transaction to the network before informing the merchant.
At BTC.com we aim to develop the best products for all Bitcoin and Bitcoin Cash users. By integrating BIP-70 into the BTC.com wallet, our users will now enjoy a smooth user experience when sending Bitcoin or Bitcoin Cash to their favorite BitPay merchant.
“We’re always striving for new methods and partnerships to expand the use of BTC and BCH as a currency and integrating with BitPay is an important step towards transacting with retailers and merchants,” Alejandro de la Torre, VP of Business Operations, BTC.com.
What is BIP-70?
BIP-70 provides a streamlined protocol for secure end-to-end communication between customers and merchants anywhere in the world. The protocol defines a template for safely routing and confirming payment requests, receipts, and refunds over bitcoin’s blockchain.
“We appreciate BTC.com’s support for BIP-70 as BitPay works to make Bitcoin commerce payments easier and even more secure,” Sean Rolland, Director of Product at BitPay.
For the crypto industry to thrive and to be able to compete with traditional financial service providers, we want our wallet to empower our users and allow them to enjoy a full crypto experience by combining the best security and the best user experience.
“Enabling customers, merchants and the Bitcoin community to utilize Bitcoin in commerce will sow the seeds for cultivating deep and sustainable growth from the whole bitcoin community.” Alejandro de la Torre, VP of Business Operations, BTC.com.
Spend your crypto
By supporting BIP-70, the BTC.com wallet becomes a powerful tool to support the bitcoin merchant economy, to drive wider adoption of cryptocurrency as a viable mean of payment. With credit and debit card networks charging merchants between two and three percent per transaction, bitcoin payments are a financially competitive alternative, especially in the international purchase and sale of online goods and services.
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