Payment platform Stripe will stop supporting Bitcoin: deadline is April 23

Sina Technology News, Beijing time, January 24 morning news, in view of the volatility of cryptocurrencies, long transaction time and other factors, the US payment platform Stripe will stop supporting Bitcoin in April this year. Although this is a logical decision, it is likely to make cryptocurrency investors dissatisfied.

For those who regularly deal with Bitcoin, the problems with the cryptocurrency are hard to deny. First, it often takes several hours to enter blockchain transactions, which has become a huge obstacle to commercial transactions, and during this time delay, the price of Bitcoin may experience large fluctuations, resulting in a distortion of value.

As the price of Bitcoin transactions rises, transaction fees are also increasing, causing interference to merchants using Bitcoin.

As Tom Karlo of Stripe, which is seeing a sharp drop in bitcoin transactions on its platform, points out, the fact is that bitcoin has evolved into an asset rather than a currency, and is not suited to in-person transactions.

Stripe got involved in the cryptocurrency market in early 2014, when Bitcoin first broke through $1,000 and people began to take Bitcoin seriously. The company remains bullish on the cryptocurrency ecosystem, and, Callow wrote, Stripe will support and take a stake in the Stellar network.

TechCrunch, an American technology media, believes that Stripe's decision to stop Bitcoin transactions on April 23 is realistic and will help promote the decentralized development of cryptocurrencies. Bitcoin may decline, but cryptocurrencies will continue to exist. (Si Mei)