When does Stripe accept crypto currency

Payment service provider Stripe no longer accepts Bitcoins

The hype about Bitcoin and other cryptocurrencies has been going on for months. You can find out from us why Stripe discontinues acceptance anyway.

The payment service provider Stripe was founded in 2011. The company now has around 900 employees and 25 locations worldwide. There has also been a branch in Germany since summer 2017. Stripe originally started accepting Bitcoins in 2014 as a cheap alternative to credit cards. Since the company's high hopes for the crypto currency have not been fulfilled, acceptance will end in April 2018.

The company justifies this step in a blog post with the fact that the crypto currency Bitcoin has developed more into an investment than a means of payment. Transactions in the Bitcoin network sometimes take several hours to be confirmed. In addition, due to the significant fluctuations in value, there are shortfalls if the payment is confirmed very slowly and the transaction fees are very high.

Product manager Tom Karlo said Stripe saw Bitcoin as a decentralized and inexpensive replacement for credit cards. However, since 2014 the company has noticed a decrease in customer interest in accepting Bitcoin payments. The companies that have previously processed Bitcoin transactions via Stripe also achieve significantly lower sales than before with the cryptocurrency. The world's largest gaming platform Steam also deactivated payment via Bitcoin in December 2017 for similar reasons.