Payment processor Stripe ends support for Bitcoin, citing high fees and slow confirmations.
Stripe is an American technology company developing solutions for operating and processing online payments. The Stripe company was founded by the Collison brothers — Patrick and John — in 2011. The Stripe payment application is also available for mobile devices. Stripe’s Bitcoin involvement started in 2014, when the company experimented with the support of Bitcoin for the first time. In 2015, it was announced that Stripe would be accepting Bitcoin, so users could perform payments and money transfers using cryptocurrency in the same way as using fiat currencies. Stripe’s instant payouts and low fees have gained popularity among its users. However, in 2018, after three years of working with cryptocurrency, the company announced that it is officially winding down its integration with Bitcoin. Stripe founders and partners believe that Bitcoin works much better as an asset.
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