BitPay Overview

*Economic Slowdown Update: U.S. and Canadian businesses may qualify for refunds of certain credit card and debit card processing fees. Visit this page to find out if your business can benefit.

A Processor for Bitcoin and Cryptocurrency Payments

BitPay is a virtual currency processor that specializes in enabling merchant accounts to accept Bitcoin payments from customers. The company also provides customers with Bitcoin wallets and cards. Founded in 2011 and headquartered in Atlanta, Georgia, the company has grown rapidly in the past few years. At the beginning of 2013, BitPay secured $510,000 in funding from various investors. By the end of 2013, the company received the backing of Horizon Ventures, an investment firm operated by China’s richest man. In late 2014, BitPay lost more than $1.8 million in bitcoin when its chief financial officer fell victim to a phishing scam. These losses do not appear to have been a breach of BitPay’s systems or a mass ripoff of BitPay users, but an isolated incident for which the company has paid a steep price.

Get Paid In Your Own Currency

One important detail about BitPay is that merchants can choose to be paid in real currency rather than in bitcoin. If the merchant chooses this setting, BitPay will accept bitcoin from online customers and then convert the transaction into real currency at a locked-in exchange rate. This means that as a merchant using BitPay, you can accept bitcoin from customers and still receive state-backed currency, not bitcoin, in your bank account. The service supports payout in 8 currencies and direct bank deposits in 38 countries, including two-day deposits via ACH in the United States. BitPay can be seamlessly integrated with Shopify and also offers plugins and POS integrations for online and retail merchants. The company has also recently launched a mobile bitcoin wallet and a reloadable bitcoin Visa card for consumers.

Mobile Wallet Hacking

In November 2018, BitPay warned its users about an infected code created to steal private wallet keys from people who use the Copay (its open-source wallet) app. A hacker was able to create a backdoor into the service by setting up malware in an open-source library that Copay was reliant on. Those using Android and iOS versions 5.0.2 through to 5.1.0 of its Copay app were most at risk and are advised to avoid opening the app again, to update their affected wallets, and to then transfer funds from compromised wallets to version 5.2.0 wallets. The company has stated that BitPay wallets were not affected by the malicious code.

BitPay Location and Ownership

BitPay’s headquarters can be found at 8000 Avalon Blvd Ste 300 Alpharetta, GA 30009-2467. Stephen Pair is listed as the co-founder and CEO of BitPay.

BitPay Review Table of Contents

  • Costs & Contract: BitPay charges 1% on all standard risk transactions but may enforce higher rates for high risk industries.
  • Complaints & Service: BitPay has received more than 30 public complaints.
  • BBB Rating: BitPay has a “C-” rating with the Better Business Bureau and has received 26 complaints in the past 3 years.
  • Sales & Marketing: BitPay does not appear to hire independent sales representatives and has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With BitPay

BitPay Video Introduction

Are you a decision maker with BitPay? Claim this review.

Products & Services Offered

  • Bitcoin processing
  • QuickBooks integration
  • Domestic currency settlement
  • 150 display currencies
  • Pay Now buttons
  • Mobile POS app

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce
  • International

Our unbiased reviews are supported, in part, by helping you find highly rated merchant accounts. You can learn more here.

BitPay Rates, Fees, and Costs

Key Points

Swiped Rate 1%
Keyed-in Rate 1%
Early Termination Fee None
PCI Compliance Fee None
Equipment Lease Terms None

A Lack of Typical Processing Fees

BitPay doesn’t require the use of Visa/MasterCard processing networks, so the service is able to completely bypass interchange rates and the usual fees associated with payment processing (including PCI compliance feesmonthly minimum fees, statement fees, setup fees, and chargeback fees). This allows BitPay to eliminate transaction fees and offer generous transaction limits to its users, which allows its rates to be competitive with some of the cheapest payment processing options.

Standard Risk Transaction Fees

For most standard risk businesses, BitPay charges a simple fee of 1% per transaction with no other fees. Users will receive multiple user support, email support, automatic payment exception handling, QuickBooks IIF downloads, and basic e-commerce and billing tools. Merchants who are operating in high risk industries may be charged higher per-transaction fees that will be disclosed upon account setup. Enterprise-scale merchants may be able to obtain lower pricing or priority customer support.

No Cancellation Fee, But Potential Fund Holds

BitPay’s legal terms contain a list of prohibited business types and information regarding the company’s reserve and termination policies. Merchants are free to cancel the service at any time without paying a termination fee, but they may experience fund holds at BitPay’s discretion. Bitcoin transactions cannot be charged back by customers, but they can be refunded in part or in full through BitPay with the merchant’s consent.

Are you happy with your BitPay fees? Tell us about them before your go!

Response from BitPay

Are you a representative of BitPay? Add your voice to this section for free!

BitPay Complaints & Customer Reviews

Key Points

Total Online Complaints 30+
Live Customer Support No
Most Common Complaint Poor Service

Moderate Complaint Total

There are approximately 30 negative BitPay reviews to be found online, some of which accuse the company of being a ripoff or a scam. Positively rated aspects of the service include its sleek interface and easy configuration, while its primary drawbacks appear to be fund holds and its complicated payment and refund procedures. Over time, the company appears to have become more restrictive with respect to the types of businesses it is able to serve. BitPay comes under fire from some corners of the cryptocurrency community because it has married bitcoin payments to fiat currency to serve standard markets, which necessarily limits the types of transactions it can facilitate.

BitPay Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against BitPay. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

BitPay Customer Support Options

BitPay offers email support to most merchants but may extend live support to very large companies, so merchants should be sure to evaluate how important it is to have live support for their bitcoin transactions. One of the most common BitPay complaints is poor, often unhelpful customer service, so it appears that BitPay’s support department leaves much to be desired, especially when compared to top payment processors for customer service.

Do you have a complaint or testimonial about BitPay? Make your voice heard before you go!

Response from BitPay

Are you a representative of BitPay? Add your voice to this section for free!

BitPay BBB Rating Summary

Key Points - BBB

Product & Service Complaints 19
Billing & Collection Complaints 1
Advertising & Sales Complaints 5
Guarantee & Warranty Complaints 0
Delivery Complaints 1

Over 25 Complaints

The Better Business Bureau currently gives BitPay a “C-” rating and is not showing accreditation for the company. There have been 26 complaints filed against BitPay in the last 36 months, as well as 5 which were closed in the last 12 months. 1 complaint was related to a billing or collection dispute, 19 stemmed from a product or service problem, 5 were due to an advertising issue, and 1 related to a delivery issue. 6 complaints were resolved to the satisfaction of the merchant, while 19 either were resolved to the merchant’s dissatisfaction or did not receive a final response from the merchant. 1 complaint did not receive a response from the company.

A “C” Overall

BitPay has also not received any informal reviews, although it is worth noting that these reviews are not subject to verification by the BBB. After weighing BitPay’s moderate overall complaint total against its increase in complaints and poor resolution efforts toward multiple complaints, we agree with the BBB’s rating of a “C.”

How has BitPay treated you? Tell us about it here!

Response from BitPay

Are you a representative of BitPay? Add your voice to this section for free!

Truth In Marketing & Advertising

Key Points

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms Yes

No Independent Sales Agents

BitPay appears to primarily rely on its website and traditional advertising methods to market its service. The company does not employ independent sales agents, and there are no BitPay complaints at this time that accuse the company’s sales team of unethical conduct.

Public Contract Disclosure

BitPay’s website also does not appear to utilize any deceptive rate promotion at this time. The company’s contract terms are fully visible on its website, so we will award it an “A” in this category. If you suspect that BitPay is charging you undisclosed fees, however, we recommend seeking a third-party statement audit to find and eliminate hidden costs.

Did you get what you expected from BitPay? Tell us why, or why not.

Response from BitPay

Are you a representative of BitPay? Add your voice to this section for free!

BitPay Marketing Example

Bitpay Logo

Our Opinion of BitPay

A Top Choice for Cryptocurrency Processing

BitPay rates as a low-cost, reliable bitcoin processing service according to most available criteria. The company is rapidly growing and relatively new, so merchants should anticipate changes (for better or worse) for the foreseeable future. BitPay is at the cutting edge of bitcoin acceptance and is the best option for many merchants and customers who are casually interested in exchanging virtual currency.

We rely on your feedback about BitPay to keep this review accurate and up-to-date. Please take a minute to tell us about your experience. We and the small business owners of this world thank you!

Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

Submit a Statement

  • Accepted file types: jpg, png, pdf, xls, xlsx.

29 Reviews Leave Your Review for BitPay Below

  1. anon says:

    Bitpay is Evil. Worse than credit card company stealing all your information about who you are and exactly what you buy from whom.


    Stay away like the plague. They will own you if you do business with them.

  2. Glenn HeryfordVery says:

    Very slow service as well as cheap cards ( not embossed) VERY hard to understand when speaking English.

  3. jonathan says:

    I deeply regret that day I registered as Bitpay card holder. Bitpay closed my account/card and has refused to release my $1,750. I work extremely hard to earned that money. I have called bitpay numerous times to issue a check or allow a temporary withdrawal, all to no avail. This should serve as a lesson to other bitpay users. This company is a fraud eating its users hardwork.

    This post will help: How to Make Your Payment Processor Release Your Money


    1. Edy pollard says:

      bitpay become scam, asks to be a member and also you must verify the account just to see invoice!!
      I can not used BitPay because they want to know the details of Skrill customers!
      this is not legal!

  4. Oleg Z. says:

    Whoever gave them B score is either paid or bot. This company doesn’t even understand corporate structures, making it basically impossible to even pass the verification if you are bigger than 5 people. How this can be a payment provider who doesnt even understand the concept of beneficiary owners?
    Looks like a joke to me.

  5. Jeddie Payne says:

    I was ripped off by Bitpay yesterday 6/5/19. I obtained a bitcoin address that was suppose to be attached to my wallet from bitpay. I had a merchant send $500 in bitcoin to my wallet. Bitpay was experiencing a glitch in their system yesterday which the admit occurred. As a result the money that was sent to my wallet entered my account at the time of the glitch but when the glitch was fixed the funds were no longer available. When a customer has issues with a company you should be able to reach out by telephone or face to face. Of course with bitpay you can never talk to anyone. The only thing you can do is email them and wait for a response which typically takes hours. Now in a nutshell they are telling me oh well. There isn’t nothing they can do. I am just out of $500 USD. If anyone know anything that can be done to stop this company or assist please advise.

    This post will help: How to Make Your Payment Processor Release Your Money


    1. Tom says:

      Unless they were outright stolen, you should not be out bitcoin. There should be a record on the Blockchain of it.

  6. Larson.Robert says:

    They are asking me 7$ fee on a 17$ transaction.. Worst bitcoin wallet ever seen

  7. whit says:

    I too have experienced nothing but problems with Bitpay Debit Card Cardholder Service. Money disappearing over night, hundreds of dollars in pre-authorize transactions that are either duplicate and had settled or who knows Bitpay Cardholder Services certainly doesn’t nor do they care.
    Allowing forced transactions with a zero balance, I dunno the list is too long. After 3 years and a nightmare Bitpay decides to deactivate my Cardholder Account, Thank You Bitpay !!! You did me a favor.. Stay Away From Bitpay !!!! that’s my new slogan.. Everyone pass it along..

    This post will help: Coinbase Review


  8. Jason says:

    Worst company to do bussunes, they close your account and will not give any reason why. Stay away from bitpay

    This post will help: Coinbase Review

    – Phillip

    1. David Graham says:

      They did the same thing to me. I made a significant deposit of crypto into BitBay and then they locked me out of my account with no explanation other than they said they are no longer serving Usa customers.I had to send countless photos to verify who I am and they still haven’t returned my assets to me. It’s criminal.

      This post will help: How to Make Your Payment Processor Release Your Money


  9. michael caires says:

    i had a negative balance of $244 due to a fraudulent charge. i called to check my balance and it was zero so i assumed the dispute was done and i won. i deposited $160 from my bitpay wallet to my card and they took the $160!! they saud it was showing zero because the bank charged off the balance. so basicly the bank got paid twice. the c.s agent and supervisir were zero help and got real rude to ne when i asked how can a bank take mobet from me on a zero balance? they saud well if it were me and $244 disappeared in air id call to see why i said i had a claim for the amount and figured the only way it would be zero is if i won my dispute. horible c.s and am closing my account after they stole $160 from me. a total joke company! Visa should yank their name off their card!!

    From The Editor
    This Post Might Help: Coinbase Review

  10. Daniel Daves says:

    Run for your life. I had a week of travel where airport baggage fees and coffee shops double billed me. I filed proper forms, receiving no response. I filed the forms 5 times in 5 months and finally Bitpay told me to stop filing the complaints. Many phone calls and emails later, they finally informed me that they couldn’t help me because too much time had passed – 6 months. They did not stand for me, they didn’t do their job, and they allowed double billing to go unchecked…there was absolutely nothing I could do. $700 in the hole – run for your life! Don’t use this company. They show no signs of being an actual credit card processing company that cares for their customers. They had all the tools at their disposal, and chose not to help me. No communication. Nothing…

    From The Editor
    This Post Might Help: Best Merchant Accounts for Great Customer Service

  11. aggravated says:

    Signed up, they take your money quick, and then state they can’t confirm I am me saying I recently moved, even though I lived at the same address for 13 years. Don’t bother signing up, it’s a trap, they take your money and run.

  12. Steve Winter says:

    People need to be warned about the incompetence of Bitpay support!!! It is outrageous!! I lost about $2000 due to Bitpay incompetence!!! Their incompetence is truly astounding!!! Especially their support person Dana! I am trying to get someone competent to take over my ticket. I lost around $2000 due to astounding Bitpay incompetence.

  13. Lc says:

    BitPay is a rip off don’t use them. They have huge fees when you try
    To use your currency and they make it impossible to get it back.

  14. siri khalsa says:

    three weeks been trying to get my money back the worst company i’ve ever dealt with theft of my money i didn’t even have anything to do with this shitty company and they stole my money tried to purchase gold from ampex and bitpay ended up with my money three weeks of run around wont call me keep e mailng me butt wont do anything about it absolutely the most infuriating experience ive ever dealt with not sure ill ever see my money now

  15. Martin says:

    They were good now they are scamming. They charged me a $20 network fee and $71 miner fee to load my card. Even though the bitcoin was sent to my bitpay wallet for about $23 in transaction fees, I have the txid for proof. They confirmed in less than 20 minutes. Yet bitpay wants $70 in transaction fees because of the network congestion, fucking scam artists!

  16. Whit Ratliff says:

    I have BitPay wallet, I initiated a transfer of coin from my wallet to merchant using custom fee base rather than BitPay suggested rate. The result is BitPay will not Broadcast the transaction thus it can’t be mined. I find this practice unfair and suspect. Why ??
    My decision to use custom fee should have no bearing whats so ever on transaction Broadcast. Explain to me how you justify your failure to act..

  17. Carlos says:

    Idc what the other people say this company is the worst to do ANY business with they dont actually give back your bit when asked for refund they keep it

  18. john Johnes says:

    STAY AWAY FROM THIS COMPANY!!! Their customer service is terrible and when you load your card, it takes months to get your money.

    i’ve warned you and everyone!!!

  19. John L. says:

    I wrote a review letting people know to stay clear of the Bitpay Visa, it has been a little over 4 months and 39 emails sent to Bitpay asking for there help on trying to resolve a problem with funds “Bitcoins & Dollar’s” not being credited to my account, I have noticed that when I go to make a purchase on occasions my card is declined for no specif reason so I have to pay someother way, BUT, the funds are still withdrawn from my bitpay visa, when I first discovered this I was floored and clled them only to be told that they could neither verify if this was true but asked me to check my account in 10 buisness days to see if rh funds had been returned, then that 10 days turned into 30 days, and now it has been over 90 days and still now answer, the emails I sent asking for help tell me I will be contacted in 24 to 48 hours that is as far as it goes with getting any assistance from them, it is always the same generic response, and no folly up after that, I am missing over 3,700.00 dollars from my account that needs to be refunded by these criminals, I called the better business bureau to let the know that Bitpay, is saying that they are a member of the BBB and were given an A rating, the BBB told me that they were not a member and that this was a common practice that retailers but there was nothing that they could do about it, I couldn’t believe my ears, so what good are they then it sites like Bitpay can make up there own reviews?, I would recommend that if you are looking for a Bitcoin visa card try a different company de to there deceptive nature, poor customer service, and there is no telephone number for Bitpay to resolve issue,and yes they have email for bitpay but they will only reply with a generic response promising that someone will be in contact within 24 to 48 hours, and they also recommend trying there FAQ page, and that is the extent of there customer service. Calling it customer service is a joke the bottom line is Bitpay has customer service on name only.

    Since I have had no luck getting any type of answer I am going to seek out legal advice on how to proceed. I will keep this page updated.

    If this helped you in anyway please consider making a donation, it is greatly appreciated.

    btc. 1QFs7D6yQ6mf6JSUpj4WnPo4kkLHSfKJcW

    bch. 1C7x56px9y1uTyMTHT5xvmWNFu43gfRC51

  20. Gene Holland says:

    The currebt BBB rating of Bitpay is D (not A).

  21. isomantium says:

    Bitpay is the absolute worst. The verification process is a nightmare. After uploading documentation multiple times, the verification process still failed. The failure reasons make no sense to human beings either. After contacting support, they simply copied and pasted a generic response and never even investigated why the verification was failing. After a number of follow up emails, I have had no feedback. It’s been 24 days now and I have had no response even after requesting a refund. AVOID THESE PEOPLE AT ALL COSTS. THEY DON’T CARE ABOUT YOU.

  22. John L says:

    Be very careful with Bitpay, like most people I liked it at first but then funds started disapearing out of my account and charge backs “refunds” never showed up on my card, I have written Bitpay 8 times and have not received any response fro them besides the generic response stating that they are looking into it, and I would receive a response within 2 to 3 business days, so I tried finding a phone number for them, but there is none, no way to contact them at all, this company seems to be criminal in nature and would recommend for anybody thinking of joining to try another card company,
    Another thing I noticed Bitpay says they belong to the BBB…. WRONG, they do not, so how can the have a A rating if they do not belong to the BBB? in my opinion this is typical of Bitpay, they are very deceptive and border on criminal.. this company need to be shut down.

  23. Cryptonought says:

    Took best part of one week to receive a reply from customer service query. Then they didn”t answer why my wallet always receives considerable less money then entered. Don’t trust this company

  24. Tyrus Osburn says:

    This review is for the Bitpay Visa Debit Card, at first I loved having a card that allowed me to cash out my Bitcoins to. Until…
    They completely without any stated reason crapped on me! In Dec. 2016 I was notified by Bitpay that my card had been suspended pending Identity verification, which was all instigated by somebody fraudulently trying to link their Coinbase account to my card, this after nearly $1200 worth of Visa purchases were made to Coinbase fraudulently from my Bitpay Visa card, so naturally I made it clear to bitpay agents that I did not make these charges, at which point I was told to outline every charge that wasn’t mine and email the support dept. Along with these charges I was told that my account would remain suspended pending identity verification, and was informed which documents would be required to prove my identity. At this point I uploaded my ID a selfie holding my ID, my SS card, tax documents, and proof of address documents, (recent bills) all of which I submitted acordingly. After review I was told that my account was going to be closed. I was ok with this thinking that I would get a new card and account for the bad charges, and I awaited further instructions. The only thing that came from Bitpay was an explaination that since my account was closed that I was unable, or did not qualify for submission of any kind of dispute for fraudulent charges??? Are you guys serious?? Now what do I do?? about these charges. I have tried numerous times to contact Bitpay to no avail. & then on another note I have tried to contact coinbase to recover these funds, and that is whole other complaint in itself, since they truly have NO BODY that you can actually talk to about ANYTHING! If there is anybody out there that sees this please take caution when signing up with Bitpay as you can see from my situation. They simply closed my account instead of taking my claim for a dispute against fraudulent charges, this in my opinion is borderline criminal, as if them and coinbase have some sort of working relationship or something, I don’t know I can’t get help from either one of them at this point, I have been left out in the cold on this one, It is quite frustrating since these charges total over a thousand dollars worth of charges that I did not make!!

  25. Phil Jones says:

    I have started a thread on bitcoin talk for scamming me. The invoice expired and you still haven’t paid the bitcoins and are making false statements.

    Please refund my bitcoins now….

    Bitpay invoice that expired

    Funds lost 0.010485 to address 19RRWPXH64kfPkZAJZjTqZopeoewJquHAC

    Blockchain proof that bitcoins were sent


    Bitpay Invoice URL that expired

    Bitpay wallet address for refund

    1. Alex Hilleary says:

      I too tried to use Bitpay to buy an Egifter gift card. My transaction appears to have “disappeared” in the sense that Bitpay has no further record of it. The initial page after I initiated transaction said that I was using a “low fee” wallet (i.e. blockchain). My Txid:

Leave a Review for BitPay

Your email address will not be published. Required fields are marked *

Please do not use profanity or ALL CAPITAL LETTERS in your review. Reviews must provide a detailed account of your experience. By submitting a review or comment to CPO, you are agreeing to our Comment Policy.