The stuttering but undeniable digital currency revolution takes a huge step forward this week. Indeed in a very big week for Optimal Payments, having released news of the deal to acquire Skrill for in the region of $1.2b, they have announced they will now allow customers to use Bitcoin to top up their NETELLER® accounts.
The agreement sees Optimal linking to BitPay and in turn allow customers to convert Bitcoin into their chosen currency from those Neteller accept.
One of the greatest obstacles that Bitcoin faces generally is the fear of volatility. For an emerging economy unrelated or related events can often trigger significant changes over short periods. Previous attempts to get ahead of the game by certain Casino’s accepting the crypto-currency have been shown to be flawed, in part, due to this. However, Bitpay mitigates the risk of Bitcoin price volatility by allowing the merchant to accept Bitcoins and immediately convert them to the currency of choice.
In a frenzied week for Optimal Payments, CEO Joel Leonoff is quoted via the companies press release stating, “NETELLER already provides merchants and customers a broad and diverse set of online payment options and the addition of Bitcoin gives them another valuable payment method to help convert more transactions” he said, adding “We recognise the important role that crypto-currencies play in the future of payments and we look forward to working with BitPay as the acceptance rate grows.”
The take up of the usage of Bitcoin in online gaming markets has been slow but seems irresistible in time, and the integration of Bitpay as a tool in this regard would seem a great leap forward for both sides of the.. er..coin.
“Bitcoin’s popularity is growing rapidly and has established itself as the most secure, most widely accepted digital currency” said Sonny Singh, Chief Operating Officer, BitPay Inc. “This relationship with Optimal Payments will help us to drive merchant acceptance on a global scale.”
It should be noted however that at this time Neteller’s acceptance of Bitcoin is limited to a one way transaction. The company still doesn’t allow users to process Bitcoin withdrawals. Slowly, slowly it might be, but this day will come, we have little doubt.
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