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CryptoUnits - 1539+ Best Cryptocurrency Websites & Bitcoin Sites List of 2023!

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BTCPay Server

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About BTCPay Server: Open-Source Bitcoin Payment Solution

BTCPay Server is an open-source software that empowers entities to accept payments in Bitcoin. Launched in 2017, this project is relatively new in the cryptocurrency landscape. The server is compatible with the Bitpay API and serves as a free-to-use resource, primarily targeting merchants. On GitHub, the project demonstrates a degree of activity, boasting over 30 contributors and over 100 forks.

One of its prominent features is the ability for merchants to accept payments without incurring fees. This sets it apart from many other merchant service providers that charge substantial fees for similar functionality. For example, companies using BitPay for payment processing face a 1% fee on all accepted transactions, in addition to the standard mining fee for processing blockchain transactions.

BTCPay Server also offers support for various altcoins, including Litecoin, Dogecoin, and Dash. The code encompasses essential features of the Bitcoin network that some other services may lack support for. These features include Lightning Network, Segwit (Segregated Witness), and granting users complete control over their private keys. Implementing the project requires technical knowledge, and documentation for implementation is readily available on the project's GitHub repository.

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Pros & Cons

  • Open-source initiative facilitating Bitcoin payments for merchants
  • Compatibility with the Bitpay API
  • Free-of-charge usage, potentially saving merchants on transaction fees compared to other services
  • Support for select altcoins
  • Integration of the Lightning Network
  • Incorporates Segwit (Segregated Witness) support
  • Project initiated in 2017, relatively new
  • Demands a level of technical expertise

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