Moreover, fewer online merchants wanted to accept the cryptocurrency, it added. Rising fees and longer transaction times as a result of price fluctuations also lessened its appeal, the company continued for BBC. According to a company’s representative “for a regular Bitcoin transaction, a fee of tens of US dollars is common, making Bitcoin transactions about as expensive as bank wires”. In conclusion, Stripe said it would start winding down its support for Bitcoin immediately and would stop all transactions by 23 April 2017.
However, it said its decision to end support for Bitcoin payments did not mean it was giving up on cryptocurrencies all together, and sees “OmiseGO an ambitious and clever proposal; more broadly, Ethereum continues to spawn many high-potential projects”.
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