Today, CheapAir is confronting a very important test to its capacity to keep accepting payments in Bitcoin. This is because Coinbase, the company’s Bitcoin payment processor, will not be converting the company’s Bitcoin holdings into fiat cash anymore. Henceforth, CheapAir will not be able exchange their Bitcoin holdings, leaving them scrambling for an alternative.
CheapAir began accepting Bitcoin when one of its clients asked whether he could use the digital money to pay for a flight. Presently, CheapAir is approaching its clients for help in finding an answer to the problem at hand.
In a letter addressed to its Bitcoin clients, dated April 20, 2018, Klee portrays the present circumstance with respect to the Coinbase issue and highlights some plans s to enhance and grow Bitcoin-based exchanges, including CheapAir’s goal to accept extra digital currencies, for example, Bitcoin Cash, Dash, and Litecoin.
Moreover, CheapAir wants to help its clients by setting up telephone and email services staffed with advisors who have knowledge about digital currencies. It additionally plans to automate many processes relating to Bitcoin exchanges.
In addition, the letter reports that CheapAir expects to use BitPay as its new processor. One fundamental hindrance, though, is that BitPay doesn’t support wallets that are not BIP-70 compatible.
In particular, CheapAir’s letter asks clients the following inquiries: Do you buy from other BitPay merchants? Do you find the BIP-70 wallet requirement to be reasonable or too onerous? Candidly, would this make you more or less likely to do business with us?