The bug bounty platform HackerOne has now implemented BitPay. With that, it becomes the first bug bounty operation to accept Bitcoin BCH and Bitcoin Core (BTC) from its clients around the world, among which are Starbucks, General Motors, Spotify, the US Department of Defense, Lufthansa and more.
In a company press release, HackerOne Chief Operating Officer and Chief Financial Officer Ning Want stated, “Many of our customers have come to rely on making payments in cryptocurrency as it is quickly becoming a popular payment method. It was important to us to continue to offer Bitcoin and Bitcoin Cash to our customers and we can do that through BitPay.”
By adding BitPay’s functionality to the platform, HackerOne can now receive international payments quicker than bank transfers. It also will result in lower costs, a reduction in fraud risk and faster bank settlements. BitPay transaction fees are only 1% of the transaction and confirmations are received in a single business day. With bank transfers, fees can be as high as $100 and can take up to a couple of weeks.
HackerOne is the world’s largest group of hackers and security experts, all working together to uncover software vulnerabilities for its customers. To date, it has reportedly awarded more than $35 million to hackers who have safely reported over 80,000 security vulnerabilities before they could be exploited. The company has its headquarters in San Francisco, and also maintains offices in New York, London, the Netherlands and Singapore.
BitPay’s Chief Commercial Officer, Sonny Singh, stated in the press release, “Using Bitcoin, HackerOne is now able to safely accept payments from clients in Asia, Africa and Latin America that would have been nearly impossible before. HackerOne has a great reputation of product innovation and accepting [cryptocurrency] payments is another example of that.”
BitPay has been around since 2011, pioneering cryptocurrency payments. It offers a digital asset wallet, as well as the BitPay Prepaid Visa® Card. It also facilitates cross-border payments for a number of businesses. BitPay has offices across North and South America and Europe, and the prepaid card is issued by Metropolitan Commercial Bank through a licensing agreement with Visa.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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