With Coinbase shutting down the account of the WikiLeaks Shop, it has become apparent that other companies are rethinking their relationships with the service as well. CheapAir has made it clear that it is more than willing to switch Bitcoin payment processors in the future, depending on how the current situation evolves.
CheapAir Isn’t too Happy with Coinbase
It is already difficult enough to get companies to accept Bitcoin and other cryptocurrencies these days. Those problems are only compounded when dealing with Bitcoin payment processors which seemingly decide to shut off specific clients for no apparent reason. The recent Coinbase-WikiLeaks saga illustrates that point perfectly.
It seems the Bitcoin payment processor’s decision has forced other companies to take a closer look at their current situations. Although CheapAir has accepted Bitcoin payments since 2013, the company is keeping a close eye on current developments in this industry, including what Coinbase is doing.
CheapAir has issued a letter to its customers explaining the current situation. One of the challenges facing the company is the fact that Coinbase will no longer support “custodial” solutions for merchants. Additionally, CheapAir will no longer have access to some of the tools currently used to accept Bitcoin payments on its website.
Due to this unforeseen turn of events, CheapAir is now forced to adapt. In an effort to solidify its position in the industry, the firm has already begun experimenting with cryptocurrencies other than Bitcoin. Some of the currencies that are of great interest to CheapAir include Bitcoin Cash, Litecoin, and Dash.
However, it is possible the company will need to embrace a completely different cryptocurrency payment processor in the future. CheapAir says it’s currently looking for a reliable processing partner, and it seems BitPay is the favorite as of right now.
Unsurprisingly, CheapAir has already been working on integrating BitPay support behind the scenes. While the process is not yet complete, things are certainly headed in that direction. There are still some concerns in regard to this choice, as BitPay doesn’t support non-BIP70 compliant wallets.