Bitcoin Payment Update

Update: Important Notice as of 12/23/2017

Please note that the $100 purchase minimum required by BitPay has been removed for Bitcoin purchases and changed back to $5.00.

The requirement for “Payment Protocol” Compatible Wallets remains in place. Please see below for more information on “Payment Protocol” Compatible Wallets.

The Minimum Payment Amount for Bitcoin has been Raised to $100 and Now Require “Payment Protocol” Compatible Wallets for Bitcoin Transactions.

Our bitcoin processor, BitPay, has raised the minimum payment amount to $100 on all bitcoin transactions. According to BitPay, they have done this because the bitcoin network has been seeing record transaction volume in the last few weeks. This growth has also led to record network congestion and record-high bitcoin miner fees.

To protect purchasers and to continue to offer service for bitcoin payments, BitPay is now requiring a new invoice minimum payment amount of $100 on all BitPay invoices.

For more Information on the minimum bitcoin payment amount, please see BitPay’s article, “Why We’re Updating the Minimum BitPay Payment Amount to $100.”

Please Note: If you are looking to buy gift cards with a lower minimum for the holidays, you can buy an eGifter Choice Card™ and use that to buy individual cards at a lower value.

BitPay now requires “Payment Protocol” Compatible Wallets for Bitcoin Transactions.

Effective immediately, the Bitcoin Payment Protocol is required for all transactions. Only Payment Protocol-compatible wallets can be used.  According to BitPay, this change is meant to protect you from over- or under-paying on your transactions, sending your payment to the wrong address, or sending a miner fee that is too small.  Using this protocol, payments with such errors will never reach the bitcoin network, and you won’t be charged miner fees for failed transactions.

For detailed instructions on how to pay without a bitcoin address (using a Payment Protocol Wallet), check out this Support Article on BitPay – https://support.bitpay.com/hc/en-us/articles/115005559826

While eGifter does not endorse any specific wallet, here are some examples of Payment Protocol compatible wallets: BitPay Wallet, Copay, Electrum, Mycelium, Bitcoin Core (Satoshi client), and BitX. For more information on compatible bitcoin wallets, please see the BitPay’s Bitcoin Wallet Comparison.

If you are not using one of these wallets, and have had an issue making a bitcoin payment recently, this may be the reason.

Lastly, due to popular demand, we are planning to add other payment options in the very near future!

We apologize for any inconvenience and thank you for choosing eGifter.

Regards,
The eGifter Team

Written by eGifter