Tuesday, January 28, 2020

Chess.com Resumes Accepting Crypto Payment

Avatar
Elizabeth Jamie
Jamie Elizabeth is a Mass Communication Graduate from the Philippines, knowledgeable in the field of cryptocurrencies, blockchain etc., currently enjoying freelance writing, and able to write anything under the sun.

Great news for chess players and crypto enthusiasts out there as the most popular online chess game– Chess.com will soon begin to accept crypto payments.

Chess.com Checkmates Bitcoin Payments

Due to the popular demand, Chess.com CEO Erik Allebest announced on his Reddit account, that the online game would soon implement crypto payments again for their subscriptions.

As further, two of its main crypto partners will be Bitcoin Cash (BCH) and BTC. Unlike its last crypto provider, the company of Bitpay was said to handle the payment method.

Request From The Masses

Interestingly, this announcement burst due to the passionate request of a one bitcoin supporter in Reddit profiled as r/BTC or Beijing Bitcoins. According to his post, after several direct messages sent to Allebest, the decision of accepting bitcoin payments was once again considered by the developers of the game.

“Chess.com used to accept Bitcoin payments but, like many other businesses, disabled the option. After some DMs with an admin there, I’m pleased to announce that they now accept Bitcoin Cash!”

Chess.com Already Marked Bitcoin In The Past

In 2015, Chess.com already tried to implement bitcoin payment on their subscriptions. Sad to say, the decision resulted in an unwelcomed audience and then, the management deleted this method of payment.

As explained by Allebest, their last crypto partner who was Coinbase, turned into an unsuccessful partnership which led to the online game to stop accepting cryptos.

“As for why we STOPPED originally – it’s because coinbase deprecates their payment links, and volumes had shrunken a lot anyway after the btc value correction.”

Although this decision excites most BCH fans, Allebest apologizes as the implementation may take a while as it seemed that their company has to submit to KYC first before the payment can fully be operated.

Still, Allebest stated that they would make sure that the implementation will begin soon.

“Anyway, I will get to it, but I have to say that this is a frustrating amount of bureaucracy, and I hope these KYC issues get resolved one day… Anyway, I personally remain a hopeful believer. And I will resolve these bitpay issues hopefully soon.”

Lots of Hopes After The Bearish State

Unfortunately, this continuous fight in staying the crypto fever on its feet seemed to be a difficult daily task. Since the market’s bearish state, several companies that once accepted crypto as payments gave up on the platform easily.

Now that Chess.com will soon raise their stand on the crypto market, a lot of hopes were beginning to regain– both for the crypto supporters and the crypto market.

Latest News

Bitcoin Eclipses $9,100, And Data Shows Institutions Are Only Just Getting Started

Bitcoin was one of the few assets heading higher this week as fears about the Coronavirus outbreak led a...

Cornerstone Joins Velocity Network Foundation to Shape the Future of Blockchain in HR

As a founding member, Cornerstone will collaborate with 14 other industry leaders to accelerate the development of a universal blockchain-powered network that will put...

Refundo Announces IRS and State Income Tax Refunds in Bitcoin Cash, Ethereum, and Ripple

KEARNY POINT, N.J.--(BUSINESS WIRE)--Refundo, a leading provider of tax-related financial products and services, is once again making federal and state tax refunds available in...

B2Broker Secures its Position as a PoP Liquidity Provider with Devexperts dxTrade

B2Broker’s customised version of Devexperts dxTrade combined with its technology and deep liquidity has culminated in an unmatchable offering in the industry. LIMASSOL, Cyprus--(BUSINESS WIRE)--#B2BX--B2Broker,...

$9,500 is Imminent For Bitcoin Despite 5% Intraday Gain: Here’s Why

Bitcoin gained bullish momentum above the key $8,800 resistance. As a result, BTC price surpassed $9,000 and it seems like the bulls are now...
- Advertisement -