A new cryptocurrency exchange called BitPay announced that it will be accepting Bitcoin payments on Monday.
In a statement, BitPay said it will now allow users to buy or sell Bitcoin with Bitcoin using its own digital currency called Bitcoin Cash.
“We’re proud to be the first digital currency exchange to accept Bitcoin payments, and we’re excited to bring the convenience and privacy that Bitcoin offers to our users,” the company said.
BitPay’s announcement comes as Bitcoin’s price has skyrocketed and is currently trading at more than $1,400.
This week, it hit a high of $1.1919, which is higher than any other cryptocurrency in the world, according to CoinMarketCap.
Bitcoin Cash, on the other hand, is a newer and more volatile digital currency, trading at around $1 to $1 (or more) per Bitcoin.
It is backed by the Bitcoin network, which was created in 2009 by a group of computer scientists working under the pseudonym Satoshi Nakamoto.
According to a statement by Bitcoin Cash developer Charlie Shrem, BitPagos founder and CEO, Bitpesa, is not a company in any way connected to Bitcoin.
“As a decentralized digital currency we don’t believe it’s possible to have a central authority that owns a token,” Shrem wrote in a blog post.
“We are open to any discussion, debate and innovation within the crypto community.”