BitPay
reviews and complaints

To whom it may concern,
*** has been in contact with BitPays Customer Success Team, and we believe we have provided him with the correct information on his issue and issued some credit to his account. This credit was to cover fees that he wasnt expecting though were appropriately communicated by BitPay.
Our debit card product allows customers to load their debit card using cryptocurrency and spend at any retailer that accepts credit cards, not just those that accept cryptocurrency. This debit card does have fees associated with it; those fees for our current card product are documented here: (bitpay.com/card).
When *** had a BitPay debit card, we charged a $5 inactivity fee for accounts per our card agreement.
*** contacted BitPays Customer Success Team; we credited him for three (3) of these inactivity charges as a courtesy and shared additional information about those fees on an email dated 7/20/2020. He closed his account shortly thereafter and a check was sent to him with the account balance.
At BitPay, the success of our customers is very important to us, and we regret any challenges that *** had with his BitPay debit card. He may feel free to reach out to me directly at *** with further questions.
Sincerely,
***;
VP, Customer Success

Business Response BitPay does not sell cryptocurrency directly. We partner with a third party (a reseller) and resell their services in the BitPay app. Mr *** should contact the provider used to make the purchase (either Simplex and ***) in order to submit a claim and pursue a refund. He can contact *** (Simplex) or ***@wyre.com (***). Contact information for both of these partners is also disclosed in the BitPay app (he must have also missed seeing this). Please note, we have no reports of outages or operating issues with the app referenced by Mr ***. For context, we process hundreds of thousands of transactions for millions of customers. Business Response BitPay does not sell cryptocurrency directly. We partner with a third party (a reseller) and resell their services in the BitPay app. Mr *** should contact the provider used to make the purchase (either Simplex and Wyre) in order to submit a claim and pursue a refund. He can contact *** (Simplex) or ***@wyre.com (Wyre). Contact information for both of these partners is also disclosed in the BitPay app (he must have also missed seeing this). Please note, we have no reports of outages or operating issues with the app referenced by Mr ***. For context, we process hundreds of thousands of transactions for millions of customers.

Business Response Hello, BitPay was not able to locate any inquiries under the name ***. If you are having issues signing up for our services, please contact us directly at *** Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) I do not accept this response because they finally did reply to me, so they have lied about not finding my account it is highly suspicious that after they got the compliant my account magically has moved forward, this is truly concerning as I have seen another complaint, and if this is the way this company is doing business, purposely ignoring consumers until they reach action close to legal they should not be in business at all. My name may be *** Wild under but I know for sure they have my email sheapluscoconut.com for sure...-_-. Consumer Response They closed my account per my ask.

Business Response We are currently looking into this report.

Business Response Upon our investigation, a dispute was filed and a corrective credit issued to the customer account on 7/1/2021. This matter is closed. Please understand that this issue was between the customer and the merchant (a hotel) and any delay was a result of the merchant investigating whether to issue a credit to Mr ***.

To whom it may concern,
Mr. has been in contact with Bitpays Customer Success Team on a number of occasions, and we believe that his issue has been resolved completely.
On December 8th, a chargeback was issued to the merchant, with provisional credit back to Mr. debit card posting on December 22nd, 2022.
On February 17th, 2022, the chargeback was finalized in favor of Mr. and the provisional credit was made permanent.
At Bitpay the success of our customers is very important to us, and we regret any challenges that Mr. had with his Bitpay debit card. He may feel free to reach out to me directly at *** with further questions.
Sincerely,
***
VP, Customer Success

Business Response BitPay is a cryptocurrency payments service provider and also provides a downloadable and non-custodial cryptocurrency wallet. As a company, BitPay takes its legal, regulatory and ethics obligations seriously. Contrary to the consumer's complaint, BitPay has responded repeatedly to his correspondence, explained why the consumer's allegations are technically not possible, urged the consumer to contact law enforcement and/or seek technical computing support because the consumer's computing device seems to have been compromised, and also provided the consumer with information, which BitPay researched on the consumer's behalf, from the Bitcoin blockchain about the wallet addresses to which the funds from his wallet were sent (both the initial wallets and subsequent wallets that were sent ever smaller sums in a manner that suggests the recipient was attempting to obscure the source of those funds). Not only has BitPay attempted to HELP this consumer by providing useful insights from the Bitcoin blockchain that might assist law enforcement, BitPay has repeatedly explained that (a) the BitPay wallet is a downloadable, locally-hosted piece of software (not an account or cloud software), (b) that BitPay has no access to any passcodes, recovery codes or any other way to access the funds held in any user's BitPay wallet, (c) that there is no two-factor authentication for the BitPay wallet (one can establish multi-signature security, which is different), and (d) that establishing a BitPay ID dashboard on bitpay.com, for which two-factor authentication is possible, is in no way tied to or integrated with any BitPay wallet. Simply put, BitPay had no way to misappropriate this consumer's funds, and there was no fault in the wallet that caused a loss of funds. Instead, someone who had access to the consumer's wallet sent the funds to other wallets. BitPay is sorry for this consumer's apparent loss, but it is also not responsible for that loss. BitPay recommends that the consumer contact law enforcement. Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) As a direct and proximate result of their tortious conduct, which as clearly shown, involved unwarrantable failure and foreseeable conflicts of interest that would be antagonistic to clients, I have sustained and continue to sustain substantial injuries, which include, but are not limited to: financial loss, humiliation, embarrassment, severe mental and emotional distress, and discomfort, all of which amount to my damage which totals in excess of what I have transferred to their Company in the first place. Having reviewed the email, I must advise at the outset I am nonplussed as to how my detailed and thorough representations generated such nonsensical reply. This is a pure example of misadministration. I am afraid that I have had to go through so much "red tape" thus far in order to catch their attention to my concerns. This really doesn't show their complaints department in a good light, to say the least; and certainly does not contribute to my overall satisfaction and peace of mind. Furthermore, I would like to address some cardinal points here as it is very essential to me that they become aware of the ordeal I have had to go through. 1. March 31, 2020: I am aware of setting up a Bitpay ID account which was never activated. In either event, it's irrelevant because it was on the Bitpay webpage, which as they've stated prior is totally separate from their Bitpay wallet app. 2. August 20, 2021 - Yes: I did set up a Bitpay wallet. At that time I could open my wallet and operate, without a 12-word backup phrase to open the account. Sometime between August 20, 2020, and March 9, 2021, the "Incident Loss Date" of the Bitpay wallet app changed its policy on how to set up a wallet. Presently, you cannot open a wallet "without" the 12-word phrase back up now, on this platform. It was made mandato1y by BitPay sometime after Aug 20, 2021, for new clients. Also, why was I not notified that the wallet sign up system had changed? If I had been notified, I would have had to put the 12 words backup phrase in. It would be reasonable to accept that when Bitypay wallet added the feature of"no wallet without a 12-word phrase" they would have notified or blocked all transactions in and out of prior clients wallets. Obviously, all parties including myself would then have to add a 12-word backup phrase. Bitpay is liable for this oversight, and it clearly appears as though some sort of "Trap" is in place. Bitpay should have made it 100% mandatory to have a 12-word backup phrase to open any wallet at any time. I was not given such notification on August 20, 2021, nor at any time after! 3. March 9, 2021: When their 2 apps dysfunction and took my wallets, my bitcoin was gone. Furthermore, where has my 10.28 bitcoin gone? They have it and refuse to find it and return it because of a technicality! That's ridiculous and totally unacceptable. They have my 10.28 and won't give me access to it because of their oversight, not mine. 4. March 10, 2021: No one would know the webpage app and wallet page app were totally separate. How would anyone know! Experts don't know either! We set up 2-factor authentication, thinking the webpage app and wallet app were connected. A reasonable assumption. We found out after my wallet disappeared with the 10.28 bitcoin in it, that they are separate platforms with exactly the same BitPay name. In conclusion, it is clear to me the following: I am a client who had $650,000 USD on their wallet app. That is a huge amount of money. My Life Savings! It is gone. Bitpay keeps denying to help aid or look for my bitcoin. Where is it? I deserve to know where? I know they have it somewhere in their system. Bitpay has a ve1y unprofessional and undisclosed system where rules were changed along the way for wallet holders. This I'm sure caught many clients "in their trap" that they have definitely benefited from. In fact, they were aware of this and changed the system to the 12 words backup requirement to open a wallet. They didn't let prior clients know the rules had changed. I find that unacceptable and completely unbelievable, illegal and immoral. their (2) BitPay apps or platform: Webpage Wallet Appear interconnected in nature, named the same, and therefore can be confused as one. Even by the most experienced of IT operators. Why would they do that? As demonstrated above, not only have they failed to fairly and adequately protect my financial interest, to begin with, they continuously turn a blind eye to known facts which further indicates the loss incurred has resulted from various manipulation tactics and through the breach of obligations and legally binding requirements. In sum, I am convinced that they have taken advantage of my lack of understating and vulnerability in this subject, and left me in a terrible financial position. If they are unable to consider this position in a logical and commonsense way I will be forced into a position of criminal proceedings against BitPay. Bitpay activities have caused me to not have access to my 10.28 bitcoin. Return it or come up with a resolution? I am keeping faith that your Organization. Sincerely, *** Business Response BitPay is sorry that this consumer seems to have lost cryptocurrency. BitPay never likes to learn of anyone's loss of cryptocurrency. That said, the mere fact that the consumer stored cryptocurrency in a BitPay wallet does not make BitPay responsible for the consumer's loss. BitPay did not take, misappropriate, or cause the loss of any of the consumer's cryptocurrency. BitPay neither had nor has any way to access or take the consumer's cryptocurrency and neither has nor ever had the consumer's cryptocurrency. The BitPay wallet is a locally-installed and stored, non-custodial wallet. While the wallet is software, it is not an account and it is not hosted in the cloud. BitPay does not have access to the wallet, the private keys, passphrases, backup copies or cryptocurrency. Non-custodial wallets are the software equivalent of a leather wallet that can be purchased at a department store. Just as the wallet manufacturer and department store are not responsible for lost leather wallets, BitPay is not responsible for the security and integrity of the devices on which consumers install BitPay wallets, nor the private keys, passphrases *** backup copies that consumers may establish for their BitPay wallets. BitPay can no more prevent a consumer's device from becoming compromised than a leather wallet manufacturer can prevent a consumer from misplacing their wallet. Contrary to the consumer's allegations, BitPay has required wallet users to establish a 12 word private key since before the consumer downloaded their BitPay Wallet. The wallet backup process and private keys are discussed at length in this article dated September 13, 2017: https://bitpay.com/blog/private-key-security/. Moreover, the private keys are also expressly discussed in BitPay's Wallet Terms of Use, which date from January 28, 2018, and that the consumer accepted. Even if, for the sake of argument, the consumer somehow was not required to establish the 12 word private key, BitPay is still not responsible for the consumer's wallet. The private key is not critical to the use and operation of a cryptocurrency wallet. It is an additional level of security to prevent losses in the event that a consumer's device is lost or fails (e.g., hard drive fails, device is destroyed, etc.). The private key enables a wallet holder to restore a lost wallet, nothing more. Moreover, BitPay previously attempted to help this consumer learn what happened to the lost cryptocurrency. BitPay requested, and the consumer provided, transaction ID numbers for the consumer's original purchases of cryptocurrency from an exchange. With this information, BitPay was able to trace the consumer's bitcoin in the blockchain. What BitPay learned, and shared with the consumer, is that the bitcoin was sent from the consumer's BitPay wallet to a different BitPay wallet, and then sent on in smaller and smaller amounts to yet other wallets. To be clear, BitPay does not own any wallets involved and cannot ascertain who owns the second BitPay wallet or any of the other wallets in this chain of events. The results strongly suggest that the consumer's device was compromised such that a malicious actor was able to access the consumer's wallet and send the cryptocurrency to yet other wallets. BitPay performed this investigation, which required significant effort, as a courtesy to the consumer. Notwithstanding these facts, which were previously shared in direct correspondence with the consumer, BitPay also notes that the consumer accepted BItPay's Wallet Terms of Use (available at bitpay.com/legal/terms-of-use). These Terms were posted on January 28, 2018, and were therefore the very terms accepted by the consumer when the consumer subsequently downloaded and installed a BitPay wallet. These terms unambiguously state that the consumer is responsible for deciding whether to use the BitPay wallet, and for maintaining the security and integrity of both the device(s) on which it is installed and the wallet itself. The Terms state: "Your use of this Software is at Your own discretion. . . . You are responsible for safekeeping Your passwords, private key pairs, PINs, and any other codes You use to access the Software. IF YOU LOSE ACCESS TO YOUR WALLET OR YOUR ENCRYPTED PRIVATE KEYS AND YOU HAVE NOT SEPARATELY STORED A BACKUP OF YOUR WALLET AND CORRESPONDING PASSWORD, YOU ACKNOWLEDGE AND AGREE THAT ANY CRYPTOCURRENCY YOU HAVE ASSOCIATED WITH THAT WALLET WILL BECOME INACCESSIBLE. . . . BitPay Inc. cannot retrieve Your private keys or passwords *** You lose or forget them." "THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND. . . . IN NO EVENT SHALL . . . BITPAY INC. BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE." BitPay sympathizes with this consumer and the consumer's loss and has taken this matter seriously. BitPay has investigated the allegations and has provided the results of its research to try and help the consumer get to the root of the issue. Unfortunately, the consumer continues to bark up the wrong tree. BitPay did not cause this loss and is not responsible for this loss. While BitPay does not want anyone to lose cryptocurrency, it also cannot insure BitPay wallet users against matters beyond BitPay's control. Once again, BitPay encourages the consumer to contact law enforcement and to seek an investigation into whomever misappropriated the consumer's cryptocurrency.