Domain name giant Namecheap has set up Bitcoin lightning on its platform as a method of payment. The company was the first major domain registrar to accept Bitcoin from its customers in 2020.
In response to a Twitter user request for Namecheap to accept payments via lightning, the firm's CEO, Richard Kirkendall, tweeted, "We have it set up already, just need to get it into production one of these days."
Kirkendall also tweeted that Namecheap has already received "190,000 real commerce transactions since we launched about 1 year ago. BTCpay for the win."
A statement on the company's website reads, “We're delighted to inform you that we now accept the Bitcoin payment method, in addition to PayPal, Visa, Mastercard, and American Express."
Namecheap says it had been receiving requests to accept Bitcoin payments for months from its tech audience. The company has paired with BTCpayserver to integrate Bitcoin payments with its platform one year ago Friday.
On Namecheap’s website the Bitcoin payment page reads: “Bitcoin is a decentralized P2P currency that enables instant payments. Use Bitcoin to purchase domains, web hosting, SSL certificates, or domain privacy on Namecheap.”
Namecheap’s adoption of Bitcoin aligns with its mission to “Innovate and respond to threats and challenges in the online space. [. . .] We consider ourselves the pioneers in the space in innovation and freedom.”
The move comes at a time when more and more software companies and traditionally conservative institutions venture into the Bitcoin market via payment solutions or direct investment as the demand for them grows.
Strategically, the companies who buy Bitcoin or accept it for payments to hold it in reserve will be at an advantage over those who do not. As Bitcoin adoption spreads to outpace its gradual deflation, and US dollar inflation increases, latecomers will find themselves buying in at a much greater price.