Do you want to spend cryptocurrencies without selling them? Bitpay Hodl is now available

Bitpay, one of the main payment processing platforms with cryptocurrencies, presented Hodl Pay, a service that allows users to access liquidity without selling their digital assets. Hodl Pay connects the decentralized finance ecosystem (DEFI) with everyday trade, specifically with the AAVE protocol, to facilitate payments with stablecoins backed by cryptocurrencies deposited as collateral.

Hodl Pay works through a simple process: users must have a supply position in AAVE, that is, cryptocurrencies deposited as a guarantee in this defi protocol. Thence, They can borrow Stablcoins such as USDC, DAI or USDT and use them to pay Bitpay billswhich include purchases to merchants, gift cards or service payments.

The service is compatible with popular wallets such as Exodus, Trust Wallet, MetamSkCoinbase Wallet or Electrumamong others, and use Walletconnect to connect them to the payment system.

The usefulness of this service is that it allows users to guarantee cryptocurrencies, which are volatile assets both up and down, to receive stablcoins. These stable assets They can spend without sacrificing cryptocurrencies that could generate profits in the futuresomething that would not be possible if they were sold. With Hodl Pay, users can complete any bitpay invoice.

«With Hodl Pay, you keep the property of your cryptocurrencies and, at the same time, you access liquidity. Selling withdraws from the market, while asking for borrowing allows you to keep your cryptocurrencies ».

Bitpay, payment service provider with Bitcoin.

Bitpay says that no responsibility for deposited funds or collateral or possible liquidations is assumed. And that the company acts only as an intermediary, facilitating the connection between users and the AAVE protocol, where loans and terms are managed.

«Bitpay does not lend Stablecoins or retains collateral. Loan management, collateral settlement and the repayment of the assets provided are carried out exclusively through the AVE protocol, ”says the company.

Founded in 2011 in Atlanta, Georgia, Bitpay is a company dedicated to payments with bitcoin and cryptocurrencies, and focused on transforming the way companies and people send, receive and store money.

Its infrastructure allows merchants to accept payments in cryptoactive without risks of volatility, since the service offers conversion of funds to fiduciary coins with liquidation the next day. It also offers a digital wallet to buy, store, exchange and spend cryptocurrencies.