Bitcashpay (old): Decentralized Payment and Integrated Financial Services Platform

The Bitcashpay (old) whitepaper was written and released by the core project team between late 2020 and early 2021, aiming to address the pain points of insufficient cryptocurrency adoption in daily payments and financial services, and to explore building a comprehensive decentralized finance ecosystem.

The theme of the Bitcashpay (old) whitepaper can be summarized as “providing blockchain solutions for every cashless transaction.” What makes Bitcashpay (old) unique is its integration of multiple decentralized financial services such as lending, staking, wallet, and payment systems, and its enhancement of user experience through AI integration, aiming to make cryptocurrency a part of everyday life; the significance of Bitcashpay (old) lies in providing users with the convenience of accessing funds and conducting real-time transactions anytime, anywhere, and in lowering the barriers to cryptocurrency usage.

The original intention of Bitcashpay (old) was to create a payment and financial platform that integrates cryptocurrency into daily life. The core idea presented in the Bitcashpay (old) whitepaper is: by building an integrated decentralized financial ecosystem that combines payment, lending, and staking services, it aims to achieve widespread adoption and popularization of cryptocurrency in everyday consumption scenarios.

Interested researchers can access the original Bitcashpay (old) whitepaper. Bitcashpay (old) whitepaper link: https://cdn.bitcashpay.net/bitcashpay-whitepaper.pdf

Bitcashpay (old) whitepaper summary

Author: Julian Hartmann

Last updated: 2025-11-14 17:40

The following is a summary of the Bitcashpay (old) whitepaper, expressed in simple terms to help you quickly understand the Bitcashpay (old) whitepaper and gain a clearer understanding of Bitcashpay (old).

Sorry, friend! Regarding the Bitcashpay (old) project, although I found some information, its original whitepaper or official detailed documentation is currently difficult to access directly. Based on available sources, Bitcashpay (old) was once an ambitious decentralized finance (DeFi) project, but later suffered a hacker attack and migrated to a new contract. Therefore, I will organize an introduction to the project based on the information I could find, with special emphasis on its historical background.

What is Bitcashpay (old)

Imagine having a “universal wallet” that not only stores money (cryptocurrency), but also helps you borrow, earn (through staking or lending), and can even be used directly to buy things and pay bills. Bitcashpay (old) is such a grand vision, aiming to create a “one-stop” decentralized finance (DeFi) platform. DeFi can be understood as “open finance” built on blockchain, which does not require intermediaries like banks, but instead provides various financial services through smart contracts (protocols that automatically execute on the blockchain).

The target users of Bitcashpay (old) are those who wish to break free from the constraints of traditional finance and enjoy a more convenient, lower-cost, and more private transaction experience. It aims to allow users to purchase mobile top-ups, fast food, gasoline, airline tickets, and other goods and services through an app, just as easily as we use Alipay or WeChat Pay today, but powered by blockchain technology.

Project Vision and Value Proposition

Bitcashpay (old) envisions itself as a global payment solution, providing real-time transactions and historical records. It hopes to solve the problems of slow speed and high fees in traditional payment systems by offering a user-friendly alternative. Simply put, it wants your money to flow faster and cheaper in the digital world. It also places special emphasis on user privacy, protecting transaction details and user identities through encryption technology, so you can feel more secure when making digital transactions. In addition, the project is committed to promoting financial inclusion, enabling those underserved by traditional banks to access financial services.

Technical Features (Based on Available Information)

Although a detailed technical whitepaper was not found, from the project description, Bitcashpay (old) planned to integrate multiple DeFi functions. It once planned to develop a decentralized exchange (DEX), and may have integrated Layer 2 scaling solutions to address high transaction fees and slow speeds on the Ethereum network. A decentralized exchange is like a stock exchange without a boss, where buyers and sellers trade directly via smart contracts. Layer 2 scaling solutions can be understood as “express lanes” built alongside the main road (Ethereum), allowing more transactions to pass through faster.

The project also mentioned decentralized lending, meaning lending activities would be conducted via smart contracts to prevent misconduct by either party. This is like an automated lending platform, with rules written in code, open and transparent.

Tokenomics

The token symbol for Bitcashpay (old) is BCP. According to CoinMarketCap, its total supply is about 849.99 million BCP, the maximum supply is 850 million BCP, and the circulating supply is about 837.1 million BCP.

BCP tokens play multiple roles in the Bitcashpay (old) ecosystem:

Payment: Users can use BCP to purchase goods and services.
Staking: Users who hold and lock BCP tokens can earn rewards, for example, staking BCP can yield up to 84% annual returns, and locking BTC or ETH can yield up to 60% annual returns. Staking is like putting money in a fixed deposit at a bank, but with potentially higher returns, while also helping to secure the network.
Lending: Users can collateralize cryptocurrency to borrow cash or stablecoins.
Trading Fee Reduction: On its planned exchange, users who stake more than 10,000 BCP can enjoy zero trading fees.
Burn Mechanism: Bitcashpay Financial Technology Inc. will use 5% of its monthly revenue to buy back BCP from exchanges and burn them, reducing the token supply. Burning tokens is usually done to decrease the number of tokens in the market, which may increase the value of the remaining tokens.

Common Risk Reminders

Friend, here is a very important message you need to pay special attention to: Bitcashpay (old) suffered a hacker attack and has migrated to a new contract. This means you **should not purchase its old tokens anymore**. Any transactions involving old contract tokens may result in losses. In the cryptocurrency field, security risks are always paramount, and hacker attacks are not uncommon, so be very cautious when choosing projects.

Additionally, the cryptocurrency market is highly volatile, and project development is uncertain; technical, economic, and compliance risks may all affect the project's future. Please remember, the above information does not constitute any investment advice.

Project Summary

Bitcashpay (old) was once a project dedicated to building a comprehensive DeFi ecosystem, aiming to provide convenient, low-cost, and private payment, lending, and investment services through blockchain technology. However, the project suffered a hacker attack and migrated its contract, which is a very critical historical event. For any cryptocurrency project, understanding its history, technical implementation, team background, and potential risks is essential. Given the special situation of Bitcashpay (old), if you are interested in the Bitcashpay project, be sure to pay attention to its “new” contract and related information, and always stay vigilant and conduct thorough independent research. For more details, please research on your own.

Disclaimer: The above interpretations are the author's personal opinions. Please verify the accuracy of all information independently. These interpretations do not represent the platform's views and are not intended as investment advice. For more details about the project, please refer to its whitepaper.