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Switzerland

Switzerland Retailer Starts Accepting Bitcoin From Customers

ยท 19 Mar 2019 in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Digitec and Galaxus is now accepting Bitcoin (BTC) and other digital assets for the goods sold on the platform. The information was released by the local news site Watson.ch a few hours ago. This shows that there is interest in Bitcoin and other digital currencies in the market.

Digitec-Galaxus Accepts Bitcoin and Other Digital Currencies

Swiss individuals that make purchases online can now pay with Bitcoin and other digital assets for the goods they purchase online. Some of the digital assets accepted include Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), XRP, Binance Coin (BNB), Litecoin (LTC), Tron (TRX), OmiseGo (OMG) and Neo.

Oliver Herren, Digitec co-founder and Chief Innovation Officer explained hat they want to support this development and do it for a long time.

He said about it:

“Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development. We wanted to do that for a long time, but the effort was too long for a long time.”

According to the firm, the intention is to attract younger generations and tech-savvy individuals. This would position them as a forward-thinking company. In order to accept these payments, the firm is working with the payment processor Coinfy, that will me immediately converting the funds to Swiss francs. This will allow the company to avoid price fluctuations that are very common for digital currencies.

At the moment, the new implementation will be available only for Swiss customers. If the initiative ends up being successful, the intention is to support German customers as well. In order to pay using virtual currencies, users will have to select a product, go to the check out process and select “cryptocurrencies” as a payment option.

The exchange rate that users will receive will be fixed for 15 minutes and the page will be displaying an address and a QR-code. Users will be able to send the payment to these addresses at the desired moment. Digitec Galaxus will not charge users any fees for crypto payments made by clients. However, Coinfy will be charging a conversion fee of 1.5 percent of the purchase amount.

This is very positive for the cryptocurrency space that has been in a bear trend since the beginning of January 2018. In the future, we could see other companies and retailers around the world adding support to digital currencies.

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