Largest Swiss Online Store Begins Accepting Cryptocurrencies as Payment
By Jamie Green – Crypto Dealer
Digitec Galaxus, one of the first online retailers in Switzerland, has introduced the acceptance of cryptocurrency payments as shown through their site. Accepting cryptocurrencies should open the possibilities to provide a seamless experience for users with more diverse payment methods. Those users that buy Ethereum for an investment may soon be able to spend it at this retailer.
Digitec Galaxus will support crypto transactions in the form of Bitcoin, Bitcoin Cash ABC, Bitcoin Cash SV, Ethereum, XRP, Binance Coin, Litecoin, TRON, NEO and OmiseGO. A user could buy crypto native to any of these blockchains to purchase through the site.
The company is introducing cryptocurrency payments to both online shops, Digitec and Galaxus. Any customers of the sites will be able to buy XRP for their retail shopping. There is currently a minimum spend of 200 CHF to be eligible for paying in crypto, but this could be removed in the future. The new payment method has been developed in collaboration with the Swiss e-payment specialist Datatrans AG which has an affiliation with crypto payment provider Coinify.
Coinify will provide all the currency exchange through its platform where it can provide a steady rate for 15 minutes. This rate will apply for the full 15 minutes and customers will need to make a payment either using the text or QR code. Where to buy Bitcoin for the purchase will not matter as the cryptocurrency can be sent from any wallet provider on that network.
Though the service won’t be free, Digitec Galaxus have stated they won’t charge any fees for making payments in crypto. A 1.5% fee will be charged by Coinify on top of any additional transaction fees that are charged by the network. Coinify’s payment page will show the status of the last payment providing users with reassurance that the transaction is taking place for their purchase.
Many organisations are trying to integrate cryptocurrency within their current systems and collaborations between project seems to be leading the way for innovation.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
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