Digitec Galaxus Introduces Crypto Payment Option
- The online retailer is accepting 10 digital currencies.
Swiss online retailer Digitec Galaxus has announced that its platform has started accepting cryptocurrencies as payment.
According to the official announcement made on March 19, the retail giant will accept an array of digital currencies - Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), Tron (TRX), NEO (NEO) and OmiseGO (OMG). However, the store has set the minimum purchase limit for crypto acceptance at CNF 200 (around $200).
Digitec Galaxus is one of the largest online retail stores in Switzerland and lists products ranging from wheat beer to gaming PCs.
To introduce the crypto payment method, the retailer partnered with Swiss payment processor Datatrans and Danish crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term startup Coinify.
Customers willing to pay in crypto will get a 15-minute window to pay while checking out and the value of the digital coins will not fluctuate for that period. There is also a 1.5 percent processing charge for crypto payments.
Not Fully Convinced with Crypto
Answering a question about the willingness to pay in crypto, Oliver Herren, the company’s chief innovation officer, said: “Maybe you have some and want to make use of it. Perhaps you can’t turn it into real money because your bank won’t accept it. Or maybe just because you can? Perhaps you simply enjoy trying new things.”
However, Herren is uncertain about the future of digital currencies and is not “not fully convinced of the advantages Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term” over other database technologies. He pointed out the scalability issues of the blockchains and that he believes that improvements in the network are slowed down by decentralization.
“But maybe I just haven’t invested enough time in fully understanding how the blockchain ecosystem works,” he clarified.
The Swiss store has further introduced a section dedicated to different crypto wallets.
Digitec Galaxus’ push for crypto is not the first in the retail industry as many big and small players in the sectors across the globe including Overstock and Microsoft introduced crypto payment options over the last few years.
Swiss online retailer Digitec Galaxus has announced that its platform has started accepting cryptocurrencies as payment.
According to the official announcement made on March 19, the retail giant will accept an array of digital currencies - Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), Tron (TRX), NEO (NEO) and OmiseGO (OMG). However, the store has set the minimum purchase limit for crypto acceptance at CNF 200 (around $200).
Digitec Galaxus is one of the largest online retail stores in Switzerland and lists products ranging from wheat beer to gaming PCs.
To introduce the crypto payment method, the retailer partnered with Swiss payment processor Datatrans and Danish crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term startup Coinify.
Customers willing to pay in crypto will get a 15-minute window to pay while checking out and the value of the digital coins will not fluctuate for that period. There is also a 1.5 percent processing charge for crypto payments.
Not Fully Convinced with Crypto
Answering a question about the willingness to pay in crypto, Oliver Herren, the company’s chief innovation officer, said: “Maybe you have some and want to make use of it. Perhaps you can’t turn it into real money because your bank won’t accept it. Or maybe just because you can? Perhaps you simply enjoy trying new things.”
However, Herren is uncertain about the future of digital currencies and is not “not fully convinced of the advantages Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term” over other database technologies. He pointed out the scalability issues of the blockchains and that he believes that improvements in the network are slowed down by decentralization.
“But maybe I just haven’t invested enough time in fully understanding how the blockchain ecosystem works,” he clarified.
The Swiss store has further introduced a section dedicated to different crypto wallets.
Digitec Galaxus’ push for crypto is not the first in the retail industry as many big and small players in the sectors across the globe including Overstock and Microsoft introduced crypto payment options over the last few years.