Tuesday, 20 May 2014

Paying for your purchase with Bitcoin

Those of you who own Bitcoins will be glad to hear that you can now spend your Bitcoins on ShopJoy. Head over to How to pay with Bitcoin? below for how you can do that.

What is Bitcoin?

Bitcoin is an electronic currency that allows anyone to transact online, both fast and easily. You can think of it like paying in cash, but through the computer. Getting started with Bitcoin is as simple as downloading a wallet or setting up an online wallet account, and then making a purchase of Bitcoins. After this, they can be sent to anyone at any time, without anything else needed from you. You won't have to divulge your personal or financial details.

Better privacy for you

Accepting Bitcoin is a huge step for ShopJoy. It means transactions can happen without having to capture any sensitive data about customers. No credit card numbers need to be given and no third-party websites need to be logged in to, and therefore there is no chance of having these details swiped or otherwise used for other purposes. Payments are just sent from a Bitcoin wallet to ShopJoy, and the transaction is complete. This protects customers and their data, helping to protect against data breaches and other complications that would otherwise be a worry.

Better prices for you

Bitcoin payment processors charge a significantly lower transaction fee than traditional credit card counterparts. As more customers pay with Bitcoin, the saving in transaction fee adds up and this is passed on to you in the form of lower prices.

How to pay with Bitcoin?

ShopJoy's checkout steps are the same regardless of payment method, except for the last part, where you choose whether to pay with PayPal or credit card or Bitcoin. Up until this point all prices are displayed in AUD.



Clicking Pay with Bitcoin will take you to Coinbase payment processor.



If you already have a Coinbase account, you can send the payment directly through your balance. If you have a non-Coinbase wallet, you can copy the displayed address and use it as your "send to" address in your wallet.

You may see a warning banner from Coinbase stating that "This merchant has not been verified yet. Proceed with caution." This shouldn't cause any concern. All it means is that Coinbase's system isn't able to verify non-US businesses. ShopJoy Australia is indeed a legitimate business, and this has been verified by Yellow Pages Australia and GeoTrust.

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