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Payment Questions
What payment methods do you accept?
You can pay for your order:
- By a wire transfer into our Canadian USD business bank account, which will be sent to you once your order is confirmed. Note: Due to high bank wire fees, we accept wire payments only on larger purchases. In case of small purchases, you will not see bank payment as an option during checkout.
- Use Bitcoin or Bitcoin Cash.
- Use USDC.
Can I pay with a credit card?
Yes, you can, but you need to first buy Bitcoin, Bitcoin Cash, or USDC using your credit card and then use cryptocurrency to pay for your order.
How do I use Bitcoin/Bitcoin Cash/USDC to pay?
Paying for your order using cryptocurrency is similar to what you typically do using your bank, with an additional step of purchasing cryptocurrency first.
So there are 2 steps:
- Buy Bitcoin/Bitcoin Cash/USDC
- Pay your order
What is the difference between paying with Bitcoin vs Bitcoin Cash vs USDC?
- Bitcoin is the most used crypto and those who have been using crypto for a while often keep their investment in Bitcoin. For those customers, it may make sense to pay using Bitcoin. However, Bitcoin transactions can be very expensive and you may want to use Bitcoin Cash instead.
- Bitcoin Cash is designed to do payments quickly and with low transaction fees. If you are new to crypto, we highly recommend paying with Bitcoin Cash. These payments are secure, fast (within 30minutes), and at low cost (ca. $0.50/transaction).
- USDC is a stable coin and is pegged to USD at 1:1 value. This means that there is no market volatility an you can store USDC long term as you would in your bank without any impact on its value. If you are in USA, then you can exchange USD to USDC at no cost 1:1. If you are outside of USA, then you can deposit your currency to a crypto exchange from your bank account (free) or credit card (ca. 4% fee) and exchange your currency to USDC at current USD market value and 0.2% to 0.5% exchange fee, which is much better than what your bank does. Then you can keep USDC same as USD and pay with it as you would with USD.
How do I buy Bitcoin/Bitcoin Cash/USDC?
You can buy Bitcoin/Bitcoin Cash/USDC using your credit card, debit card, ACH, bank transfer, Paypal, on any cryptocurrency exchange operating in your country. It is usually very easy to open an account with them.
You can also buy bitcoin using applications designed to purchase bitcoin, such as BitPay.
- Install the BitPay App on your cell phone and then purchase bitcoin with your credit/debit card or a bank transfer.
- Here is a tutorial how to purchase bitcoin – BitPay Buy Crypto Tutorial (opens a new window)
How do I pay for the order with Bitcoin/Bitcoin Cash?
When you add items you would like to purchase into your cart on our website and then provide your shipping information, you will be able to make a payment by choosing Bitcoin/Bitcoin Cash as payment method and hitting the “Proceed to Bitcart” button. This will transfer you to a Bitcoin/Bitcoin Cash payment getaway with the payment information, a QR code, and our Bitcoin/Bitcoin Cash wallet address.
You can either process your order on your desktop computer and then just scan the QR code in the bitcoin payment app (BitPay, Blue Wallet, etc.) on your phone.
Or, if making the order using your phone, you can just press the “Open in Wallet” button and the wallet on your phone will open all the necessary information.
Alternatively, if you have a desktop Bitcoin wallet, then you can just send the required bitcoin by copying the bitcoin address.
As an example, in BitPay app:
- Click on Send Bitcoin and then the QR code scanner
- Scan the order specific QR code from our website
- Select Currency – Bitcoin
- You can modify the miner fee to “super economy” to reduce your transaction fees (read more on this below)
- Slide to send the payment
Note 1: By default, when you are redirected to BitCart to pay with cryptocurrency, a new invoice is generated and Bitcoin Cash is the default form of payment. You can switch between Bitcoin and Bitcoin Cash, which updates the QR code and our wallet address accordingly.
Note 2: The invoice shows the current market value of Bitcoin/Bitcoin Cash.
You can see the exact amount of your payment in USD, press the “down arrow”.
Note 3: We chose BitCart as our payment getaway as it is allows for the direct payment between you and our company. There are no third parties involved, other than crypto miners who confirm the transaction.
How do I pay with USDC?
USDC is a stable coin which always keeps the parity (1:1) exchange with USD. Therefore, by using USDC you avoid the cryptocurrency volatility. We appreciate the higher value transactions to be paid in USDC.
In order to pay with USDC, just choose it as payment method during the checkout and proceed to complete the ordering process. We will then reach out to send you our USDC wallet address and discuss which network you wish to use. We can accept USDC over various networks, which differ in transaction fees ERC-20 (ca. $16/transaction), Solana (ca. $0.5/transaction), Polygon (ca. $4/transaction).
If you wish, we can do a test transaction on solana for a low value, such as $1.
Can I pay with Bitcoin on the Lightning Network?
No. We decided to stay away from the Lightning Network due to complexity of running a lightning node, opening channels, and keeping liquidity, which unnecessarily complicates the payments for our customers. As an alternative, we offer payments using Bitcoin Cash, which enjoys very low transaction fees.
Why is there a timer on the payment page?
There is a 15 minute limit to make a payment for the order. If you do not pay for your order within 15 minutes, the generated invoice will be cancelled, but all your information and your order will stay in your cart. You can just proceed with the order again at any time and a new payment QR code will be generated. This is because of the Bitcoin volatility to keep the price the same and assure you do not send more (or less) money during your payment.
Do not worry! If this happens, we have all your information and can send you a payment request via email, which you can pay at your convenience.
What if I do not have enough Bitcoin/Bitcoin Cash in my wallet to pay for the order?
Do not worry! You can just let the invoice lapse for 15 minutes. Your order will still remain in your shopping cart until it is paid for, so you can create a new payment by hitting the “Proceed to Bitcart” button again later once you know you have enough Bitcoin/Bitcoin Cash in your wallet. Alternatively, just let us know and we will send you a new payment request link, which you can pay at your convenience.
Can I pay with other cryptocurrencies?
Besides Bitcoin, we accept stablecoin USDC.
USDC removes the Bitcoin volatility and we are able to accept USDC on Ethereum network (ca. $9-$16/transaction), Polygon/Matic (ca. $4/transaction), or Solana (ca. $0.50/transaction). If you wish to pay with USDC, let us know and we will send you the wallet address to receive the money.
What is your recommended payment process?
To purchase cryptocurrency, we recommend:
A. If interested in paying with a credit card, install BitPay on your phone and purchase either Bitcoin or Bitcoin Cash or USDC using your credit card – this adds ca. 4% credit card fee to your cost.
B. If interested in keeping your costs down, register an account with a local cryptocurrency exchange. Deposit your local currency money from your bank account (free) and purchase either Bitcoin or Bitcoin Cash or USDC (most exchanges charge 0.2%-0.5% fee for purchasing cryptocurrency, which is significantly better than your bank or credit card exchange rate).
To pay for your order:
A. If you already have Bitcoin or Bitcoin Cash, then just follow the payment QR code/wallet link on our website during checkout. To significantly reduce the cost of transaction, set your transaction rate to the lowest allowed (usually from 12 hours to 1 day). This will help reduce your transaction cost from ca. $10 to less than $1.
If you pay with Bitcoin Cash, then transactions are kept very low (usually less than $1 and are typicall processed within 30 minutes).
Caution: Our generated QR code invoice recommends bitcoin transaction fee to process the transaction in 5th crypto block, where we should recieve the transaction within an hour. You can set these fees lower and we recommend checking https://mempool.space/ (opens in a new window) to see what are current transaction fees on the market. You can set the custom fee to a little bit higher value than what you see in block #4. For instance, below is the current mempool, which shows the fees on the right side. At present time they are around 10 sats, so we recommend to set your fee to 12-15 sats.
If you set your fees too low, your transaction will get stuck and may not be confirmed and processed for months.
B. If you prefer paying with USDC and would like to keep the transaction fees to minimum, then reach out to us and we will send you a Solana USDC wallet to send USDC to. If your exchange does not support sending USDC via Solana network then we can do the same via Polygon.
Tips on transaction fees and how to keep them low
When you pay with a credit card or Paypal, the business pays transaction fees of 3% to 4% from what they receive from the customer and either price it into their product price or ask the customer to add it to the cost of the payment, especially on larger transactions worth several thousands of dollars this can amount to hundreds of dollars in fees.
When you pay with wire transfer, both customer and the business pay the wire payment fee ($25 to $45 on each side) regardless of what the transaction value is.
When you pay with cryptocurrency, there are these fees, which are paid by the customer only (the business does not pay any fees):
- Fee to deposit your currency to a crypto exchange – usually $0.
- Fee to exchange your currency to Bitcoin/Bitcoin Cash/USDC – usually 0.2% to 0.5% above the current market value of that cryptocurrency. If you are in USA, then exchanging USD to USDC is free and at 1:1 value.
- Payment transaction fee – these are the highest and depend on your method.
A. Bitcoin – when paying for your order directly from crypto exchange, the fees are usually >$15 per transaction.
If paying from a wallet you can set the value of the transaction fee, which depends on the speed of the transaction and can be >$15 for transactions processed within 10 minutes and less than $1 for transactions processed within 24 hours. When keeping the custom transaction fee very low, your transaction may not be processed at all and can get stuck for months, therefore it is better to first consult the https://mempool.space/ for current market transaction fees or contact us to discuss. Typically, transaction fee at over 15 sats (ca. $1.50/transaction) is enough to process the transaction within 24 hours.
Bitcoin wallet payment is usually only for those who already have Bitcoin in a crypto wallet and already paid the above >$15 to transfer from exchange to their Bitcoin wallet.
B. Bitcoin Cash – you can pay with Bitcoin Cash both from exchange or first transfer to a wallet and use wallet to pay for your order. In each case, the fees are low at around $0.20/transaction and processed within 30 minutes. Bitcoin Cash is a recommended payment method.
The difference between paying from exchange vs from the wallet is that when paying for your order directly from exchange, it is a rather manual process where you send Bitcoin Cash to us by filling out our Bitcoin Cash address – see below how to get it from the generated invoice. In case of some exchanges and wallets, you may need to add “bitcoin:” before the address if the address does not get recognized as Bitcoin Cash address. i.e. the address would be “bitcoin:address”.
When paying from your wallet, you need to transfer Bitcoin Cash from the exchange to your wallet first and then pay for your order using the wallet, which is an automated process where you only either scan the QR code, or if you are doing the purchase on our website using your phone, then you just press the “open in wallet” button.
C. USDC – USDC has advantage over other crypto currencies if you wish to store it long term as USD and avoid the volatility (you cna for instance exchange CAD for USDC at todays exchange rate and store it as you would store USD in your bank account). In each case of paying from exchange vs wallet, we will need to be in touch first and provide you with our USDC crypto wallet address where you can send your USDC payment.
Whether you are paying from the wallet or the exchange, the process is the same where you will need to send the payment to our USDC wallet manually, therefore if you are not keeping USDC long term, it is easier to do it directly from the exchange. If you exchange more USDC and store it long term, then it is prudent to store it in a cold storage wallet rather than a crypto exchange as so many of them have gone sideways and their clients losing their funds. In a cold storage wallet, you keep your crypto currency only for yourself, just like cash under your pillow without any 3rd party involvement – even bank cannot freeze your money.
Depending on the exchange/wallet, USDC can be sent over different networks:
- Ethereum (ERC-20), which costs ca. $16/transaction and processed within an hour
- Polygon (Matic), which is ca. $4/transaction and processed within an hour
- Solana (not all exchanges support this network), which usually costs less than $1/transaction and processed within an hour.
In all cases, we can do a test transaction first at low value, such as $1, in case you are not very familiar with, or comfortable with crypto payments.
Any questions, do not hesitate to reach out: [email protected]