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Activating and Using Bitcoin as a Payment Option
Posted by bidorbuy Marketing, Last modified by bidorbuy Marketing on 17 March 2016 08:12 AM

Buyers can pay with bitcoins for products that have bitcoins listed as a payment option in the “Shipping & Payment” tab.

Sellers can accept  bitcoins by activating this payment option.  It is recommended that Sellers offer multiple payment options.

 

How it works

  • Buyers with bitcoins shop for products from sellers who offer bitcoin as a payment option.
  • Buyers make a purchase and proceed through checkout, choosing bitcoin as their payment method.
  • Sellers will then receive the bitcoin payment  into their bidorbuy account. bidorbuy automatically converts bitcoin into South African Rand and then credits the full Rand amount to the seller’s bidorbuy account. Sellers do not require a bitcoin wallet to accept this payment option and there is no charge-back risk. 

 

How do I pay for items on bidorbuy using bitcoin?

bitcoin

Sellers have the ability to turn this facility on and off, so not all items will include bitcoins as a payment option. All sellers can opt to accept bitcoins.

Step 1: First thing you need to do is to check that the item you wish to buy accepts bitcoin. You can do this by one of the following methods:

Method 1: When browsing or searching for items, use the bitcoin payment option filter, situated in the column on the left.

Method 2: Stumbled upon an item you’d like to buy? Open the listing and click on the "Shipping & Payment" tab.  If you see a bitcoin icon, it means that you can buy that item with your bitcoins. (Note: Deal of the Week items have this information under "Payment").

Step 2: Proceed through checkout as you would for any other item. When you get to the end of checkout, select the “Pay with bitcoin” option.

bitcoin on bidorbuy

Step 3: Simply enter the amount that you would like to pay with your bitcoins. You can choose to pay the full amount with your bitcoins or to make a partial payment with your bitcoin and top-up with another payment method. Please note that when making a partial payment you need to enter the amount at this step.(You may need to visit the BitX website to check your bitcoin balance).

bitcoin on bidorbuy

Step 4: When you are ready, click on “Pay with bitcoin”. You will now have the option to make payment through a QR code using your smartphone, or you can copy the wallet address and log into Bitx to complete payment. Please note you have up to 10 minutes to complete the payment.

Pay using the QR code and your smartphone.

bitcoin on bidorbuy

Pay by logging into Bitx, using the generated wallet address.

Send to: unique wallet address from bidorbuy.

Send from: Your own bitcoin account

bitcoin

Expired transaction:

 bitcoin

Step 5: Click "I have sent the payment" and you're done. You will be re-directed back to bidorbuy to your payment confirmation page. You will then receive your payment confirmation email. Please note that any reversals of refunds will be done in Rands.

 

What you cannot pay with bitcoins

Bitcoin is unfortunately not available for:

  • Products not set to accept bitcoin (please see Step 1 of this article)
  • Orders under R2.

 

Who to contact for help when paying with bitcoins

Buyers, please email hello@bidorbuy.co.za if you need help placing your order with bitcoin.

 

Sellers, please note

  • Bitcoin comes with a small transaction fee of 2.28% including VAT.
  • With bitcoin  there is no risk of charge-back.
  • You will recieve Rands (R) in your bidorbuy account.
  • Any reversals or refunds will be done in Rands (R).
  • We encourage sellers to offer bitcoin as a payment option because there is no risk and you will be reaching a large audience of new online shoppers.

 

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