Per today, Icecat accepts bitcoin and other common cryptos as payment for its invoices in addition to bank transfer and Paypal. Icecat accepts via a Coinbase merchant account the most common cryptos. Apart from Bitcoin, these are Bitcoin Cash, Dai, Ethereum, Litecoin, and the stablecoin USD Coin.
As a client, what does change? Not much. On each invoice, an extra payment option is added. A link to Icecat’s Coinbase Commerce account. To help match the payment with the invoice, we ask for email and name, before making a crypto payment through Coinbase.
Next, you select the cryptocurrency. And, in the final payment screen, the wallet address for the respective cryptocurrency is given to which you should transfer the amount.
Please, note that you take care of applying the current exchange rate yourself. If this pilot is successful, we’ll look into more advanced integrations.
Why would someone want to pay in cryptos? In some instances, it might lower the costs of international money transfers. Further, as more and more people and companies hold or accept cryptos, it will save them on withdrawal costs if they can pay directly in cryptos. Why would Icecat accept cryptos? Icecat experiments already for a few years with cryptos, including its own ICURY. In other words: to learn from it. Further, it offers convenience to certain clients. And, finally, the risks are limited as Icecat can withdraw the cryptos in USDs or other official currencies immediately.
Read further: Icecat, bitcoin, coinbase, cryptocurrencies, ethereum
Founder and CEO of Icecat NV. Investor. Ph.D.
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