What payment methods do we accept?
Currently we accept cryptocurrencies via our checkout app Coins Payment. We are one of the only crypto mining distributors that accept crypto as their primary mood of payment.
Why do we prefer crypto payments?
Most crypto mining companies do NOT accept credit and debit cards for two reasons the first being credit card fraud. It’s very common for customers to order an expensive miner and after they receive the product they call their bank to issue a fraudulent chargeback. It’s also fairly common for customers to use stolen credit card information to buy expensive mining equipment.
Our solution to these issues is to use a third party payment processor, this way our customers get the peace of mind of using a credit/debt card and we don’t have to deal with fraudulent payments.
The second reason we prefer crypto payment is costs, contrary to what some crypto critics say, credit/debt cards cost a lot more in transaction fees. Here is a cost comparison based on our average transaction size:
Credit/Debit – Sale: $4,450 – fee: 2.9% – cost: $129.05
Crypto Pay – Sale: $4,450 – fee: flat $10 – cost: $10
Even on a $600 sale the transaction fee on a debit/credit card would be 2x higher than paying with crypto.