Switzerland based Digitec-Galaxus, an online retail market place has started accepting
Switzerland based Digitec-Galaxus, an online retail market place has started accepting Bitcoin. The news comes in as a big boost for the Bitcoin and crypto community showing the tremendous growth of Bitcoin adoption around the globe.
Digitec-Galaxus which is famously known as the “Amazon” of Switerzland has been looking to offer crypto payments for a long time. With this decision, the Swiss consumers can now spend their Bitcoin for buying their daily necessities.
The online retail market place would not just accept Bitcoin as the payment, but a plethora of other altcoins as well, which includes Bitcoin Cash (BCH), Bitcoin Cash SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), TRON (TRX), OmiseGo (OMG), and NEO (NEO).
Oliver Herren, the co-founder, and chief innovation officer at Digitec said,
“Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development. We wanted to do that for a long time, but the effort was too long for a long time.”
When he was enquired about the reason behind providing an alternate payment option, the co-founder said that the whole world has been frantic about the cryptocurrency, but only on the trading level. If you own some crypto why not spend it on buying something which you use daily. He explained,
“Because you have some and you want to use them. Or because you cannot turn them into real money because your bank does not accept it. Or maybe just because your can and like to try new things”
Is the Crypto payment a bait for the Younger Generation
The online retail market place admits that apart from the popularity of crypto, the interest of younger and tech-savvy generation was definitely on their minds while making that decision. The co-founder also assured that price volatility won’t impact them much as all the crypto payments would be processed by a third-party vendor called Coinify, which would immediately convert the crypto in Swiss Francs.
The company has made it clear that the early crypto payment options would be made available only to the Swiss consumers at first, and if it turns out to be successful, then the services would also be extended to the German customers.
The payment portal has been simplified for the public use where the payment portal would display a fixed exchange rate for 15 minutes, along with the address and QR code to which the customer would send payment. Coinify would charge a conversion fee of 1.5 percent on the purchase amount.