What are Bitcoins?

Bitcoin uses peer-to-peer technology to operate with no central authority; managing transactions and the issuing of bitcoins is carried out collectively by the network. Adafruit only accepts USD (dollars) for products, BitPay allows Adafruit to directly accept USD via BitPay. This is an experiment for adding a new payment method, not a speculative asset, Adafruit does not hold or store Bitcoins for any purchases.

 

BitPay

Adafruit is pleased to offer BitPay as a payment method for Adafruit purchases. We’re using BitPay as our payment processor. BitPay is an electronic payment processing system which enables online merchants to accept USD funds, as a form of payment like payments from Visa, Mastercard, Amex, Google Wallet and Paypal.

 

  1. Customer places an order in the Adafruit store, just like any other payment method.
  2. We are able to offer BitPay as an option for more international locations than any of the other payment methods we have available.
  3. BitPay creates a Bitcoin invoice and locks in an exchange rate agreement for any payments that are initiated within the 15min minutes that the invoice is valid.
  4. BitPay oversees that process of validating the exchange of the "coin", and offers customer and vendor support if the wrong amount or no amount reaches the Bitcoin invoice address.
  5. BitPay pays Adafruit in USD after the Bitcoin payment is validated -- so we can receive payment in the currency we use to pay our suppliers, manufacturers, shipping services, and staff!

 

 

As Bitcoin can be quite volatile, bitpay may not always have it available depending on the distributed blockchain 'load'!

This guide was first published on Jul 09, 2014. It was last updated on Jul 09, 2014.

This page (Adafruit Now Accepting BitPay) was last updated on Oct 09, 2021.

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