Bitcoins are a type of digital currency that was introduced to the financial market in 2009. The currency is generated through a process called mining and can be purchased through bitcoin exchanges and certain financial institutions. Although it took time for bitcoin to truly become a viable form of currency, in recent years, their usage has exploded. By the end of August 2013, there were more than $1.5 Billion in bitcoins circulating on the Internet.
Using bitcoin offers many advantages for shoppers and for businesses. Those using bitcoins to purchase products and services can make purchases quickly and transfer money directly to stores and service providers. Because bitcoin are decentralized, there are no limits to the size or frequency of transactions, and there is no risk of accounts being frozen by financial institutions. For businesses, bitcoin increase profitability. The fees charged for bitcoin transfers are a fraction of those assessed by credit card companies and online payment processors.
As an online business, Scottish Kilt Shop conducts all of its transactions electronically and has decided to begin accepting bitcoins for purchases in order to reduce costs and provide additional convenience to customers. Because the use of bitcoins saves the company money on transaction fees, Scottish Kilt Shop has chosen to pass some of the savings on to customers. When customers opt to pay with bitcoins, they will receive a 5.0 percent cash back incentive, lowering the total cost of their order.
The ability to pay via bitcoin is now live at The Scottish Kilt Shop website. Customers can use bitcoins to purchase any of the products featured in the e-commerce store’s inventory, including traditional kilts, utility kilts, sporrans, belts, shirts, jackets, and bagpipes.
To pay with bitcoins, customers can simply add the items that they wish to purchase to their carts and begin the checkout process. After entering their personal contact information and shipping process, customers will have the option to select “Pay with Bitcoin” on the checkout page. Purchases will then be processed through the secure service Bitpay.
For more information about the Scottish Kilt Shop or completing transactions at the store with bitcoin currency