Switzerland’s Largest Online Retailer Starts Accepting 10 Cryptocurrencies

The largest Swiss online retailer, Digitec Galaxus, has started accepting crypto payments at its two stores. Customers can choose from 10 cryptocurrencies to pay with including BTC, BCH, BNB, ETH, TRX, OMG, and XRP. One of the stores specializes in consumer electronics while the other focuses on everyday needs.

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Digitec Galaxus Accepts Crypto Payments

Digitec Galaxus AG announced Tuesday that customers can now pay for their purchases with cryptocurrencies at its two online shops: digitec and Galaxus. Ten cryptocurrencies are supported — BTC, BCH, BSV, BNB, ETH, LTC, NEO, OMG, TRX, and XRP.

Claudio Schaad, leader of Team Spectre, one of the teams that make up the engineering department at Digitec Galaxus AG, discussed the new payment option in a blog post on his company’s website. “We’ve been looking into cryptocurrencies for a while now,” he revealed. The post explains that “instead of creating an own wallet or even cryptocurrency, digicon or the such, Spectre chose [to] work with a company called Coinify,” adding:

In simpler terms: while shopping, if your purchase price exceeds 200 francs, you have the option to pay with cryptocurrencies. What arrives on digitec’s end are Swiss francs.

Digitec specializes in IT, consumer electronics and telecommunications goods while Galaxus claims to be the largest online department store in Switzerland with a growing range of products for everyday needs. The two stores form Digitec Galaxus AG, its website describes.

According to Oliver Herren, co-founder and CIO of Digitec Galaxus, the company currently has around 2.7 million items for sale, from shoehorns to wheat beer to gaming PCs. He was quoted as saying:

Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce — we want to support this development.

Paying With Cryptocurrencies

A blog post on Galaxus’ website details that “The new payment option was created as part of a pilot project together with the Swiss e-payment specialist Datatrans AG,” which works with Danish crypto payment provider Coinify.

Customers shopping on digitec or Galaxus can choose to pay with cryptocurrency at checkout. They will be redirected to a page on Coinify which displays the amount due in BTC with a QR code. Customers can choose among the 10 supported cryptocurrencies and complete the checkout process. Prices are locked in for 15 minutes.

When choosing a cryptocurrency other than BTC, customers are asked to provide an address so that funds can be returned should an error occur. Furthermore, the company warns of a processing delay when paying with other coins.

The blog post further notes that “Normally, the payment confirmation by Coinify takes place within a few minutes,” adding:

Digitec Galaxus does not charge any fees for cryptocurrency payments. Coinify charges a conversion fee of 1.5% of the purchase amount. Other, but small, transaction fees will be charged depending on the currency, as well as how fast the transaction is to be confirmed.

What do you think of Digitec Galaxus accepting 10 cryptocurrencies? Let us know in the comments section below.

Images courtesy of Shutterstock, Coinify, and Digitec Galaxus AG.

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