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Bitcoin aceptrd in PitLab.ShopWe are started to accept Bitcoin payments in in PitLab.Shop. It is result of searching fast and low cost method of transferring money from customers to our RC store. I test many method of payment but all traditional method based on banking system are costly.

 

For example PayPal has fast confirmation, but has 3-4% fee for payment and 2-3% money exchange fee. Money withdrawn is possible after 3-4 working days.

Bank transfer  need 3-5 days to be confirmed and transfer cost few Euro. It need about one day money exchange operation outside bank, or fast, but with bad bank course.

Card payment has 2-3% of fee but forced exchange on very bad bank course.

Skrill has fee compared with Paypal, additional fee on withdraw and withdraw is possible after 14 days.

Bitcoin has optional fee 0,1mBTC (0,0001 BTC) or even can be transfered free of charge. Is relatively fast: first information is about minute after payment, full confirmation from few sources is after less then  hour. Exchange to any national money is possible on many stocks. From my actual point of view this method is better then traditional payment.

 

 

How to do payment in PitLab.Shop?

You need to have a wallet to store Bitcoin. I use standard wallet from http://bitcoin.org/ installed on my PC and mobile Bitcoin Wallet on my android phone. In Wallet you store your Bitcoins, earned or bought on market.

 

In shop after dropping goods to shopping cart, you select payment method as BitPay:

Payment method 

After selecting shipment method and confirming purchase by green button on the page bottom

PAYMENT CONFIRMATION

 

Will be displayed payment screen visible below.

bitcoin payment screen

It include big QR code for mobile transaction - just scan the code with your phone and mobile wallet application will be executed. You can also open mobile wallet and press camera icon to start decoding QR code.

 

After decoding QR code wallet application will show payment screen visible below (image shows other transaction):

bitcoim payment on phone

 

If you want to pay from PC wallet, just press the link starting from 1F3Z... The Bitcoin Core Wallet will be opened with screen as below:

PC wallet

 

Pressing "Send" you will send payment to shop.

 

Notice the value is displayed in mBTC - this is mili Bitcoin, because 1 bitcoin can be divided not to 100 cents like Dollar or Euro, but it divide to 10^8 units called Satoshi. So:

100 Satoshi = 1 uBTC (micro Bitcoin) = 0,000001 BTC

100000 Satoshi = 1000 uBTC = 1 mBTC (mili Bitcoin) = 0,001 BTC

100000000 Satoshi = 1000000uBTC = 1000 mBTC = 1 BTC

 

 

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