On Friday, Dell Inc. (NASDAQ:DELL) officially announced it accepts Bitcoins for online purchases. This includes purchases on all items on Dell.com. The retailer is accepting Bitcoins as part of a pilot program for U.S. based consumers and small businesses. Should the test go well, the option will expand outside the United States.
Dell’s collaboration with Coinbase
Dell is working with Coinbase, a Bitcoin payment processor to add the new payment option. Dell touted together the companies added Bitcoin’s support system within 14 days when Coinbase claimed Dell was the largest company to accept Bitcoin.
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To pay with Bitcoin at Dell.com, users must first add their items to the cart and fill out shipping details, then choose Bitcoin as their method of payment. Once the user submits the order, she/he will be taken Coinbase.com to finalize the purchase. Users can then choose to pay directly with their Bitcoin wallet by using a generated payment address or scanning a QR code with a smartphone. Those with Coinbase accounts also have the option to log-in and send the payment directly. After the purchase is complete, users will be returned to Dell.com for order confirmation.
The benefits of Bitcoin
Bitcoin is actually an open source of peer-to-peer currency. It’s a public network where no single entity controls the currency. It simplifies payments with mobile technology. Users can receive Bitcoin payments by displaying the QR code in the Bitcoin Wallet app on their phone and let a friend scan the mobile or touch the phone together.
What makes Bitcoin unique is that it gives users more security and more control over their money. The transactions are secured by military grade cryptography which means nobody else can make a payment on your behalf or charge you. It also allows users to send and make payments with low fees.