Posted on December 05 2013
Ok, I know what you're thinking... WTF are Bitcoins? Simply put, they are a virtual currency that can be used to pay people or purchase goods and services. Using Bitcoins to make a purchase is like the online equivalent of paying cash. The core innovation that makes Bitcoin special is that it uses a massive peer-to-peer network to verify transactions. This creates a system where payments are non-reversible, accounts cannot be frozen, and transaction fees are much lower.
Still confused? Yeah, no shit. It's pretty mind-boggling stuff. Check out the video below for a better explanation than my feeble brain can muster:
For an even more in-depth explanation that digs deeper into acquiring and using Bitcoins, jump over to this article: 12 questions about Bitcoin you were too embarrassed to ask
Why would we want to accept Bitcoins?
The biggest reason is to allow us to confidently accept international orders from countries that are generally associated with high rates of fraudulent credit card transactions. Since Bitcoins transactions are processed instantly and cannot be reversed, we don't have to worry about these transactions being disputed.
A second reason is privacy. Bitcoin transactions are anonymous, so you can purchase our products without being subject to the prying eyes of credit card companies and government agencies that may be watching.
Another reason is to offer alternate payment options to our customers. Although only a small percentage of customers might opt to pay with Bitcoins, it can't hurt to have the choice available. Besides, it's a cool idea that might take off and we want to be able to claim we were one of the first Vaporizer retailers to accept them ;-)
To use Bitcoins to make a purchase on V8PE.com, simply start the checkout process like you normally would and you will see the option to pay with Bitcoins when you reach the billing screen. Feel free to let us know if you have any questions and please share your thoughts about Bitcoins in the comments below. Happy hunting!