Largest Swiss online retailer Digitec Galaxus starts accepting Bitcoin

Digitec Galaxus AG, the largest online retailer in Switzerland, has started accepting bitcoin and other cryptocurrencies.

In an official announcement dated March 19, the company said:

“Customers of the two online shops digitec and Galaxus can now use Bitcoin Cash ABC, Bitcoin Cash SV, Ethereum, Ripple, Binance Coin, Litecoin, TRON, NEO or OmiseGO.”

Digitec Galaxus developed the new payment method as part of a pilot project in collaboration with the Swiss e-payment specialist Datatrans AG. The cryptocurrency payments will be processed using crypto payment provider Coinify, which will charge a fee of 1.5% of the purchase price via the conversion rate.

Digitec Galaxus clarified that it does not charge any fees for payments made in cryptocurrencies.

“Cryptocurrencies are fascinating and likely to become a relevant means of payment in e-commerce – we want to support this development,” says Oliver Herren, CIO and co-founder of Digitec Galaxus. “Of course I’m expecting all crypto millionaires in Switzerland to only buy from us in the future.”

While there is no cap on the maximum amount, cryptocurrency payments are required to have a minimum value of 200 franc.

“So far, paying by cryptocurrencies hasn’t been viable for most people,” Hanspeter Maurer, Managing Director of Datatrans, explains. “We're keen to find out how digitec and Galaxus customers take up this offer.”