Two trademarks stand out in this title that we will be discussing: DHgate and Bitcoin. To know these two brands we will pose some questions and provide the answers. You will get to know DHgate as a brand, an e-commerce company. You will also discover more about Bitcoin as a cryptocurrency. Lets know more about Does DHgate Accept Bitcoin?
Does DHgate accept Bitcoin as a mode of payment? NO, Bitcoin payments are not acceptable.
DHGATE.COM
DHgate.com is a Chinese business-to-business (B2B) and Business-to-consumer marketplace founded by Diane Wang and headquartered in Beijing, China
A cross-border e-commerce marketplace coordinates the sales of products from wholesalers to small businesses and retailers. The company is primarily based in Beijing and has offices all over the world, even in the United States.
The company claimed to be the world’s leading B2B e-commerce wholesale marketplace and the largest wholesale trading platform based in China. According to the information on its website, the company has about three million buyers from more than 230 countries and sells about 20 million product listings from over six hundred thousand suppliers based in China.
Does DHgate.com accept Bitcoin?
Bitcoin is a popular cryptocurrency. The currency ushers in other cryptocurrencies. The currency is gradually becoming the acceptable mode of payment for goods and services online and some companies accept payment in Bitcoin. However, DHgate.com is not one of the companies that accept payment in Bitcoin. As of May 30, 2022, the company does not Bitcoin payments.
On the bright side, they offer coupons and discount codes to reduce prices and make buying a lot cheaper for their over three million buyers from more than 230 countries.
Should DHgate Accept Bitcoin?
This is a fundamental question, fundamental in the sense that the world has evolved and still evolving in technology that is crucial to businesses who want to be ahead and align with the trend in order to make it easier for customers to transact seamlessly. Bitcoin is an option, essential option which I think DHgate should add to its payment mode.
Bitcoin is a decentralized digital currency invented by Satoshi, Nakamoto in 2009, to eliminate the centralized control of money for extremely fast processing of transactions. It operates peer-to-peer without a control centre or regulated authority.
Bitcoin does not rely on government or financial institutions (such as banks) for disbursement. Processing Bitcoin takes place through a private network of computers linked together and recorded in a blockchain. The blockchain on each private network is the distribution channel that eliminated the need for central control.
Bitcoins are ‘mined’ and not issued by any bank or government system. They are mined through a computer process that involves solving mathematical algorithms, which are used to identify and verify blocks of transactions to be added to the blockchain.
You can mine or purchase a Bitcoin with fiat currency into Bitcoin ‘wallet’ accessible through a smartphone or computer over the internet. Bitcoin transactions are secured and easy, and cannot be stolen.
These advantages of Bitcoin make it a worthy crypto for transactions. It is more convenient for customers who have the coin to pay for goods and services without the bureaucracy involved in paying with cash currency. Paying with cash currency through credit or debit card needs bank approval and disclosure of customer’s private information (for record keeping purpose) for the payment to be honoured.
Why Should DHgate Accept Bitcoin?
DHgate has competitors, much more successful and bigger competitors that accept Bitcoin payment. Competitors such as Alibaba and AliExpress have Bitcoin payment system to enable customers make payments in Bitcoin (as an option). DHgate will benefit from this crypto payment trend if the company wants to continue its domainace in wholesale Website businesses.
To cap up why DHgate should accept Bitcoin payment, it is (Bitcoin) easier to make payment without the necessary bureaucracy paying in cash currency is ridden with. The coin is also much more secure and ensure privacy of the customer making the payment, i.e. you pay for your purchase without anyone behind the scene poking into your finance record.
Is there plan to accept Bitcoin payment as an option?
DHgate administrative policies are not openly known to the public. If the company adds Bitcoin payment as an option it will be published on their website but for now there is no known plan to add the popular crypto coin to their long list of payment options.
Payment Options available on DHgate
The company accepts several payment options according to country of purchase. The payments acceptable include: Visa Card, American Express, MasterCard, Skrill, Bank transfer, Masterpass, Diners, Discover Visa checkout, Maestro card, Poli, BPay, Apple Pay, Sofort, MisterCash, Carnet, SPEI, Boleto, OXXO, Aura credit card, Nordea Bank, Giro pay, iDeal, Ecard, Yandex Money, QIWi, WebMoney and PayPal.
Conclusion
DHgate.com is a China-based B2B and B2C cross-border online e-commerce marketplace and has offices worldwide. As an international company, it accepts a wide range of payment mediums such as Visa, MasterCard, Discover, Bpay, Apple Pay etc. The company does not accept Bitcoin payment for goods purchases for now. Bitcoin is a digital decentralized coin that operates peer-2-peer and is stored in a digital wallet.
FAQ
1. Why can’t I pay in Bitcoin on DHgate.com?
Ans: You can’t because DHgate does not operate a Bitcoin wallet to store Bitcoin and most of its suppliers based in China majorly trade in fiat currency.
2. Will DHgate start to accept Bitcoin payments in the future?
Ans: That remains to be seen but for now, there is no attempt to add Bitcoin as another medium of payment
