Patrick M. Bryne founded Overstock.com as online e-commerce in 1999. It is an online retailer which sells furniture located in the United States of America, Midvale, Utah near Salt Lake City. Being an e-commerce business, the company deals with both new and cleared goods on its platform. Let’s know Does Overstock Accept Bitcoin?
How do I pay with Bitcoin in Overstock?
Bitcoin is a digital currency known for its integrity which ensures the security of online payments. Overstock has since partnered with different Coinbase to facilitate an easy mode of payments. Bitcoin wallets allow customers to send and receive payments.
Overstock was one of the online retailers to accept the use of cryptocurrencies to facilitate payments for the goods purchased by customers. The company started accepting Bitcoin in 2014. The company’s decision to accept payments by the use of bitcoin was influenced by the fall in share price which was continuous. This was a move to explore another secondary stock. Therefore, it became one of the first businesses to accept the use of cryptocurrency in online payments.
Making payments using Bitcoin
Only customers who are already Bitcoin users can access this mode of payment. If one is a user already, he/she can place an order using this platform. The following steps show how to place an order using the Bitcoin platform ;
- Visit the company’s website www.overstock.com.
- Identify and select the product which you would like to buy from the retail page.
- Several options are available under the checkout section, select pay with Bitcoin.
- After verifying the order particulars, click on submit order now.
- You will finalize your transaction by using the Bitcoin address
It is imperative to note that orders paid with Bitcoin are not to be used alongside other modes of purchase. This is in exception of the overstock.com gift cards, club O rewards, in-store credit, and /or coupons.
Customers without Coinbase accounts or Bitcoin wallets
A situation may arise where a customer has no Coinbase account or Bitcoin address and would appreciate using it as a means of payment. Therefore, one can start by having a Coinbase account to facilitate their payments through this means.
How does one open a Coinbase account?
Beforehand, a person needs to be at least 18 years old and has a government-issued photo identification. Coin base does not accept passport cards. In addition
The following are the steps that one needs to follow to get a Coinbase government-issued wallet ;
Create an account
- One can create an account by visiting https://www/coinbase.com or downloading the Coinbase App on Android or IOS to begin
- After creating a wallet one needs to verify their Email
- It is through a link sent to the email address they had registered
Verify your phone number
- An individual will be required to add their phone number where a code will be sent. It will verify the phone number provided.
An individual will be required to provide personal information, their names, occupation, and address. It completes the application process, and they will have to wait for further instructions through their email address.
Verification of identity
One will be required to upload their ID photos and their photos for verification of their identity.
Link a payment method
To facilitate debit and credit in the Coinbase account, one needs to link their account with a payment method. This however is dependent on the country of the individual.
This whole process will provide a customer with a Coinbase account with a Bitcoin wallet. As a result, they can make payments and place orders using Bitcoin in Overstock.
Frequently Asked questions
- What is Bitcoin?
Bitcoin is a type of deconcentrated digital currency that is exchanged between individuals for goods and services. They are designed without placing reliance on any regulator. This is to facilitate the transfer and creation of money without any interference. The creation of Bitcoin is dependent on predictability and the rate of decrease.
- How can one get Bitcoin?
A special process is used to get Bitcoins where special computers whether they explore and solve algorithms. They attempt to find solutions from difficult algorithms and upon getting an answer a Bitcoin is mined. Further, one can obtain bitcoin by purchasing them at a Bitcoin exchange.
- How are one’s refund issues with Bitcoin?
Orders which are returned are paid back in Bitcoin. They are valued at the full value of the product and the exchange rate when the process is completed. Thus, the repayment will be paid through the information which is provided in the customer’s Ovrstock.com account.
Therefore, Overstock offers Bitcoin as a payment option for its customers. It is a safe and secure mode of payment. Therefore, Bitcoin is an efficient and alternative means of payment used.