BidorBuy, BitX partner to offer Bitcoin as payment method

South African online marketplace BidorBuy will now be offering Bitcoin as a payment option for customers. The service is offered in partnership with Bitcoin payment platform, BitX.

“Bitcoins are convenient and easy to use and although relatively new, the virtual currency has a lot of growth potential. Our partnership with BitX is an integral part of our efforts to always offer the latest, innovative solutions to our users,” says Bidorbuy CEO, Jaco Jonker.

When checking out, customers will be presented with the option to pay with Bitcoin. BitX will then provide the customer with a unique Bitcoin wallet address and a real-time exchange rate, which is valid for 10 minutes. The payment method is instant with both the buyer and seller being notified of the transaction.

Read more: Is Bitcoin about to seriously take off in SA?

Utilising this payment method means lower transaction fees, no chargebacks, and is available to customers in most markets.

All products on the Bidorbuy website will still be listed in Rands.

According to both CEO of BitX, Marcus Swanepoel, and Jonker, this cryptocurrency partnership should help spread Bitcoin in not only South Africa, but African continent as a whole.

“Bitcoin has the potential to grow and become a truly universal digital currency as more and more people become aware of it, get accustomed to it and start using it,” adds Jonker.