Bitcoin at GMG! FAQ!
Following our Buyer’s Survey in May, we listened to 89% of you who told us that “It’s important for stores like Green Man Gaming to offer a wide selection of payment methods” and are happy to announce that from today we are offering Bitcoin as payment option for our customers who currently pay in USD, with other currencies coming very soon!
Below is our guide to Bitcoin, but if you have any more questions, drop us a line or leave a comment:
What is Bitcoin?
Bitcoin is a new payment network, and uses peer-to-peer technology to operate with no central authority or banks. With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government. Instead, the management of transactions, and the issuing of Bitcoins is carried out collectively by the Bitcoin network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin, and everyone can take part.
Where do Bitcoins come from?
Bitcoins are created by the Bitcoin network. Bitcoin Miners who use special software to solve math problems (proof that when a Bitcoin transaction takes place, the Bitcoin in question has come from the owner of the Bitcoin Wallet used to pay for the transaction), and are issued a certain number of Bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to ‘mine’. The Bitcoin network confirms waiting transactions, and verifies this with strict cryptographic rules (more maths!).
Why is Green Man Gaming offering Bitcoin?
The results from our Buyer Survey in May told us 89% of you “think it is important for stores like Green Man Gaming to offer a wide selection of payment methods.” Bitcoin is just one option in a range of virtual currencies that we offer. Following our survey, we know you have a range of expectations and preferences when it comes to how you want to pay for games. The advantages of offering multiple ways to pay, means you have easier access to the games and content you love. We are offering Bitcoin and other currencies as part of a range of payment methods as we think it's important to meet your needs.
How do I use it?
If you currently pay in USD on Green Man Gaming, you will be given the option to pay with Bitcoin when you visit the Basket section of the site. You can simply select Bitcoin as your preferred payment option, and will be directed through the transaction. You can chose to follow the instructions given on the payment page, and pay via your BitCoin wallet, or use the QR code in combination with your BitCoin wallet app, to complete the payment and purchase.
Is it safe to use?
Bitcoin transactions are secured by military grade cryptography. Nobody can charge you money or make a payment on your behalf. We strongly recommend that you take steps to protect your Bitcoin wallet, as you would your regular wallet! Stored in a safe place, a backup of your wallet can protect you against computer failures and many human mistakes. It can also allow you to recover your wallet if your mobile or computer is stolen if you keep your wallet encrypted and we recommend using two-factor authentication. With Bitcoin, there is no credit card number that some malicious actor can collect in order to impersonate you. In fact, it is even possible to send a payment without revealing your identity, almost just like with physical money. All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. However, the identity of the user behind an address remains unknown until information is revealed during a purchase. Bitcoin Miners help keep the Bitcoin network secure by approving transaction. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.
You can find more information here.
Can I use it on any purchase?
Absolutely! Bitcoin can be used to pay for any product on the Green Man Gaming site.
Can I use it for multiple purchases?
Yes, you can add as many things as you like to your basket - in fact we actively encourage you to do so - and you can choose to pay the total basket amount when you get to the payment page with Bitcoins.
Can I use it in conjunction with a voucher?
What would a great Green Man Gaming deal be without an extra special voucher? As with any use of a voucher, the discount will be applied during the checkout process and you can choose to pay the total basket amount when you get to the payment page in Bitcoins.
Can I use it in conjunction with GMG Credit?
Just as you can use a voucher to add a discount to your basket total, so you can use GMG Credit towards your purchase, and you can choose to pay the total basket amount when you get to the payment page in Bitcoins - see where we are going with this? ;)
How is the Bitcoin price of games determined?
All products on Green Man Gaming are under constant pricing review by our vigilant and expertly skilled team. Products in your basket will appear in your local currency - which is currently only available to customer who pay in USD, but will will be announcing more currencies in the future. When you choose to pay in Bitcoins, the value of your basket is calculated in USD - which then informs the Bitcoin price to pay, calculated on the current valuation of Bitcoin.
What happens if the valuation of Bitcoins changes quickly? Am I at risk?
There is no risk to you - the consumer, as we absorb any risk as the retailer, and we carefully manage our payment systems. If Bitcoin or similar virtual currencies were to appear to hurt our customers, we would immediately stop offering it as an option to pay. Our commitment is to offer you the very best deal we can at the point of sale, no matter what payment offer you choose.
How do Bitcoin refunds work?
Any transaction issued with Bitcoin cannot be reversed, nor will be refunded at this time. Check the GMG site for our Terms and Conditions.
If you have any suggestions or feedback about Bitcoin we'd love to hear it! Please leave a comment below!