Scan Computers has started accepting bitcoin payments, making it the first major PC retailer to accept the cryptocurrency in the UK.
is a bit more than your average PC retailer. It is a big player in the channel, it is one of the biggest sellers of high-end computers in the UK and it builds a range of pre-overlocked rigs for enthusiasts.
A crypto love affair
Since it caters to a geeky user base, Scan quickly recognized that digital currency was an interesting trend to cash in on.
As a result, the retailer decided to start selling mining rigs under its own 3XS brand. So far, the effort has been limited to litecoin miners (the rigs are essentially PCs configured to mine litecoins).
Plenty of potential
Gorbold said Scan likes to think of itself as an innovator, and that he believes it is the first company in the sector to embrace bitcoin. He added that Scan is excited about the potential of bitcoin and doesn't want to follow the crowd – it wants to try out new ideas.
Like many other retailers, Scan uses BitPay to handle payments.
Users simply need to choose bitcoin as their payment method, complete the order with bitcoin and BitPay will take care of the rest. It will convert the value of the order and the buyer can then either scan the QR code or manually transfer the amount to the displayed wallet address.
The transaction requires six confirmations, it is also possible to cancel orders and receive refunds using the exchange rate at the time of refund.
British merchants are doing quite well in cross-border sales. Britain is not in the Eurozone and since 2008 the GBP/EUR exchange rate has worked in the nation's favour.
In many cases it is cheaper to buy and ship a computer or high-end graphics card from Britain than it is to buy one in many Eurozone members. Digital currencies have the potential to make British e-tailers even more competitive.
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