Blog Announcements

Pozible now accepting pledges in Bitcoin

ByRick Chen · 25th Oct 2013

Pozible project creators can now accept pledges in Bitcoin as a payment method!


Requests from users for Bitcoin support have been rolling in consistently in recent months, so we listened.


 

What is Bitcoin?


Bitcoin is a form of digital currency which exists entirely online and can be used for making payments and purchases between users able to exchange it.


You manage your Bitcoin balance with software called a (virtual) 'wallet' - we use and recommend our friends Coinjar. It's great. 


For more information on Bitcoin, check out the link below.

http://coinjar.io/what_is_bitcoin



How it Works:


  • Project creators need a free Coinjar account to accept Bitcoin on Pozible.  
  • Project supporters are not required to have Coinjar account, but do need to provide a return wallet address when pledging. This address is used to refund Bitcoin if the project is unsuccessful.
  • Unlike other payment methods, Bitcoin pledges get processed immediately into Pozible’s holding account and the equivalent exchange amount of the project currency is added to the project total (Bitcoins are NEVER actually converted, this is purely to show an accurate amount in the funding progress total)
  • Exchange rates are provided by Coinjar and locked at the time of pledge.
  • If the project succeeds, Bitcoin pledges are transferred to the project creator's wallet. Pozible’s standard 5% service fee applies, plus Coinjar's transaction fee of ฿ 0.001 per transaction. 
  • If the project is unsuccessful, Bitcoin pledges are refunded to the wallet address the supporter provided to pledge. No service fee is taken. 
  • Projects can not set their currency and target in Bitcoin.  


Want your project to accept Bitcoins? Here's how:


  • Create a Coinjar account: http://coinjar.io

     

     
  • Log in to your Pozible account. Go to My Stuff, Manage/Edit and Payment. Scroll down and tick the Bitcoin option and enter the email you used to registered your Coinjar account. Click Save.
     
 


Easy! But if you need help, please get in touch: support@pozible.com
 

Discussion You must Log In to post a comment

This is a very awesome addition to pozible! Although people have got to start ticking that box. I'm waiting for projects I can actually back! (which I assume will come along in the next few months) January 20 2014 · Reply

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