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Bitcoin

365cups lets customers pay for their order using Bitcoin with no transaction fees.

We are actively promoting Bitcoin to our venues.  See a list of venues currently accepting Bitcoin.

Bitcoin (BTC) is the first ever digital internet currency that has no central authority like a private bank, government or reserve bank.  It is gaining popularity around the world extremely fast.

You can learn more about Bitcoin here, but in summary:

  • No transaction fees - In keeping with our 'free for the customer' motto, no % cut per transaction, no fees per transaction
  • No chargebacks - Bitcoin transactions are irreversable
  • Easy to use - Accept payments just like store credit.  Its invisible to your staff.
  • Secure - Your Bitcoins are stored offline - if our server is hacked, your Bitcoins are still safe
  • Bitcoins cannot be duplicated or printed - Unlike government backed currencies, Bitcoin cannot be printed out of thin air
  • Accepted worldwide - You can spend Bitcoins you earn anywhere people accept Bitcoin - in any country, wherever internet is available.

How Bitcoin works with 365cups

  1. Currently you can only 'top-up' your Bitcoin balance using our website (Currently the QR code only visible via our website).
  2. When you use the iOS, Android or web based App your credit will then reflect your Bitcoin balance in the venues selected currency (But only in venues that accept Bitcoin)
    1. e.g. You deposited 1 BTC, which would be reflected as $130 credit (depending on current exchange rate, and the venues currency).
  3. Then send an order through using your credit
  4. Your Bitcoin balance is then deducted automatically based on the current exchange rate (Exchange rate is the 7 day average from bitcoincharts)
  5. Go pickup your order!

Currency risk

When you deposit Bitcoins to 365cups, they stay as Bitcoin, and are not converted to any currency.  So as the Bitcoin price rises, you will be able to buy more coffee and food, and vice versa.

Withdrawing your Bitcoin

You can withdraw your outstanding Bitcoin balance.  The current recommended miners fee will be deducted from your balance when withdrawing (currently 0.0005).  You can withdraw any amount that is greater than the miners fee.

Fees

  • There are no fees when purchasing items using Bitcoin (just like our regular in-store credit system)
  • There are optional miners fees when depositing your coins
  • There is a standard miner fee of currently 0.0005 BTC to withdraw your Bitcoins

Suggestions?

If you have any questions, feel free to contact us via support@365cups.com
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