JawsTec 1st 3D printing company to accept Bitcoin as payment
As bitcoin is increasingly used by consumers and retailers, JawsTec announced that it now offers bitcoin as a payment method for its 3D printing services.
JawsTec hopes to make their 3D printing service more accessible by allowing bitcoin as a payment method. With 3D printing itself being an emerging technology, they are excited to be at the forefront of this new payment system.
For those unfamiliar with bitcoin, JawsTec explains that it is a decentralized digital currency that can be sold, bought, and traded without the use of a bank or other financial institution as an intermediary. The use of this cryptocurrency has many advantages which have been described below.
Benefits of Using Bitcoin
- Fast transactions – Transactions using bitcoin are significantly faster than standard payment methods. With no intermediaries in the mix, individuals transfer bitcoins from one digital wallet to another. Bitcoin transactions also do not require verification of a person’s identity to complete the transaction, which greatly speeds up the process.
- Low fees – Most payment processors charge 2-4% transaction fees on all transactions. Since middlemen are not involved in the bitcoin exchange, transaction costs can be extremely low. This will allow JawsTec to pass the savings on to the consumer with reduced part costs.
- Secured– Because bitcoin is a fully digital currency and not physical, it cannot be stolen from a person. Someone would need to know an individual’s private keys to their wallet for an account to be hacked. It is also impossible for chargeback fraud to occur with bitcoin because the transactions are irreversible. Payments are permanent with this system and a consumer should contact the company directly to request a refund.
- Expanded market – Since bitcoin is not tied to or supported by any country, government or financial institution, the high fees and barriers associated with international trade are greatly reduced. Bitcoin remains the same value no matter where someone is. As a result, JawsTec will be able to compete more easily in the global 3D printing market, especially with the increase in Manufacturing on demand.
How to use Bitcoin to make a transaction
Transactions can take place anywhere the Internet is accessible. In addition to internet access, all that is required to transact using bitcoin is a bitcoin wallet and ownership of bitcoin itself. To send bitcoins from one wallet to another, enter the business or personal wallet address and send. There are also bitcoin debit cards that allow individuals to make purchases or withdrawals from vendors or ATMs that don’t even offer cryptocurrency as a form of payment. The card will need to be preloaded with a fixed amount of bitcoins and it will be converted into the correct currency at the point of sale.
JawsTec is excited about the opportunities and possibilities that will arise with the opening of bitcoin as an accepted method of payment. Their priority is to make the highest quality 3D printed parts as affordable and accessible as possible for their customers. They believe that adding bitcoin as a payment method will help them move towards this goal. Ready to make a purchase using bitcoin? Get one 3D printing quote from JawsTec for all 3D printing projects and select bitcoin as your payment method when you’re ready to purchase!
Disclaimer: This is a paid publication and should not be considered news or advice.