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Payment Information - BitCoin

Understanding Bitcoin

Bitcoin differs from conventional currency as it is completely virtual, a digital form of currency. Though they will never physically be in your hands, Bitcoins are transmitted via a peer-to-peer network which enables you to transfer them to a recipient when purchasing goods and services.

How do I obtain Bitcoins?

Wallet

Bitcoins need to be stored in a wallet, but not one that you keep in your pocket, an online wallet which you can download or gain access to via an online wallet provider such as Blockchain (www.blockchain.com). Once set-up, you can then manage your wallet through a mobile phone app to keep abreast with any payments made. However, be very careful not to lose your online wallet as it will result in you losing all your Bitcoins unless fully backed up beforehand.

Mining

Once you have your wallet fully functioning you can then start to obtain Bitcoins. How do you do this? Bitcoins have to be generated in a process called “mining” and in order to do this you have to download a software “miner” which works on your behalf to produce them. The “miner” verifies Bitcoin transactions and then records it on a block chain. It’s beneficial to have great hardware performance as this enables the “miner” to work harder and consequently produce a greater quantity of Bitcoins.

However, as there are only a finite number of Bitcoins available, the Bitcoin network purposely controls mining difficulty to limit their production. Mining can therefore be a difficult and expensive process and very often isn’t a preferred method of generating Bitcoins. You can read more about mining here: http://www.weusecoins.com/en/mining-guide.

Purchasing Bitcoins

When you’re about to go abroad on holiday you obtain your foreign currency via an exchange and you do exactly the same when buying Bitcoins. It can be converted into numerous currencies and is similarly subject to changes in exchange rates.

You can find out more about buying Bitcoins here: http://www.weusecoins.com/en/getting-started.

How do I pay with Bitcoins?

Simply place follow the order process as normal, and when you reach the final step where payment is required, you will see a 'Pay with Bitcoin' icon. When this is clicked, you will be presented with a BitPay bitcoin invoice associated with your order. You then have 15 minutes (indicated by the countdown timer shown on the invoice) to make a payment of the number of bitcoins shown to the indicated bitcoin address.

If you have a bitcoin wallet client application which integrates with your browser, you should be able to simply click to generate a bitcoin payment from your wallet which you can then authorise. Otherwise, you will need to manually enter the payment details into your preferred bitcoin wallet software. A QR Code is provided which facilitates bitcoin payment with mobile device applications - just scan the QR code into your BitCoin payment app.

Once payment has been made you will see an order confirmation message from ourselves, and then some time between 10 minutes and an an hour later (once the transaction has been signed by the bitcoin Block Chain) you will receieve an email from ourselves confirming that the order has been accepted. As always, a second email will be sent when the order is dispatched.

Cancelling an order

If you wish to cancel an order and have your Bitcoins refunded then just get in touch with our customer services team.

Gaining a refund

Gladiator do not possess any Bitcoins so in order to process any refunds we utilise a system called BitPay who refund at the GBP exchange rate at the time of refunding. It can take a while for refunds to be completed.