During the checkout process on dsgarms.com users will be presented with an option to pay with cryptocurrency (in addition to standard credit card payments).
To complete an order with cryptocurrency 1) choose from a selection of cryptocurrency types that are accepted and enter a wallet address to complete the payment. Or 2) Customers that have an account at Coinbase (coinbase.com) can simply scan the QR code that is presented during checkout to complete their payment.
We currently accept BTC - Bitcoin, ETH - Ethereum, USDC - USD Coin, DOGE - Dogecoin, LTC - Litecoin, Dai, and BCH - Bitcoin Cash. Customers may pay directly from their cryptocurrency wallet to DSG with these or use your favorite exchange to swap for one of the above cryptocurrencies and complete your order.
Orders paid via cryptocurrency may incur a delay in settlement and shipping as compared to credit card payments. We expect these delays to be short and as crypto payments become more common our goal is that they will actually process faster than traditional credit card payments.
During periods of large volume, network issues, or market volatility DSG may temporarily restrict the use of some or all cryptocurrency payments.
Decentralized Finance, or DEFI, is the use of a blockchain to process payments and transfer currency without the use of banks. The blockchain in simple terms is a series of encrypted records distributed across a large network of computers. This network allows for the replacement of a centralized banking authority and card processors in digital commerce.
While the use of the blockchain and DEFI to provide banking services is a new and sometimes volatile technology, DSG supports the ideas behind it and the promise of conducting business without large organizations and their sometimes political motivations controlling the payment process.
Once you own cryptocurrency it can be stored on a small hardware device (cold wallet) or on any number of local or software wallets (hot wallet). Then your wallet address is all that is required to make purchases. No credit cards, banks, or exchanges are required. Some exchanges are now also offering traditional credit cards that can be backed by cryptocurrency instead of the U.S. Dollar. Visa reported over $1 billion in crypto transactions in the first six months of 2021. And they expect it to grow quickly.
As with any new technology, the information presented through the media is at times ill-informed if not intentionally misleading. One of the biggest misconceptions is the idea that all cryptocurrency transactions are anonymous. In reality, the blockchain records for most cryptocurrency types are publicly available to anyone with an interest and the technical ability to view it. What does not happen with cryptocurrency is that an organization cannot easily share, compile or study your spending data for political or commercial purposes. Your identity and your transaction history as related to you, as a named entity, are only available to the exchange you choose to share it with. Each exchange has its own rules and policies regarding privacy.
For new users, a centralized exchange (CEX) is a great way to do research and get started with crypto*. They offer services such as simplified interfaces, bank transfers, credit card funding, and in some cases trading can be faster. At the same time, a cryptocurrency user has the choice to use a decentralized exchange (DEX). A DEX does not offer the same convenience features (like converting Dollars to crypto, instant trades, etc.) as a CEX, but a DEX can be utilized for more privacy and to have more control over fees and transactions.
*An important point we would like our customers to understand is that using a centralized exchange (CEX) does allow the exchange owners the ability to control and share transactions (much like a bank) if they choose. We have seen some CEX's recently enact policies that in some ways mirror the current banking system rules. We encourage users to do some research before choosing their exchange