Currently all payments take place in ETH, though it’s easy to convert BTC.
BitBoost Marketplace is built on Ethereum, due to the unique functionality provided by the platform’s smart contracts. Ether (ETH) is Ethereum’s native currency, the ‘gas’ that fuels all transactions on the system. As such, it makes sense to use ETH as our default currency for payments on BitBoost Marketplace – it’s the most secure, frictionless option.
Of course, there are many other cryptocurrencies and it makes sense to accept these as payment. We do this indirectly via ShapeShift, an instant exchange app that we’ve built into the wallet. It means customers can send BTC they’re converted on-the-fly to ETH. Again, this is the most secure, user-friendly option.
With an eye on mass-market adoption, we do plan to implement a fiat payment service as soon as it is viable, allowing customers to pay by more traditional means. We’ll give more details on that in due course. In the meantime, we will be offering TrueUSD, a stable coin, as a way to pay while avoiding the volatility of normal cryptocurrencies. For more information, check out our blog post on the subject: https://www.bitboost.net/blog/trueusd-to-be-integrated-in-the-bitboost-marketplace/