Survival Gear Systems is very proud to announce cryptocurrency acceptance! Effective now, shoppers can use Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) to purchase their favorite solar panels/kits, gas generators, bug out bags & survival gear.
This is a big step forward for both the company and its beloved customers. Our off-grid proponents are typically weary of prying corporate/govt eyes on the hunt for more data. Bitcoin allows for pseudonymous transacting with no intermediary nor central authority. Bitcoin transactions are peer to peer, censorship-resistant, and final.
To help guide the process of spending BTC/ETH/LTC on Survival Gear Systems, this article will break things down and provide helpful information for novices.
Spend your Bitcoin at Survivalgearsystems.com
For the familiar:
- At checkout, there will be a Coinbase payment option - select that. You will connect to CB Commerce API. Make sure your personal wallet is synced.
- Choose your coin to pay with. An address + QR will populate with a spot price to send. You will have one hour to confirm the payment.
- If the network is congested and you don't receive a confirmation, please email us with the tx hash that shows the payment sent within the hour.
For the unfamiliar:
Bitcoin is the king of the cryptocurrency segment. After 10 years Bitcoin has solidified itself as a truly decentralized, global monetary network. The value of a single coin has gone from fractions of pennies to over $20,000 at its peak. The correlating BTC-fiat trading markets are wildly volatile. Rapid, steep increases in relative fiat value are typically followed by crushing, prolonged bear markets.
At a minimum, Bitcoin offers a reprieve from crony monetary management by sovereign governments. Ask a Venezuelan if they'd rather have BTC or their wheelbarrows of Bolivars. Think of all the African nations with million-dollar bills, or simply recognize the inability of anyone to execute QE on BTC.
For more background on Bitcoin and cryptocurrencies in general, feel free to review the following:
How do you acquire Bitcoin?
Three ways -
1. Mine it with specialized hardware called ASICs.
You will need a wallet to hold your coins, and they come in a variety of shapes and sizes. Hardware wallets are the most secure, online wallets are the least. The general rule of thumb is if you have more than $50 in crypto, you should have a hardware wallet (i.e. - Ledger Nano series)
How do you send Bitcoin?
Your bitcoin is held in an address, which is interacted with through your wallet. Your bitcoins are never held locally on your computer, rather, your wallet acts as a key to your address on the blockchain. If you watched the video from above, you'll remember the phrase not your keys not your coins!
When you send Bitcoin, you will need a destination address. For our purposes, when you setup your account and go to checkout you will see a variety of payment options. You will want to select the Coinbase Commerce option:
When you click complete order, you will then be prompted with this screen. Here, you will pick the currency you wish to use:
If you selected BTC, you will then be prompted with an address to send a specified amount of Bitcoin to. The amount is a spot price that is equal to the USD value of your purchase.
Important: Do not send any bitcoin to the address in the picture below.
Doubly Important: Do not send BTC to an ETH address or vice versa.
When your transaction is confirmed, your order will be complete. Please keep in mind that in the event of a return, you will receive back USD value of your purchase in the form of store credit; not the same amount of Bitcoin you sent. We do this because of the variance of price in Bitcoin and how it affects our book-keeping and tax liabilities.
Finally, if you are new to cryptocurrencies and would like to spend them at Survival Gear Systems, it's advised to reach out via chat/phone/email with any questions you may have before transacting.