FAQ

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Bitcoin Made Easy.

The advanced system allows you to securely buy, sell and accept Bitcoin.

Why use that if I can just use my phone or tablet?

The purpose of the terminal is to improve the bitcoin experience in a few different ways:

Our terminal is much more solid than a cell phone
Integrated receipt printer allows both parties to walk away with paper proof of transaction
Customers are used to seeing this type of handheld payment terminal
Retailers often employ cashiers who may not be comfortable using a laptop
A specialized device is less attractive to thieves
Of course, since the Coinkite terminal works well on mobile smart phones, you are certainly welcome to use a phone for retail payments.

 


 

Can I convert back into fiat (government money)?

Yes, we enable you to auto forward to any exchange of your choice.

 


 

Why not just use the same terminal as Visa, Mastercard and so on?

The incumbent players in the payment industry are interested in protecting their existing revenue streams and have not exactly been jumping onto the Bitcoin bandwagon. In fact, they may be actively interfering with its adoption.

Coinkite was founded to create a parallel and new system of payments that works entirely on crypto-currencies. Having a physical machine at one end of the payment path is a key part of that goal.

As far as the POS is concerned, we are using PCI-certified hardware and our own specialized software.

All the hardware security features of this terminal required by Visa and Master card, do remain in place.

 


 

Why would anyone want to carry the Coinkite card?

The unique Coinkite card has a bitcoin address on the back: this allows you to present the card to any bitcoin user (not just Coinkite users) and accept a payment from them on the spot. The funds will appear in your Coinkite account without any effort on your part.

The card can also speed your use of the Coinkite terminal, so if you make frequent visits to an establishment with the terminal, your checkout process is much faster and more secure.

In time, we will offer additional programs and benefits to our card holders.

 


 

How much does the terminal cost?

Go to Store

 


 

Does the terminal work over WiFi or Cellphone (GPRS)?

Yes, both Wifi and mobile phone (GPRS) options are included in the standard payment terminal.

 


 

Can the Terminal connect without Wifi in remote locations?

Yes, the Exchange/Retail terminal comes with internal GPRS (Mobile Phone).

 


 

Can customers pay with other wallets?

Yes, the terminal prints a QR code on the bill for them to scan.

 


 

Can I program the terminal to automatically charge a premium (mark-up) percentage?

Yes, you can set a mark-up on the exchange rate.

You can also choose which public bitcoin exchange is the reference value for the spot rate, or use Coinkite’s exchange rate as the reference.

 


 

Do my users need to have a Coinkite debit card to be able to buy/sell with me?

No, they can use any wallet they want.

 


 

Does this terminal integrate with other wallets to send and receive? (e.g.: Coinbase, BitPay, BIPS, etc…)

Yes, it is a Bitcoin (and Litecoin) device and inter-operates with any wallet or service that can send coins to a QR code printed on a receipt.

The POS can also scan directly from the screen of a smart phone or laptop (and paper of course).

 


 

Do they have skimming or tamper protection?

Yes, these terminals have the same physical security features as PCI-certified hardware.

Does it work with registers and POS or is it strictly standalone?

Integration with standard POS systems is on our roadmap, and the hardware platform already includes the required RS-232 serial port.

 


 

How does this work out with confirmations, would the consumer have to wait 10 minutes?

We can immediately confirm amounts from customers that are using Coinkite’s accounts, and in other cases, we offer the choice to the retailer as to how many confirmations they require. We feel that if you are transacting small amounts, then accepting zero confirmations (for instant payment) may be a reasonable risk.

 


 

Why not just use computer, tablet or smart-phone?

Those can be used, but a special-purpose machine has these advantages:

General purpose hardware is more desirable for theft.
Our terminals already work with current Registers and Point-of-Sales by serial port.
Computers, tablets or smart-phones are more fragile: they will break if dropped.
Our terminal hardware is field-proven in Restaurants, Convenience Stores, General Retail, Clubs & Bars, Spas, etc…

 


 

Can I use it in the jurisdiction I run my business?

Merchants using the terminal must comply with all legal requirements in any location where they are made available to users. It is the buyer’s obligation to understand and conform to all local laws. The Irish Bitcoin Foundation can offer advice in the area.

 


 

What hardware warranty do you offer?

Coinkite warrants against defects in materials and workmanship under normal use for a period of 1 year.
We do not warrant batteries or provide replacement thermal paper rolls.
Hardware repair — when we receive your damaged unit, we’ll either repair it or send you a replacement. You pay for shipping your unit, if the replacement or repair is authorized we pay for shipping it back to you.
Hardware exchange or advanced replacement — when we receive your Terminal, we’ll replace it or, with the hold of a deposit in bitcoin, we’ll cross ship your replacement before we receive it. In both cases, you pay for shipping your unit.
Replacement parts can be ordered and are subject to availablity.
Use of Coinkite Hardware is subject to our Terms of Service.

 


 

Where can I find the manual of operation?

You can find the up-to-date manual by clicking here.

 

Need a demo? Visit our store, we are open 6 days a week to the public.