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Thursday, May 29, 2014
DISH To Start Accepting Bitcoin
Pay-TV provider DISH becomes the largest company to accept bitcoin, starting from the third quarter.
DISH has selected Coinbase as the payment processor for
bitcoin transactions with its customers who choose to pay
their bill online with the bitcoin wallet of their choice.
DISH will use Coinbase's Instant Exchange feature to exchange
bitcoin payments to U.S. dollars at the moment of the
Bitcoin is a digital currency that is not backed by any
government or central bank and is bought and sold on a
peer-to-peer network independent of central control. Users can
transfer bitcoins to each other online and store the currency
in digital "wallets".
Coinbase is one such digital wallet.
"We always want to deliver choice and convenience for our
customers and that includes the method they use to pay their
bills," said Bernie Han, DISH executive vice president and
chief operating officer. "Bitcoin is becoming a preferred way
for some people to transact and we want to accommodate those
The bitcoin payment option will be available for DISH
customers choosing to make one-time payments on mydish.com
starting in the third quarter (July 1). DISH will continue to
offer the online payment options such as via credit card,
debit card or bank account.
The advantage of Bitcoin is that most bitcoin firms such as
Coinbase and BitPay do not charge for transactions. On the
other hand, credit card companies charge around 3 percent in
transaction fees and PayPal's commission can go as high as 4
However, the skepticism about the future of bitcoin remains,
with critics pointing to recent setbacks such as the Mt. Gox