Cryptartica starts accepting newer digital coin

Cryptartica, the UK-based design platform, announced on 10 March that it has started accepting both Bitcoin Cash (BCH) and Bitcoin SV (BSV).

Cryptartica acknowledged that it has accepted BCH since its inauguration, but has decided on the requirement to support BSV. This comes as a recognition of the importance of the BSV community.

Cryptartica further added that with the Bitcoin Cash split back in November and witnessing its community divided in half, it had to work on a clear vision. Cryptartica reconciled to resume from where it left off last year and decided on the latest offering.

Cryptartica conveyed the idea about how it would facilitate to accept both the digital coins. Cryptartica expressed that with only one cryptocurrency, the payments are straightforward. But with two digital coins, the process is complex. There are distinct options to handle payments for the customer and the artist.

Cryptartica enlisted three sample options that are evident if an artist needs to be paid in BSV. First, accept customer payments in BCH and credit the artist with BSV. The next is to accept all payments in BSV only. Finally, accept all payments in BCH only and pay the artist BCH as well.

A GOOD SIGN OF PROGRESS WHERE CRYPTOCURRENCIES ARE SEEPING INTO VARIED DOMAINS. A WIN-WIN FOR THE COINS AND CONSUMERS.

While citing that none of the options is perfect, Cryptartica added –

“The first option exposes us to the risk of volatility and further accounting requirements. Additionally, we also need the added infrastructure to run, the resources to actually implement and integrate it into our platform. We are a team of 2, with one developer. So that is not really an option we want to explore right now.”

Cryptartica went on to elaborate on the loopholes of the second and third option. Cryptartica emphasized that the second option would lead to the bad user experience. This option would potentially drive customers away. Customers could be led to paying twice for the same cart checkout, once with BCH and next with BSV based on the artist’s preference.

Earlier this month, Cryptartica blogged about its Bitcoin Cash London Meetup group. Cryptartica had conveyed that the original purpose of this event was to promote and support the new coin.

Cryptartica concluded that the best would be the third option. It emphasized that the last option has no impact on its customers and it requires smaller development effort compared to the first option. Another salient aspect is that the artists will be able to quickly exchange their funds on services such as Shapeshift, Changely, and CoinEx, making this “the most frictionless option.