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Cash Payments Using BTM’s

In an effort to stay on the forefront of payment problems that seem to be almost inevitable in this industry, we are always on the lookout for new, SAFE, ways to accept payment. It would make all of our lives easier if we could place a credit card terminal right on our website; however, if we were to do that, we would have been shut down years ago.

The newest craze in the financial world is Cryptocurrency. Although many of you may not use this, it is one of the safest options out there today. A new tool that is gaining traction around the country are BTM’s, short for Bitcoin ATM’s. This is a way you can take cash to a location, verify yourself with a just a phone number, scan a code that we provide to you, and deposit cash in the ATM.

Although there are thousands of these Cypto ATM’s across the country, they seem to be more prominent in the more heavily populated areas… thus, this will not be a viable option for every one. To see if you have a BTM close to you, simply CLICK HERE and enter your address. A list of BTM’s will populate starting with the closest. Only select this option at checkout after you have verified that you have access to a BTM in your area.

 

The fees on this are a bit higher (for now)… we believe these fees will go down over time once these grow even more in popularity. You will see the fee schedule for each BTM near you, but don’t be alarmed by this. Currently, fees are anywhere from 10-14% of the purchase amount; however, we have set forth a flat 5% fee charged to the customer. The remaining percentage will be absorbed by Gear Depot.

The process here is very simple and, from the feedback we have gotten in our test groups, the longest part of the whole process is depositing the bills in to the “vending machine like” ATM.

At checkout, select the BTM Cash option (by selecting this option, we assume you have already verified you have a BTM close by). When we reply with payment info (within 24-hours), we will send you the total (inclusive of the 5% fee), along with payment instructions and a QR code that you will take with you to the BTM (usually just saved on your phone). Here is a breakdown of how the BTM payment process will work.

1. Once you get to the BTM, you will need to verify yourself with your mobile number.

2. Once you enter your phone number, you will receive an SMS Text Message with a verification code; enter that code when prompted.

3. Once verified, you will be given the option to buy or sell Bitcoins, select BUY.

4. You will then be asked to scan the QR code (which we will have provided to you).

5. Once the QR code has been scanned, you can then enter your bank notes (in the amount of your order and 5% fee).

6. Select “I’m Done” or similar and you will be given either a paper receipt or a text message confirmation.

7. Take a picture of the receipt, a screen shot of the text message, or a picture of the BTM screen when you are finished.. this will show the amount of BTC purchased and a confirmation code. Send this to us via email, we will confirm, and your order will be shipped out the next day!

If you have any questions on this new payment method or something does not make sense to you, feel free to reach out.

Thanks,

G and all of Team Gear Depot

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How to create a Bitcoin wallet?

The easiest way to create an account, or wallet. Here is the company we recommend as they are very easy to set up.

https://blockchain.info/wallet/#/

To create an act go to the address listed, then at the top left there is a green button that says ‘Create a free blockchain wallet’. Click that and go through the progressions to create the wallet. It should only take a few minutes. Once you are done, it should open to a page that will have your wallet address listed on it.

It should say: ‘This is your Bitcoin address’ with a long series of letters being it, looking something like this: œ1Gm4pN9FBtgtaftVJdVVyelBswaMztTZuiâ

You must remember all of this info, as if you lose it there is no way to get back in here. So save the PW and userID somewhere safe!

Next you will want to buy some bitcoins to put in your wallet. Now, there are many ways to buy or obtain bitcoins. There are many exchanges where people are offering to sell BTC. When they are selling the BTC ( bitcoins) they will sometimes charge a fee depending on how you pay for them. Most exchanges have some type of escrow system they use so you or the seller is not ripped off. On many exchanges you will find a seller of bitcoins and see what payment methods they accept. Most will take Paypal, some will take a bank deposit ( you will deposit $ in their bank acct), others will meet in person to exchange cash, and may other ways.

Here is a website with many different exchanges you can buy BTC on https://www.bestbitcoinexchange.io

I like to use Local bitcoins, but theres many on there that work well. https://localbitcoins.com/?ch=6udq

There is another service called ‘Wall of Coins’ that allows you to create an acct and deposit some cash into someones bank account and then have bitcoin transferred in to your bitcoin wallet. We have a blog post on this as well.

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Do I need to provide my real name for the shipping address?

No, you do not need to provide your real name, but I would highly suggest using it unless you have some reason you can’t. The reason for this is that if the package is not delivered at your home for some reason, and you have to go to the post office to claim it, they will most likely want some ID to get it. Please know that no one can open your package without a valid search warrant. Not even the postal inspector. Every year we see a lot of customers who don’t use their real name on the shipping info email me telling me their package was not delivered. We will investigate and 90% of the time the reason for non delivery is the recipients name does not match the name on the package. Its a common misconception that if you don’t put your name on the package then Law enforcement can’t prove you ordered it. This IS BS and it does not work like this. In the many years we have been doing this I have yet to have a package intercepted by Law enforcement. its safe to order from us and use your real name, so please do it.

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How will my order be packaged?

All orders will be discreetly & carefully packaged with no reference to the contents in the package. Your email address will also not be on or inside the package. Most orders are packaged in one box, but if you have a larger order chances are it will come in several small packages so please be aware of this if you have a large order and don’t see the full order come in one pack.