Bitcoins or a Credit Card?

Do you shop online?  Have you seen websites that allow you to pay with bitcoins?

Beware of the Bitcoin (virtual currency) risks!!

  • Values go up and down based on demand.
  • Payments made with virtual currencies aren’t reversible.
  • You do not have the same legal protections as more traditional payment methods.

For more information, click here.

Teaching Suggestions

  • Ask students if they have purchased products or services with bitcoins and what has been their experience.
  • Ask students if they check out the seller’s reputation before a purchase with bitcoins.

Discussion Questions

  1. Should the payment with bitcoins go directly to the seller or a payment processor?
  2. Does a payment through a payment processor offer any protections?
  3. If you receive damaged merchandise, will you get a refund in virtual currency, U.S. dollars, or store credit?
  4. If you have a problem with bitcoin-related product or service, where should you file a complaint?
Categories: Chapter 4, Chapter 5, Wise Shopping | Tags: , , | Leave a comment

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