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PAY WITH BITPAY AT RM SOTHEBY’S

 

RM Sotheby’s has partnered with BitPay, the world’s largest provider of bitcoin and cryptocurrency payment services, to collect cryptocurrency payments via email invoice. If you are interested in paying with crypto, please contact clientservices@rmsothebys.com so we can initiate an email invoice and begin the payment process. 

WHO IS BITPAY?

BitPay is the world’s largest provider of bitcoin and cryptocurrency payment services. Founded in 2011, while Bitcoin was still in its early stages, they set out to revolutionize the financial industry - making payments faster, more secure, and less expensive globally. BitPay pioneered blockchain payment technology to transform how businesses and people send, receive and store money worldwide. A decade later, BitPay is still creating more tools and services for everyone to use in innovative ways.

WHAT IS BITCOIN?

Bitcoin is a secure, digital currency that can be used to exchange money over the Internet. There are no central banks or authorities. Bitcoin is truly open - compatible across platforms, technologies, and even borders. It's great for fraud protection too! With no credit card numbers for someone to steal, it's safe and secure.

WHAT ARE CRYPTOCURRENCIES?

cryptocurrency is a digital or virtual currency that is secured by cryptography. Many cryptocurrencies are decentralized networks based on blockchain technology — a distributed ledger enforced by a disparate network of computers. The word cryptocurrency is derived from the encryption techniques which are used to secure the network. Examples of cryptocurrencies include Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin.

WHAT CRYPTOCURRENCIES CAN I USE?

BitPay supports leading coins including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), and 5 USD-pegged stable coins (BUSD, DAI, GUSD, USDP, and USDC).

WHAT CRYPTO WALLETS CAN I USE?

BitPay supports more than 90 different crypto wallets and exchanges including BitPay, Coinbase, Exodus Wallet, Ledger Wallet, Trust Wallet, Electrum Wallet, Blockchain Wallet, Metamask, Crypto.com, Gemini Wallet, Kraken, BRD Wallet, and more.

HOW DO I PAY USING BITPAY?

Prior to an RM Sotheby’s auction, the intended buyer must have a pre-approved BitPay ID

  • To get a BitPay ID you can visit https://bitpay.com/signup
    • RM Sotheby’s and BitPay reserve the right to deny any BitPay ID application
  • If you are the winning bidder BitPay will then send you an email invoice to which you will complete your payment using your BitPay ID and following BitPay’s payment procedure. In general, the steps are:
  1. Sign in to your BitPay account that correlates with your BitPay ID.
  2. Select the 'View Bill' button within your email invoice.
  3. Review and verify the invoice details, select the 'Pay with BitPay' button to proceed.
  4. Select the wallet and cryptocurrency you want to pay with.
  5. Scan the QR code or copy and paste the payment details into your wallet.
  6. Confirm the payment request in your wallet.
  7. Congratulations! Your payment has been successfully processed.

Further instructions can be found here: https://support.bitpay.com/hc/en-us/articles/115005559826-How-do-I-pay-a-BitPay-invoice-

 

DISCLAIMER:  In Step 5, the exchange rate is locked for 15 minutes.  RM Sotheby’s and BitPay are not responsible for any exchange rate changes when payment does not occur within the 15-minute period.

WHY IS THERE 1% ADDED ON TOP OF MY TOTAL BID PLUS BUYER’S PREMIUM AND ANY APPLICABLE VAT?

In order to process cryptocurrency, there is a vendor fee of 1% that is applicable to the total invoice amount.  The total invoice amount includes the hammer price of your bid, plus Buyer’s Premium plus any applicable VAT.  The embedded BitPay invoice includes the 1% added vendor fee.

WHERE CAN I FIND THE EXCHANGE RATES OF THE CRYPTOCURRENCIES?

You can see current exchange rates for all supported coins by visiting https://bitpay.com/exchange-rates/.