Beijing Sci-Tech Report (BSTR) Readers To Pay Using BTC

Beijing Sci-Tech Report (BSTR) Readers To Pay Using BTC

October 1, 2018 0 By Austin Patel

Beijing Sci-Tech Report (BSTR),┬áthe oldest tech media publication in China has announced that it will be accepting payments using Bitcoin core (BTC). By accepting Cryptocurrency payment, the publication, also called ‘Technology life’ will be promoting the use of blockchain technology and the virtual currencies. The readers, the company, and the Cryptocurrency industry are expected to benefit from this move. This is not the first publication to accept the new payment method.

Beijing Sci-Tech Report (BSTR) To Accept Cryptocurrency Payment

On Sunday, Beijing Sci-Tech Report (BSTR) announced that it will be accepting Bitcoin core (BTC) payment for those wishing to get the magazine’s 2019 publication. BSTR is among China’s oldest science and technology publications. The new payment method will make it easy for people to subscribe to the magazine easily regardless of their geographic location as long as the virtual currencies are legal in that area.

Next year’s subscription will cost 0.01 BTC, which is equivalent to around 450 yuan, or $65 USD. The company has also considered the price change of the virtual currency. According to the firm, those who pay using BTC will get a refund if its value appreciates by 2020. This will act as an incentive to encourage the readers to subscribe using the new payment option.

BSTR’s Desire To Support Cryptocurrencies

As a science and technology publication, BSTR has a team of ‘Technology Life’ writers who keep the readers up to date with the latest information in the sector. Moreover, the magazine publishes content from various authoritative American science journals. Most of the magazine’s subscribers are scientists and scholars from around the world.

As a technology publication, BSTR has had an opportunity to publish articles about Cryptocurrencies and blockchain technology. The publication has published numerous content-rich articles about the technology hence it is not a surprise for them to introduce a new payment option. The new move demonstrates the company’s desire to promote the application of the technology in real life.

Crypto-Payment To Provide Various Benefits

The integration of Crypto-payment by BSTR is expected to bring various benefits to the company, its customers, and the entire Crypto sector. The new payment will enable the firm to reach new readers. This is because Cryptocurrencies are more popular among young people hence the move will attract them to the site. This will then lead to an increase in income.

Crypto-payment will also make it possible for readers to subscribe easily to the publication. Besides, the transactions costs are marginal hence reducing the total cost of the subscription. More people from around the world will be able to subscribe, as Cryptocurrencies are accepted in various countries. The move will also encourage more companies to embrace Cryptocurrencies, which will be beneficial to the entire Crypto sector.

In the past, various publications have introduced Cryptocurrency payment to attract new readers. Time Incorporated was among the first publications to accept payment in virtual currencies in 2014. The company had allowed their readers to subscribe for This Old House, Travel and Leisure, Good Health, and Fortune using BTC. Sun-Times, a Chicago-based publication also introduced the payment method in the same year. Nevertheless, both companies have already suspended these payment options.