Fire & Ice is now accepting Bitcoin for all HVAC services that we offer.
We understand that this is a new form of currency to many, so we’ve compiled a list of common questions (with answers) below. If you have additional questions, please give us a call at (614) 618-6849.
What Is Bitcoin?
Bitcoin is a form of electronic (or crypto) currency. It is stored in an app or computer file. These apps are often called digital wallets.
Using Bitcoin apps or other forms of electronic transaction, you can buy, sell, send or receive Bitcoins in exchange for goods or services.
What Is the Blockchain?
You may have heard of the term blockchain associated with Bitcoin. The blockchain is a public ledger where transactions of Bitcoin are stored. This allows public access to transactions and allows the blockchain to be stored on thousands of servers. This is intended to provide security, since transactions cannot be forged or otherwise faked, and all transactions
Blockchain technology is not limited to currencies like Bitcoin. Due to its security and accessibility, it’s been utilized or tested in a number of industries to store records or transactions.
How Do I Obtain Bitcoin?
Online marketplaces exist that will allow you to buy, sell and store Bitcoin in a digital wallet. Transactions are similar to those placed in other online marketplaces, or even stock exchanges.
There are more complex ways of obtaining Bitcoin, such as verifying transactions in a process known as “mining,” but that’s far beyond what most consumers will want to explore.
What Is the Value of Bitcoin?
The value fluctuates, much like a stock. As of this article being published, the value of 1 Bitcoin is approximately $49,000. By the time you read this, that number will have undoubtedly changed.
Importantly, you don’t need to own a whole Bitcoin. Micro-transactions for fractions of Bitcoins can be made, so that you can own an amount that fits with your budget.
What HVAC Services Can I Use Bitcoin For?
With most HVAC contractors, nothing. With Fire & Ice, everything. Any installation, tune-up, repair or other service can be paid in full with Bitcoin.
How Does Payment Work?
You’ll be able to use your digital wallet app to transfer money to an appointed Fire & Ice sales representative.
Currently, we accept payments through the BitPay app. The app generates a QR code that facilitates transfer of payment. Other methods can be arranged, which involve a “hardware wallet” like a thumb drive. At that point, though, we’ll arrange for you to speak with a staff accountant to work out the details. Regardless, our staff will be happy to work with you to facilitate payment via Bitcoin.
How Do Refunds Work?
Due to how we process Bitcoin transactions and convert them into cash, we cannot issue refunds in Bitcoin. If you pay in Bitcoin, any refunds will be processed with cash. This is due to the fact that we convert Bitcoin payments to cash once the payment is processed. This is a financial protection against fluctuating Bitcoin values, which in turn protects our business and customers.
For example, if you install a new furnace for $5,500, pay in Bitcoin, but initially forget to apply a $200 manufacturer rebate, we’ll issue a $200 refund in cash, not Bitcoin. And if the value of Bitcoin has risen or fallen since the initial payment, you’ll still receive $200 regardless.
What About Other Cryptocurrencies?
Bitcoin isn’t the only cryptocurrency out there. However, at this time we’re not accepting any of them except Bitcoin. If that changes, we’ll update this page.
Fire & Ice Heating and Air Conditioning: Now Accepting Bitcoin
Cryptocurrencies are a significant part of our economy, and Bitcoin is at the forefront of this movement.
At Fire & Ice, we want to be forward-thinking in everything we do. This includes our training, services, the equipment we install, and now the way we can process payments.
For the majority of our customers, this won’t change anything and they’ll never need to think about Bitcoin. But for those with Bitcoin investments, this allows another way for us to facilitate services.
If you’re in Central Ohio and the Columbus, OH area and want to know more, please reach out! We’ll be happy to talk about all the ways we can improve the comfort and efficiency of your home through quality HVAC services.