The cryptocurrency Bitcoin has been part of the news and current coverage since its launch in 2009. Meanwhile, the price of Bitcoin can be found on news channels and trading platforms like bitcoin360ai.com/de/ in addition to the current share prices, the gold and oil prices. And the Swiss group of AXA insurance accepts Bitcoin as a means of payment.

 

More and more service providers and especially online shops accept Bitcoin as a legitimate means of payment. Since the beginning of April, this has also included AXA Insurance Switzerland. Here, private customers are now free to choose whether they want to pay their bills via Bitcoin. Only bills from life insurance companies cannot be paid with the new payment method.

 

This was preceded at the end of 2019 by a market research survey by AXA Insurance on the subject of Bitcoin and cryptocurrencies. Here, a third of respondents stated that they own or would be interested in cryptocurrencies. In the course of the corona crisis, the prices of Bitcoin rose, with which the topic picked up speed again.

 

AXA Insurance sees itself equipped for the future with the new payment option and wants to meet the increasing demand for different payment methods.

 

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How does bitcoin payment work?

 

AXA insurance works in Switzerland with the payment service provider inapay and the broker Bitcoin-Suisse.

 

The customer can start a payment process at inapay using the reference number and the amount of the e-mail invoice. There, the customer then receives an overview of the number of Bitcoins he will pay and at what exchange rate (Bitcoin to Swiss francs) they are currently traded. Because contrary to what you might expect, Bitcoins do not end up in a Bitcoin wallet of AXA insurance. The broker converts the Bitcoins directly into Swiss francs and transfers the money to the insurance company.

 

The exchange rate is fixed for a certain period of time so that in the event of changes in the price of Bitcoin, the customer himself does not bear the exchange rate risk. At the same time, AXA insurance itself does not charge any fees for the transaction. There are only 1.75 percent fees at the broker Bitcoin-Suisse, which are already included in the exchange rate.

 

The customer himself does not need a separate registration, only his own Bitcoin wallet and the e-mail invoice must be available.

 

Further prospects for the future

 

AXA Insurance Switzerland would like to continue to expand its payment offering in the future. The Swiss payment system TWINT will soon also be activated. Other cryptocurrencies such as Ethereum are not yet followed. First of all, AXA insurance would like to gain experience with the payment option Bitcoin.