Bitcoin – New Payment Options

February 26, 2014 8:30 pm Announcements, Canada, Toronto

Now Accepting Bitcoin

Colosseum Online Inc. is proud to announce that we are now accepting Bitcoin through our partnership with CaVirtex (Canadian Virtual Exchange). Similar to our already existing payment options Bitcoin will be available as a payment option on invoices for any of our products and services, from our online backup to our Cloud Virtual Services. Paying with Bitcoins will not cost you any more and the exchange rate is calculated at the time of purchase.

How to Pay

When you select the Bitcoin payment option on the checkout page, you will be redirected to our bitcoin payment processor where their billing system will generate an invoice for you, displaying the current Bitcoin (BTC) equivalent to the Canadian Dollar (CAD) amount. This rate is held for fifteen (15) minutes giving you enough time to send payment from your wallet.

On the payment processor’s generated invoice you will see the exact amount of bitcoins to send, and a unique single-use bitcoin address. You should have plenty of time to send the amount before the session expires. Please do not send the payment if the session has expired, as the bitcoins will be held by the bitcoin payment processor until Colosseum’s billing department contacts them. If you accidentally send a payment after the fifteen minutes has expired, please contact our billing department during normal business hours (416-739-7873 ext: 3 or

The payment processor’s invoice shows the Colosseum’s invoice number in the ‘Name” description field.

Initially the payment processor’s invoice will have a Status of ‘Not Paid’ (invoice is valid for 15 mins). The Status will show as ‘Paid’ when the payment has 1 payment confirmation in the next block (approximately 10 minutes after you send payment). The Status is changed to ‘Confirmed’ once 6 block confirmations are received (approximately 50 minutes after you send payment). When the payment processor’s invoice Status is changed to ‘Confirmed’, Coloseum’s invoice will also be marked ‘Paid’, and the product will be released to you.