Crypto Payments & Refunds

Cryptocurrency payments are different. Use the following tips to understand how they work and ensure your payments complete successfully.

Crypto Payments

• To make a crypto payment with Bead, you must own one of our supported cryptocurrencies.

• For in-person payments, your device and crypto wallet app must have the ability to scan a QR code.

• For online payments, click or tap the QR code to copy the payment deposit address.

• Have your crypto wallet ready to scan a QR code and send payment as quickly as possible.

• Cryptocurrency transactions cannot be reversed once they have received confirmations.

• Transactions sent to an address other than the one provided by Bead can not be recovered.

• Funds sent to Bead-provided addresses on unsupported networks or in unsupported cryptocurrencies may not be recoverable.

• Creating your crypto transaction with a higher network fee may decrease transaction time.

• Creating your crypto transaction with a lower network fee may increase transaction time and increase the likelihood of an expired payment.

• Transaction confirmation time depends on factors related to crypto networks, not Bead.

• Transactions that never confirm should reappear in your wallet within 72 hours.

• Sending crypto other than the requested amount will result in an overpaid or underpaid payment.

• If you send an underpaid amount, sending another transaction will not complete the payment; the underpaid amount will be refunded and a new payment must be created.

• Paying from a custodial or exchange wallet may result in an underpaid or expired payments.

• A payment is deemed Invalid (and will generally be refunded) if:

  • multiple and/or unsupported crypto deposits are detected.

  • your wallet is flagged for compliance reasons.

  • the payee would receive less than the full payment amount.

  • any other event occurs that prevents successful processing of the payment.

• Payment amounts less than the network fee required to create a refund transaction cannot be refunded. See Crypto Refund Tips for more details.

• For large payments, personal identification and wallet address verification may be required.

Crypto Refunds

• If your payment is unsuccessful, you can reclaim your unconverted crypto.

• You will receive a message with instructions and a link to claim your refund.

• If you do not receive message to claim your refund, contact the merchant to have it reissued.

• Cancelled, Expired, Underpaid and Invalid payments, as well as Overpaid amounts, are returned in their original cryptocurrency.

  • Underpayment example: if the amount due was 0.002 BTC and you sent 0.001 BTC, the refundable amount is 0.001 BTC.

  • Overpayment example: if the amount due was 0.002 BTC and you sent 0.003 BTC, the transaction is considered complete with a refundable amount of 0.001 BTC.

• Network fees required to create the refund transaction will be deducted from refunds.

  • Note: Network fees are paid directly to network miners/operators to create the refund transaction, not to Bead.

• Crypto amounts less than the network fee required to create a transaction on the network can not be refunded.

• Personal identity and crypto wallet address verification may be required prior to claiming a refund.

• Bead does not support the ability for merchants to create refunds following successful crypto payments (e.g. when returning an item).