Chinese e-commerce site DinoDirect is providing another payment option for its customers – bitcoin.

Bitcoin is designed around the idea of using cryptography to control creation and transfer of money, rather than relying on central authorities.

Considered an electronic cash system, bitcoin is already accepted by merchants as well as individuals in many parts of the world including the US, the UK, Canada, Australia, Finland and many others.

A spokesman of DinoDirect explained that each bitcoin is further subdivided and it goes down to eight decimal places. This way it is able to form up to 100 million smaller units that are called satoshis.

Customers can make use of computer or even smartphone to transfer bitcoins. This means that there is no need of any intermediary financial institution.