Many reading this article might be wondering what Bitcoin are – but most people already know about it. Bitcoin is a digital currency or cryptocurrency that is “decentralized” meaning there is no single administrator such as a predominant bank. Bitcoins can be sent from user to user using the peer-to-peer network for Bitcoins without any need of any go-betweens.
New form of currency
This new currency for the internet age was developed in 2009 by some unknown person going by the alias of Satoshi Nakamoto. There are absolutely no middlemen involved in transactions – which mean no banks! But most of the hype about bitcoins is about getting rich trading them. In 2017, the price of bitcoins skyrocketed into the thousands.
Business accepting Bitcoins
Several large online retailers such as Amazon and eBay, have begun accepting bitcoins as payments for items. Other major companies also accepting bitcoin payments include:
- Victoria Secret;
- Home Depot;
These are only a few. As well many hosting companies say that they are the best bitcoin hosting meaning that they will accept Bitcoins for payment of monthly fees. If you like to trade in Bitcoins look for a hosting company that will accept Bitcoins as payment for web hosting, VPS hosting, dedicated servers, reseller hosting and domain registration. If it is not on their website, you can ask when you contact them.
Bitcoins for services work with a digital ledger recording all trades along with balances of accounts. Bitcoins are traded using what is known to as the Bitcoin Protocol on the principles of cryptography. This protocol identifies the process that is followed by a Bitcoin transaction from creation, to validation and final confirmation.
If you are a hosting company not currently using Bitcoins, you might look into this more and start accepting them for website hosting.