Tag Archives: bitcoin

The Pros and Cons of Bitcoin: a Merchant’s View

William Coates is an entrepreneur and self-confessed ‘technician nerd’ with a background in software development. Presently based in Helsinki, he’s CEO of Digital Tunes– an online music shop which started accepting bitcoin early last year. Here, Coates tells of his encounters using the cryptocurrency and if you ought to take your company right down precisely the exact same route.

We start accepting bitcoin at digital-tunes. Net at the start of 2013, and thus far it’s been an overwhelmingly positive experience. Bitcoin is currently our third most significant payment provider by revenue, following credit cards and Paypal, and before ofClickAndBuy and Skrill (formerly MoneyBookers).

Within the previous six months, 2% of our sales came through bitcoin tumbler , and also on a good month that the digital money can account for up to 4 percent of our overall sales.

To be honest that is much, much more earnings than we believed we’d see with the cryptocurrency. At the start of 2013, and still to some extent now, the frequent understanding is that people just use bitcoins to purchase drugs online.

We have discovered that this is clearly far from the truth — there’s a growing and lively community of consumers from all across the world that wish to exchange their own bitcoins for all sort of things.

Throughout the previous year, we’ve discovered a few important pros and cons with accepting bitcoin payments and have now made them the cornerstone of the article. If your business is considering accepting bitcoin for your very first time, we hope you are able to learn from our experiences.

The good things

Zero fraud

Fraud is presently a huge headache when accepting payments online. Chargebacks not only result in loss of earnings, but also anincredible amount of additional administrative work.

This can be immensely frustrating for us: once we get chargebacks from non-European charge cards, we wind up footing the bill — our credit-card chip does not cover us.

The attractiveness of bitcoin is the fraud was left an impossibility: because of the character of this bitcoin protocol, alltransaction are permanent. When you get paid, you get paid off. This is not some short-term specific offer or sleight of hand, this is baked into the code in the heart of the digital money.

That is fantastic, since it means the obligation for combatting fraud isn’t shouldered by the retailer, but rather lies with the bitcoin pockets — that the ‘banks’, if you will, of digital monies.

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Bitcoin casino USA- advantages of using bitcoin in online casinos

Bitcoin is one of the famous digital currencies that every player is talking about, and it is also considered as the perfectly secure mode of online payment for the US player. It is used by every player and accepted by various licensed casino sites in USA. You can easily make use of bitcoin casino usa to more funds out and in on your favorite casino account anytime. It is mostly hard for the players the find the best and focused online casino site that does not accept bitcoin because it is considered as the reliable mode of making an online payment which is very easy to use. The various online casinos accept this method because of high use and compatibility.


Few amazing benefits of using bitcoin casino USA:
As, we all have already mentioned in the above contest that bitcoin is the most secure mode of making an online payment in the whole world and this is the most important reason for players to use this currency in online casinos of USA. The only thing that you have to make sure is you keep bitcoin correctly and keep your private keys with the unique password. You should share this currency or wallet password with your friends or anyone else. It is the best way of making an instant payment which you can deposit within few minutes of time only, whereas some currencies take hours to make payment and even days to make secure transactions.
On the other hand, it is also more important to know when you are using bitcoins casino USA you are charged with some amount, this is a fraction of the cost which is also applied to other withdrawal/ deposit options. You do not have to steep with any prepaid or credit card fees when you are making use of this reliable currency. This type of currency is optimized for online gambling. Thus it is used by every player using a tablet, smart phones, and laptop or computer.
So these were few of the most amazing benefits of using bitcoin casino USA.

Bitcoin, a decentralised currency available in market

Bitcoin are the first kind of Cryptocurrency which came into picture in year 2009. It was launched by person named Satoshi Nakamoto. However it is said that it was not his true identity. Bitcoins can be referred as internet/ digital cash, which we can be assessed through internet and moreover like other accounts on internet, a password is required to access Bitcoins.


There is no RBI for Bitcoin, this means that there is no centralized agency which controls Bitcoin. Bitcoin does not subject to any regulations. Moreover, transactions through Bitcoin does not involve any middlemen. Hence payment with Bitcoin are quite cheap as well as easy. It acts as an internet cash which may be used for shopping, making payment as well as investment purposes.
One can easily Buy bitcoin in India as well sell Bitcoin in India. There are number of exchanges available to trade Bitcoin. Hence one should look for the best Bitcoin rate and then do the trading. Once bought, Bitcoin like other currencies need to be stored, wallets in which they are sored is not any leather wallet. Bitcoin wallets are digital in nature hence are called digital wallet. This means bitcoins can be store only on internet.
Bitcoin transfers are very much secure as Bitcoin transactions are based on principle:
1 address=I transaction.
Bitcoin transactions are anonymous and does not involve any hidden or unwanted charges. Bitcoin advantages and disadvantages are as follow:
Advantages of Bitcoin
• Bitcoin provide freedom of payment to the client. There is no limit as far as Bitcoin are concerned.
• Transacting through Bitcoin have either no or very less fees attach to it.
• Bitcoin transactions are very much secure.
• Bitcoin provide transparent mode of transaction as the entire information is available online.
Disadvantages of Bitcoin
• Bitcoin are still not that popular among people, hence due to lack of awarenessthe acceptance of Bitcoin is very low in the business world.
• Bitcoin being a new concept still under developing mode.

How to Invest in Cryptocurrency

It is 2017 and the Cryptocurrency party is in full swing with both Bitcoin and Ethereum upwards 400 percent and 5000 percent at the same stage respectively. Banks took a massive U-turn and ceased shutting down the balances for so-called “questionable” Bitcoin dealers in favor of linking the Ethereum Enterprise Alliance. My mostly reclusive Asian tiger mother has heard of this. Yet amidst this bulging backdrop (or bubble based upon your point of view), there are amazingly few guide, finishing resources for the retail buyer to take part in this speculation smorgasbord.


Purchasing cryptocurrency can be quite perplexing as it differs considerably from the way you might approach stocks. Purchasing Bitcoin or ether isn’t like purchasing stocks; instead, you’re getting digital tokens which have particular functionalities, like decentralized, pseudo-anonymous money in Bitcoin’s instance or gasoline for decentralized apps and smart contracts for your ethereum platform. You anticipate increased adoption and technological inventions to interpret to need for your coins/tokens and consequently a return on your investment. Some rather enterprising investors will also exchange cryptocurrency pairs like BTC/ETH or even BTC/LTC (Litecoin).
In the following article, I’ll go over the right and safest way to participate in the Cryptocurrency marketplace in the easiest way possible. Even though there’s plenty of knowledge on the market, a few which is very specialized, the procedure itself is really pretty straightforward. As soon as it’s a bit more of a hassle compared to registering for a brokerage accounts, you may easily get setup in under a few days without important technical knowledge. Don’t allow anonymous jargon and vocabulary scare you away!

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What resumption of cryptocurrency trading in China means for investors

The news from China indicates that the Chinese government is considering the option of resuming cryptocurrency trading by the end of 2017. Although this is welcome news to many investors who have always seen China as a driving force behind the bitcoin price, there is a string attached. The cryptocurrency trading will only resume by licensing all bitcoin exchanges. In addition, the regulators will put measures to ensure that Know Your Customer and Anti-Money Laundering systems are put in place. The purpose of regulating the cryptocurrency trading exchanges in China is as a result of increased criminal avidities with cryptocurrencies according to the Chinese government.

Many bitcoin news agencies suggest that the Chinese government has emphasized it will take necessary measures to fully regulate this market through the implementation of a licensing program as well as strict anti-money laundering systems. Although resumption of bitcoin exchanges in China is welcome news, many experts have pointed out that it will be the beginning for regulating the cryptocurrency industry. Currently, nobody is regulating bitcoin or any cryptocurrency. This is a decentralized cryptocurrency, and such an aspect has always made its price more attractive to investors and its value increase over the years.

When the Chinese government banned cryptocurrency exchanges in September 2017, the bitcoin price fell down to $3,000. This effect also saw the whole cryptocurrency market endure major corrections. The advantage, however, is that cryptocurrencies are widely accepted. After the ban, the huge trading volumes experienced in China went to other markets like South Korea and Japan. This restructured the cryptocurrency exchange market, and bitcoin was being traded at around $4,100 in September. This clearly shows that the ban did not stop people from buying bitcoins due to the wide acceptance in other non-regulated countries. But if the ban is lifted, experts are projecting that bitcoin will be traded at around $6,000 by the end of 2017.