Did you know Bitcoin is a $1 Billion dollar currency on line? You could even get funded or paying customers by accepting Bitcoin.
Bitcoins is a virtual currency. It’s an open source, peer to peer digital currency. Processing few are small to nothing, to the contrast to the fees a business must pay when processing a credit card or accepting PayPal payments. Chargebacks don’t exist because by design they can’t. Bitcoins, are as taxable as any other currency. So far businesses working with Bitcoins are happy. Nonetheless, this is really and it’s a growing phenomenon. Most businesses are only accepting between 1 – 5% in Bitcoins compared to cash.
How does a Bitcoin work?
As a user you select a wallet to keep your bitcoins in, it will likely be on your computer or your mobile phone. To be a part of this network, you keep your coins secure. By going to you can learn more about wallets.
What is Bitcoin?This video will explain what a Bitcoin is.
How to use Bitcoins. Watch this video, it’s much easier to understand how you can use them.
Other information to read about Bitcoin:
Bit By Bit
Though once a rarely understood and even more rarely used form of currency, the use of bitcoins exploded this year: Since bitcoins were first issued in 2009, the value of all coins in circulation has increased eightfold to $1.1 billion. Let’s explore what they’re worth and how they’re being used.
How Many Are Out There?
Total bitcoins in circulation
50 in January 2009
11.3 million in June 2013
How Much Are They Worth?
Exchange rate for one bitcoin:
- U.S. dollar 111.91
- Euro 86.80
- Australian dollar 117.23
- British pound 73.25
- Yen 11405.26
- Polish zloty 367
- Canadian dollar 116
- Swiss Franc 115.2
- Russian ruble 3910
- Swedish krona 789.65
Sounds pretty interesting to me..maybe perhaps it’s time to accept Bitcoins.
What’s your take? Leave your comments below.
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