What Is Bitcoin?
Bitcoin is a digital currency that was created in January 2009. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto.1 The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and, unlike government-issued currencies, it is operated by a decentralized authority.
Bitcoin is a type of cryptocurrency. There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to. All bitcoin transactions are verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin is very popular and has triggered the launch of hundreds of other cryptocurrencies, collectively referred to as altcoins. Bitcoin is commonly abbreviated as “BTC.”
Pay Digital Ocean VPS with Bitcoin via Bitsumo.io
Why Pay Digital Ocean VPS with Bitcoin?
There are many advantages of using Bitcoin as payment method.
- Privacy: No need for a credit card if you can’t have one, or don’t want one. Applicable to certain locations only.
- Avoid annual Fees: Unlike credit cards, you don’t pay any annual subscription fee for bitcoin.
- Quick Processing: Payment processing is quicker through the Bitcoin network
- You don’t depend on third parties: Your bitcoin wallet cannot be frozen or closed by any third party.
- No Additional Fees: Say goodbye to interest fees, late payment charges, foreign transaction fees, etc.
- Anonymous VPS: All you must provide is an email address. Nothing more, nothing less. We believe that online privacy is a right.
To use Bitcoin, you don’t need to provide personal information such as your name and home address. Each transaction has its own unique alphanumeric identifying code and a private key. For those who like to maintain their privacy online, this is the biggest advantage! You can keep a low profile and thwart snooping governments
Also, hackers cannot steal your financial information from the merchants you make payments to. In the past, companies such as Sony failed to protect the financial data of their customers. The 2011 Sony Playstation Network data breach exposed personal information of tens of millions of users to the hackers.
I advise you to try and keep personal information on the internet to a minimum. If you are looking to a reliable and optimized web hosting service, you can buy web hosting with Bitcoins without any fear of identity theft or financial loss.