Nowadays, many companies allow payments in bitcoins. This cryptocurrency, which is the virtual currency designed to function as a medium of exchange, is decentralized and be aware that there’s no guarantee behind it. The owner of the currency doesn’t exist nor there’s a person in control of this system that, regardless of these red flags, operates in full compliance with transparent principles. However, you’ll stay anonymous if you pay in bitcoins, and that’s highly important as well.
An Intro to Bitcoin
Bitcoin And Other Technology That Will Change The World
Actually, the birth of Bitcoin itself was shrouded in secrecy and occurred in a scientific paper published by the person with the alias Satoshi Nakamoto in 2008 and became operational a year later. Users have the ability to transfer bitcoins through the cryptographic peer-to-peer network and can do everything they commonly can with traditional currencies, which includes buying and selling as well as transferring them. In special currency exchange offices and on certain ATMs, there’s an option to buy and sell bitcoins for other currencies.
The basic purpose of cryptocurrencies like Bitcoin is to be quick, simple, safe, and unique Internet currency for the whole world. Bitcoin is created using a very complex algorithm, for whose encryption a public key is needed, and is generated online by so-called miners who are trying to solve the cryptographic algorithm on the principle of an attempt and error. In the beginning, Bitcoin trading was marked by numerous mistakes that led to the creation of too many of this cryptocurrency. Due to technical issues, it even faced the split of the network into two independent parts who worked simultaneously and each recorded its share of transactions.
However, somewhere around 2013, few large companies such as WordPress, Atomic Mall, Overstock, Baidu, etc. started accepting bitcoins as a payment method and it proved very effective for them. The value of Bitcoin has been increasing by each year especially in November 2013 when the Bitcoin stock exchange under the name BTC China was established and overtook the Japanese and European stock exchanges, breaking out in first place in terms of the trading volume. Its value increased further during the same year when the U.S. Senate said Bitcoin was a legitimate financial service. Apart from mining, there are online markets created especially for buying and selling bitcoins and the value of every cryptocurrency is determined by supply and demand. These days one Bitcoin values approximately 6,660 Euros or 7,400 US Dollars.
Reasons to Pay Web Hosting in Bitcoin
More Than A Web Host: What Can The Cloud Do For You?
If you have a Bitcoin-related website it’s logical that you’ll seek a hosting specifically built for this. It isn’t a must because your website that involves bitcoins can be set up on a hosting provider that’s not based on Bitcoin paying services. Web hosting services that can be paid in bitcoins exist and their number is increasing although it isn’t high at the moment.
If you have a need for privacy and anonymity when paying for a hosting service, the combination of using Bitcoin in transactions and choosing DMCA ignored hosting, whose resources and performance are enlisted here, perfectly fits into these requirements. First of all, by its purpose, DMCA ignored hosting is the option when you want to protect your website and privacy from international agreements and overstated laws, copyright infringements and copyright notices. You can’t be absolutely sure if digital or any other kind of content will trigger some individual or organization to report you because they consider your website violates laws and regulations known as DMCA (Digital Millennium Copyright Act). In order to strengthen the protection and security of their users, these web hosting services introduced an alternative payment method, which is to get paid in Bitcoin but also in many other cryptocurrencies such as Ethereum, Litecoin, etc.
Advantages and Disadvantages of Paying in Bitcoins
Top 6 Companies that Accept Bitcoin In 2019
Although there are still many risks for the use of a Bitcoin, it has both advantages and disadvantages as a method of financial transactions.
Advantages
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Efficiency and Simplicity of Payments
– When you’re a user, paying in bitcoins is very practical because no credit cards and no accounts such as PayPal or Payoneer are necessary to be created. Also, integrating Bitcoin payments is, unlike conventional understanding, quite easy.
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Utmost Privacy
– Common hosting companies will ask you to provide them with a lot of personal information to set up an account. On the other hand, those that allow Bitcoin payments won’t ask you for most of these details. Note that you won’t remain entirely anonymous but will enjoy a huge level of anonymity.
Disadvantages
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Complexity
– If you don’t understand how the Bitcoin concept works, you might send payments to the wrong place, either by your ignorance or by the fact that you sent them to the untrusted provider. And, in that case, you can say farewell to that Bitcoin because transactions that include cryptocurrencies are non-refundable, there’s no regulator such as banks in the “real” world.
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No Receipt
– We all know that each money transaction, including the one provided for hosting, is covered with a receipt. But, when using Bitcoin for payments, it’s almost impossible to get a receipt or some proof. Furthermore, there are numerous software programs designed to eliminate any record of Bitcoin transactions. As if this isn’t enough, you might find yourself in a situation that you pay more than you’d pay by using money, that is, common transaction.
Bitcoin-Based Hosting Plans
The 5 Best Bitcoin Friendly Web Hosting Packages
Web hosting companies that allow Bitcoin as a method of purchasing their services offer multiple hosting plan options included in generally known types of hosting services.
Shared Hosting – It’s a Bitcoin hosting option that costs the least compared to other services and usually offers cPanel, up to 100 GB of storage, 20 GB or more bandwidth, free domains, dedicated IP address, and 24/7 tech support.
VPS Hosting – It’s considered a mid-range option when it comes to costs and service quality. In addition to shared hosting, this one includes SSD storage, fast setup and various geographical locations of a server from Europe to locations offshore.
Dedicated Hosting – It’s intended for websites who require more resources and have heavy traffic. It can be set up very quickly, that is, within 24 hours or less, while it offers substantial flexibility in configuration and 1 GBps uplink, which is the speed with whom the server is connected to the Internet.
DDoS Protection Hosting – It’s considered the most expensive option and it comes with VPS and a dedicated hosting plan. It increases already existing DDoS protection, that’s limited for dedicated and VPS hosting, to protect your high-level traffic from more vicious attacks.
As you can see, within all these web hosting plans that enabled Bitcoin payments there are configurable options that enable customized offerings based on a variety of needs and budgets as well as technical skill levels. So, if you want to ensure that you’re anonymous while purchasing a hosting solution for your website, you should definitely choose a hosting that accepts Bitcoin as a method of payment.