Monday, 17 February 2014

Buying and Selling Bitcoin made Easy!

Bitcoin industry, these days lies in the news everywhere as it exists online. It can be easily generated, traded and utilized to buy things over any online transaction, which cannot be traded publicly. Its protocol is not just about the exchange of money between two people. It has various features, which opens many further possibilities. We have researched and compiled some currently working technologies and some to come up in the near future, which shall make trading simpler. Let us review it together:

Securing yourself against fraud

Many companies like Coinbase, MtGox, VirWoX have separate special networks which offer users with specific control and protection against most obvious frauds like that of unwanted charges. Users have the chance to backup and encrypt their wallets, this would make it just difficult for anyone to steal money or do any fraud.

Worldwide Reach

All transfers made across the globe can fully be interpreted. Today, international BTC companies like Coinbase, MtGox,VirWoX  allow business or individual to safely buy and sell Bitcoin anytime, anywhere without having a specific Bank account. It has traded worldwide which in turn helps in increasing global reach to commerce and helps to flourish international trade.
It is Cost efficient
With the optimum use of cryptography, safe transactions are possible today. These are cheaper and have processed quickly, as they have various payment modes, which make trading hassle free.

Donations, Tips, Social causes

This does not only involve two people but also serves businesses and countries worldwide. It has been an efficient solution for tips and donations recently. With a single click, you can send payments and receive donations with ease. These donations are visible for the public, which ultimately gives a transparent view for all the nonprofit organizations. It also aids in emergencies like Natural Disaster and other funding.

Crowd funding

A difficult task though, but crowd funding campaigns are one of the means for Bitcoinbe taken from them only, if sufficient amount of pledges are received to fulfill the target. Thus, it helps in preventing a wrong deal to take place; if not all the conditions are fulfilled this would even be cancelled.

Micro Transactions

One can make micro payments through smaller amounts easily; there are no restrictions on the amount of payments you do.

Conflict resolution through multiple signatures

These help to accept or reject transfers in case of disagreements between parties, only one of the groups of people who are registered having the signature account, agree together for the same. This will also help banks to secure payments in case of any fraud or duplication.

Creating transparency with Flexibility

It has known that these transactions are open to public, but the identity of the buyer and seller behind the trade is secured. This helps everyone to work with transparency and flexibility at the same time. However, this is under the complete discretion of the individual or business, whether they want to make it private or reveal its information like donations received etc.
The Bitcoin market is rapidly growing; however, it has not accepted in many countries though. So be in touch as, you may never know, but BTC transaction may happen the next moment.

See here how you can buy or sell bitcoins using VirWoX.

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