now accepts cryptocurrency as a form of payment in exchange for its web hosting services.
Why cryptocurrencies?
decided to accept most cryptocurrencies in exchange for the world’s cheapest web hosting solutions in December 2017. This decision aligns with ‘s company vision of empowering millions of people around the world with the power of the internet. , by providing them with the tools to learn, create and grow online.
According to Product Manager Giedrius Zakaitis, made the decision based on economic factors.
He stressed that does not want to exclude web developers who are still very young or who cannot access a FIAT currency bank account or credit card from purchasing web hosting services.
“There are millions of young web developers and people with great ideas around the world, but they don’t have bank accounts due to age or other restrictions,” Giedrius explained.
“The last thing we want is for a talent with a great idea for the internet to give up, just because they don’t have the opportunity to pay for the tools that would help make it possible.” –
“ has been constantly looking for solutions to solve this problem and we are happy to have found a way to do it, joining the cryptocurrency revolution and accepting most cryptocurrencies as a form of payment.”
Cryptocurrencies vs. Credit cards
also believes that by paying with cryptocurrency, customers’ finances are at less risk of fraud than if they paid with a standard credit card.
Credit card security has improved in recent years. However, extracting personal and financial information from a credit card is still easier than extracting personal data from a transaction made with a cryptocurrency on the decentralized blockchain server.
“Credit cards are flawed by design, because the token itself is the secret key,” says Greek-British Bitcoin advocate Andreas Antonopoulis when explaining the security benefits of cryptocurrencies. “If you transmit this token, you put your entire account at risk.”
“Bitcoin is fundamentally different. What you are transmitting is not a key but simply a signed message, it is an authorization. And that authorization has two external references: one, to the origin of the money referring to an unspent output in the blockchain; and another, where do I want to send the money?
“By creating a new enclave, you create a new limitation on who can spend the money, typically a public key or Bitcoin address. And that transaction does not contain sensitive data.”
Furthermore, the acceptance of cryptocurrencies aligns with ‘s idea of making web services available to everyone, regardless of their financial circumstances.
Cryptocurrencies and blockchain
Cryptocurrencies work on the blockchain, which is a decentralized network of servers. Therefore, an “intermediary” is no longer necessary when making a transaction from Point A to Point B.
Therefore, unlike the process that occurs when making a payment with a FIAT currency, costly transaction fees are eliminated, since the intermediary (in this case, the bank responsible for the transaction) is no longer necessary.
Have you paid for services with cryptocurrencies? How was the experience and what comments do you have for us? ¡Let us know!
Carlos is a professional in digital marketing, eCommerce and website builders. He loves helping businesses grow online through his tips. In his free time, he is surely singing or practicing martial arts.
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