We have come a long way from the days of online payment for sure. Until about 10 years ago, many of us were Digital Marketing Agencies in Newcastle  and afraid to put our trust into online vendor. Fast forward to 2018 and the buyer claimed to make 80% of their purchases online, not including groceries.

With the huge increase in online shopping comes more alternatives to conventional payment. In 2009, Satoshi  – it is anonymous – find  first decentralization, . Prior to this, there have been various attempts failed to create virtual currency, without restriction.

Is it time for e-commerce companies to get on board? Keep reading as we discuss how  work and whether they should top the agenda of e-commerce.

What  a?

The world of online currency is complex and difficult to understand for many people. Basically,  unlimited entries into a database that can not be changed without meeting certain conditions. In this case, they work the same way as a physical currency.

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Money in your purse or wallet is now just a physical entry into the database, which can not be changed unless you meet certain conditions. You have to physically have the coins and notes to have them in your possession and you only lose money if you pass ownership to someone else in exchange for items.

 work the same way. They sit in your account until you want to exchange them for something else, in this case you pass ownership. It’s just hard to visualize and understand because, rather than physical money that you can see and feel,  is a set of digital code.

How does payment work?

To understand the use of  first we have to see how the transaction is processed.  consists of a network of colleagues – people who have completed the computer puzzle to prove their skills. Each of fellow individuals have access to a complete history of every transaction made and the balance of each account.

Each transaction is stored as a file with the identity of the two people involved signed by the sender currency. Once the transaction has been signed, it broadcast in the network, sent by one of the associates of the rest.

Advantages of using

With more and more companies and individuals using  as a payment alternative, it is natural that people want to know about the benefits. Is using  better than traditional payment options?

Perhaps the greatest benefit of  is global reach. Unlike traditional currency, virtual currency is not tied to a particular country or region in the world. One  is still one  if you spend it in English or Chinese.

This process is much faster than a normal online payment as well. Completion of the transaction is only dependent on the sending of money signing off on payments, so the transaction is completed immediately, without delay of the location. Whether you’re sending a payment to your next door Neighbor or the other side of the world, the transaction will take the same amount of time.

Another bonus of using  is the security that comes with having a virtual money. Funds are locked in a public key system. But only the owner of the private key can access and send Digital Marketing Company in Newcastle money. You may have more chance of breaking into Alcatraz than you do access  others.


While clearly there are some benefits to using a new form of payment, there are also some disadvantages.