bitcoin - your digital currency
DESCRIPTION
Bitcoin, a new kind of money, is first decentralized digital currency that is increasingly adopted by individuals and businesses to make their payments in an easy and secure manner. This slide deck by Ace Cloud Hosting explorers the basics of Bitcoin and how both businesses and individual can use it for making payments.TRANSCRIPT
Bitcoin Your Digital Currency
What is Bitcoin?
“Bitcoin is an open source software-based online payment
system. Payments are recorded in a
public ledger using bitcoin which is its
own unit.”
“Bitcoin – a new kind of money, is first decentralized digital currency and an
innovative payment network”
How To Use Bitcoin? Bitcoins For Individuals
#1. Know Bitcoin
Bitcoin is quite different than what you
use. Here are a few basic things you
need to know, before you start using
Bitcoin -
#1. Bitcoin price is volatile The price of bitcoin can unpredictably decrease
or increase over a short span of time.
#2. Bitcoin is not anonymous Additional efforts are required to protect your
privacy with Bitcoin.
#3. Security and Bitcoin Bitcoin transfers the value anywhere. However,
there could be some security concerns.
#4. Bitcoin payments are irreversible Bitcoin transactions once done can’t be
reversed, however the value can be refunded.
#5. Bitcoin is still experimental Bitcoin is a new currency that is in its
development phase.
#2. Choose Your Wallet
Bitcoins are stored in a wallet, which can be
used to buy, sell, or send bitcoins such as
BLOCKCHAIN. Here are some popular
wallets, so select and start making payments.
#3. Buy Bitcoins
You can buy bitcoins either by accepting
them as a payment for products and services
or by purchasing them from your friend or
authority. The popular ones are -
#4. Spend Bitcoins
It’s time to spend bitcoins! There are
lots of merchants accepting Bitcoin all over
the world, popular ones are-
How Do I Accept Bitcoin? Bitcoins For Businesses
#1. Know Bitcoin
There are a few things that every
merchant need to know in order to use
bitcoins without changing their habits.
For instance Bitcoin payments are
irreversible.
#2. Payment Processing
You can process invoices and payments
yourself or through a merchant service.
Mostly, business uses these trusted merchant
services -
#3. Accounting And Taxes
Depending on the location, bitcoins are
subject to tax. To get appropriate guidance,
you should take the advice of an
experienced accountant or tax consultant.
#4. Gaining Visibility
There is a rapid growth in bitcoin users, going to
purchase products with their bitcoins. To gain
visibility, submit your business in online and local directories such as useBitcoinsinfo. You
can also display the Bitcoin logo on your
website.
Benefits for Individuals
Work everywhere, anytime ...
Control and security over your money...
Zero or low fees…
Mobile payments made easy…
Protect your identity…
Benefits for Businesses
Accounting transparency...
No PCI compliance required...
Protection against fraud…
Multi-signature…
Fast international payments…
Legal Status and Regulation
Few countries have regulated bitcoin and some
have not.
Cyprus China Bolivia
Canada US Russia
Innovation in Bitcoin…
Bitcoin has opened many possibilities and
features that are under experiment and are
researched by the community. These
include- security, crowd funding, micro
payments, dispute mediation, trust and
global reach.
About Ace Cloud Hosting
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Bookkeepers and ranks
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