Tag Archives: Bitcoin Payment

Bitcoin is challenging the world’s leading payment systems

Bitcoin’s staggering rise is becoming a threat  to the worlds leading payment system providers.

ChartOfTheDay_1681_Daily_transaction_volume_of_payment_networks_n

The rise of Bitcoin. Data as of 4th quarter 2013. Click on the image for larger picture. Source The Statistics Portal.

Bitcoin surpassed Western Union in transaction volume in 2013, and is likely to overtake Paypal in 2014.

Geir Solem
Cryptor Trust Inc.

The Bitcoin Revolution – Future implications around the world

This is the eight video in our series called “Bitcoin as a Disruptor”.  What are the future implications of Bitcoin around the World? What should we think about Bitcoin with terms of Neutrality? Will Bitcoin become widely accepted around the World?

Presentation by Andreas Antonopoulos, The Bitcoin Foundation. Source Cryptorcurrencies

Andreas discusses the philosophy and the principle of Bitcoin Neutrality, as well as the main drivers towards mass adaption of the currency.

He also look at how banking actually works around the world, and how Bitcoin could evolve in the future to meet the needs of the unbanked.

Geir Solem
Cryptor Trust Inc.

Credit Cards – How Bitcoin Could Take Over a Trillion $ Market

This is the fifth video in our series called “Bitcoin as a Disruptor”.  We look at the advantages for merchants accepting bitcoins over credit cards.

Source World Bitcoin Network

We look at five features where bitcoin’s inherent features could take over 5 different trillion dollar markets. This video gives you a quick history on the evil aspects of credit cards, then looks at the SEISMIC changes offered by Bitcoin.

Geir Solem
Cryptor Trust Inc.

The End of Western Union? – Bitcoin’s Features are Game-Changers in the World of Remittances

This is the fourth video in our series called “Bitcoin as a Disruptor”.

Ever since people have tried to send money home, perhaps 10,000 years, there have been sharks in the water trying to gobble it up. The same is true today.

Source: World Bitcoin Network

Western Union, Money Gram and others make billions each year off the poor families sending money to even poorer countries. Bitcoin can change that better than any tool the world’s ever seen. With 500 billion sloshing around in the remittance markets, there’s a lot at stack. Further it seems likely the market would be even bigger, perhaps 1 trillion if there were no fees. This is a real game-changer.

Geir Solem
Cryptor Trust Inc.

Bitcoin, Bankers Worst Fear

This is the second video in our series called “Bitcoin as a Disruptor”. Bitcoin will change the society and the economic playing field. Who is at risk ?

Source: VisionVictory

Banks are at risk !

Banks charge a lot of money for a simple money transfer,  banks put more and more restrictions on their clients use of their own money, behaving like they are you parents, etc.

The question is can the banks continue with this kind of behavior in the future?

Geir Solem
Cryptor Trust Inc.

Buy Bitcoin in 3 Simple Ways

Cryptocurrency is a new thing for almost everybody. It is a revolutionary way of thinking money as well as using it. In this quick guide we review three options to buy bitcoin all over the world.

> 1st Option – Buy Bitcoin Face to Face from a Seller

bitcoin_payment
Illustration by Harry Campbell

Nowadays there are firm possibilities of finding other bitcoin enthusiasts in your city town that would like to make a face to face deal with you. This could be a great first experience since it allows you to research who the seller is before taking your chances, and spend some time exchanging ideas and personal experiences if you arrange the meeting.

For this purpose you can find people in many places. From eBay to Facebook and Linkedin groups, Twitter and local Meetups.

There are also companies in the bitcoin ecosystem that have seen this need and created a marketplace to connect bitcoin buyers and sellers. Two of them are LocalBitcoins and TradeBitcoin.

> 2nd Option – Buy Bitcoin Using Exchanges

Bitcoin exchanges have popped up everywhere. You can use global exchanges widely accepted in many regions, or choose a local dedicated bitcoin exchange at your country. Both options have positive and negative connotations, so you should try to make the most informed decision.

Take this three suggestions to help your decision:

A- Local exchanges are incorporated as local companies, meaning that while bitcoin might not be recognized by the local government, companies are still regulated under the jurisdiction. They pay taxes, adjust to the local legal frame and have responsibility towards customers.

B- Regional or global exchanges do not provide the advantage above, but might have enough social/user proof on their records to justify your choice. Have in mind that some of them have received large sums of money in VC funding to support their operations and take it to the next level, what doesn’t provide 100% assurance but is an element that others might not have.

C- Finally, always read the terms of use AND find where people is talking about this exchanges, whether they say good or bad things about them, testimonials are the best reference point to consider.

[Would you add other suggestions to this list? Please let me know in the comments section!]

> 3rd Option – Buy Bitcoin as an Exchange for Goods or Services

This is probably a zero risk way to build your bitcoin first capital. I’m sure you might be an specialist in something that somebody else could need and would accept as a payment for his bitcoin. In the same way, if you have goods not currently in use, you can exchange them for bitcoin. The benefits of bitcoin for small business owners are encouraging!

Maximiliano Garcia
Cryptor Trust Inc.