No payment system is safe from hackers these days, as all of these services are high-profile targets for people with less than honourable intentions. However, though there is a positive side to hacking, as well – in terms of finding and patching vulnerabilities – but the recent LoopPay breach is particularly worrying for anyone who has ever used Samsung Pay.
One of the things people criticise Bitcoin for is how they have a difficult time understanding the underlying technology and how the digital currency ecosystem works. But these same people fail to realise they have been using different types of technology for years, all the while not even fully understanding how it works. Twitter is a prime example of doing so.
Make sure to read: ABN Amro’s Arjan van Os: “Bitcoin is Ancient History To Us”
One of the heavy topics of debate, which has been going on for years now, is whether or not Bitcoin is ready for mainstream consumption. Despite the increase in venture capitalist funds in both 2014 and 2015, the overall performance of this disruptive virtual currency has been rather lackluster. Or that is what the everyday consumer seems to think, even though that vision is not shared by everyone.
When people are talking about Bitcoin, the country of Georgia does not immediately come to mind. Which is rather strange, as Georgia is working hard to become a favourable location for Bitcoin companies, as well as other international technology players. BitFury Group recently installed a brand new data center in the country, which has been attracting quite a bit of interest from all over the world.
Bitcoin is in an awkward state in Australia. In the beginning, the country seemed to be quite open-minded to the idea of virtual currencies, and let things slide without any intervention. Later on, it was decided that Bitcoin would not only be taxable, but subject to additional taxation on top of the normal rate to boot. If that wasn’t enough, major Australian banks are no longer working with Bitcoin companies either.
Argentina is one of those underbanked nations in the world, where local residents are looking for ways to move funds in and out of the country in a convenient manner. Unfortunately for those people, the Argentinian government has enforced very strict capital controls, all but eliminating the option to move funds outside of the country. Bitcoin offers major potential in this regard and Argentina is warming up to virtual currency.
Unisend – Argentinian Bitcoin Exchange
Unisend (Argentina) is a well-respected company in Argentina, as this is the country’s first order-book exchange. There are not that many Bitcoin exchanges in Argentina to begin with, despite there being an increasing demand for options to buy and sell Bitcoin by local residents.
Operating a Bitcoin exchange in the United States has become a bit of a hassle lately, as various states are in the process of creating a regulatory framework for virtual currencies. As a result of this impending regulation, Bitcoin exchange operators will have to apply for specific money transmitter licenses, which are not cheap. But anything is possible, as the Laissez Faire exchange platform has demonstrated.
Laissez Faire is Legal in 49 US States Right Now
Over the past few months, there has been a shakeup of Bitcoin exchanges willing to pursue specific operating licenses. Ever since the BitLicense regulatory framework was announced, multiple exchange platforms have halted their services in the New York state area, whereas a handful of others are pursuing their licensing requirements.
With so many services accepting Bitcoin payments, spending virtual currency for everyday needs is becoming incredibly easy. But not every service is accepting Bitcoin for the right reasons, as some companies charge outrageous fees for accepting the virtual currency. This is strange, as Bitcoin payments are inherently cheaper compared to traditional payment methods.
More and more platforms and services around the world are embracing Bitcoin payments; as not only are Bitcoin transactions instant, but they also invoke lower transaction fees compared to traditional payments. Furthermore, Bitcoin payments work identically all around the world, allowing service providers to increase their global customer base by quite a margin.
FXPrimus – Retail Forex Meets Bitcoin
Bitcoin is often touted as the virtual currency that will disrupt the financial ecosystem as we all know it. While there may be some merit to that statement, the evolutionary change to virtual currencies will not happen for quite some time. Until that time, there will be more and more options for enthusiasts to spend Bitcoin and make an additional income on the side.
Various merchants have jumped on board the Bitcoin bandwagon in the past few years, which at first, led to great success in terms of sales. However, it seems like Bitcoin purchases are becoming less and less frequent in numerous cases. Even gift card platform Gyft has seen a decline in Bitcoin revenue and a surprising uptrend in credit card transaction volume.