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With the Christmas season now fully upon us, we are in the process of scouring stores and online websites in hopes of stumbling upon that perfect gift for everyone on our shopping list. We here at Gifts With Style know how difficult it is to get all your shopping done. That is why we hope the changes which have come to our website will make your Christmas shopping a little easier. Not only is our site now even more user friendly, but we have also started accepting Bitcoin as a new payment method. Now, you can do all your Christmas shopping with the ease offered by this currency.
Many of you are probably familiar with the term, "Bitcoin" but are still unaware of how it all works. Bitcoin is the first decentralized digital currency; in other words, it is virtual tender which can be sent and stored on the internet. Rather than saving paper bills and metal coins in a bank or in that cookie jar on the back shelf, Bitcoins are stored in a virtual wallet where you can easily access all of your money via a smartphone or computer. Then, when you are ready to make a purchase, simply transfer the specific amount from your Bitcoin wallet to the company or individual.
From this simple explanation, you may wonder how Bitcoin differs from a checking account or even your credit card. After all, swiping a card or typing your information online allows you to transfer money within the same manner. While this is true, Bitcoin does have some advantages which are not available with traditional currency. First, unlike money, Bitcoins are not handled or controlled by any bank. Because of this, transfers from person to person are even quicker, your account cannot be frozen and there are no prerequisites. Additionally, because Bitcoins have no governmental regulations, this currency can be used and transferred all over the world, allowing you to make purchases more freely.
Being able to transfer your money in this manner is quite appealing; nevertheless, you may still have hesitations about how all of this works. If it is not regulated by any bank, how is your money kept safe? How does the system function to keep people from saying they have more money in their virtual wallet than actually exists? What system is used to keep everything from being a total mess? Basically, Bitcoins are encrypted within a system called the block chain. This is a public record of Bitcoin transactions which is kept in chronological order and is shared between all Bitcoin users. It is used to verify the permanence of Bitcoin transactions and to prevent double spending. Additionally, each Bitcoin is unique; therefore, once it is spent, this information is kept in the block chain and Bitcoin miners verify and authenticate each transfer. This is done through the process of making computer software do mathematical calculations for the Bitcoin network to successfully confirm transactions and increase security. If someone tried to double-spend a Bitcoin, it would instantly show up in the public ledger, and would raise a red flag.
While all of this may sound rather confusing, Bitcoins and their transaction process is rather straightforward and safe to use. Because of the unique and extreme encryption of your Bitcoins and wallet, the processing power needed to break the code and gain access to your money is basically non-existence. As it has been said, you would need to find a way to harness all the Sun's energy before you could have the technological power to decode a Bitcoin. Needless to say, this gives Bitcoins an edge over traditional banking methods.
Now that you know about Bitcoins and are ready to pay for you online purchases, it's time to start obtaining your money! But where do you begin? While there are several ways which you can collect Bitcoins, some of the easiest ways include accepting them as payments yourself or exchanging them with a traditional form of currency. However, if you are looking to actually earn Bitcoins, then consider becoming a Bitcoin miner. For information about how you can earn Bitcoins this way, please check out https://www.bitcoinmining.com/.
Bitcoin and cryptocurrencies of this nature are already changing the way people are interacting with money over the internet and have the potential to become a widely used currency in the future. As more and more companies begin accepting this currency as payment options, it is quiet possible more employers will begin to offer their employees the option to be paid with Bitcoins. As the future of Bitcoin progresses, Gifts with Style is proud to be a company supporting this revolutionary currency. So go ahead, begin shopping for all those on your Christmas list and allow Bitcoin to make your shopping experience even better!