Thursday, April 14, 2016

Bitcoin and BitGold: The New Digital Currency

Did you know that there is a new currency on the market?  Actually there is more than one.  Bitcoin and BitGold are new ways to pay for digital transactions around the globe.

Considering that the average credit card processing fee is over 2 percent, more and more businesses are supporting digital currency transactions. Bitcoin, with its Coinbase exchange service based in San Francisco, offers zero fees for the first $1 million in transactions and only 1% per transaction after the mark is met.

Bitcoin has a debit card, completely funded by Bitcoin, issued by Visa that allows you to use the currency anywhere Visa is accepted.

BitGold is an alternative to Bitcoin, but considered less volatile as it is considered a tangible form of currency that you can actually hold in your hand (By means of a physical gold bullion).  You can use BitGold anywhere MasterCard is accepted since it provides you with a prepaid "gold" card.

For more details on these new currencies you can go to CNN Money where they will explain all the basics of Bitcoin, or you can visit (yes, there is a whole website dedicated to it) to discover more about BitGold

Maybe this is the beginning of a single worldwide accepted currency...

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