What Exactly Are Bitcoins?
Bitcoins (BTC) are the most widely used decentralized digital currencies, also known as cryptocurrencies. Actually, Bitcoin is more than just a currency; it is a digital asset that Satoshi Nakamoto invented and published in 2008.
Since 2009, more service providers and online retailers have begun to accept Bitcoins as a form of online payment. However, many major online retailers have yet to accept Bitcoins.
This is primarily due to fluctuation, as customers are not protected by chargeback options when using Bitcoins to pay for a service. This is also why you must exercise extreme caution when selecting a Bitcoin hosting provider.
While it is beneficial for the provider to be protected from fraudulent chargebacks and stolen PayPal accounts, you as a customer are at risk of falling victim to a scam and never receiving any service or refund. We will discuss the specifics further below.
What’s the best part?
There are numerous benefits to using Bitcoin:
- Privacy: If you can’t or don’t want a credit card, don’t get one. However, this is only applicable in certain areas.
- Avoid paying annual fees: Unlike credit cards, bitcoin does not require a yearly subscription fee.
- Quick Payment Processing: Payment processing is faster on the Bitcoin network.
- You do not rely on third parties: No third party can freeze or lose your bitcoin wallet.
- There are no additional fees: Say goodbye to interest charges, late fees, foreign transaction fees, etc.
How does Bitcoin work?
Payments made via the Bitcoin network are made without the supervision of any government financial institution. Furthermore, transactions between parties are “one-way,” meaning that once completed, one cannot reverse the payment.
The payment is processed via a peer-to-peer network of users who contribute computing power to the network. Each payment is recorded in a publicly viewable “blockchain” ledger, but this public record does not allow personal identification.
New Bitcoins are created as a reward for network users who assist in payment processing.
How to Buy a VPS with Bitcoins Safely
You must consider several factors to buy a cheap VPC BTC or any other hosting service with Bitcoin. We’ll help you walk you through the entire process so you can make an informed decision and avoid losing money.
- Purchase Bitcoins
The first step is, of course, to acquire Bitcoins by purchasing or mining them. You can buy Bitcoins on any trustworthy exchange service.
- Help find a Bitcoin VPS Service Provider
After obtaining your Bitcoins, you’ll need to locate a hosting provider that accepts Bitcoin as a payment method. If you want to buy a VPS using Bitcoin as a payment method, your best bet is to do a Google search for “VPS bitcoin.”
While a few VPS providers accept Bitcoin payments, you can trust not all of them. In the following section, we’ll explain how to make a good decision.
- Confirm the Bitcoin Hosting Service Provider
Once you’ve found a provider who provides the required service, don’t just buy the products! As previously stated, there is no way to issue a chargeback or revert a Bitcoin transfer. Therefore, it is also a secure payment method.
The fact stated above provides criminals with an opening. Criminals creating websites where you can buy services with Bitcoins happen more often than you think. If you purchase the service, you will never receive it, and the crooks will simply keep your Bitcoins.
As a result, before making any payment, you must ensure that you have chosen an established and reputable VPS bitcoin payment provider. In addition, we recommend that you take the following precautions for your safety:
- Examine the results of a Google search for “provider name + reviews.”
- Social media: Look for the provider on Facebook and Twitter. Every serious provider will have a social presence and at least 300 followers/likes. Check out the Facebook reviews as well.
- WHOIS Lookup: Go to ICANN WHOIS and search for the provider’s domain name. You’ll then see the domain registrant’s contact information and the date the domain was registered. Check that the domain is at least 2-3 years old and contains the company’s basic contact information rather than bogus information.
Conclusion Regarding Bitcoin Hosting Payments
VPS hosting bitcoin payment is an excellent and secure payment method for services such as web hosting. Payments are (almost) instant, which is a significant benefit. We support decentralized currencies like Bitcoin and wish more service providers would do the same.
The only disadvantage for customers is the inability to reverse a payment. Because of this, you must research the service provider before making any payments. Pay only if you are sure the provider is trustworthy, or otherwise you would just lose your money forever.
Therefore, doing a proper examination and trust on your VPS hosting provider becomes a must in this case. In this regard, Navicosoft is one of the best and the most trustworthy companies to get this done!