CryptoCoins and other Payment Gateways on Luxhosting.lu
What is Bitcoin?
Bitcoin is the first cryptocurrency designed to pay for goods and services just like the dollar, euro, pound, yen, etc. It is digital or electronic cash that has monetary value but no physical denomination. You have seen the emblem of Bitcoin on a gold coin but it’s symbolic, you cannot hold bitcoin in your hand and give it to someone like you would material currency. The differences between Bitcoin, other cryptocurrencies and regular currencies:- Decentralised—there is no government or central bank that controls the currency supply.
- Digital—there are no physical cryptocurrencies, Bitcoins, or Bitcoin bills. The currency exists entirely online, tracked by blockchains, which are growing groups of records that provide a complete history of each Bitcoin and ensures double spending doesn’t occur. (Blockchain technology allows you to track the exchange of bitcoins, for example, imagine that you could use the serial number on a twenty-dollar bill to search every single time it changed hands.)
- “Pseudo-Anonymous”—Bitcoins linked to a wallet ID as opposed to your personal information. It doesn’t make it entirely anonymous.
How Anonymous is Anonymous?
In reality, cryptocoins do not have perfect anonymity. A crafty hacker, cybercriminal or government agency can possess the means to link Wallet ID with their holder’s information, they can track anything. And while crytocurrency transactions are transmitted securely over a peer-to-peer network (the anonymous aspect) the system isn't fool-proof. For example, if a hacker can connect multiple nodes on a cryptocurrency network, the accumulated data collected from various nodes may perhaps be enough to determine where a transaction originated. Additionally, cryptocurrency can be linked to real identities—if those identities are coupled with the cryptocurrency addresses in some way. This can include addresses utilised to deposit or withdraw money to or from an exchange or wallet. As we’ve stated earlier, crypto-transactions are logged on a blockchain which ensures authentication and encryption across the peer-to-peer network. This architecture ensures that the system does not reveal the identity of the individual or company sending and/or receiving the cryptocurrency, thus pseudo-anonymity. So, if a keen individual or hacker was able to find your address and unique private key then in theory, they could steal your cryptocoins. Evidently, there are no refunds and tracing of transfers; if you send a payment by mistake it is highly unlikely you could reverse the transaction.How much Bitcoin is in Circulation and Where to Buy?
The Bitcoin system was designed to ensure that there is always a high demand. Only a maximum of 21 million Bitcoins exist. This makes these cryptocoins even more valuable setting the stage for mining. In fact, as of fall 2018, only 17.3 million Bitcoins had been mined. The idea of mining for Bitcoin can be likened to the gold rush of times gone by. Mining Bitcoin is expensive, requires specialised software that can solve complex math problems in order to uncover the Bitcoin floating in cyberspace. You can buy Bitcoins with actual cash, debit, and credit cards. However, before you invest in cryptocoins you first need to create and establish a wallet with a wallet ID that will hold all your Bitcoin and other cryptocurrencies. You can also purchase various types of cryptocurrencies from trusted carriers. Before doing so set up your Wallet ID.You have 3 options for creating a cryptocurrency wallet:
- Purchase a software wallet stored on the hard drive of your computer.
- Use an online service that secures bitcoin in a web-based wallet.
- A ‘vault’ service that stores your bitcoin wallet offline or ‘multisig’ wallet that uses several keys to protect the account.
Cryptocurrency for Secure Online Payments
The payment and verification process associated with cryptocurrency’s peer-to-peer payments makes the system secure and airtight. The greatest risk comes from someone hacking your crypto coins address and public/private keys in order to steal your crypto coins. This allows you to make instant transactions quick and easy. There is no need for often time-consuming regulatory checks, and companies only receive the public key relating to a cryptocurrency. This means that those scouring through public records to search for cryptocurrency transfers could only send money to your public wallet. They will never have access to your private key and funds. In many ways, the security aspect of all cryptocurrencies, in general, is more concentrated on protecting your crypto coin address, public, private keys and password protecting your computer. In a lot of ways, it is the nature of the cryptocurrency payment process, blockchain, which makes it so secure with only the transfer system having access to your public and private keys.Use Cryptocoins for Everday Purchases
In the United States and other countries around the world, Cryptocurrency Kiosk machines are making it easier to buy, sell and bitcoin in grocery stores. Think of the Kiosk as the Crypto version of an ATM. Other Coinstar machines allow you to convert cryptocurrency to cash to make payments. In fact, to date, there are over 4,000 cryptocurrency and bitcoin ATM machines around the world. Allowing anyone to withdraw cash denominations from their cryptocurrencies, in some cases insert cash to purchase the digital coins or sell them. Either way, using crypto cash is becoming more accessible to the average person. The future for Cryptocurrency seeks to ensure that more and more people have access to owning the digital coins. With crypto-credit cards, more automated kiosks and world-wide merchants accepting the currency for goods and services. According to calculations by Chainalysis, a company which tracks the use of cryptocurrencies around the world, in 2017, consumers used a monthly average of $190.2 million (£151.5 million) on merchant services. Everyday online shopping is now easier with cryptocurrencies. For example, on Purse.io, you can shop online with your cryptocurrency, and even purchase products from Amazon. In addition, companies like GoCoin assists merchants in becoming bitcoin-friendly.Pay for your Hosting with Cryptocoins
Naturally, web hosting companies would seek to utilise the currency of the digital age and embrace cryptocurrencies. In fact, the Bitcoin and other cryptocurrency payment gateways have grown in popularity with Hosting. The features of enhanced security, quasi-anonymity, autonomy due to decentralisation of the currency is attractive to many online companies. Hosting in Luxembourg is one of the most secure options for your online business. In fact, Luxembourg falls in the top countries for data safety. Read more about it in this article. Here at Luxhosting.lu we have expanded the number of cryptocurrencies we accept. For your convenience, you can now pay for your hosting services from a selection of more than 50 difference cryptocurrencies which include:- Bitcoin
- Litecoin
- Ethereum
- Bitcoin Cash
- And more.
Bitcoin (btc) |
Monaco (mco) |
er (eth) |
Litecoin (ltc) |
Link (link) |
Bitcoin Cash (bch) |
Sirin Labs (srn) |
Telcoin (Tel) |
Nano (nano) |
Ethereum Classic (etc) |
Zcash (zec) |
Dogecoin (doge) |
Golem (gnt) |
DigixDAO (dgc) |
Wings DAO (wings) |
Decred (dcr) |
Stellar (xlm) |
Basic Attention Token (bat) |
Aragon (ant) |
Bancor Network Token (bnt) |
EOS (EOS) |
TenXPay (pay) |
OmiseGO (omg) |
0x Protocol Token (zrx) |
Qtum Ignition (qtum) |
Srotj (STORJ) |
FunFair (FUN) |
Bitcoin Gold (btg) |
DigiByte (dgb) |
District0x (dnt) |
Power Ledger (powr) |
Populous (ppt) |
Bread (brd) |
Noah (noah) |
Binance token (bnb) |
Polymath (poly) |
Kyber Network (knc) |
TrueUSD (tusd) |
Mithril (mith) |
XRP (xrp) |
Dash (dash) |
Augur (rep) |
iEx.ec (rlc) |
Civic (cvc) |
Which alternate gateway do you use?
Our company is a progressive one and we welcome alternative payment options. That's why we've provided this complete list of alternative payment gateways accepted for all website hosting solutions and allied services. Let us know what you like to use. You can comment on our Facebook page and follow our page for frequent updates.
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