What is cryptocurrency?
Cryptocurrency is a form of digital currency that utilizes cryptography to securely process and verify digital transactions. It’s been around for a little while now but has only recently gained a lot of attention as it becomes more of a serious alternative to actual, physical cash. While there are a TON of different types of cryptocurrencies currently in the market, we are starting by accepting the two most widely used forms: Bitcoin (BTC) and Litecoin (LTC).
Cryptocurrency can typically be acquired in a couple of different ways. You can either do what called “mining” which is utilizing the processing power of a computer to essentially solve a series of extremely difficult mathematical equations, with each solution typically resulting in the acquisition of some amount of digital currency. Mining is the backbone of cryptocurrency but it’s not always the most realistic for the average consumer who may not have the knowledge or sheer computer power to accomplish these tasks with any efficiency.
Alternatively, you can just buy cryptocurrencies online from various different cryptocurrency exchanges...almost like the stock market. Or you can even buy them from another person who owns them and skip the middleman, albeit potentially risky.
You see, cryptocurrency differs from traditional currency in the sense that it is not overseen by any central banking system like regular currency and it is, of course, not actual physical money. It’s all done online from the creation of the currency to the spending of the currency and anything in-between. The value of coins like BTC and LTC is relative to the number of coins available to the market. For example, Bitcoin is capped at about 21,000,000 BTC and Litecoin is capped at around 84,000,000 LTC.
You can buy Bitcoin, Ethereum, and Litecoin at Coinbase
You can learn more about Bitcoin here: https://bitcoin.org/
You can learn more about Litecoin here: https://litecoin.com/
Why do we accept cryptocurrency?
Part of our growing responsibility to our customers is to ensure that we accept as many different payments methods as we can to ensure we have options for every type of customer. Our industry is constantly evolving and we want to do our part to stay at the forefront of innovation, especially when it comes to something as universal as a variety of accepted payment methods.
Cryptocurrency has a variety of benefits for customers including added fraud protection, global acceptance meaning no foreign transaction fees and more. We proudly accept Bitcoin and Litecoin and reinforce our commitment to you, our customers, to do everything we can to fit the needs of our rapidly expanding customer base.
Cryptocurrency has been making waves recently, even being touted as “the currency of the future” by many. Each day, more and more major businesses are beginning to accept cryptocurrencies as a form of payment including names like Microsoft and some schools have even begun to accept it as a form of tuition payment. This stuff isn’t “fake money” but rather very real and it’s growing FAST. Bitcoin alone has risen nearly 1,000% in recent years with Litecoin not very far behind.
We’re proud to accept cryptocurrencies like Litecoin and Bitcoin and we hope that you see how easy it can be to pay with them in the near future.
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Here's a heatmap of businesses across the globe that now accept cryptocurrencies:
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