Paying with crypto, most notably Bitcoin, has been becoming increasingly more popular, due to the fact that many companies have started to accept it as an alternative payment method. Hosting providers are also included in this long list and many users have begun to make use of this innovative payment option. But why? There are several advantages of paying for your server using Bitcoin and here are just a handful of them.
Hosting companies have enabled users to use crypto as an alternative payment method and have even turned this feature into a service of its own – the Bitcoin VPS. While there are dedicated servers and shared hosting that you can also buy with crypto, virtual private servers seem to be the go-to option for most, due to their immense flexibility and their ability to scale both up and down. This further solidifies their position as a viable contender and a prime choice for a large portion of the online user community. Such servers utilize virtualization technology in order to create separate virtual machine instances with each having its own resources that are not shared with other users, despite being located on the same physical server. While dedicated servers are also a very option that can be purchased with Bitcoin and other cryptocurrencies, they are quite expensive even though they are the most powerful out of the available ones. Shared hosting for crypto is also something that exists, but most regard this option as ineffective due to the fact that you need to share resources with others, which can prove to be quite troublesome in some situations.
Protect your privacy and identity
Using Bitcoin to pay for your servers is something that many individuals value due to the fact that such transactions are very good for preserving your anonymity while also protecting your privacy. This is because Bitcoin payments are essentially currency transferred from one address to another without any additional information attached to them. Furthermore, each transaction is later recorded and safely stored in the blockchain, allowing you to check each and every transfer ever made with the corresponding code at a special terminal.
Inexpensive international payments
This makes international payments not only safer but also cheaper. Given that Bitcoin is decentralized and it cannot be governed by one singular body, its price is determined based on a number of factors which can help battle inflation. Additionally, in combination with the fact that payments involve just transferring money between different addresses as we mentioned previously, transaction fees are substantially lower. This is partially also due to the fact that there is no third-party provider like a bank or application like PayPal to put additional tax on any international payments.
It is fast and effective
Everything you need to conduct a Bitcoin transaction is just an electronic device that has access to the Internet as well as a Bitcoin wallet, which you can register and make in just a few minutes. This also means that residents of countries that do not have access to any traditional payment methods such as bank transfers, can still make payments using the cryptocurrency.
Lynn Martelli is an editor at Readability. She received her MFA in Creative Writing from Antioch University and has worked as an editor for over 10 years. Lynn has edited a wide variety of books, including fiction, non-fiction, memoirs, and more. In her free time, Lynn enjoys reading, writing, and spending time with her family and friends.