• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Start a Live ChatEmail us+31 88 3 088 099
Mail us

Utility Bar Right

Clientarea
Ajax
en en
  • en English en
Ajax

Snel.com

Self-managed dedicated and cloud hosting

  • Domains
  • Web Hosting
    • Professional Web Hosting
    • Reseller Hosting
  • Cloud Hosting
    • Cloud VPS
    • Managed Cloud VPS
    • Cloud VPS Upgrades
    • Operating Systems
  • Dedicated Hosting
    • Dedicated Servers
    • Managed Dedicated Servers
    • Budget Servers
    • Dedicated Server Upgrades
    • Operating Systems
  • Support
    • Support Portal
    • Snel NOC
    • Contact Support
    • Write for Snel.com
  • More
    • Our Story
    • Contact Us
    • Reviews
    • Add on Solutions
    • Managed Server Plans
    • Data Center
    • Network
    • Service Level Agreement
    • Payment Methods
    • Snelwallet
    • Affiliate Program
    • Blog
Snel.com
  • Domains
  • Web Hosting
    • Professional Web Hosting
    • Reseller Hosting
  • Cloud Hosting
    • Cloud VPS
    • Managed Cloud VPS
    • Cloud VPS Upgrades
    • Operating Systems
  • Dedicated Hosting
    • Dedicated Servers
    • Managed Dedicated Servers
    • Budget Servers
    • Dedicated Server Upgrades
    • Operating Systems
  • Support
    • Support Portal
    • Snel NOC
    • Contact Support
    • Write for Snel.com
  • More
    • Our Story
    • Contact Us
    • Reviews
    • Add on Solutions
    • Managed Server Plans
    • Data Center
    • Network
    • Service Level Agreement
    • Payment Methods
    • Snelwallet
    • Affiliate Program
    • Blog
Home > Blog > Bitcoin the currency of the future?

Bitcoin the currency of the future?

How many times have we heard the word ‘Bitcoin’ lately? Bitcoin becomes more popular by day, the future seems to focus on digital currencies and Bitcoin has distinguished itself from the crowd for many reasons.

bitcoins

So what’s all the fuss about Bitcoins?

Some people think that Bitcoin is doomed to fail because it’s too risky to invest in this and others believe that Bitcoin will overtake any other currencies. Only time will tell whether Bitcoin will be the currency of the future but it already has so many advantages that can’t be denied. We will mention a few advantages later but let’s start with how you can get Bitcoins.

In order to get Bitcoins you have to solve complex algorithms across an open source network. The algorithm actually needs to be solved by your computer and it has a 64-digit solution which is a lot of work. There are “blocks” on the internet that need to be solved to release their bounty. Bitcoins come in different units from a Bitcoin itself (1BTC) down to milli-Bitcoins (0.00000001BTC). They are usually stored in a digital wallet, but they can also be printed. The printed version comes in a QR code and a 51 alphanumeric digit private key that begins with a 5. A wallet is a collection of addresses and their associated private keys. There is estimation that there are 3,600 new Bitcoins released every day and currently there are 12 million Bitcoins in existence. You can spend Bitcoins by finding a vendor who sets the price for an item in Bitcoins. You can send the price of the item to the Bitcoin address of the vendor through your online wallet. You can protect your anonymity during your transaction because there is no registry of these addresses.

How Secure is Bitcoin?

Bitcoin is probably one of the most secure online payment methods at the moment, but in general the user is responsible for the security of his own wallet. This could be dangerous if you don’t know what you are doing. So like in real life you need to secure your wallet. Here you can find a few options how to secure your wallet:

  • Backup your entire wallet
  • Encrypt online backups to prevent vulnerability against malicious software
  • Use secure locations for your backup like USB keys, CD’s, hard disks.In order to see more details on how you can secure your wallet you can read an entire article on Bitcoin.org.
 bitcoin wallet

Bitcoin is easy to carry

You probably wouldn’t carry a thousand dollars in your pocket but with Bitcoins you don’t even have to worry when you carry a million dollars. You can easily carry a big amount of Bitcoins on your memory stick without having to worry about it.

 

Low collapse and inflation risk

Bitcoin is not regulated by any government so the currency doesn’t depend on the government. Furthermore, there is a low inflation risk because Bitcoin is finite. There is only about 21 million Bitcoins that will ever be released.

mysteryWho invented Bitcoin?

If your wonder who invented Bitcoins we can tell that there is a big mystery around the inventor. No one has ever seen him but Bitcoin was invented in 2008 by the Japanese academic Satoshi Nakamoto. He claimed to have been working on the idea for about two years and he was active on the Bitcoin Forum till mid-2010. However, before this period he already had passed on the control to Gavin Andresen (current lead developer of Bitcoin). In April 2010 he told to one developer that he had moved on to other things and no one has heard of him since then.

Does Snel.com accept Bitcoins as a payment method?Snel.com accepts bitcoins

Yes sure we do! We are accepting Bitcoins for more than two years now and we can tell that we were actually one of the first hosting providers that offered Bitcoin as a payment method to its customers. Ofcourse we allow more payment methods among which PayPal, Mastercard, Visa and Wiretransfer. Click here to find all our payment methods.

Thursday, December 12th, 2013

Reader Interactions

Primary Sidebar

earn money with our Affiliate program

Archives

  • November 2020
  • July 2020
  • May 2020
  • April 2020
  • February 2020
  • December 2019
  • March 2019
  • November 2018
  • April 2018
  • November 2017
  • August 2017
  • January 2017
  • December 2016
  • August 2016
  • February 2016
  • October 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • February 2014
  • January 2014
  • December 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • May 2012
Start a Live Chat
Email us
+31 88 3 088 099 

Footer

Our Products

  • Domain name
  • Professional Web Hosting
  • Reseller Hosting
  • VPS
  • Managed VPS
  • Dedicated Servers
  • Managed Dedicated Servers
  • Managed Server Plans
  • Add on Solutions

About Us

  • Our Story
  • Contact Us
  • Reviews
  • ISO Certification
  • Data Center
  • Network
  • Snel NOC
  • Payment Methods

Legal

  • EU GDPR
  • Service Level Agreement
  • Disclaimer
  • Privacy Statement
  • Terms and Conditions
  • Data Processing Agreement
  • Acceptable Usage Policy

Blog

  • Snel.com Interview with Top 10 Website Hosting
  • Self-managed or Managed Hosting?
  • Snel.com is now ISO 27001 certified

Show us some love

ISO 27001

Stay Updated

Copyright © 2021 Snel.com B.V. All Rights Reserved.

This website uses cookies to improve the experience of our visitors. Read moreOk, do not show again