Benefits of Bitcoin

Here at MSNL, we’re always looking for ways to improve the service we offer to our customers. We’re happy to be able to tell you that we’ve just made it even easier for you to pay for your seeds by adding support for Bitcoin to our site. Bitcoin is a unique payment method in that it was designed for the digital economy and hence has been widely adopted by internet retailers and their customers. It offers many advantages over traditional payment methods.

Lower prices for us means lower prices for you

We always aim to keep our prices as low as possible, but the fees charged by long-established payment services are outside our control. These companies have shareholders who need to be kept happy and the price they charge for their service reflects this. Bitcoin, by contrast, is open-source and has minimal processing costs, which means that their fees are substantially lower than any traditional payment scheme. Because of this, we are able to offer a discount of 10% on purchases made with Bitcoin and we’ll also be having occasional flash sales with up to 30% off!

 

Your data stays your property

These days companies seem to want more and more data about everything we do and the general explanations are either that it’s for our safety or that it’s so they can serve us better. The cynical might wonder if the requests were more to do with targeted advertising than anything else.

While large organizations are generally at pains to reassure us that they keep our data safely, actually in reality, it’s been shown that a number of well-known organizations have had serious data breaches. Looking at newspaper headlines, you might be forgiven for thinking that the U.S. was the worst country in the world for data security, but it’s worth noting that the U.S. has very strict laws which require companies to disclose data breaches. In many other ccensored-net-neutrality-privacyountries, including the UK, it’s much easier for companies to cover up IT security incidents. Notwithstanding this, many household names have been caught out including government departments such as HMRC, financial services companies such as Tesco Bank and Nationwide and a whole long list of major retailers from Morrisons supermarket, to Three Mobile, TalkTalk and TMobile. In some cases, the incidents were outright theft, in other cases it was carelessness, such as using real data on test sites and in others staff actively colluded with criminals.

In short, if you value your privacy and want to avoid issues with your bank account and payment cards being compromised or more serious issues of identity theft, your best approach is to keep your personal data private as much as you possibly can. Bitcoin understands this and has therefore been designed to allow transactions to take place securely without the need for personal data to be transmitted and/or stored.


Buy the Bitcoins you need when you need them

Some of you may have read articles about Bitcoins losing value after they have been purchased. There is some truth in this because Bitcoin is essentially the new digital currency and all currencies fluctuated in value to some extent, even from one day to the next. If, however, you’re just buying the Bitcoins you need for immediate use, then there is absolutely zero risk involved. You’re only at risk if you intend to buy and hold Bitcoins over the long term, in which case their value can go down (and up), but that is true of absolutely any currency.

Buying and using Bitcoin is easy

Probably the best place to start is at localbitcoin.com where you will be able to see who trades in your area. There are always plenty of online offers and unless you live somewhere really remote, there is a good chance that you will be able to buy Bitcoin for cash if you wish.bitcoins You will also need a wallet in which to store the Bitcoin, even if only for a few minutes. If you buy Bitcoin from an exchange (basically a marketplace for Bitcoin) then you will probably be provided with one. If you choose to buy Bitcoins from a personal seller, you can easily set yourself up with one. Just look on bitcoin.org for a list and choose the one which best meets your needs.
Bitcoin wallets are available in a variety of forms from web based (allowing you to access them from anywhere on any device) to paper, for many people app-style wallets are the best choice as you can use them from your preferred mobile device, giving you flexibility, but the fact that they are restricted to a particular device gives you a bit more security, particularly if you use and anti-virus on your device and follow good security practice such as being careful what you download and always updating apps promptly.

Leave a Comment

Sorry, you must be logged in to post a comment.