Bitcoin

Published on October 3rd, 2015 | by neteller

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LEOcoin observes the fact that the understanding the interest of its merchant customers has lead Neteller to add the Biticoin deposit feature

Today there are so many people speaking about the growing prominence of Biticoins. But very few would know when the first biticoins transactions were undertaken. If you take a peek into the history of Biticoin, you would find out that the first transaction was taken by its inventor Satoshi Nakamoto, when he transferred 100 biticoins on Jan 12th, 2009 to Hal Finney. This was the beginning of a new era of digital currency. Technology experts have commended the fact that the Biticoin network has a powerful computing power which is stronger than the supercomputers network which has more than 500 supercomputers in it.

Why did the price of Biticoin fallWhy did the price of Biticoin fall?

Even when Neteller introduced the Biticoin deposit feature, many people in United Kingdom expressed their doubts regarding crypto-currency. The rate of a biticoin became lesser than $250 and was at its all time low of $236. However, after a few days it recovered and the amount became $245. This fluctuation of price affected other crypto-currencies like peercoin, dogecoin and litecoin. These other types of virtual money also suffered from devaluation which was 4% to 6% from their original price. It is essential to mention here that darkcoin; one of the other popular brands of crypto-currency was able to dodge devaluation of its price. In fact darkcoin witnessed a 7% increase in its original price and this was one of the highest price trends that it ever enjoyed in 2013.

What is the merchant interest?

Studies undertaken by YouGov have expressed the fact that 85% of merchants feel that they would not be comfortable to use a digital currency like biticoin in their transactions. Leocoin a UK based crypto-currency undertook a survey before it was officially launched in April, 2015. Dan Andersson one of the founders of Leocoin was of the opinion that the credibility of the industry needs to be established to a large extent. The YouGov study also indicated most merchants were concerned regarding the service fees which they needed to pay when using biticoins. The final analysis which could be deducted from this study was that only 2% of the existing merchants were open to use digital currency like biticoin. Leocoin also felt that as more people started using crypto-currency, the market share for leocoin would also grow considerably.

Neteller has introduced the biticoin option

Once Neteller has confirmed the fact that the Biticoin deposit feature would be added into its payment system, the option was added in the website and also in sites where Neteller was a provider of gift cards. The entire integration was coordinated by BitPay.

Would this facility be available in USA?

Neteller is closely associated with online gaming segment and its products like Net + cards are very popular. Due to various policy restrictions, this option would not be currently available to its US customers.

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