DIGITAL CURRENCIES AND GOLD

In the modern world Bitcoin offer digital currency for instantaneous transactions over the Internet without the many limitations, regulations and fees of physical currencies. In 2009, Bitcoin released its open-source payment system providing an ecommerce solution ideal for businesses operating all over the world. Offered by over 38 million merchants worldwide, Bitcoin is a viable currency in the new age. The San-Francisco-based Bitcoin exchange service-Coinbase became an industry leader in the digital currency movement. Coinbase charges zero fees for the first $1 million in transactions and only 1 percent per transaction after this mark is reached. Today, businesses are supporting digital currency transactions, being more economical compared to the two percentage processing fee of the credit card.

BitGold, an alternative to Bitcoin is considered to be much less volatile. By means of physical gold bullion, BitGold offers a tangible form of currency that users can actually hold in their hands. Users can make transactions with BitGold anywhere MasterCard is accepted through the use of its pre-paid Gold card.

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