Pay Your Credit Card Bills Using Bitcoin - Essay Example

YesToBitcoins Customers Can Pay Their Credit Card Bill with Bitcoin

We Will Write A Custom Essay Sample On
ANY TOPIC SPECIFICALLY
FOR YOU

For Only $13.90/page


order now

Canadian bitcoin company YesToBitcoins now allows the users to pay all their credit card bills using bitcoin. This is applicable for all kinds of credit cards available in Canada.

All bitcoin enthusiasts would like the option to pay their bills with the digital currency. Ehile this is possible for certain services, all payments cannot be completed using bitcoin.

A new service from YesToBitcoins offers the bitcoin users exactly what they want. With this service, users can pay their Credit card bills with bitcoin.

YesToBitcoins is a bitcoin startup based in Canada. It now allows customers to use Bitcoin as to pay their credit card bills. It is expected that a service like this will definitely bring some changes to the existing economic system.

The added option allows digital currency bitcoin to compete with the traditional fiat currencies.

YesToBitcoins was launched back in June 2014. At the time, the firm only offered a system to select and buy popular gift cards using bitcoins.

The gift cards they offered included cards from Amazon, Starbucks, ITunes, Decathlon, Zara and many renowned companies.

The recent decision to enable customers to pay their credit card bills was a very bold step. The service is applicable for all the Canadian credit cards.

This includes 4 types of American Express cards, 23 different MasterCards and 33 different VISA cards. Usually, the only way to pay for these cards is with fiat currency but locals are happy that they can use now bitcoins too.

Creator of YesToBitcoins.com Darwin Ramon, who is also a Bitcoin enthusiast, said that the idea for this service was inspired from the frequently asked question “why can’t I use bitcoins to pay my credit card bill?”

He realized that the technology needed to make it possible was already available, so he gave people what they wanted.

Ramon shared that it is his goal to facilitate the addition of bitcoins to the established economy. He explained that if things bought with credit card can be paid with bitcoins, anything a person buys can be with the crypto currency.

YesToBitcoins formed partnership with one of the leading bitcoin payments processor, BitPay. BitPay helps the company process all the Bitcoin payments.

BitPay’s service will be used to compute the bitcoin equivalent of the amount owed in Canadian dollar.

The Canadian company has already fixed another partnership. They partnered with PC Financial Bank. The bank will facilitate all the credit card bill payments.

The digital currency has witnessed a huge rise in adoption during the last 2 years. Leading companies like Microsoft, Expedia, Dell and Overstock are now accepting payments in bitcoin.

More and more people are starting to pay with bitcoins as many merchants now accept it.

The future for YesToBitcoins seems very bright, as they are giving the Canadian credit card owners the choice to pay all their credit card bills with this the popular crypto currency. Using bitcoin to pay these bills is convenient and fast.