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Denver Web Hosting Company to Accept Bitcoins for Payment
Beanstalk Solar Hosting, a division of Denver-based Unleaded Software Inc., a leading developer of ecommerce websites, announced today that it will accept the cyber-currency bitcoin for payment of hosting services starting July 1, 2013.
Joining the growing number of businesses that accept the virtual currency was a natural for Beanstalk, according to company president Jarod Clark. “We’ve always been proud of our position as an innovator in providing Internet services and development, so when bitcoins became an alternative to traditional methods of payment, we wanted to embrace the technology,” Clark says. “Beanstalk Solar Hosting’s forward-looking customers share our confidence in bitcoins. We have a client who does over $800,000 a month in bitcoin transactions, so obviously they are gaining traction, especially in e-commerce.”
Bitcoins are a virtual currency conceived in 2008. The currency has become a favorite among early adaptors, particularly in tech-savvy businesses. Using decentralized networking, bitcoin transactions can be processed securely by any Internet-capable device worldwide.
While the bitcoin is used in a rapidly growing number of countries and enterprises, the source of its invention remains a mystery. Claims are that an entity using the pseudonym Satochi Nakamoto is the mathematical genius behind the complex algorithms required to mine coins by solving problems that grow more difficult with each bitcoin mined.
Bitcoins provide some tangible benefits to merchants over other forms of electronic payment. The software to mine and use bitcoins is free and open source, so there is no cost to join the system and no built-in transaction fees. Thus a business can avoid credit card handling fees, wire fees, and international check processing fees. Additionally, bitcoins are convertible to and from nearly every currency, so consumers worldwide avoid the customary foreign transaction fees.
The value of bitcoins varies just like gold, oil and other commodities. Bitcoin exchanges similar to the stock exchanges report the bitcoin value minute-to-minute. Beanstalk Solar Hosting processes bitcoin payments through BitPay, a payment gateway similar to PayPal that is tied the bitcoin exchange. It instantly converts charges to the current bitcoin value so that customers avoid the need to do so themselves.
“Bitcoins are an exciting new concept in e-commerce,” Clark says. “But like any other form of online payment, bitcoin users should only shop on sites they trust. Beanstalk Solar Hosting and the Unleaded Group are proud of our fifteen-year-plus history of bringing the latest in technology and design to our clients around the world. Adding bitcoin processing capability is just the latest step in giving our customers industry-leading technology and service.”
Beanstalk Solar Hosting powers its servers with a 3.7 kilowatt solar system, making it one of the only “green” web hosting companies in the country. It is part of Unleaded Group, a Denver-based Internet design and e-commerce development business established in 1996. With satellite offices in Spain and India, Unleaded has seven Magento-certified software developers ranking them among the world leaders in e-commerce web site design.
Visit BitcoinIntro.com for more information on bitcoins and their history and use.