‘BitCoin’ here, ‘Litecoin’ there, or rather ‘Ether’, ‘Monero’ or ‘Ripple’?! There are thousands of different cryptocurrencies that have been heard of in a few months.
In this blog entry we would like to show you briefly (really short – promised!) What it is about and why we accept our first cryptocoins as a payment method.
The BitCoin has been around since 2009, LiteCoin since 2011. Both are cryptocurrencies of the early hour, BitCoin whatever the first block-based cryptocurrency worldwide. Although there are already cards, with which you can withdraw money as with a conventional bank card, or can pay with, for example. From TenX. Instead of getting BitCoin, however, it wants to be converted into Euro & Co. at a current exchange rate. However, these still lead to a certain existence.
Unlike centralized managed ‘traditional’ currencies, BitCoins and LiteCoins are decentralized. Simply put, it is not a bank or other central institution that regulates and maintains the currency, including the number of monetary units, but the network of users.
Another very important difference is the transparency of transactions. The so-called BlockChain ensures that each step is traceable and traceable for everyone, but still remains pseudonymized.
Compared to the traditional currency system, transactions are much faster. The fixed upper limit on the total number of many coins thus protects this payment method against inflation. For this reason, the BitCoin is sometimes compared to gold, the Litecvoin to silver.
So what do we have to do with musegear with cryptocurrencies? Due to the current hype, more and more online shops are offering to pay with digital currencies. Musegear – as a young, dynamic, innovative company – sees in BitCoin & LiteCoin as an alternative payment method great potential for present and future. Whether it’s a tried-and-tested or a newly established BitCoin or LiteCoin, we accept the currency that gives you, as our customer, the opportunity to pay as you please!
In the future, of course, we want to accept even more digital currencies!
Happy Buying 🙂