Bitcoin can be a key e-commerce tool

Friday 6 December 2013 11:25 CET | News

Bitcoin can become a tool for e-commerce transactions, according to analysts at Bank of America’s Merrill Lynch.

The virtual currency which has been growing in popularity could benefit from its transaction costs and as an alternative to cash, according to a report from Bank of America’s Merrill Lynch. Although Bitcoins can offer benefits, the virtual currency faces challenges, including volatility and potential regulation.

Bitcoin is a peer-to-peer digital currency that functions without a central authority and was first introduced in January 2009. Bitcoins are stored in anonymous ‘electronic wallets’ or code, and can travel from one wallet to another by means of an online peer-to-peer network transaction.

In recent news, Bitcoin exchange btcQuick has deployed the online identity proofing service miiCard to verify new customer identity.

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Keywords: Bitcoin, e-commerce, e-commerce transactions
Categories: Payments & Commerce
Countries: World
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