Frederick Coleman


How to keep your Bitcoin safe from the Dark Side

"’I Can't Afford Not to Have That Money’: The Worst PayPal Horror Stories.” “Paypal Horror Story 40k Frozen No Answers.” “PSA: If you opened your PayPal account before you were 18, close it now.”

Paypal doesn’t work. They are greedy, have confusing policies, and often hold your money for huge amounts of time. This is problematic for the ever growing number of ecommerce entrepreneurs that are building the backbone of the new digital economy. And it angers many.

Don’t we all want an easy to use, payment solution that you control and goes directly to your pocket?

Well there is an option, and we’ve all heard it; its Bitcoin.

But wait, there’s still an issue…. Bitcoin has a dark side. How do we set up a safer ecommerce Bitcoin payment solution?

Alright, I’ll stop toying with your emotions, this article is going to tell you the answer to that question. So don’t worry and stay tuned….

1. Be your own bank: Yes, you’re hearing the argument again. Why? Its a good one. Bitcoin allows you to be your own bank. Avoid those financial institutions. Get your money directly.

True real life bank line.

So Bitcoin offers these great benefits, because we all hate banks. Bitcoin allows you to get money directly to your wallet. However, there’s a problem: a number of the Wordpress payment gateways don’t go directly to your wallet. That’s why you have to be careful with who you choose. Blockonomics is one that goes directly to your wallet.

2. Less prone to hacks of payment gateway wallets: Following along the lines of above, a direct to wallet payment gateway means there’s less worry about hacks. If the payment goes directly to your wallet, and you keep your wallet safe, there is no worry about hacking. Meanwhile, a lot of payment solutions keep the bitcoin in a central area, which means they are a tempting target. Wouldn’t you want large numbers of Bitcoin easy?

Live footage of someone hacking Bitcoin

3. Save money on transaction fees: If you get a direct to wallet payment solution, transactions fees are minimal. Compared to websites like Bitpay, services like Blockonomics has a better fee structure based on sales, not transaction fees. I like saving money, don’t you?

4. Use whatever wallet you want: Direct to wallet payment services offer great flexibility, which is exactly what Bitcoin is supposed to support. You can choose whatever wallet you want, though its a good idea to research for safe wallets. I use Copay, for example.

5. Direct to fiat can be unsafe: Let’s be honest, yeah, its easier to get a payment solution that directly converts Bitcoin to fiat. You get USD right into your pocket. Its not safe though! Such payment solutions are prone to hacks, and your Bitcoin and fiat are still being held by a middle man. Plus, don’t you want to get in on the future? Hold that Bitcoin.

As I mentioned at the beginning, there is a wallet that hits all these points, it’s Blockonomics. It allows you to be your own bank, by sending the Bitcoin directly to your wallet. Hence, you don’t have to worry about a middle man holding onto the money. Blockonomics facilitates the transaction, but it doesn’t hold onto the Bitcoin itself. Disclaimer, I work for them. But they truly do offer the safest answer to start making bunches of Bitcoin on Wordpress. Happy selling!

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