The Revolution of Online Payment
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CRYPTOCURRENCY MAY JUST BE THE REVOLUTION OF OUR TIME…
Cryptocurrency is becoming more and more well-known as an accepted form of currency in our modern world. With Bitcoin reaching all-time highs just over the past few weeks (2020 – 2021), we are witnessing another revolutionary potential for our monetary system. What is cryptocurrency, and why is it so important that more businesses start accepting it as a form of payment?
Cryptocurrency is a decentralized form of payment that is intrinsically encrypted, making it generally much safer to own and have full control of your resources, compared to money kept in a bank. Let me break that down a bit. A currency that is decentralized peer-to-peer financial system which is has some independence of the current fiat money system – Bitcoin and other cryptocurrencys cannot be effectively controlled by centralized systems.
In the fiat money system, banks and printers of money have control over the (fiat) money of the world. They print out paper currency, which are not backed by gold – meaning that they do not have any true inherent value, but carry only value through the collective agreement that the dollar is a valuable exchange for monetary debt.
The value of the money within this system is determined by those who have control over printing the money, which continues to greatly inflate without a ceiling insight. Cryptocurrency does not depend on a government, bank, or other institution to control it. It may prove to be a digital currency by the people, for the people.
If you open a bank account within a traditional fiat money system, your money is ultimately in the hands of the bank or centralized power. Authority outside your own can decide to completely take your money away from you, or lock you from your banking account. With cryptocurrency, this cannot happen. Your keys to your own personal bank (this includes the GREAT responsibility!). Here is a great article that helps break down this idea of decentralization a bit: Source.
Encryption is another important differentiation between the current financial system and cryptocurrency. When you buy a bitcoin or other altcoin (any cryptocurrency that is not a bitcoin) there is a mechanism of safety installed within the internal coding system of blockchain which makes the public transactions, anonymous – Certain “privacy coins” such as Monero, are considered impossible for anyone to track based on their protocol and intrinsic programming. Yes, having your cryptocurrency held within a website application (like the well-known Coinbase) is not fully anonymous, because your personal information is still tied to your crypto to some extent, but the purchases are not as trackable due to the encrypted component built into the software. If you want full security and sovereignty over your cryptocurrency, a great way to store your money is to export your currency into an external wallet (like the Trezor wallet) then your money is not in the ‘hands’ of anyone but you. It’s important to note, with cryptocurrency, there is a risk to lose access to your money. Examples of this would be to forget your passwords, lose your back-up storage key and even to send your cryptocurrency to the wrong address – this is NON-reversible loss and some of the largest risks for losing access to your coins.
A UNIQUE WAY TO PAY THAT KEEPS MONEY IN THE HANDS OF THE PEOPLE
Essential Oil Wizardry has been taking cryptocurrency as a legitimate form of payment since 2017. By giving this option to our customers, we are embracing this revolution for the people by allowing a less regulated form of currency to purchase our products. In many ways, this gives our community a more secure and reliable way to pay. We hope to see more and more companies out there begin to accept cryptocurrency as a valid form of payment, because we as free people of the free market deserve to feel completely safe making our purchases. By supporting bitcoin and altcoin payments, we are voting to bring the money back into the hands of the people, where it rightfully belongs.
Did you know there are hundreds of stores which accept cryptocurrency as a form of payment? See www.SpendABit.co as a great source of vendors whom accept digital currency for real life goods.
To use your cryptocurrency as a form of payment on EssentialOilWizardry.com, just check-out on our website as you would a normal purchase and choose ‘CoinPayments.net’ as your form of payment. Here you will find the option to finish your transaction using bitcoin as well as a wide variety of altcoin payment methods, for a safe, secure, and revolutionary way to pay. You will access your storage wallet, enter our payment details (wallet address, coin amount) carefully using the copy / paste functions, and your transaction will be sent to our team for fulfillment.
We hope to see this novel expression of societal exchange become more popular 2021 and beyond as another option to free and support humanity!