Bitcoin (you will also see it written as BTC) is a new form of digital payment (cryptocurrency) that was created in 2008. Bitcoin proposes a virtual transaction where money could be exchanged without then need for an intermediary.
In 2008, a programmer using the pseudonym "Satoshi Nakamoto", wrote a white paper (the rule book on which Bitcoin resides and the first description of blockchain) named "A Peer-to-Peer Electronic Cash System". The blockchain enables Bitcoin or any other cryptocurrency to work like any normal currency but without the need for any central bank or a third party. Unlike normal currency (USD,EUR) or others, Bitcoin is a decentralized currency, where no bank or any central authority can govern over it. Bitcoins are controlled by a peer-to-peer network of nodes/users that verify the transactions and store them in a public database called Blockchain.
The blockchain is a collection of blocks that contain transactions on a cryptocurrency network. Its a written log of any amount exchanged between two or more persons. Blocks include transactions and additional information that enables the network to verify the validity of the block.
Why should you accept Bitcoin payments?
Litepay.ch allows you to accept payments on your website using the most popular crypto currencies, including Bitcoin (BTC).
To integrate our payment gateway on your site, you can choose:
Since we're dealing only in crypto, verification is not required.