The early months of 2017 have been a very interesting time for Bitcoin. On January 2nd, Bitcoin maintained a value of $1,000 USD for the first time and only 5 months later it set its current record value of over $3,000. For a cryptocurrency that was worth only 25 cents per coin in 2010, this radical rate of growth has kept investors on the edge of their seats.
At the start of 2017, the global cryptocurrency market cap, that is, the total value of all cryptocurrencies like Bitcoin and Litecoin, was just under $18 billion USD. This was already a very promising increase from just $7.1 billion the year before. Compared to what was about to come however, even that increase seems minuscule.
Bitcoin has a scaling problem. When the cryptocurrency software launched in 2009, the nature of the blockchain technology on which it was built meant that there was a hard cap on the total amount of transactions that could be processed in a given amount of time. In the past eight years, the basic technology hasn't really changed
In Payza's latest Bitcoin update, the company announced that members can now hold Bitcoin right in their Payza e-wallets. This has a big impact on merchants who want to be able to accept payments in Bitcoin and traditional fiat currencies. It's also exciting news for businesses who need to make Bitcoin payouts to their affiliates.
The new Bitcoin services from Payza have generated a lot of interest and many of our members have already begun testing these features out for themselves. Here at Payza, our goal is to let you pay or get paid your way. No matter where you are in the world, there are a number of different ways to send and receive money via Payza.
Payza was among the first online payment processors and e-wallet providers to embrace Bitcoin by letting members buy and sell Bitcoin directly. Today, Payza is unveiling a wide range of new Bitcoin options, including the ability to hold Bitcoin right in your Payza account.
After the global financial crisis hit in 2008, people around the world saw their faith in the financial system shaken. Bitcoin emerged in January 2009 seemingly as a direct in response to this crisis, although the history of cryptocurrencies runs far deeper.
It's telling that one of the most popular colloquial terms for a cryptocurrency is "altcoin", a portmanteau of "alternative" and "bitcoin". Bitcoin, the original cryptocurrency, has become so ubiquitous that it is the definition of its own category.