Gaming Broadband Now Accept Cryptocurrency Payments
Cryptocurrency has probably been the most googled searched term over the past 12 months.
Most commonly known through the currency Bitcoin, you’ve likely seen the term cryptocurrency plastered across news headlines and your social media timelines.
The medium of exchange has created waves of interest within the economy, to the point where we can no longer consider this as a futuristic ‘Cyberpunk-like’ concept, it is here. Right now.
As a modern-day company, that was founded on the grounds to resonate with gamers and fellow-tech lovers across the world, Gaming Broadband is delighted to announce that we will now be taking cryptocurrency as a payment method, for all our services.
Please see below for which cryptocurrencies we accept.
What Is Cryptocurrency?
Society may now be familiarised with the term cryptocurrency, but what exactly is it? We could spend hours delving into the subject, explaining the endless positives of this new form of currency, but instead, we’ve broken down the basics for you.
Cryptocurrency, in a nutshell, is an online currency, designed to move away from our traditional forms of payment. At present, the banks and government have ownership over our money, taking transaction fees on payments and third-party organisations storing our cash. Cryptocurrency has been designed to revolutionise this system, bypassing the unnecessary middle man.
This is where the term ‘decentralise’ emerges, a word that has become synonymous with the digitalised currency. As cryptocurrency is stored online, each individual possesses their own coin records, tracking all their transactions. This data can be viewed by the public, offering full transparency when it comes to government spending, company investments, stock trading etc.
Electronic cash essentially removes the need for a central body ‘owning’ your money, liberating the economy and bringing the world together under one main form of currency.
It’s certainly a lot to take in, but we hope this clears up somewhat, what cryptocurrency actually is. So, that’s the main concept covered, but types of currencies are there? There’s only one place to start.
What Is Bitcoin?
Bitcoin was the first type of cryptocurrency, created in 2008 by the presumed person or persons, Satoshi Nakamoto.
Each virtual coin holds its own unique address, to which the owner has access too. As alluded to above, every transaction used with Bitcoin is record and stored in a blockchain – a public ledger which is compromised of a chain of blocks.
Essentially, Bitcoin is the first modern alternative to the money we know of today. It was designed to offer each owner full control over their money, and its value has been soaring over the past two years.
The market is currently volatile, as the amount of Bitcoin is actually limited. In fact, there are only are only 21 million bitcoins in existence, of which 18.5 million have already been ‘mined’ and therefore found.
You’re most likely familiar with the obscene valuations flying around Bitcoin – at the time of writing, their market price is £27,000. In 2012, you could pick one up for £8. It’s no wonder that cryptocurrency is fast becoming a modern phenomenon.
Why is Bitcoin’s stock value soaring many of you may be asking? The roots for such an influx in price are rather simplistic – the digital monetary system was once perceived risky and untrustworthy, it’s now regarded by many as the future of the global economy. Investors have purchased mass volumes of cryptocurrency, creating a large demand on the market.
Which Cryptocurrencies Do We Accept?
Although Bitcoin has become synonymous with cryptocurrency, there are a variety of exchanges available.
Here at Gaming Broadband, we accept up to ten different currencies. Find them all listed below:
- Bitcoin, Bitcoin Cash and Bitcoin Gold
If you wish to use cryptocurrency as a method of payment, please email us or call us directly. Any payments made will be equal value to the monthly plan that you choose with us.