Are Bitcoins Really the Currency of the Future?

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Due to the publicity it has received a while ago, now everyone knows about it – and it is starting to make its way into our everyday lives in an increasing measure.

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The latest step toward the cryptocurrency becoming an actual (fiat) currency comes from online payments processor Optimal Payments – the company that operates the popular e-wallet Neteller. The company has announced its deal with BitPay Inc., one of the largest Bitcoin payment processors of the world, which will allow it to top up their accounts using the cryptocurrency.
“Neteller already provides merchants and customers a broad and diverse set of online payment options and the addition of Bitcoin gives them another valuable payment method to help convert more transactions. We recognise the important role that crypto-currencies play in the future of payments and we look forward to working with BitPay as the acceptance rate grows,” Joel Leonoff, president and CEO, Optimal Payments commented on the deal.
Topping up your Neteller account using Bitcoins does not sound like such a good thing until you give it some more thought. Let’s see how the payment service works to see how its Bitcoin acceptance can help transform it into fiat currency.
Neteller is basically an electronic wallet, serving as a means to initiate and receive instant payments online. The user can also request a Neteller prepaid debit card, one that can be used for paying for merchandise or to withdraw money from ATMs worldwide. The funds on the card are supplied by the user’s Neteller account, accessible from any device with an internet connection. Users topping up their Neteller accounts with Bitcoins can instantly exchange them into fiat currency, transfer them to their prepaid plastic card and start spending them at merchants or service providers – quickly and easily. This way Bitcoins are transformed in usable funds, or even cash, in a very short time.
Optimal Payments’ collaboration with BitPay will allow merchants and service providers (like party gamble casino great online gambling) to mitigate the risk of price volatility by transforming Bitcoins into the currency of their choice quickly, easily, and for an affordable processing fee. The deal brings Bitcoin’s global acceptance one step closer.
Optimal Payments is one of the largest global provider of online payment solutions, and it is still expanding – last month it has initiated the acquisition of Skrill Group, one of the most popular payment service providers in Europe. Once this deal is finalized, Optimal will likely introduce the same services for Skrill (formerly Moneybookers) that it currently offers to its own Neteller users, bringing easy Bitcoin transactions to all its users.