Bitcoin payment processor network

Bitcoin Payment Processor

A network of communicating nodes running Bitcoin software maintains the blockchain. Bitcoin is a decentralized electronic payment system and on open-source digital currency created in 2009 by Satochi Nakamoto, to ensure the protection of investments and the free financing by business without calling on financial institutions and outside any constraints and regulations. It is implemented as a chain of blocks, each block containing a hash of the previous block up to the genesis block of the chain. Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Transactions of the form payer X sends Y Bitcoins to payee Z are broadcast to this network using readily available software applications. The Bitcoin blockchain is a public ledger that records Bitcoin transactions.

What you get in return is convenience, security and the ability to pay anywhere in the world with one single mode of payment which in this example is the credit card. For example, a payment processor processes a credit card transaction and a company gets paid minus the processing fee shared between the credit card company and the processor. A Bitcoin payment processor is a company that authorizes payments on behalf of individuals to companies.

Manually-readable addresses are random 33-character long numbers and letters, always starting with 1, eg 175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W. Public keys or Bitcoin addresses function as the endpoint for receiving all payments. Addresses contain no information about their holder are generally anonymous. Creating one-time addresses helps maintain user anonymity. Bitcoin users can hold multiple addresses, and can actually generate new addresses without any practical limits, because generating a new address requires relatively little computational power, equivalent to generating a pair of public / private keys, and requires no contact with any node in the network. Any person participating in the Bitcoin network has a wallet containing an arbitrary number of cryptographic key pairs.

Most of the time, the purchase is done by PayPal, credit card (instantly) or by bank transfer (24 / 72h). Simply select a service, register, and then purchase the virtual currencies you want. You will then be able to manage your investments independently. You must first go to a Bitcoin payment processor that will exchange your euros for Bitcoins or other crypto-currencies. The crypto-currencies like Bitcoin attract more and more interest, thanks to their unique technology called Blockchain.

We have a solution for that and offer such services with an emphasis on anonymity. Why to choose a Bitcoin payment processor ? Is easy, we don't ask you any personal data and you don't need to do any account. You could make a Bitcoin payment for everything you want in just few minutes. Are you tired of using Bitcoin/Litecoin payment gateways and processors that require verification, signup for service or keep logs? LitePay platform allows website owners, developers and merchants to accept Bitcoin and Litecoin easily without the need of submitting any kind of identifiable personal information.

Share this post