Affiliate Programs with a Payment Method of Bitcoin

Bitcoin was the first cryptocurrency to be developed. Its first block was mined in 2009, and since then it has grown to be the leading cryptocurrency in the world. It is mostly known as a digital asset. However, it is also gaining popularity as a payment method.

Over the years, people have depended on the traditional digital payment systems which are linked to banks and the banks are controlled from a central location referred to as the central bank. Bitcoin came as a game changer considering that it uses cryptography to regulate its management and it is also decentralized.

Despite its previous condemnation by central governments and organizations, people are slowly embracing it with most business entities organizations allowing its customers to use it as a payment option.

How to transfer/withdraw funds using Bitcoin

As a cryptocurrency Bitcoin uses blockchain network. Majority of e-commerce platforms including most financial brokers and affiliate programs have installed plugins from their payment processors that accept Bitcoin or any other cryptocurrency as a payment method.

To transfer funds using Bitcoin, you will require to have a Bitcoin Wallet.

A Bitcoin wallet is a software that is programmed to enable Bitcoin blockchain network users to store their public and private keys, and it also keeps a record of the transactions. The wallet enables the users to send and receive Bitcoins.

There are several cryptocurrency wallets which are compatible with Bitcoin. Examples of such crypto wallets include Ledger Nano S, TREZOR, KeepKey, GreenAddress, Samourai Wallet, Mycelium, breadwallet, and Bitcoin Wallet among several others.

Any cryptocurrency wallet has private and public keys. The private key is for the security of your wallet while the public key, which is also referred to as a public address, is used when doing transactions. You will have to provide your public key for someone to send you Bitcoins into your Bitcoin wallet.

Therefore, when using the Bitcoin payment method, you will have to provide the public address of your Bitcoin wallet for you to withdraw funds into your Bitcoin wallet.

When withdrawing funds using Bitcoin Payment method, your funds are converted into Bitcoins so that they can be stored into the Bitcoin wallet. If you want to convert them into your local currency, you look for fiat-crypto exchange platform and exchange the Bitcoins for your local currency which you can then send to your bank account.

In some cases, some wallets allow you to withdraw Bitcoins directly into your bank. However, your bank has to accept the Bitcoin since it converts them into your local currency for you and deposits money in the form of your local currency into your bank account.

Why withdraw using Bitcoin?

Due to the cryptography technology, Bitcoin is very secure. In addition, it is decentralized.

Also, compared to the traditional payment methods, Bitcoin payment method is far much faster, since the transactions take an average of 7 minutes, while the best a traditional payment method can do is 24 hours.

Bitcoin transactions fees are also relatively low.

Is Bitcoin Payment Method Right for me?

To use Bitcoin Payment Method, there are a number of factors that you have to consider.

First, you will have to confirm if the broker or affiliate program provides Bitcoin as a payment option.

Then, you will have to have a Bitcoin wallet.

If all the above are met. Then you will have to consider the speed and cost of transactions so as to ensure that Bitcoin is the best option that the broker or affiliate offers.