10 Jan '13, 4am

BitPay Banks $510K In Investment To Become PayPal For Bitcoin

BitPay Banks $510K In Investment To Become PayPal For Bitcoin

What makes Bitcoin so interesting is that it flies in the face of payment models that we’re used to today; it’s a push model rather than a pull one. When you give a website your credit card and billing information to buy something, the company is pulling money out of your account. Giving up that personal information isn’t the safest thing, and Bitcoin allows you to “push” the money to a company to buy something. This means that no personally identifiable information goes with it, making eventual identity theft and fraud nearly impossible during the transaction.

Full article: http://libertycrier.com/business/bitpay-banks-510k-in-inv...

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