Independent webcam models use many different online payment systems. All online payment systems have the same underlying transaction platform in common; they are built on top of the legacy banking system. Let us introduce you to Bitcoin, a payment system and currency that reinvents the payment system in a very different way.
Being a webcam model can come with a lot of battles for making a living. One such battle is with the government. In Operation Choke Point, for example, the US government has been pressuring US banks to close accounts based on the owner’s job. The adult industry is one of this operation’s targets, and it shows that even if you follow every law, the government will still try to be your moral compass. Bitcoin was founded in 2009 and is completely decentralized, meaning that no third party can control it. This is one of the very powerful strengths of Bitcoin – putting you in control of your money.
No entity or person can shut down or take your bitcoins. Bitcoin is borderless.
There are many myths about bitcoins; one of the biggest myths is that they are anonymous. This is very much false, and Bitcoin makes a very bad payment system to buy illegal goods. The ledger, which is also known as the “Blockchain,” is completely public, which allows bitcoin to be decentralized. It also makes it very easy for people to track bitcoins. With less than $2,000 you can track every Bitcoin client and the transactions they are sending.
The internet is a global commerce platform, yet dollars and other payment networks are far from being global. Many take huge amounts of fees just to send value from one place to another. Bitcoin solves this by being purely peer to peer. Think of it as a middle currency that can be exchanged for any other currency with little to no fees. It only takes a few cents to send any amount to any person. In Bitcoin history, there was a transaction for $10,000,000 and it was sent for free. It is unlikely that any platform using the legacy banking systems can provide these features.
One problem with Bitcoin is that there is no insurance or FDIC (Federal Deposit Insurance Corporation) program. That means if you lose your private key or hackers gain access to your wallet, you can’t reverse those transactions to get them back. It is a downfall for people that don’t want to take time to learn about the proper security or want to trust third parties with their bitcoins. These concerns are addressed with better security in the bitcoin community, which allow services to build trust over time and to take advantage of these security protocols.
Our last, but not least important, feature of bitcoin is the prevention of fraud and chargebacks. Credit cards were invented before the internet and now we are seeing how they just don’t work on the internet platform. At any time within 90 days from the purchase the buyer can issue a chargeback, leaving the service on the other end with no money after delivering their side of the transaction. Bitcoin prevents this by making every transaction final.
Between not having third parties being able to take your bitcoins, being peer to peer with anyone on the globe, no chargebacks and no fraud, Bitcoin makes an excellent payment option for independent webcam models. We are just highlighting a few of the beneficial features here. If this article inspired you to learn more about bitcoins or even to try to earn them, visit us anytime at GoSeeMyBits.com.