A Newer Way to Obtain Bitcoin: Using a Secured Loan Service for an Immediate Transaction

A lot of people are still only vaguely aware of what the alternative currency known as Bitcoin is all about. They find the concept intriguing, but have no idea where they would get any or how they could spend it. These individuals might like to do some reading on a website such as an xcoins.io review, where they can find out how to buy Bitcoin with a credit card and use the currency on the Internet.

This type of service is still a bit unusual, although there are other ways to purchase the Internet currency with government-issued money. The main way people do this is to offer acquaintances cash for Bitcoin. Normally, people obtain Bitcoin by offering goods and services in return for this kind of payment. They also can obtain it by winning games online.

A service like xcoins is essentially a secured loan instead of a direct exchange because there is a lending fee involved, but the transaction takes place rapidly. The customer accepts a loan of Bitcoins and then pays off the loan with a credit card or with Paypal. The service acts as a middleman between the lending company and the customer. People commonly choose this service because they want to get the alternative currency almost immediately instead of having to wait. There are online exchange services, but they generally take a few days for the transaction to process, and they also typically only accept bank transfers instead of credit cards or Paypal.

Many people still view this alternative currency as somewhat of a fringe element, but the idea has caught on and is increasing in popularity. One primary advantage is that the currency is equalized around the globe and there are no exchange rates to figure out and consider. Another is privacy. When using government-issued currency in any form online, the transactions can be tracked. That includes making payments from checking accounts, through payment services like Paypal, or with debit or credit cards. Credit and debit card issuers routinely charge fees to recipients of payments when purchasers use these cards. Not all purchasers are entirely comfortable with this business model.