Crypto Payments
Our payments team are very proud to announce that we are now able to accept cryptocurrency payments through our webshop here at Ocean Footprint, we have been working hard to make our systems compatible with accepting cryptocurrency. It is a very exciting space and we wanted to be able to support this movement by selling goods using our website and store
What is Cryptocurrency?
Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets
Cryptocurrency received its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of encryption is to provide security and safety
The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the best known today. Much of the interest in cryptocurrencies is to trade for profit, with speculators at times driving prices skyward
How does cryptocurrency work?
Cryptocurrencies run on a distributed public ledger called blockchain, a record of all transactions updated and held by currency holders
Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated mathematical problems that generate coins. Users can also buy the currencies from brokers, then store and spend them using cryptographic wallets
If you own cryptocurrency, you don’t own anything tangible. What you own is a key that allows you to move a record or a unit of measure from one person to another without a trusted third party
Although Bitcoin has been around since 2009, cryptocurrencies and applications of blockchain technology are still emerging in financial terms, and more uses are expected in the future. Transactions including bonds, stocks, and other financial assets could eventually be traded using the technology
Security
We have chosen CryptocurrencyCheckout following extensive testing in order that we can integrate our store with your wallet. One of the deciding factors was that we wanted to be able to accept as many currencies as possible, but also be able to accept both Monero and Pirate Chain, as these cryptocurrencies are our choice for both security and privacy, especially Pirate Chain with its nautical theme
We are able to accept many more currencies, just reach out to us and we will look to adopt other currencies on request just visit our contact us page
Currencies accepted:
Bitcoin (BTC)
- Launched in 2009, Bitcoin is the world’s largest cryptocurrency by market capitalization
- Unlike fiat currency, Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system, known as a blockchain
- Bitcoin’s history as a store of value has been turbulent; it has gone through several cycles of boom and bust over its relatively short lifespan
- As the earliest virtual currency to meet widespread popularity and success, Bitcoin has inspired a host of other cryptocurrencies in its wake
Dash (Dash)
- Dash aims to become a medium for daily transactions as a digital currency that can be used as cash, credit card, or via PayPal
- In 2018, the digital cash company expanded into Venezuela, the cryptocurrency’s first foray into an economically-distressed country
- Dash is run by a subset of its users, which are called “masternodes.”
- All masternodes have a starting stake, which is equal to 1,000 DASH in their systems
Ethereum (ETH)
- Ethereum is a blockchain-based platform that is best known for its cryptocurrency, ETH
- The blockchain technology that powers Ethereum enables secure digital ledgers to be publicly created and maintained
- Bitcoin and Ethereum have many similarities but different long-term visions and limitations
- Ethereum is transitioning to an operational protocol that offers incentives to process transactions to those who own the largest amounts of ETH
Monero (XMR)
Pirate Chain (Arrr)
- Launched in 2018, Pirate Chain is a cryptocurrency with the primary goal of being the most private and secure digital currency, Arrr
- Pirate Chain achieves this by employing the strongest and most acclaimed privacy protocol in the industry, and couples this with an unassailable strategy implementation
- Pirate Chain is the first cryptocurrency to implement a mandatory, private-only usage of Zero Knowledge-Succinct Non-interactive Argument of Knowledge
- Delayed Proof of Work indexes Pirate’s blockchain onto Komodo’s and Litecoin’s blockchain. In so doing, any attempts to attack Pirate’s blockchain will first need to overcome both these blockchains, which is prohibitively costly and virtually impossible
- Like Bitcoin, Pirate Chain is open source and created from decentralized, grass-roots development