Multibit - Multi BIT

You spend money online every month. You probably have a payment card that is linked to accounts with online merchants. This causes some problems for you without you being directly aware of them.

• First, you must ensure that you don't miss paying off your payment card in full at the end of each month or you will incur an interest fee. Some payment cards will charge you a monthly fee just for using them.
• Second, the details of all your purchases on those credit cards are shared back to the credit card companies. They carefully track every purchase you make. Over time your spending habits allow these companies to profile you and sell your profile to other companies. That is more junk mail for you.
• Third, your merchant is forced to pay the payment card companies a significant amount of their profit in transaction fees and equipment rental fees. You may not think this is your problem, but the merchant must pass on those additional costs to you in order for them to stay in business. You pay more because you must use a payment card online.
• Fourth, let us hope that scammers do not steal your credit card details from the merchants and payment processors. If they do, that is more headaches for you.

Bitcoin is different. It is money, reinvented.

You purchase bitcoins on an exchange (more about that later) and then spend them online using your smartphone, tablet or computer. A Bitcoin transaction is private between you and the merchant. No-one else knows what you purchased, or where. The merchant will typically provide you with a Bitcoin link or QR code which looks like this

Please donate to Bitcoin

All you need to do is click on the link or image and MultiBit starts up and fills out the details. You then click send and confirm that you are happy with the purchase. Start using Bitcoin and you will want to throw away your clumsy credit cards.

More things you can do with Bitcoin and MultiBit:

• Install a bitcoin wallet on your smartphone - you can scan the QR code and it will fill out the purchase details on your phone.
• If you are a blogger, why not accept Bitcoin donations with a single click ?
  
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