There are many different companies and service providers around the world who are keeping an eye on Bitcoin and digital currency. Bitcoinside is one of those companies looking to make it easier to convert Bitcoin to more convenient payment methods, such as PayPal, Western Union, and other forms of settlement in fiat currency.
Services like these will stand or fall depending on how many countries they support. Bitcoinside seems to check all of the boxes in this regard, as over 120 countries are supported at the time of publication. This allows consumers from these countries to accept Bitcoin payments and have it converted to local currency once the transaction reaches 6 network confirmations.
Accepting Bitcoin payments is relatively easy, thanks to the Bitcoinside API. Offering such a tool will remove any of the hurdles associated with accepting digital currency payments, as the entire process is simple and straightforward. For those users not looking to use an API, Bitcoin addresses can be generated by using the platform’s dashboard and a few mouse clicks.
Withdrawing Bitcoin to fiat currency is quite a hassle fro a lot of people as well, something which Bitcoinside aims to address as well. Al of their services are offered while keeping the associated fees relatively low. A complete list of fees can be found on their website, as they will depend on the payment platform used.
Users can also earn small amounts of Bitcoin by referring people to the Bitcoinside platform. Registration of new users, as well as verification of their account, and referrals making deposits will all earn rewards, ranging from US$0.05 to US$25. Referrals will also earn a 5% cashback from their first withdrawal.
Based on the statistics provided by the Bitcoinside website, the company has handled over 1,500 transactions worth over 10 Bitcoin. It is hard to verify whether or not these numbers are completely true, Unfortunately, there is no company information on the website or in the WHOIS records.