The owners of Backpage aren’t afraid to try something new. It makes sense that classified advertising for New York escort owners and contains a section for listing “adult entertainment” services by becoming the first Bitcoin adult website in New York City.
While there is no Bitcoin signage up in adult website currently advertising the new payment system, word is quickly spreading. More than hundred customers paid in Bitcoins within 24 hours of the system going live.
As an escort service reporter, I think adult service website should accept Bitcoin for goods and services, and I wish to accept Bitcoin as another legal way to pay, and that you intend to pay taxes on your Bitcoin income just like any other income. Many small escort business owners wonder what’s the right way to accept and account Bitcoin, or if it’s legal or ethical, or whether and how they should pay taxes on income received through Bitcoin.
What is a Bitcoin?
A bitcoin is unique piece of code that can be sent and received electronically over a computer network, a virtual note if you like. Bitcoins are stored in a “wallet”, which is basically a unique address(made up of a number of random characters) that acts as your account to receive or send coins from.
When a bitcoin is sent to an address the transaction is recorded on the ‘accounts book” known as the block chain.
Where can I buy Bitcoins?
You can buy bitcoins at various online exchanges, depending on your location.
Localbitcoins is an easy place to start, although you may pay a little above the going trade rate (much the same you do at travel exchanges). You can buy via a bank transfer or buy in cash, either way be aware you are buying off individual traders so check their trust rating.
Other sites are appearing weekly, as the phenomenon grows.
Why is it particularly useful in the escort industry?
1.Bitcoins are anonymous ways of paying for a service without the need of large wads of cash, so clients may prefer to use this method
2.A Bitcoin payment can be used as a non-refundable deposit. Unlike credit cards payments can can be charged back.
3.There are no adult restrictions in sending and receiving payments and no ties to your name and address.
4.Fast and easy transactions (once you have set up your account) with no third party charges (i.e.no cc charge 3-10%)
Merchants benefit since there are no chargebacks: If you spend a bitcoin, the transaction cannot be reversed due to unauthorized fraudulent spending unless the merchant decides to send it back to the purchaser. Transactions are verified by the bitcoin system within an hour, and merchants do not need to collect sensitive personal information from users. Therefore, Backpage Accepting Bitcoins could be a good way of payment for NYC escorts without local cops.
Benefits for Merchants
Not only do consumers enjoy spending their Bitcoins, merchants appreciate their advantages, as well. some of the business benefits, saying, “It’s way quicker than credit card processing. It’s a way smaller fee … credit card processing, they usually charge 3 to 5 percent. Bitcoin, it’s 1 to 2 percent … and the best part about it is there’s no such thing as chargeback for Bitcoins. Because Bitcoins, they’re like digital cash.”
Finally, we should join a new digital economy that doesn’t leave anyone behind, essentially making clients more safe, more convenience, more private and more happy.