August 1st, 2013 - Zap5 Networks begins accepting BitCoins, the peer-to-peer digital currency, as payment for web hosting services.
Currently Zap5 Networks is accepting Bitcoins for shared web hosting packages only. All VPS, dedicated servers, and other services are not available on Bitcoins at this time, however plans to accept Bitcoins for these services in the future are expected.
An increasing number of businesses, both online and offline, start accepting Bitcoin - a digital peer-to-peer currency based on cryptography - as a reaction to a growing interest in this digital currency. Joining a series of other companies that already process payments in Bitcoins, Zap5 Networks now accepts Bitcoin as a payment option in addition to PayPal.
In 2009, Bitcoin was launched as a digital currency, creating a way to send and receive money without a central bank. By removing the institutions at the center of banking and finance, Bitcoin effectively eliminates the large fees levied by these organizations on transfers. The appeal of Bitcoin has led to significant growth in this fledgling economy, with the monetary base of Bitcoin valued at more than $600 million and more companies offering Bitcoin payment options.
Zap5 Networks is now one of the few web hosting providers to support Bitcoin payments, allowing those customers that use bitcoins to pay for their services securely, directly from their wallets.