This post was originally published on June 20, 2017.
ExpressVPN began to accept Bitcoin payments in June 2014 with the help of payment processor Bitpay. It’s been an exciting journey marked by rapid growth and inherent privacy benefits.
Why ExpressVPN accepts Bitcoin
For a privacy-conscious VPN service, accepting an anonymous form of payment is a must. Other centralized, regulated payment providers rely on credit—a system built on collecting and verifying large amounts of personal data. However, with Bitcoin payments, you need only provide your email address.
While Bitcoin payments are not perfectly anonymous, they provide a significant privacy gain over established remittance methods. In the United States, gift cards offer an attractive alternative but are difficult for non-US providers to accept.
Apart from privacy, Bitcoin also offers interesting business opportunities. For example, it helps us provide VPN protection to individuals who can’t obtain a credit card. If you’re a relatively wealthy person from a Western country, this may seem far-fetched, but for people from certain countries, with certain credit scores, or for those who don’t have a place to call home (aka digital nomads), Bitcoin is a lifesaver.
At ExpressVPN, we believe everyone has the right to use the internet with security, privacy, and freedom – not just those with access to traditional payment methods.
The road paved with Bitcoin
Bitpay has been a very reliable partner with stable APIs and great support at desirable rates. Due to the anonymous nature and extra Bitcoin wallet security measures, fraud or chargebacks are not an issue, which makes handling Bitcoin payments very safe and efficient.
Year-on-year, Bitcoin transactions have increased by 250% and continue to grow.
Additionally, depending on your payment currency, Bitcoin may also be a way to lower forex fees. We advise you to research this for yourself and weigh any benefits with the volatile nature of holding Bitcoin.
Bitcoin and the future
Both in absolute terms and in relation to our total sales, we consider Bitcoin to be a rising star. Bitcoin should continue to scale through the development and adoption of payment networks like the Lightning Network—which will make it cheaper to send small amounts while increasing privacy, user experience, and potentially even opportunities for recurring payments.
Regardless of the ever-changing state of world finance and commerce, ExpressVPN is committed to privacy and service of the highest quality. Bitcoin is a pillar of this commitment, and we are proud to have been among the early adopters of this innovative and privacy-conscious solution.
Time, the unquenchable human entrepreneurial spirit, and technological advancement will reveal new and exciting developments in this space. We welcome them all!
How do you see the future of online payments? Is Bitcoin the future? Let us know in the comments below!