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Plus Plus Tutoring now accepts Bitcoin and Litecoin transactions
Plus Plus Tutoring became one of the first tutoring services to accept Bitcoin and Litecoin transactions. Bitcoin and Litecoin are a peer-to-peer, electronic cash system.
Bitcoin and Litecoin transactions are faster than cash and check in mail, have very few transaction fees compared to Google Checkout, Paypal, and other merchant services. One can simply send Bitcoins and Litecoins by typing in an address and clicking send.
Some may say that the Bitcoin is not stable. On the other hand, the price of Bitcoin grew from $10 under a year ago to $122.80 today. The price of Litecoin is currently at $2.92962.
One may currently purchase Bitcoins at Coinbase, MtGox, BTC-E, Bitstamp, and directly from individuals. Litecoins are also available from BTC-E.
A company called bitpay released a Bitcoin based payment processor. Other services such as BIPS, BitMerch, OKPAY, Paysius, and WalletBit offer similar services.
If one chooses to use Bitcoin or Litecoin, he should find a safe wallet to store them in. There have been instances of Bitcoin wallets getting hacked. Unlike credit card transactions, Bitcoin transactions are not reversible. One should never buy Bitcoins with Paypal or a credit card.
Plus Plus Tutoring will allow clients to pay with Bitcoin and Litecoin upon request. Clients will need to message Plus Plus Tutoring indicating that they would wish to pay using Bitcoin or Litecoin. Due to AML regulations, Plus Plus Tutoring will require clients to provide a scanned copy of their legal identification, and date of birth. Plus Plus Tutoring is also allowing tutors and other employees and contractors to be paid with Bitcoin and Litecoin. They would also need to contact Plus Plus Tutoring with a special request. Eventually, Plus Plus Tutoring plans to have an automated Bitcoin payment system.