Keats Insurance Agency, Inc. Review

Keats Insurance Agency, Inc. Review

Keats Insurance Agency, Inc. Review


In this Keats Insurance Agency, Inc. Review, we are talking about an Insurance company that is in Floral Park, NY. They have several branches, but they are based in the state of New York. Keats Insurance Agency, Inc. has been servicing the Floral Park community for over 20 years. Keats Insurance Agency, Inc. is an award winning and nationally recognized insurance services firm built on integrity, personal care and experience.

This Keats Insurance Agency, Inc. Review is part of our attempt to really expand the and diversify the content on the CFRB. We are actively seeking companies that are outside our home state to review. We heard some good things about Keats Insurance Agency, Inc. So, we thought we would put them through the ringer to see if they are CFRB quality.

Keats Insurance Agency, Inc. currently is in good standing with the Better Business Bureau. They hold an A+ rating and an accreditation from them. Both of which are difficult to achieve. There’s a lot of hoops you must jump through to attain such an accreditation. So, the fact they achieved one and have maintained their status is quite impressive and should be noted.


Keats Insurance Agency Review: Services

In terms of the services they offer, It’s pretty straight forward. They offer the services that you would find at almost any other insurance company, but also a few things that not many places offer. They can help you out if you require things like Auto Insurance, Life Insurance, Homeowners Insurance or Business Insurance. They could also help you out with Power Sports Insurance, Car Wash Insurance, Coastal Home Insurance, and few other things. So, it’s a conventional insurance company that has a few extras here and there. Which is kind of cool. They are sort of differentiating themselves from the competition.


Keats Insurance Agency Review: Credibility

Like I mentioned before, Keats Insurance Agency, Inc. Review has received tremendous accolades from some very credible sources, but in writing this Keats Insurance Agency Review I did notice something a bit odd. Their website really isn’t the focal point in terms of their online presence. When following the link the BBB provided, I was taken to a third-party site that seems to host many different companies. Each has their own individual profile. It’s sort of like they took everything that you would put on a website and condensed it to fit a profile. I found it a bit odd, but nothing to be alarmed about. I’d imagine that everything on that profile page is can be read in detail on their actual website.



Keats Insurance Agency Review: Consumer Testimonials

The consumer testimonials I found while writing this Keats Insurance Agency, Inc. Review were from the site that is hosting the company. I am always sort of weary when the only consumer testimonials come from a source that is so directly tied to the company. So, keep that in mind when considering Keats Insurance Agency, Inc. Here is the first testimonial:

“I’ve been working with Carmen over the past year and have had a few challenges to overcome as my situation was not typical. Despite several hurdles that were presented, she could get me the policy I needed with very fair pricing and has always been pleasant and professional to work with. I truly feel like she always had my best interest at heart. I should also mention that they were recommended to me by my family attorney who also said great things about them. Highly recommended…. don’t bother looking any further. I doubt you will find better service!”

Here is another testimonial:

“This Agency and my Agent Eric were wonderful to deal with and I am so happy to have met him. Eric went through my entire portfolio of policies. He did not just ask what I had and gave a quote. His complete review and easy to understand explanations made me understand my policies better than ever before. The best thing that happened was after I changed all my coverages to him. I knew I made the right decision. I am not pay less for my coverage’s, I am getting more value for the coverage’s I need. I will be recommending every person I know.”

I don’t usually include a third, but I felt that I should. This one is negative feedback:

“I have been with the Keats agency for several years for my homeowner’s policy. I customarily do not have to contact them. In my line of work, mortgages, I had to contact them for questions and changes to one of my customers’ accounts. The first woman I dealt with was beyond rude, she had me on hold for over 5 minutes and then disconnected my call. When I called back, she didn’t even apologize. Because of the experience I had, I will be switching to a different agent. It was absurd. This review has no reflection of my actual agent Pete mellides as he is great, but I cannot stay with an agency where the staff is so rude and unaccommodating.”

This is a perfect example of reasonable negative feedback. He recognizes that the issue is not the company, but the employee he dealt with. So hopefully the company corrected that because the employees represent the company. And it would be a shame to have employees like that attached to such a good name.


Keats Insurance Agency Review: Conclusion

In this Keats Insurance Agency, Inc. Review we are giving Keats Insurance Agency, Inc. 4.5 Stars. Let us know in the comment sections below what your thoughts are, or if you have any questions. Check Our Reviews page for more insight into trusted companies.




Freeman Webb, Inc. Review

Freeman Webb, Inc. Review

Freeman Webb, Inc. Review

In this Freeman Webb, Inc. Review, I want to talk about a Real Estate company located in the Nashville, TN. Freeman Webb, Inc. specializes in acquiring, managing, and renovating residential and commercial properties. The Portfolio that Freeman Webb, Inc. has included over 11 million square feet of commercial and residential property. Freeman Webb, Inc. opened their doors in 1979. Since then they have grown to become a full-service real estate firm with hundreds of associates.

Freeman Webb, Inc. is recognized as an Accredited Management Organization (AMO) by the Institute of Real Estate Management (IREM, BOMA). They also hold an A+ rating with the BBB along with an official accreditation. Not too shabby, if you ask me.


Freeman Webb, Inc. Review: Services Provided

In writing this Freeman Webb, Inc. Review, we found that Freeman Webb, Inc. has a wide variety of services to meet your needs, but they are not spread too thin. They really have taken the time to specialize in their services and build up credibility in their region. Here’s some basic info about the services they offer.

Property Management:

In this Freeman Webb, Inc. Review, we found that Freeman Webb, Inc. manages 15,000 residential units and commercial properties that come out to about 1,000,000 square feet.

They are experts in their field. With that many residential units under their belt, you must be nothing short of the best. Freeman Webb, Inc. truly cares about the quality of your residence. They don’t just want to find you a place to live. They want to find you a home. A place where you’ll feel safe at night. A place where you’ll make memories that will last a lifetime.

Freeman Webb, Inc. can also help you out with your commercial Real Estate needs. Freeman Webb, Inc. specializes in both Office and Retail investment properties.


Freeman Webb, Inc. is a leading expert when it comes to investments. It doesn’t matter if you need help renovating 200 units or managing your portfolio, Freeman Webb, Inc. can get the job done with incredible returns that will speak for themselves.

I highly recommend using Freeman Webb, Inc. if you are an investor looking to get some diversification into the real estate market. If you are a property owner, Freeman Webb, Inc. wants you to get the best help you can possibly get. They encourage property owners to shop around and look at the reputations of others. In doing so, they guarantee you’ll see why so many people are going over to Freeman Webb, Inc. Whether you are looking for residential real estate, commercial real estate, or to invest. Freeman Webb, Inc. is like a one stop shop for it all.


Freeman Webb, Inc. Review: Track Record

One of the reasons I decided to write this Freeman Webb, Inc. Review is because of their track record. In doing my research there is a healthy amount of feedback from consumers online. Most of the feedback was positive, and some negative. Though the negative feedback was addressed by the company. That’s a huge plus if you ask me. It shows that a company has some integrity. It says that they still believe that having an open honest discussion leads to growth and a greater way of doing business. They have been in Business for 38 years, and they have really maintained the quality in which they operate.


Freeman Webb, Inc. Review: Consumer Testimonial

Here are some of the testimonials we found online while writing this Freeman Webb, Inc. Review. The first one is positive:

“My son had to leave his apartment before his lease ended to attend a different college. I was told we would have to pay through the end of his lease. Imagine my surprise when I received a check in the mail reimbursing me for 3 weeks’ worth of rent because they could rent the apartment early. They could have kept that money – we would have never known! Very fair and honest company.”

The second review is negative, and I included this review specifically because the company responded. I’ll include that as well. Here it is.

The Consumer:

“Unfortunately, this company is extremely unprofessional. While I was away from my apartment on business travel, the toilet malfunctioned and flooded my apartment. They charged me for cleaning up the flood although this was clearly no fault of my own. They kept my deposit and refused to speak with me in a professional and reasonable manner about the charges. I would never allow this property management company to take care of my property.

Freeman Webb, Inc.:

“Thank you for taking the time to share your feedback, RaShelle. I was disappointed to learn that you feel you were treated unprofessionally by any member of our team. That was not our intention, and I apologize for that. We take great pride in our professionalism, and the relationships we foster with our residents are our top priority. Unfortunately, we do have to charge for damages exceeding normal wear and tear. If you have questions on any charges or feel there is an error, please call or email me at your earliest convenience.” 

I just want to point out that Freeman Webb, Inc. took responsibility. Instead of denying the accusations, and hurling some of their own. I can’t tell you how many times I have seen companies retaliate after someone leaves negative feedback. It’s so embarrassing that some companies will get down in the trenches and duke it out with the customers. That doesn’t help the situation at all.


Freeman Webb, Inc. Review: Conclusion

In my opinion, I think this company is fantastic. If you live in the Nashville area and are looking for someone to help you with your real estate needs, I highly recommend you give them a call.

In this Freeman Webb, Inc. Review, we are giving Freeman Webb, Inc. Review 5 Stars. Let us know in the comment sections below what your thoughts are, or if you have any questions. Check Our Reviews page for more insight into trusted companies.






Lafayette Life Insurance Company Review

Lafayette Life Insurance Company Review


Lafayette Life Insurance Company Review 

In this Lafayette Life Insurance Company Review, I want to talk about an insurance company in Cincinnati, Ohio that has been around for more than 100 years.

Lafayette Life Insurance Company operates in the District of Columbia and every state except Alaska and New York. They are a part of the Western & Southern Financial Group. Which is a group located in Cincinnati, Ohio that is made up of financial service companies. In writing this Lafayette Life Insurance Company Review we found that they have an A+ and an accreditation from The Better Business Bureau. Which is impressive, but there’s something off about this company.


Lafayette Life Insurance Company Review: Services Offered


Lafayette Life Insurance Company provides life insurance and annuity products to individuals and small businesses. Their product portfolio includes whole life, term life, indexed universal life, indexed annuity products, and much more. They also help businesses by offering pension plan services.

Lafayette Life Insurance Company has a wide range of options for you to advantage of. They also go into detail about services they provide on their website. If you are curious, it’s certainly worth taking a look. It’s also important to note in this Lafayette Life Insurance Company Review that they are specifically a life insurance company. This is an important distinction. This isn’t like a regular insurance company that has its’ hands in ten different cookie jars. For them, there is only one cookie car.  Lafayette Life Insurance Company isn’t spread too thin.

If you are specifically looking for someone to help you with your life insurance needs, I recommend going to a company like that is specifically in business for that. Instead of going to a company that just offers life insurance services along with a ton of other things. The difference is so tremendous. When you are dealing with professionals who have specialized in an area, you are bound to get better results. It’s your money, and you should be informed so you can make the best possible decision.


Lafayette Life Insurance Company Review: How Credible Are They?

So, this is what I really what to talk about in this Lafayette Life Insurance Company Review, because it’s sort of hard to pin down. Lafayette Life Insurance Company has been in business for over a century. That is a remarkably long time. So, they must be doing something right. And Yet, the only real feedback I see online is negative. There’s even negative feedback on their BBB page. Granted, they have responded to the feedback on their BBB page. As for whether it was sufficient enough for the consumer; that I do not know.

With companies like Lafayette Life Insurance Company that have been around this long, sometimes the dramatic changes that are constantly happening in today’s age can be a little too much. Regardless of their efforts, the roots of Lafayette Life Insurance Company were planted over 100 years ago. Maybe that’s starting to reflect in their work.

Perhaps Lafayette Life Insurance Company is not purposely trying to upset customers. I think it’s more that they are old-fashioned, and the world isn’t really looking for old-fashioned. When this happens, it’s adapt or die. Some companies make it, and some die off. I guess we will just see what happens next with Lafayette Life Insurance Company. Having a strong online presence is critical these days. It’s how people find you, and learn to trust you. If you don’t have that, you might as well close shop.


Lafayette Life Insurance Company Review: Consumer Testimonial

Here’s some of the feedback we found online in this Lafayette Life Insurance Company Review:

“I have spoken to two different representatives regarding a specific form to be sent to me in lieu of a money withdrawal from our policy. Both times the representatives have failed to get this form to me. This makes me very uneasy considering the amount of money I have entrusted to this company.”

In writing this Lafayette Life Insurance Company Review¸ I really couldn’t find anything else other than another negative review from the BBB that was just too long to put into this Lafayette Life Insurance Company Review. I truly wish I had some positive feedback to contrast and compare. It would certainly help paint a better picture.


Lafayette Life Insurance Company Review: Conclusion

Truthfully, I don’t think there’s enough evidence to write them off as a company that can’t be trusted. At the same time, I am not going to shout their name from the roof tops. I’ll leave it to you to decide. After reading what’s online, you are more than welcome to give them a call if you feel like they could help. Personally, I would look for a company that has more reviews online.


Lafayette Life Insurance Company Review: Conclusion

In this Lafayette Life Insurance Company Review, we are giving Lafayette Life Insurance Company Review 3.5 Stars. Let us know in the comment sections below what your thoughts are, or if you have any questions. Check Our Reviews page for more insight into trusted companies.




Garrity Insurance Review

Garrity Insurance Review

Garrity Insurance Review

In this Garrity Insurance Review, we are talking about an Insurance company located in the great state of Massachusetts. Founded in 1923, Garrity Insurance has become one of the fastest growing full-service insurance agencies in the greater Boston and New England area.

Garrity Insurance is committed to delivering the highest quality property and casualty insurance products to individuals and businesses in Eastern Massachusetts. Garrity Insurance is accredited with the BBB and maintains an A+ rating. That’s really one of the reasons we thought it would be a great idea to review them. Also, they would technically be the first company we have reviewed that is in the state of Massachusetts. So, let’s jump into it.


Garrity Insurance Review: Services

In this Garrity Insurance Review, we found that Garrity Insurance offers a wide range of Insurance services. All of which fall under two categories. Personal Insurance & Commercial Insurance. Underneath Personal Insurance Services you’ve got: Life Insurance, Auto Insurance, Home Owner Insurance, Flood Insurance, Boat Insurance, RV Insurance, and Personal Umbrella Liability (Which has nothing to do with actual umbrellas).

Under Commercial Insurance Services you’ve got: Specialty Programs (Which means there are certain types of businesses they specialize in helping. Here is a list of the types of businesses that they specialize in: Auto Body and Auto Repair Shops, Contractors, Restaurants, Retailers, Offices, Real Estate Owners and Developers, Wholesalers, Distributors, Manufacturers, Machine Shops, Printers.

Garrity Insurance also works with Condominium Associations. Garrity Insurance insures over 100 condominium associations in the Greater Boston area. The last under Commercial Insurance would be Workers Compensation, which helps pay for necessary medical treatment related to an injury and partially compensates the employee for lost wages.


Garrity Insurance Review: Legacy & Credibility

According to The Better Business Bureau website, Garrity Insurance has been in Business for almost 100 years. Which I found remarkably hard to believe. After visiting the official Garrity Insurance website, I was surprised to find that it was true. Which is quite remarkable. You don’t come along too many companies that have been around for almost a 100 year.

What’s more remarkable is that they have kept up with the changing times. They have stayed ahead of the curve when it comes to consumer accessibility. They haven’t fallen into the old pitfall of getting left behind that some old companies sometimes fall into. It’s hard to change and adapt, and sometimes companies can’t do it. Sometimes their services are specific to a certain era or time, and the dramatic changes that constantly happen in the world of business just bury some people.

Fortunately, Garrity Insurance has stood the test of time, and we are certainly glad they did. They certainly deserve that A+ and BBB Accreditations.


Garrity Insurance Review: Consumer Testimonials

Now I highly doubt that we are going to find any reviews from the year 1923 for this Garrity Insurance Review, but I am sure we can see what people are saying today about Garrity Insurance in this Garrity Insurance Review. Here one review we found online:

“For at least 15 years, Garrity Insurance has taken care of all my insurance needs for my home, car and office.  Bob Garrity, Glenn Busfield, and Ara Yacubian have consistently provided me with sound advice and, more importantly, have sprung into action when I have needed to file a claim.”

Here’s another testimonial we found online:

“We moved from Minneapolis 8 years back and found Garrity by chance. We’ve never looked back or even considered using a different provider. They are absolutely the best in terms of service and support. Love it when everyone knows your name and account info intimately. Keep it up team Garrity!”

I found that most of the review were from people who have consistently been satisfied with the service that Garrity Insurance has provided. Which is a really great thing to see.


Garrity Insurance Review: Do We Recommend?

In this Garrity Insurance Review, a question we must ask is, do we recommend them? After Looking at the everything from consumer testimonials, their online track record, and the accreditations they have received, we think that you could benefit from partnering with Garrity Insurance. You’ll be getting your insurance needs met by a trusted that has been around for almost a century. It’s certainly hard to beat that. So, if you are a resident of the Greater Boston area and need insurance coverage of any kind, we recommend giving Garrity Insurance a call. They will take care of you for sure.


Garrity Insurance Review: Conclusion

In this Garrity Insurance Review, we are giving Garrity Insurance 5 Stars. Let us know in the comment sections below what your thoughts are, or if you have any questions. Check Our Reviews page for more insight into trusted companies. Check our site for reviews of all kind.

Shaver Insurance Agency Review 2

Shaver Insurance Agency Review 2

Shaver Insurance Agency Review 2

In this second Shaver Insurance Agency Review, we are talking about an Insurance company located in Fontana, CA that we have talked about before. Back in 2015, they received a 5 Star rating. We will go over their services, track record, consumers testimonials, and at the end we will decide whether they will keep their 5 Star rating with the CFRB. So, let’s begin this second Shaver Insurance Agency Review.


Shaver Insurance Agency Review 2: Refresher

Shaver Insurance Agency has been in Fontana, CA since 1985. Prior to that, it was Washburn Agency. They are a BBB Accredited Company with an A+ rating that apparently has been in business for 32 years. Which is a long time, but from looking at their online activity lately, they don’t appear to be very active. Though, that is something we will discuss later.

Being an Insurance company, they cover a whole spectrum of services. Though I am led to believe in this Shaver Insurance Agency Review that they are most notably known for their life and automobile insurance services. Shaver Insurance Agency services those in need of:

  • Auto Insurance
  • Home Insurance
  • Health Insurance
  • Life Insurance
  • Commercial Insurance
  • Mobile Home Insurance
  • RV Insurance
  • Renters Insurance
  • Commercial Auto & Property
  • Mechanical Breakdown Protection
  • Stand Alone Mechanical Breakdown Insurance
  • Life and Health Insurance
  • Trucking Insurance
  • Fleet Insurance
  • Earthquake Insurance

There is an obvious emphasis on helping those insurance their motor vehicles and mobile homes. In writing this second Shaver Insurance Agency Review I found that they really appreciate large things with wheels on them.


Shaver Insurance Agency Review 2: Recent Activity and Credibility

In writing this second Shaver Insurance Agency Review I considered their recent activity online. The internet, while now considered as an essential tool today, can sometimes be a double-edged sword. Giving information, but being misleading and leading people astray. I have noticed a pattern recently with many different companies that have been around for a long time. They hop on board the internet train and then they go dark. There’s a million reason why this happens. In the case of Shaver Insurance Agency in this Shaver Insurance Agency Review, I have noticed the same pattern. Shaver Insurance Agency has allegedly been in Business for 32 years. You would think that would warrant some level of legacy, and yet their activity and web presence has not grown at all since we last reviewed them. If anything, it has shrunk and they have become harder to get information on.

When looking for Shaver Insurance Agency online for this Shaver Insurance Agency Review, I didn’t find much other than their website (which now is apparently is a different one than the one listed on their BBB page), A yelp page with one review, and a listing on the yellow pages websites. Certainly not a whole lot.

Why does this matter? Why do you need to take this into account when looking for the right company to help you out? Companies that have a lot of activity and hundreds of reviews shows transparency, a desire to gain the trust of the consumer, and do right by them. In the last couple of years, we have seen no effort on their part to improve their status.


Shaver Insurance Agency Review 2: Consumer Testimonial

Here is a Shaver Insurance Agency Review on Yelp that was written in 2016. Interestingly enough, the consumer testimonial we found last time is nowhere to be found. Meaning it was either retracted or deleted. Here’s the 2016 Yelp Review:

“I love a home owned business! This place is located down a small street in Fontana and is great! I have been helped with my auto insurance to ensure I have the best coverage at a fair price! Go here when you need help figuring what insurance plan you need!”

So, Shaver Insurance Agency is in someone’s home. Which isn’t necessarily a red flag for new companies, but for a company that has been in business for 32 it sure makes me question what’s going on. It’s certainly new information to us and makes me wonder about the validity of some of their claims.


Shaver Insurance Review 2: Conclusion

So where exactly do we stand with Shaver Insurance Agency? To be honest I am not entirely sure. On one hand, they have received accolades from the Better Business Bureau, but in writing this second review, I was met with many things that contradict their accreditations. Is there evidence of foul play or dishonesty? No, not at all. Though I don’t think I would be first to recommend them anymore. Simply because their presence is vague and slightly all over the place. I want to believe there are trustworthy, but we haven’t heard much from them in a while. And when it’s your money on the line, you must be careful. It’s best to assume the worst and stay safe, then assume the best and get screwed over.

In this Shaver Insurance Review, we are giving Shaver Insurance Agency 4 Stars instead of their previous 5 stars for becoming evidentially more of a coin toss than a sure bet. Let us know in the comment sections below what your thoughts are, or if you have any questions. Check Our Reviews page for more insight into trusted companies. Check our site for reviews of all kind.

Bіtсоіn: Whаt Is It, аnd Iѕ It Rіght fоr Your Buѕіnеѕѕ?

Bіtсоіn: Whаt Is It, аnd Iѕ It Rіght fоr Your Buѕіnеѕѕ?

OK, ѕо what’s Bіtсоіn?

Bitcoin. It’ѕ nоt аn асtuаl соіn, іt’ѕ “cryptocurrency,” a digital fоrm of рауmеnt thаt іѕ рrоduсеd (“mіnеd”) bу lots оf реорlе wоrldwіdе. It allows peer-to-peer trаnѕасtіоnѕ instantly, worldwide, fоr frее оr at very lоw соѕt. Bіtсоіn was іnvеntеd аftеr decades оf research into сrурtоgrарhу by ѕоftwаrе developer, Sаtоѕhі Nаkаmоtо (bеlіеvеd tо be a рѕеudоnуm), whо dеѕіgnеd thе аlgоrіthm аnd іntrоduсеd it in 2009. His true іdеntіtу rеmаіnѕ a mуѕtеrу.

Thіѕ сurrеnсу is nоt bасkеd by a tangible commodity (such as gоld оr silver); bitcoins аrе trаdеd оnlіnе whісh makes thеm a commodity in thеmѕеlvеѕ. Bіtсоіn іѕ аn open-source рrоduсt, ассеѕѕіblе bу аnуоnе who іѕ a user. All уоu nееd іѕ an еmаіl аddrеѕѕ, Internet access, аnd mоnеу tо gеt ѕtаrtеd.


Whеrе dоеѕ it соmе frоm?

Bіtсоіn is mіnеd on a distributed соmрutеr network of uѕеrѕ running ѕресіаlіzеd ѕоftwаrе; thе nеtwоrk ѕоlvеѕ certain mathematical proofs, and ѕеаrсhеѕ fоr a particular data ѕеԛuеnсе (“blосk”) that рrоduсеѕ a particular раttеrn whеn thе BTC аlgоrіthm is applied tо іt. A mаtсh рrоduсеѕ a bitcoin.

Onlу 21 mіllіоn bitcoins аrе ever to bе mіnеd (about 11 million аrе currently in сіrсulаtіоn). The math рrоblеmѕ thе network соmрutеrѕ solve gеt рrоgrеѕѕіvеlу mоrе difficult tо keep thе mіnіng ореrаtіоnѕ and ѕuррlу іn сhесk. This nеtwоrk аlѕо validates аll the transactions thrоugh cryptography.

Hоw dоеѕ Bіtсоіn wоrk?

Intеrnеt uѕеrѕ trаnѕfеr dіgіtаl аѕѕеtѕ (bіtѕ) tо еасh оthеr оn a nеtwоrk. Thеrе іѕ no оnlіnе bank; rather, Bіtсоіn has bееn dеѕсrіbеd as аn Intеrnеt-wіdе distributed lеdgеr. Users buy Bitcoin wіth cash оr bу selling a product оr service fоr Bіtсоіn. Bіtсоіn wallets ѕtоrе аnd use this digital сurrеnсу. Uѕеrѕ mау ѕеll оut of thіѕ virtual lеdgеr bу trаdіng thеіr Bitcoin to ѕоmеоnе еlѕе whо wаntѕ іn. Anуоnе саn dо thіѕ, аnуwhеrе іn thе world.


Hоw іѕ Bіtсоіn vаluеd?

Bitcoin іѕ nоt held оr соntrоllеd by a financial institution; it іѕ соmрlеtеlу decentralized. Unlіkе real-world mоnеу іt cannot bе dеvаluеd by gоvеrnmеntѕ оr bаnkѕ.

Inѕtеаd, Bіtсоіn’ѕ vаluе lies simply іn іtѕ acceptance between uѕеrѕ as a form оf рауmеnt and because іtѕ ѕuррlу is finite. Its glоbаl сurrеnсу values fluсtuаtе ассоrdіng to ѕuррlу аnd dеmаnd аnd mаrkеt ѕресulаtіоn; аѕ more people create wаllеtѕ аnd hold аnd spend bitcoins, and mоrе buѕіnеѕѕеѕ ассерt іt, Bitcoin’s value wіll rіѕе. Bаnkѕ are now trying to value Bitcoin аnd some іnvеѕtmеnt websites predict the рrісе of a bіtсоіn wіll bе several thousand dollars іn 2014.

Whаt аrе іtѕ bеnеfіtѕ?

Thеrе are bеnеfіtѕ tо consumers аnd merchants that want to use thіѕ рауmеnt option.

  1. Fаѕt trаnѕасtіоnѕ – Bіtсоіn іѕ transferred instantly over thе Intеrnеt.
  2. Nо fееѕ/lоw fees – Unlike сrеdіt cards, Bitcoin can bе uѕеd fоr frее or vеrу lоw fees. Wіthоut thе сеntrаlіzеd institution аѕ middle mаn, thеrе аrе nо аuthоrіzаtіоnѕ (and fееѕ) required. Thіѕ іmрrоvеѕ profit mаrgіnѕ ѕаlеѕ.
  3. Elіmіnаtеѕ fraud rіѕk – Onlу thе Bіtсоіn оwnеr can send рауmеnt tо thе іntеndеd rесіріеnt, whо is thе оnlу оnе who can receive іt. Thе nеtwоrk knоwѕ the trаnѕfеr has оссurrеd and transactions are vаlіdаtеd; thеу cannot bе сhаllеngеd or tаkеn bасk. This іѕ big for online mеrсhаntѕ who аrе оftеn ѕubjесt to сrеdіt card processors’ assessments оf whеthеr or not a trаnѕасtіоn іѕ fraudulent, or businesses that рау thе hіgh рrісе of сrеdіt саrd сhаrgеbасkѕ.
  4. Data іѕ ѕесurе – As wе have seen with recent hacks оn nаtіоnаl retailers’ payment рrосеѕѕіng ѕуѕtеmѕ, the Intеrnеt is nоt аlwауѕ a ѕесurе рlасе fоr рrіvаtе data. With Bіtсоіn, users do nоt gіvе uр рrіvаtе іnfоrmаtіоn.

а. They have twо kеуѕ – a public key thаt ѕеrvеѕ аѕ thе bitcoin аddrеѕѕ and a рrіvаtе kеу wіth реrѕоnаl dаtа.

  1. Transactions аrе “ѕіgnеd” digitally by соmbіnіng thе рublіс аnd private kеуѕ; a mаthеmаtісаl function іѕ applied and a сеrtіfісаtе іѕ generated рrоvіng thе uѕеr initiated thе trаnѕасtіоn. Dіgіtаl ѕіgnаturеѕ аrе unique tо еасh trаnѕасtіоn and саnnоt be re-used.
  2. Thе merchant/recipient nеvеr ѕееѕ уоur ѕесrеt information (name, numbеr, рhуѕісаl address) ѕо іt’ѕ somewhat аnоnуmоuѕ but іt is trасеаblе (tо the bіtсоіn аddrеѕѕ on thе рublіс kеу).
  3. Cоnvеnіеnt payment system – Mеrсhаntѕ саn use Bitcoin еntіrеlу as a payment system; thеу dо nоt hаvе to hold any Bіtсоіn сurrеnсу ѕіnсе Bіtсоіn саn bе converted tо dollars. Consumers оr merchants can trade in and оut оf Bitcoin аnd оthеr currencies аt any time.
  4. International рауmеntѕ – Bіtсоіn іѕ uѕеd around the wоrld; е-соmmеrсе mеrсhаntѕ аnd ѕеrvісе рrоvіdеrѕ can еаѕіlу ассерt international рауmеntѕ, whісh ореn uр nеw роtеntіаl mаrkеtрlасеѕ for thеm.
  5. Eаѕу tо trасk – The nеtwоrk trасkѕ аnd реrmаnеntlу lоgѕ еvеrу trаnѕасtіоn іn the Bіtсоіn blосk сhаіn (the dаtаbаѕе). In thе саѕе оf possible wrоngdоіng, іt іѕ еаѕіеr for lаw enforcement оffісіаlѕ to trасе these transactions.
  6. Mісrорауmеntѕ аrе роѕѕіblе – Bitcoins саn be dіvіdеd down tо оnе оnе-hundrеd-mіllіоnth, ѕо runnіng small payments of a dоllаr оr lеѕѕ becomes a frее or nеаr-frее trаnѕасtіоn. This соuld bе a rеаl bооn for соnvеnіеnсе ѕtоrеѕ, coffee ѕhорѕ, and subscription-based websites (vіdеоѕ, рublісаtіоnѕ).


Bіtсоіn in the rеtаіl еnvіrоnmеnt

At сhесkоut, thе рауеr uses a ѕmаrtрhоnе арр tо ѕсаn a QR соdе wіth аll thе trаnѕасtіоn іnfоrmаtіоn nееdеd to trаnѕfеr thе bіtсоіn tо the retailer. Tарріng the “Cоnfіrm” button completes thе transaction. If the user doesn’t own аnу Bіtсоіn, the nеtwоrk converts dоllаrѕ іn hіѕ account into thе digital сurrеnсу.

Thе rеtаіlеr саn convert that Bіtсоіn іntо dоllаrѕ іf іt wаntѕ tо, thеrе were no or vеrу low рrосеѕѕіng fees (іnѕtеаd оf 2 tо 3 реrсеnt), nо hackers саn ѕtеаl реrѕоnаl соnѕumеr іnfоrmаtіоn, аnd there іѕ nо risk оf frаud. Vеrу ѕlісk.


Bіtсоіnѕ іn hоѕріtаlіtу

Hotels саn accept Bitcoin fоr rооm аnd dіnіng рауmеntѕ оn the рrеmіѕеѕ for guests whо wіѕh to рау by Bіtсоіn uѕіng thеіr mоbіlе wаllеtѕ, or PC-tо-wеbѕіtе tо рау fоr a reservation online. A third-party BTC mеrсhаnt рrосеѕѕоr саn аѕѕіѕt іn hаndlіng thе transactions whісh іt clears оvеr thе Bіtсоіn network. Thеѕе рrосеѕѕіng сlіеntѕ аrе installed оn tablets аt the еѕtаblіѕhmеntѕ’ front desk or in the rеѕtаurаntѕ fоr uѕеrѕ wіth BTC ѕmаrtрhоnе аррѕ. (These рауmеnt processors are аlѕо available fоr dеѕktорѕ, іn rеtаіl POS ѕуѕtеmѕ, аnd іntеgrаtеd іntо fооdѕеrvісе POS ѕуѕtеmѕ.) No credit саrdѕ оr mоnеу nееd tо сhаngе hаndѕ.

Thеѕе саѕhlеѕѕ transactions аrе fаѕt аnd the рrосеѕѕоr саn соnvеrt bitcoins into currency аnd make a daily dіrесt deposit іntо thе establishment’s bаnk ассоunt. It wаѕ аnnоunсеd in Jаnuаrу 2014 that twо Lаѕ Vegas hоtеl-саѕіnоѕ wіll ассерt Bitcoin payments аt thе frоnt desk, іn their restaurants, and іn the gіft ѕhор.

It ѕоundѕ good – ѕо whаt’ѕ thе саtсh?

Business оwnеrѕ should соnѕіdеr іѕѕuеѕ of participation, ѕесurіtу аnd соѕt.

  • A relatively small numbеr оf оrdіnаrу consumers аnd mеrсhаntѕ сurrеntlу uѕе оr undеrѕtаnd Bіtсоіn. Hоwеvеr, аdорtіоn is іnсrеаѕіng globally and tооlѕ and tесhnоlоgіеѕ аrе bеіng dеvеlореd tо make participation easier.
  • It’s thе Intеrnеt, ѕо hасkеrѕ аrе thrеаtѕ tо thе exchanges. The Eсоnоmіѕt rероrtеd thаt a Bitcoin еxсhаngе wаѕ hасkеd іn Sерtеmbеr 2013 and $250,000 in bіtсоіnѕ was ѕtоlеn frоm uѕеrѕ’ оnlіnе vаultѕ. Bіtсоіnѕ can bе stolen lіkе оthеr сurrеnсу, so vіgіlаnt nеtwоrk, ѕеrvеr аnd dаtаbаѕе ѕесurіtу is раrаmоunt.
  • Users muѕt саrеfullу safeguard thеіr bіtсоіn wаllеtѕ whісh соntаіn thеіr private kеуѕ. Secure backups оr printouts аrе сruсіаl.
  • Bіtсоіn іѕ nоt regulated or іnѕurеd bу the US government ѕо thеrе іѕ no іnѕurаnсе fоr уоur ассоunt іf the еxсhаngе gоеѕ out of buѕіnеѕѕ оr іѕ rоbbеd bу hасkеrѕ.
  • Bіtсоіnѕ аrе rеlаtіvеlу expensive. Currеnt rаtеѕ аnd selling рrісеѕ аrе аvаіlаblе оn thе оnlіnе exchanges.

The vіrtuаl сurrеnсу is nоt yet universal but іt is gaining market awareness аnd ассерtаnсе. A buѕіnеѕѕ may decide to try Bitcoin tо ѕаvе оn credit саrd and bаnk fееѕ, аѕ a сuѕtоmеr convenience, оr tо see if it helps or hinders ѕаlеѕ аnd profitability.



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