Payment systems
This is a question that often causes confusion. Here's a quick explanation!
The basics for a new user
As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once.
Balances - block chain
The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.
Transactions - private keys
A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining.
Processing - mining
Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends.
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Description of payment system:Perfect Money was founded in 2007. Legally, the system belongs to Perfect Money Finance Corp., Registered in Panama.
Special features:there are 2 types of accounts Personal and Business. When you sign up for an account with Paxum, your account is unverified by default. Unverified accounts have limits on transactions they can perform. If your account is verified - funds withdrawal limit is $10,000 per day. For unverified account limit is $0. Paxum allows its members to send money online with its low fee P2P system. Upon registration with Paxum, you can link it to your existing current account card else you receive a Paxum prepaid MasterCard. You also have the privilege to receive money from other Paxum members. Paxum offers 24/7 live support too.
Account:Perfect Money account is not your personal Member ID which contains only digits, it is account number which starts from U (dollar account), E (euro account) or G (gold account). When you use our service you can use only U or E accounts. For example, dollar account is U1234567.
Fee of payment system: 0.5% fee is charged from the sender.
Methods of withdrawing on zenithincome.com:international bank transfer (USD,EUR), local bank transfers (GBP, PLN, CZK), Western Union, MoneyGram and exchange other e-currency to Perfect Money.
Usage:Perfect Money is used in online stores, forums and many websites start to adopt Perfect Money, also forex traders use PM as a payment method.
Description of payment system: FasaPay is Indonesian fast and safe online payment system service, established in 2011. The system belongs to PT Fasa Centra Artajaya (FCA) company, set up in 2011 in Indonesia.
Special features: Every member even just registered can immediately start using FasaPay. There are 3 statuses of FasaPay membership - Active Member, Verified Member, and Store Member. This classification is supposed to limit members transactions amount and to restrict usages of certain FasaPay feature such as SCI and API. FasaPay charges members nothing for upgrading their membership status. You can make only 2 exchanges per day. All exchanges are processed during their business days Monday - Friday, 09.00 ~ 17.00 GMT+7.
Account: FasaPay account starts with FP and is followed by 5 digits (FP00000).
Fee of payment system: 0,5 % (min 0.01USD max 5 USD). When you transfer funds you can choose who will pay the fee - sender or receiver.
Methods of funding on zenithincome.com: you can buy FasaPay with Western Union or MoneyGram, or exchange Bitcoin, Litecoin, Perfect Money, OkPay, BTC-e USD to FasaPay.
Methods of withdrawing on zenithincome.com: Western Union, MoneyGram, or exchange FasaPay to other e-currencies.
Usage: FasaPay is used for e-commerce purposes, to purchase goods on the Internet, to transfer funds to other FasaPay members fast and cost-efficient. It is also accepted by Forex brokers.
https://www.fasapay.com
