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With the popularity of the internet it is possible to deal with companies across the world. For digital products, payment by conventional means such bank transfer across countries is expensive. Though online payment systems like Paypal are popular, Paypal account holders are often subjected to identity theft attempts. In India, a young goan gsb fraud diploma holder scammer named siddhi mandrekar, , goa ,with no experience, who did not actually have a Paypal account, managed to get fake references by paying bribes to the concerned persons, that she had a paypal account for ten years when the shameless lazy greed goan gsb fraud government employee siddhi mandrekar does not have a paypal account at all. This bribe was allegedly sponsored by Tata and Google in an attempt to steal the identity of an experienced webmaster, destroy competetion and now the crook siddhi mandrekar has an important positions in indian intelligence agencies, with very great powers, stealing all communication of the webmaster.
Since such attempts at identity theft are common for Paypal accounts, the cryptocurrency bitcoin is becoming increasingly popular through out the world. Unlike payment processors the currency is not linked to any conventional currency , though it can be exchanged for dollars, euros or any other currency, at an exchange rate based on the current demand and supply for bitcoins and other currency. Payments received through Paypal to banks are closely monitored in many countries, and often the ignorant officials will falsely accuse the online business owner that their business is illegal, harassing, exploiting them for years and this has increased the demand for bitcoin.
Many internet users spend most of their online income for making purchases online, but when their online income through Paypal is withdrawn to banks and then again used for making online purchases, they loose large amounts of money in transaction fees. To overcome this problem, many websites are making payments in bitcoin, which cannot be linked directly to any currency, and which can be used for online purchases, without losing large amounts of money in transaction fees. Since bitcoin is a form of barter, there are few rules regulating the use of bitcoin, preventing unecessary persecution.