Micropayments are defined as digital transactions under 1 dollar made in exchange for some digital good or service. It is a concept that has been explored by several developers but has not yet been successfully executed. However, over the past few years Bitcoin has proven to have ideal characteristics for executing small transactions, avoiding the problems and limitations inherent in traditional payment systems.
It is for this reason that several tools are currently emerging that use Bitcoin micropayment systems. Below is a list of ten tools whose potential indicates that micropayments could soon become the new way to earn money for online content creators.
Syndicoin is an online financing system through micropayments with Bitcoin. Its operation consists in generating small micropayment requests to visualize the content of a certain web page, allowing consumers to reward publishers of online content in a simple way. This tool does not require prior registration by publishers or consumers, nor does it retain its funds at any time.
Bitwall is another payment system for displaying online content through micro-payments with Bitcoin. This tool allows publishers to install paywalls or payment walls that offer several payment options to display the desired content. In addition to paying in bitcoins, consumers can also pay in dollars, since Bitwall integrates the digital system of the Coinbase portfolio.
With Bitwall, users can pay a penny (the minimum amount established by the platform) to read an article that interests them. However, they will also have the opportunity to pay daily subscription fees, sums of money in advance or access the content when viewing an ad or tweeting. Currently the company is considering the possibility of adding other payment options in addition to those mentioned above.
BitMonet is an open source tool that allows publishers to accept micro-payments in bitcoins by viewing their articles, news or reports. Consumers can easily pay for the content of their interest without having to provide details about their financial or personal data.
This tool works through paywalls that offer the reader the options to pay for each item, per hour or for a day of unlimited access. The use of BitMonet is free, but users will have to pay the processing fee established by BitPay, the payment processor used by the platform.
ChangeTip is a platform that allows you to send tips in bitcoins to anyone through social networks, as a way to reward users for the published content. Its objective is to change the current model of content monetization on the Internet through micro-payments with Bitcoin.
This platform is now available on 35 social networks, including the most popular ones currently such as Facebook, Twitter, Youtube, Tumblr and Reddit. The ChangeTip system works by means of a “love button”, alternative to the familiar buttons of likes available on Facebook and Twitter, which allows users to carry out their transactions in a simple way.
Bitcoin Fax is a new Internet fax service that allows sending faxes anywhere in the world without requiring any type of subscription. It has a simple operation: the user must only enter the fax number, load a PDF document and send.
This tool emerged as an alternative to online fax services whose subscription and shipping costs are often too expensive for customers. Payments in Bitcoin Fax are made through micro-payments in bitcoins. Shipping rates range from 11 cents to send faxes to Japan to $ 7.58 to send faxes to places like Afghanistan, which is quite economical compared to other traditional platforms.
PopChest is a tool that allows you to send micro payments in a direct and decentralized way to content creators, in this case, videos. Its operation consists of blocking video contents that can only be unlocked in exchange for small amounts of bitcoins.
The objective of the PopChest initiative is to eradicate the need for the advertisements that appear in the videos, changing them by a totally different system that allows content creators to receive remuneration for their work. Payments would be sent directly and transparently, as PopChest does not retain user funds at any time during the procedure.
BitMesh is a platform that establishes micropayment channels between an internet provider and a client, allowing the provider to share their Internet connection with other users in exchange for bitcoins, without the participation of a third party and without the need for a prior contract.
Through the use of this platform users can pay in advance only for the bandwidth and browsing time they need to use. While users enjoy the service, the BitMesh server calculates the time used and the time remaining. Currently, BitMesh is being incubated by venture capital firm Boost VC and they have already developed some prototypes of their project.
ZapChain is a social network in which users have the opportunity to engage in discussions by asking questions and answers around various topics such as virtual reality, 3D printing, the Internet of things, astronomy and Bitcoin.
This social network has the peculiarity of employing a system of micropayments to reward users who make the best contributions through their questions and answers. All users have the opportunity to send bits or units of bitcoin to people whose contribution they thought valuable, through a tip button located next to the sections for questions and comments.
AdBlock-to-Bitcoin is an open source tool launched a few days ago that allows you to replace blocked advertisements on web pages with an invitation to donate bitcoins. This would be possible thanks to the use of a Bitcoin micropayment system that allows users to contribute to the financing of online content publishers.
All this, making use of an easy-to-use and transparent technology that offers the opportunity to transfer small amounts of money to any part of the world, almost instantaneously, with minimal commissions, without having to carry out any type of registration and without provide personal information
BlockCypher recently launched its first microtransaction API that, when integrated, allows micropayments with Bitcoin in an economical and simple way. This company focuses on offering a service that allows its users to perform their microtransactions and issue them in the Blockchain, saving the expenses in commissions.
As transactions are recorded almost instantaneously in the Blockchain, both the sender and the receiver can control the status of their operation at live.blockcypher.com by entering the address of the transaction. The company deals with the calculation and payment of fees for the first 8,000 transactions of each user.