Coinetize, a micropayment service that pays in bitcoin, allows any website to accept payments for content. A key goal of the project, which is currently in private beta, is to free website content providers from having to compromise content quality with unattractive advertising that is often needed to monetize the content.
Website visitors can purchase “Coinetize Credits” using either a credit card or bitcoin. Coinetize charges users a 1.8% fee.
A website can allocate some of its pages to Coinetize to filter. Coinetize will only allow visitors access to those pages if the visitors have paid the correct fee.
The Coinetize website shows a “Coinetized” version of The Guardian newspaper. When a reader clicks on an article in The Guardian, a window pops up asking for 30 credits. The window also has a button for the reader to sign up for a Coinetize account. The website promises 24-hour customer email support.
Once a Coinetize session begins, visitors pay as they go, making micropayments as they click links. Payments are pegged to the dollar.
The company recommends visitors use three bitcoin exchanges: Circle, CoinHako and Xapo.
Visitors who don’t own bitcoin can purchase “Coinetize Credits” using a credit card. They spend their credits as they click on the “Coinetized” links.
Coinetize allows websites to sell any type of content, such as news, videos, pictures, lists, schematics, tickets, creative works, etc.
The setup process allows a website to be monetized in a few minutes with four possible linking methods: DNS, reverse proxy, page redirects and secret folders. Linking requires no credit or ID checks or setup fee. Linked websites can start receiving revenue immediately.
Coinetize, according to its website, is an online paywall and resource license management system owned by Virtual Blue Ltd. in Hong Kong.
Tom Gracey launched Virtual Blue Ltd. in Hong Kong in 2014, according to information the company provided to CCN. Gracey created Virtual Blue to be an umbrella company for several projects. So far, Coinetize has been the company's sole focus.
“I dreamt up Coinetize in response to the absence of applications that really take advantage of digital currency.” Gracey said. “Despite endless speculation on the benefits of bitcoin, there is still very little you can actually do with it. In my opinion, this is because startups in the bitcoin sphere seem very one-dimensionally focused on a) the price of bitcoin (they will tell you it's the 'value' - but they are wrong) and b) buying and selling bitcoin."
Despite endless speculation on the benefits of bitcoin, there is still very little you can actually do with it. In my opinion, this is because startups in the bitcoin sphere seem very one-dimensionally focused on a) the price of bitcoin (they will tell you it's the 'value' - but they are wrong) and b) buying and selling bitcoin.
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“It feels like almost every day a new bitcoin exchange opens its doors." Gracey said." So you can convert fiat into bitcoin, and then... convert it back? The real value of bitcoin is ultimately nothing unless there is something unique you can do with it, something you could not do before.
“What's needed is real creativity and real innovation, not just endless currency trading. With Coinetize we are trying to provide that. Coinetize is an attempt to apply digital currency to the task it is best suited to – small online transactions that are similar to cash payments.
“Most major editorials recently went subscription, and that succeeded, despite loud claims it wouldn't. But smaller editorials, blog sites and the general common Internet user have no hope of earning money through subscriptions. Coinetize opens up the chance for anybody to get paid for web content – with no subscription necessary.”
Coinetize is working on a WordPress install plugin to simplify setting up a WordPress site with just a few clicks. This will allow websites to monetize WordPress content right away.
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