Piggy.Link allows websites to charge for content quickly and easily using bitcoin. Visitors to a Piggy.Link-linked website will be able to use their credit card to buy Piggy.Link credits. When they click the monetized links, they spend their Piggy.Link credit and the website gets paid in bitcoin. Hence, visitors don’t need to own bitcoin to buy content using Piggy.Link credits. The system works as a paywall, and no software installation is necessary. The process of activating Piggy.Link links on a website takes around 10 minutes.
“In my opinion, bitcoin needs applications which highlight its advantages over traditional payment systems,” said Tom Gracey, director of Hong Kong-based Virtual Blue Ltd., which owns Piggy.Link. “I think a system like Piggy.Link is sorely needed, and in my opinion it really could be a game-changing application.”
When a visitor clicks on a link, a fee information stub appears that explains the credits they must pay for accessing the content. When they click the stub, they are directed to log in to their Piggy.Link account or to open an account.
Piggy.Link does not sell bitcoin directly. Instead, it sells credits to be used on Piggy.Link links only. Piggy.Link charges a fee of 0.5 percent per transaction.
“We just finished the core functionality, and really what we have is a working prototype,” Gracey explained.
“We still need to hook up the credit card part, which I think we really need before people start to take the idea seriously. We’ll be linking sites in the coming weeks, and I anticipate it being a tough slog to get started simply because people don’t generally understand the application or its potential. So I guess we’ll be ‘hands on’ in terms of guiding people through the setup process initially, but it really is so simple to set up that I’m confident it won’t take long to achieve critical mass.”
The Piggy.Link website notes that bitcoin offers an easy way for websites to collect fees for accessing content. Such fees are typically very small, and bitcoin transactions are completed quickly.
“The advantages are quite clear: if you have so much as a blog site, you can charge for stuff you post on your site, with a set-up process that takes a few minutes, costs nothing and requires no validation. That’s something you just can’t do with regular currency. So Piggy.Link is about facilitating payment and moves away from being a bank or an exchange.”
The website can change the details in the offer, including the price.
Piggy.Link provides an alternative to the subscription payment model for monetizing website content. Internet surfers are normally only interested in looking at a particular piece of information on a website. Most websites that monetize their content require a visitor to pay a subscription to access content. In many, if not most instances, the visitor sees the subscription as a requirement to pay for content they don’t want. Hence, the visitor usually chooses not to pay and has a negative experience on the website.
Piggy.Link allows websites to receive the payments quickly and without the procedures that usually come with accepting online payments. There is no payment gateway subscription, no setup fees, no credit checks, no business verification procedures and no possibility of chargebacks. The website simply links up and can start getting paid.
Piggy.Link offers an overview about bitcoin for website owners that are not familiar with it. It recommends four bitcoin wallet providers as having fully insured deposit accounts, maintaining a high level of security, and offering bitcoin exchange services. These wallet providers are Circle, Elliptic, CoinHako and Xapo.