LUXEMBOURG, Feb. 15, 2013 /PRNewswire/ -- Hosting.co.uk, the UK-based web hosting provider, has announced the addition of BitCoin as an eligible payment method for its services. BitCoin offers numerous advantages over traditional bank transfers or credit card transactions, security and privacy being the most noteworthy. The BitCoin network also simplifies the processing of international sales. Hosting.co.uk hopes to reach even more new clients with this foray into the startup digital economy of digital coins. BitCoin is a decentralized, person-to-person economy of digital coins. The code that makes the BitCoin network possible is open source, meaning anyone can look behind the scenes and see how everything functions. For users of BitCoin, there are no fees or other hidden costs, as is typical of many other payment methods. From a functionality standpoint, BitCoin transactions are designed to mirror online banking and payment systems, so most users should have no problem navigating within this digital economy. BitCoin works around the world. As an all-digital network not backed by any government or bank, there are no exchange rates to consider. For merchants, accepting digital coins is a way to make purchases easier for international customers. Because it's also less costly than traditional payment methods, BitCoin offers a chance for businesses to increase profit with no additional investment. "We understand that many potential customers still shy away from digital payment methods, fearful of identity theft or fraud," said Hosting.co.uk's Frederick Schiwek. "That's why Hosting.co.uk has moved forward with BitCoin as an alternate payment method. Not only is it faster and less costly than most bank-mediated transactions, it's more secure as well. We expect to see a surge in clients from around the world thanks to the globalizing effects of digital currency." Hosting.co.uk has built a reputation as an affordable and reliable hosting service provider. The company's target market includes everyone from individuals to small- and medium-sized businesses. BitCoin will be most appealing to individual users, especially those located outside of England or continental Europe. Hosting.co.uk offers hosting packages ranging from "Beginner" to "Ultimate." All packages come with a 99.9% uptime guarantee, as well as access to the latest versions of PHP, MySQL and Apache. Clients manage their sites and services via cPanel's graphical user interface. Recently, Hosting.co.uk partnered with MEGA cloud storage service as an authorized reseller. MEGA offers turn-key data storage with no software to install and the highest level of security. The service has quickly become a frontrunner in the competitive realm of cloud storage solutions. For Hosting.co.uk, this partnership represents another layer of value for current and future clients.