Bitcoin and other cryptocurrencies allow users to launch their own business models with relative ease. By using the internet, it is not difficult to find someone who will have a need for the product or service one can offer. But that does not mean people should illegally sell access to paid services either. IPTV4BTC is one of those examples.

Using Bitcoin To Pay For TV Is Difficult

Paying a cable tv subscription with Bitcoin is possible, in theory. Either the provider needs to accept Bitcoin directly – which is rarely the case – or one converts bitcoin to fiat currency to pay the bill. This latter option is not the most preferable, but either option is entirely legitimate.

There are other ways to get access to premium channels using Bitcoin. Various online providers will give users access to paid channels, in exchange for a small monthly subscription. IPTV4BTC is one of those service providers, albeit what they are offering is far from legitimate.

Just because someone pays for a paid service, does not mean they have the right to use it. IPTV4BTC resells access to online television, which can either be obtained for free or requires a dedicated subscription. Among the channels offered are Sky Sports, Sky Movies, various Discovery Channels, and much more.

All of these channels require paid subscriptions which cannot be paid for in Bitcoin under regular circumstances. Do not be mistaken in thinking this service will buy the account on your behalf to make sure you can operate within the terms of the agreement. They are either using illegal streams – which can be found on the internet for free – or they resell hacked accounts.

It is not the first time services like these appear. Not too long ago, several people in Spain were arrested for offering a similar service. They used it as a front to launder money, and all of the service’s users had their information recorded. While it remains unclear if they will receive a visit from the police, there is no reason for Bitcoin users to take unnecessary risks.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.