The purpose of this research will be to empirically determine whether using Bitcoin as a peer-peer currency payment option will help resolve the payment challenges being faced in Crowdfunding platforms. Payment processing companies such as Paypal and Amazon payments seem to concur that there are challenges in processing payments raised from Crowdfunding platforms to their accounts.

As companies promise to institute corrective measures that might take a while before they become operational and resolve the existing challenges, this study proposes to recommend an alternative payment solution, Bitcoin, which is a rather new virtual currency concept that aims to resolve the current challenges.

Crowdfunding has grown rapidly over the past few years and is expected to continue its growth pattern into the near future. Its recent emergence means that there are few sources of comprehensive data about the industry. Crowdfunding platforms operate within a complex regulatory framework that has evolved often in response to the fear of scandals and fraud incidences.

The use of Bitcoins will help address the limitations inherent in many online payment processing systems. Its advantages over such
payment processing platforms such as the speed of processing payments, no transaction fees, lack of chargebacks in Bitcoin transactions,
its inherent privacy support platform and not susceptible to inflationary pressures make it an ideal alternative in Crowdfunding payments.