Heard of HackerOne? If you haven’t the service allows companies (like Yahoo and Twitter) to allow white hat hackers around the world to dive deep into the coding of a particular service, and if they encounter bugs and vulnerabilities, are eligible to receive a payment for their hard word.

For example, if a hacker finds a serious bug or vulnerability in OpenSSL, they offer a minimum bounty of $2,500.

HackerOne has partnered up with San Francisco-based Coinbase to offer payouts denominated in bitcoin. Right now, payout methods include wire transfers and PayPal. But with bitcoin, users will received a payout significantly faster.

Not only that, the folks who choose to be paid in bitcoin will receive a 5 percent bonus, which will come from the savings on fees HackerOne is charged from their processors.

It’s an interesting development, and they are certainly targeting a tech-savvy community that may well be very appreciative of the new payout method.

No surprisingly, Coinbase just so happens to be one of the companies that make use of the HackerOne program in order to discover bugs and vulnerabilities . According to their page on HackerOne, there is a minimum bounty of $1,000. Fifty-nine hackers have been “thanked”, and they’ve closed eighty-four bugs.

To view the Coinbase post on today’s news, follow this link.