How to pay using bitcoin?
It is clearly evident that bitcoin has become an essential component of the financial system. Crypto transfer has become a popular matter on the financial agenda. Despite the fact that Bitcoin has been around for more than a decade, there are still many questions about it. Now we will get across the major points and clarify the most multiple choice questions. We will also explain how to transfer bitcoin to a bank account.
We can focus on ensuring that when using Bitcoin as a payment cryptocurrency will be smooth and convenient. The first question that comes to mind seems to be "How to send bitcoin?" To begin with, you first must create a cryptocurrency wallet in order to conduct various transactions. With a wallet, you can receive bitcoin payments, purchase various cryptocurrencies, send bitcoin, and purchase goods and services. Use CoinsPaid or any other service to create a wallet.
You will receive your public bitcoin address once your wallet is complete, which you will need to make a bitcoin payment. You will also receive a private key, which will allow you to access the coins stored in the blockchain. Third parties must be kept in the dark about the true key. You can now begin accepting bitcoin payments.
How do I receive bitcoin?
Now we need to talk about how and where to transfer money to bitcoin and other cryptocurrencies. There are three most common ways to buy bitcoins:
- On a cryptocurrency exchange that supports fiat payments. First, you will need to pass KYC, in other words, the verification of your identity. Then it is possible to transfer bitcoin. Or you will just need to choose any amount of BTC, pay by card, and almost at once, coins will appear on your exchange account.
- Using the nearest bitcoin ATM. Bitcoin ATMs are becoming more and more common in Europe and the US, and for people living in big cities, it is a good solution, though the fees are higher than in exchanges. To use an ATM, you should:
- Use a map to find a bitcoin ATM
- Add money to bitcoin with your debit or credit card and you can also pay in cash
- Receive bitcoins to your wallet address
How to pay with bitcoin?
Here you are ready to start making your first purchases. In order to simplify the process, CoinsPaid has created a crypto-payment gateway. All you will need to do is:
- Select a shop or company that accepts payment in cryptocurrency.
- Select the required product or service.
- Click on the "Pay with Bitcoins" button and send bitcoin to someone.
- Copy and paste the public address of the shop to the "Send" tab of the bitcoin wallet. But you can do something simpler: use the link to send bitcoin to address directly.
Do you think that's a quite simple and intuitive way to pay someone in bitcoin? After you have completed the operations, the payment gateway will process your payment and you will receive your goods - proving that the process of sending bitcoins is intuitive enough.
The simplicity and utility of bitcoin transfers convinces great amounts of the population in Europe and the United States to track them down as a viable economic system, so you should not be reluctant to give it a shot.