How to Pay with Bitcoin: Everything You Need to Know
Not sure how to pay with Bitcoin? Having troubles completing a Bitcoin transaction? Read this article and get all the information you need!
You can easily pay with Bitcoin online. There is no need to hand out important financial information and you don’t need to create an account. And yet, so many people are having troubles completing a Bitcoin transaction and most of them aren’t really sure how to pay with Bitcoin. In this article, we are going to provide you with all the information you need on how to complete a transaction or pay with Bitcoin. Let’s start:
- Get a Bitcoin wallet – The first thing you need to do is get a wallet. This is an app that allows you to receive, keep, and spend Bitcoins. When using a Bitcoin wallet app, it is important to use one that automatically calculates miner fees as these fees will help you ensure timely confirmation for all of your current and future transactions on the Bitcoin network. We highly recommend you to use the open source BitPay Bitcoin Wallet app. It is the best option you can use to pay BitPay invoices as it dynamically calculates miner fees and also supports all the essential advances in Bitcoin security. There are so many popular wallets out there. You can use the one you like, as long as it is reliable and secure and ensures successful payments to all BitPay merchants.
- Move Bitcoin to your spending wallet – Now that you know that Bitcoin wallet is an essential thing you must have, let’s continue to the next step. If you don’t have Bitcoins in your Bitcoin wallet, you will have to buy some. Bitcoin exchanges can be found all over the world. These exchanges allow users to convert any possible currency into Bitcoin and out of Bitcoin. Please keep in mind that every region and country is different, so before you choose a certain Bitcoin exchange, please do some research. For Bitcoin users in the United States, the BitPay app offers a smooth integration with Coinbase and Glidera allowing users to purchase Bitcoins right from the app. There is one thing you should know, exchanges and accounts don’t send the payments immediately, meaning they aren’t good for paying BitPay sellers. In order to avoid payment problems, we recommend you to withdraw your Bitcoin from the exchange to your wallet before you decide to spend it.
- Make a payment – Making a Bitcoin payment is extremely secure, it is fast, smooth, and convenient. In order to make a payment, you don’t need to enter any important credit card information. All you need to do is send the payment from the wallet app and that’s it. But, before you do anything, please keep in mind to send the payment during the 15-minute payment window. BitPay guarantees about the fixed Bitcoin price for a specific period of time (in this case, 15 minutes). So, please don’t send other payments to expired invoices. If you want to pay an invoice from your Bitcoin wallet, there are various methods to use:
- You can scan the QR Code – Scan the open and open the payment in your Bitcoin wallet. The wallet will lock in with the receiving bitcoin address and the total amount. Once it is locked, make the payment.
- Open in wallet – If the wallet is on the device you are currently using to check the invoice, open the payment in your Bitcoin wallet. Confirm that everything is ok, and the wallet will make the payment.
- Send the payment – Copy the URL from the invoice to your Bitcoin wallet, check the details, and if everything is okay, send the payment.
That’s it. This is everything you need to know when paying with Bitcoin.