How to pay with crypto currency
What is the process for paying with cryptocurrency?
This article will explain how you may purchase your first cryptocurrency as well as complete a payment on our website.
What is cryptocurrency?
Cryptocurrency is an electronic form of currency that exists solely online and does not involve a bank. As long as both parties have a computer connected to the internet they can send cryptocurrency electronically from one digital address to another instantaneously and securely.
As for which types of cryptocurrencies are most commonly used they are: Bitcoin (BTC), etherium (ETH), Tether (USDT) and usd coin (USDC). We will clearly identify which cryptocurrency to use, the amount to send, and the wallet address where to send it during the checkout process.
Step 1 — purchase your first cryptocurrency
There are three basic methods to obtain your first cryptocurrency based upon your preference:
- Option 1 — Exchanges
Exchanges provide the most reliable means of purchasing cryptocurrency. Many Exchanges are very user friendly and are available in several languages. Some examples of reputable Exchanges include Coinbase, Binance, Kraken, and Crypto.com. To begin, you simply sign-up for the exchange and validate your identity, add a card or bank account to fund the exchange, and then you can buy cryptocurrency. All of the above-mentioned Exchanges are regulated and also have customer support available if you need assistance with something.
- Option 2 — card payments
Platforms such as MoonPay, Ramp Network, Simplex, and Banxa enable you to make purchases of cryptocurrency directly using your debit/credit card. The amounts of cryptocurrency you wish to purchase will depend upon the limits placed on your card. Once you’ve selected the amount of cryptocurrency you would like to buy, simply enter your payment details via your card or Apple Pay / Google Pay. After this process is completed, your chosen cryptocurrency will be transferred to your wallet. In comparison to Exchanges, fees associated with card payments are somewhat higher; however, they do represent the quickest way to acquire cryptocurrency.
- Option 3 — peer-to-peer platforms
Peer-to-peer platforms allow you to purchase cryptocurrency from other individuals. For example, Binance P2P, Bybit P2P, and OKX P2P. When using p2p platforms, you are able to select a seller and pay for the cryptocurrency via bank transfer or a similar local method. Upon confirmation that you have made payment, the cryptocurrency will be released into your possession. Although rates are generally lower compared to traditional Exchanges, be sure to select sellers with high reputation ratings and histories of successful trades.
Step 2 — obtain a personalized wallet
It is possible to pay directly from an exchange; however, having a personalized wallet provides you with total control over your funds. Beginner-friendly options for wallets include: Trust Wallet, MetaMask, and Exodus.
Once installed, create an account within the wallet software. Immediately after creating your account, please write down your recovery phrase and save it in a secure location. Please remember to never disclose your recovery phrase to anyone. Anyone who possesses your recovery phrase has total access to your wallet.
Step 3 — make payment
To make a payment via our platform, navigate to the checkout section and select “pay with crypto”. Identify the cryptocurrency listed, copy the wallet address provided, and access either your wallet or exchange. Select “send”, enter the copied wallet address, input the exact amount shown in the field provided, and confirm the transaction. Following confirmation of your transaction, processing of your order will occur automatically — typically within 1–30 minutes.
Important items prior to sending funds
Keep in mind that cryptocurrency transactions cannot be reversed. Due to this fact, prior to making a cryptocurrency transaction — always verify:
- you are sending the correct type of cryptocurrency;
- you are sending the funds on the correct network;
- you are sending the funds to the correct wallet address.
Small errors while making a transaction could result in loss of funds — forever.
Frequently asked questions
- What type of cryptocurrency should i use?
Use whichever cryptocurrency is displayed at checkout on our website.
- Why does the value of my cryptocurrency seem to constantly change?
Prices fluctuate continuously with respect to all cryptocurrencies due to their volatile nature. Always ensure you are sending the exact amount shown at checkout when you are making your transaction.
- Are there any additional fees?
Yes — each block on the blockchain includes a relatively small transaction fee. None of this goes to us.
- What happens if i mistakenly send too little or too much cryptocurrency?
If you incorrectly transmit the amount of cryptocurrency intended for a payment contact our support staff along with your txid (transaction id) and we will work together to resolve any issue resulting from incorrect transmission.
Additional safety tips
Always use verified Exchanges or accepted payment service providers. Double-check that you have entered the correct wallet address before confirmation. Under no circumstances should you share your recovery phrase with anyone. Try to avoid sending cryptocurrency via public networks while using public networks. Lastly — if an opportunity seems too good to be true it probably is.
Require assistance?
If you require assistance with completing a payment using cryptocurrency and/or need assistance with general usage guidelines please do not hesitate to contact our support staff — we will assist you every step of the way