When you hear about Bitcoin, usually it is associated with huge investments or crypto hosting services, but this is not the whole list. Because of the huge popularity of cryptocurrency, the areas of spending have also expanded. Now you can purchase lots of stuff and online services with crypto, keeping an eye on the bitcoin price aud to make informed decisions.
Here we will share 5 simple steps for purchasing stuff with cryptocurrency. If that sounds interesting, just continue reading and you will get lots of helpful recommendations.
1. Get Bitcoin or any other cryptocurrency
First, you need to register your account on a cryptocurrency exchange, there are several options to choose from such as CEX.io, Binance, Coinbase, and more. The variability of services is rather extensive so choose one that you like. The process of purchasing currency is rather simple:
– Create and verify your account.
– Link your credit card (depends on the exchange you have chosen)
– Purchase crypto.
Depending on the interface of the chosen platform, you may need several minutes to start purchasing. Usually, it is easy and even new clients won’t spend lots of time on the initial purchase of cryptocurrency.
2. Get a wallet
There are some discussions about the necessity of getting a crypto wallet because technically you can store your money on the exchange platform. However, for most beginners, the simplicity of wallets where you can buy and sell without an exchange, can be beneficial.
When talking about specific options, users have also got some variants such as Bitcoin Core, Coinbase, Coinomi, Mycelium, and more. Lots of processes of purchase are simplified in the wallets so it is a good idea to register one.
3. Check whether the store accepts crypto
Once you have created your account and get Bitcoin in your wallet, you should check whether your favorite stores accept crypto payments. If not, then find a website that offers a specific service/product and accepts such transactions. Usually, there are lots of platforms that have this option for their clients so you will need only a couple of minutes to find the needed resource.
4. Get a retailer’s account
When you find the product/service with the needed characteristics, usually it will be required to register your account on this website. Here you will need to fill in the basic information about the address of shipping, name, contact number, email address, and of course a password. After filling in this info, you will need to finish the registration by clicking on the confirmation link.
5. Payment process
Once you have registered your account and selected the needed product/service, you should review the purchase details and transfer the currency. The standard procedure of payment with cryptocurrency starts with opening the wallet and scanning the QR address. This will immediately import the address into your wallet.
That is it, now fill in the needed amount of currency and transfer it to the store.
Why should you consider crypto payment for usual purchasing?
Users choose cryptocurrency as a method of payment for a variety of reasons, and here are a couple of them:
– Quick payments. Of course, there are some debates about whether or not crypto transactions are so quick. However, if comparing international bank transfers with cryptocurrency, then you have an obvious winner. Crypto payment is a way faster.
– Anonymity. Cryptocurrency works in such a way that your personal details are not shared with anyone and are confidential.
– Safety. Cryptocurrency as a method of payment is fully safe, but when you are interacting with other resources and leaving your personal information there, it is no longer about crypto safety. That’s why, it is highly important to check the marketplace and its reviews before leaving any of your personal data.
– Decentralization. Crypto networks made the creation of decentralization possible. Now, no institutions or governmental organizations can control your selling, purchases, and investments.
– Cheap transactions. The standard thing when talking about bank transfers is that the fee fully correlates with the sum of money. The more currency you are transferring the higher the fees are. However, with crypto the situation is totally opposite. The fees are taken because of the network demand rather than of the size of a certain transaction.
This article has full instructions on how to purchase stuff with cryptocurrency. As you see, there are no difficulties and you just need to try it. A couple of steps are separating you from secure, anonymous, and quick online purchases. This process is better than others because of the minimal fees and decentralization approach. There is no interference from governmental organizations and no one can track your online transactions as easily as with bank transfers.
There are thousands of products and services that can be purchased with cryptocurrency. The list of purchases can be really long and it may include absolutely anything starting from mobile phones and ending with real estate.