26 March 2020, 10:03
2 min reading
Bitcoin emerged from the need of a currency that wasn’t controlled by a central authority. One that can be used to pay for goods and services. First, people were using it for Pizza (not really a wise decision). Today, Bitcoin can get you so much more than a pepperoni slice. In this article, you’ll learn
Bitcoin emerged from the need of a currency that wasn’t controlled by a central authority. One that can be used to pay for goods and services.
First, people were using it for Pizza (not really a wise decision). Today, Bitcoin can get you so much more than a pepperoni slice. In this article, you’ll learn how to buy with Bitcoin anywhere.
Nowadays, you can pay with cryptocurrencies in almost any shop. While there are plenty of retailers that do not accept cryptocurrency directly, you can use an alternative Bitcoin payment method like a debit card to turn BTC into cash whenever needed.
Using a Bitcoin debit card is probably the most comfortable way to pay since it is a widely accepted method and the shop owner will receive fiat currency. That said, it’s important to find a card that offers good exchange rates and it’s available in your country.
Blockchain technology makes Bitcoin payments transparent. All transactions are recorded on a public distributed ledger. In other words, anyone can find a transaction there. But… is that enough to guarantee safe payments? Short answer: no.
If you transfer $100 from your bank account to an unknown seller, you’re taking a risk. The same logic applies with digital currencies. However, there’s a difference. Transferring fiat money isn’t a straightforward process as money usually moves through a complex network of intermediaries until it reaches its final destination.
That payment window gives you the ability to block or cancel a transaction in case something goes wrong. With Bitcoin, there are no intermediaries and transactions go straight to the other end. That said, getting funds back could be challenging if not impossible. Before paying with Bitcoin, always double check the following:
Paying with Bitcoin with a mobile wallet is the go-to choice if you’re dealing with either a person or business that accepts Bitcoin as a payment option.
The first step is to open a wallet. The Crypterium Wallet is available for both iOS and Android devices, as well as any browser. Regardless of which wallet service you choose, always make sure the service is free, secure and compliant with regulations.
If you’ve downloaded the Crypterium Wallet on your mobile device, your BTC address is automatically generated and you can quickly find it by clicking on “Top up”.
If you intend to purchase something with Bitcoin, you’ll need Bitcoin. Smart, right? There are two basic ways to load your wallet, you can either transfer funds from another wallet or you can purchase some.
Hopefully for those using the Crypterium Wallet, you can buy BTC with a debit or credit card effortlessly, with instant BTC delivery and the lowest commission on the market.
Regardless of which cryptocurrency service you’re using, the final step is always to enter the wallet address of the receiver. As previously outlined, you can enter it manually on the wallet app or scan the QR code.
Crypterium offers a different approach to smooth the process. Instead of entering the wallet address of the seller, you can input a mobile phone number or select a contact from your phonebook.
The seller receives a SMS with a link to a brand new Crypterium Wallet loaded with the funds. Then, he or she can decide whether to keep them there or do something else with them.
Using a Bitcoin debit card is strongly advised when the seller does not accept Bitcoin. In this case, a crypto debit card allows you to easily convert your digital currency into fiat money.
Nowadays, there are several companies offering Bitcoin debit cards. Choosing the right one for you will largely depend on three factors: where you live, which currencies you use, and how much you are willing to pay for it. You can compare the available payment options using this tool.
If you’re planning on ordering the Crypterium Card, simply go to the ‘Card’ section to apply for a card. At the moment, you can choose between a UnionPay and Visa card. Our cards are available in more than 200 countries.
Once you have a card, it’s time to load it with Bitcoin. For Crypterium Card holders, the top up process takes only a few taps to complete.
In the ‘card’ section, click on ‘load’ and enter the amount of BTC (or other cryptocurrency) you would like to top up. The BTC is exchanged to U.S. dollars using a competitive exchange rate.
Paying with a Bitcoin card feels exactly the same as paying with any other card. If you’re shopping online, you’ll need to enter the payment details. For physical stores, payments are processed once you swipe or tap the card at the POS.
The Crypterium Card offers a virtual card which is ideal for buying with Bitcoin online. The plastic cards (UnionPay and Visa) are equipped with NFC technology.