So, you’ve started investing in bitcoin. Congratulations! You’ve taken the first step into the wonderful world of cryptocurrency.
However, now that you own some bitcoin, you may be wondering how to use it to pay an online merchant or physical business. The good news is that getting started using bitcoin instead of your credit card as a payment form is pretty easy.
Most bitcoin transactions can be carried out with just a few quick steps. Let’s follow along on this three-step guide on how to pay with bitcoins.
Step One: Select a Digital Wallet
The first step to using your bitcoin as a form of payment is to select a wallet. Your wallet is where you will store, send, receive, and manage your bitcoin.
You can find a cryptocurrency wallet application by simply browsing the Apple Store or Google Play. There are many different wallets out there, so be sure to pick one that has a platform that you like.
Congrats! You’re 1/3 of the way toward being part of a new movement. And, since Bitcoin could save the planet, you may be on your way toward being part of an environmental movement as well as a digital one!
Step Two: Purchase Bitcoin
Next, you’ll need to start filling up your wallet. You can use cryptocurrency exchange services to buy and sell your bitcoin.
These platforms are places where you can either sell your bitcoin for fiat currency or where you can purchase more bitcoin. They’re typically fast transactions that put bitcoin in your wallet quickly.
All you’ll need in order to get started is either a bank account, credit card, or another valid form of payment and your ID. Once you provide your wallet address, you’ll be able to complete your transaction!
Step Three: Pay Another User
Now that you’ve got a bitcoin wallet packed full of BTC, it’s time to find something you want to purchase. You’ll want to navigate to the online merchant’s page, place the desired item in the cart, and head to the payment portal.
Many large businesses accept bitcoin as a form of payment and will have the option at the checkout section of their site. From there, you simply need to copy their BTC address into the payment section of your wallet.
You’ll enter the amount of bitcoin you want to send them, confirm it, and then complete the transaction. Most transactions are completed in less than a minute.
Use Your Investments by Knowing How to Pay With Bitcoins
Paying with bitcoins is a great way of using your cryptocurrency in day-to-day life. By knowing how to pay with bitcoins, you can either choose to follow in the footsteps of one of the earliest bitcoin investors and buy pizza or you can put it toward something more long-lasting such as a car!
Whatever you decide, bitcoin can help you invest in your future. If you enjoyed this article, check out some of our other posts and learn more about cryptocurrency.