A guide in BitCoin payment when shopping online & a basic guide in using Bitcoin as your safe payment in any merchant online stores that accept BitCoin. Many people especially in United States might wondering how to use Bitcoin as their payment in online shopping. There are rumors that Amazon will soon accept Bitcoin payment. But the problem is how can we do that?
First of course, you must have a Bitcoin wallet. BTC wallet can easily created for free but it requires verification. When verifying your BitCoin wallet, you must upload a proof of identity such as government IDs and proof of address. If you are in United States, you can create a BitCoin wallet in CoinBase and if you’re residing in the Philippines, create a wallet at Coins.ph
How to Use BitCoin Payment?
Assuming you have already created a Bitcoin wallet, you have already buy Bitcoin (or already traded Bitcoin to USD or peso i you’re in the Philippines). You must know exactly your Bitcoin wallet address. It BTC wallet address looks like this.
But that address has nothing to do with shopping online using Bitcoin. All you need is to use the BTC address of your transaction, and fund BTC to the BTC wallet address given by the merchant (online store).
Example:
You want to buy electronic gadget and it cost $100. $100 may converted to Bitcoin. It can be 0.02 BTC for 100 USD. See the previous price of BTC to USD here.
You must pay 0.02 BTC using the BTC wallet address given by the online store. After you transferred 0.02BTC to the BTC wallet address gave to you by the online store, you must confirmed it. Shopping using Bitcoin payment might be confusing for first time user. But it can be convenient when you use Bitcoin payment.
You can easily find out if the online shopping store accept Bitcoin payment or not by looking at the payment options. See example. When I bought a hosting package and domain name for my website.
And then just choose Bitcoin, click the Bitcoin logo and you will be redirected to Bitcoin wallet address. Once you completed the payment, you will receive a notifications (you should be), in your email and in your phone.
Tips and Warnings
- Be aware of the charges and fees of your Bitcoin BTC wallet provider.
- When shopping online, shop only to legitimate online stores. Read reviews of other people who already experienced buying items online especially in Amazon using BitCoin payment.
- Protect your BTC wallet by changing your password regularly or using hard to guess password. Also enabling two-factor authentication is useful in protecting your Bitcoin funds.
Let me know if you already use Bitcoin payment when shopping online. Here in InvestmentTotal.com, you can read many guides not just about Bitcoin but all about other cryptocurrencies as well. We have discussed Bitcoin, Ripple, Ethereum, Dash, Zcash, Litecoin and Monero in this website. Share this article with your friends and do not forget to share your experience in using Bitcoin payment .
DISCLAIMER: The information provided on InvestmentTotal.com is for general informational purposes only. The content on this website is not intended to be, and should not be construed as, professional financial advice.