Investing in cryptocurrencies like Bitcoin has become very popular in the U.S. recently. In fact, most Americans who have bought Bitcoin have done so for investment purposes.
But it’s worth noting that you can also pay for things with Bitcoin. When you pay in crypto, you’ll send Bitcoin directly to another individual or business in exchange for goods and/or services.
Would you like to learn how to pay in Bitcoin for things? If so, it’s a lot easier to do it than you might think. You can start spending cryptocurrency in a matter of just minutes to those accepting crypto payments.
Today, we’ll outline the steps you need to take to make Bitcoin payments to other people and businesses. Check out these steps below.
Get a Cryptocurrency Wallet
Just like you keep cash in a wallet that you put into your pocket, you’re going to put Bitcoin in a digital wallet you keep on your smartphone. You’ll be able to utilize this wallet to send and receive Bitcoin whenever you want.
The good news is that there are lots of different cryptocurrency wallets available in this day and age. The bad news is that you will have to spend time researching each option before choosing one.
You should do your homework on the different crypto wallets and decide which one you like best. Ideally, you’ll want to find one that doesn’t charge high fees and is very easy to use.
Put Bitcoin Into Your Crypto Wallet
Once you have a crypto wallet on your smartphone, you’ll need to put Bitcoin into it. It should be simple enough to do this.
In most cases, you’ll be able to connect your crypto wallet directly to your bank account. You can then use your bank account to convert cash into a cryptocurrency like Bitcoin.
After you have your crypto wallet and your bank account connected, you should be able to secure Bitcoin in no time. More often than not, you’ll be able to do it pretty much on the spot so that you can send Bitcoin to someone.
Your crypto wallet should be very secure. But a lot of people will choose not to keep too much crypto in a digital wallet for too long in an attempt to protect it and keep it safe.
Find Out the Crypto Wallet Address for a Recipient
Every crypto wallet will have a crypto wallet address. You will need to get the address of the person or business that you’re planning to send crypto to before you can pay for something in Bitcoin.
Crypto wallet addresses are always very long. They include more than 40 characters and will be impossible for the average person to memorise.
So you should try to copy and paste a person or business’ crypto wallet address when you send Bitcoin to them. You do not want to make a mistake when sending crypto to someone since Bitcoin will disappear once it leaves your wallet. You won’t be able to get it back in most cases if you happen to send it to the wrong address.
Click On the “Send” Button in Your Crypto Wallet
After you have the crypto wallet address for a person or business, you can click the “Send” button in your wallet. This will bring up a screen that will ask you for the address.
You can paste the address you’ll be sending Bitcoin to on this screen to get a Bitcoin transaction underway. A good crypto wallet will make this part of the process as simple as possible so that you aren’t confused at all.
Enter the Amount of Bitcoin You Wish to Send
In addition to entering the crypto wallet address you’ll be sending Bitcoin to, you’ll also need to decide how much you want to send them. In most cases, you will send a fraction of a single Bitcoin to them since a Bitcoin is worth tens of thousands of dollars at this point.
You should ask a recipient how much Bitcoin you should send them to pay for a product and/or service. You should also double-check the amount they give to you to ensure you send them the right amount of Bitcoin.
Check (and Double-Check!) a Recipient’s Wallet Address
We know that we’ve already discussed the importance of ensuring you have the crypto wallet address for a person or business. But we can’t stress this part of sending Bitcoin to someone enough.
In the past, people have inadvertently sent Bitcoin to the wrong address when making a payment. Oftentimes, they’ve been unable to retrieve the Bitcoin they sent since there is no good way to trace it.
For this reason, you should check a recipient’s crypto wallet address and then double-check it to be sure you have it right. It’s better to be safe than sorry when sending a crypto payment to a wallet.
Make a Crypto Payment
As long as you’ve done everything else here correctly, you should be in the clear to push the “Send” button again for the final time. This will result in your wallet taking the Bitcoin you want to send and pushing it to a recipient.
A crypto payment might take a few minutes to go through to someone. But you shouldn’t wait too long for it to show up on their end.
You should check in with a person or business to make sure they got a Bitcoin payment from you. You will have successfully figured out how to pay in Bitcoin without a problem.
Before you know it, you’ll be making Bitcoin payments everywhere. You’ll really appreciate just how easy it can be to provide someone with a crypto payment without too much effort on your part.
Another Option for Using Bitcoin to Pay Someone
Many people and businesses are starting to accept Bitcoin payments from other people nowadays. If you’re paying one of these people or businesses for goods and/or services, sending Bitcoin to them will typically be your best option.
But if you need to pay someone for something and they don’t have a crypto wallet or aren’t accepting crypto payments, you’ll have another option you can use. You can get cash from a crypto ATM and hand it over to them.
So, how can you change crypto to cash? Well, the first thing you’ll need to do is locate a Bitcoin ATM in your area. This page will help you find one.
From there, you will then have to sign up for an account at a Bitcoin ATM, which should only take a few minutes at most. You will also need to connect your crypto wallet to it so that it knows how much Bitcoin you currently have.
When this is finished, you should be able to take Bitcoin from your digital wallet and convert it into cash. A Bitcoin ATM will spit out cash for you in exchange for your Bitcoin, and it’ll do it instantly.
You can then turn around and pay a person or a business for goods and/or services. Even though you won’t be giving them Bitcoin, you will pay them with cash converted over from crypto.
Don’t be afraid to tell them about the steps you must take to pay them with crypto. It might make them more interested in obtaining a crypto wallet so that they can start accepting crypto payments from people from now on.
Understand How to Pay in Bitcoin Before Doing It
Knowing how to pay in Bitcoin might seem like it would be complicated. But it’s much simpler to send Bitcoin to a person or business than you may have been led to believe.
All you’ll need to do is follow each of the steps listed here to go through the process of spending cryptocurrency. It’ll become second nature before long, and you’ll love how easy it can be to pay people and businesses with Bitcoin.
Would you like to better understand Bitcoin by reading more crypto articles? Look for them by poking around on our blog.