If you have finally bought Bitcoins you may wonder what you are able to do with these digital coins. The BTC price is after all quite high, so you could buy some wonderful stuff with this crypto. However, is this even possible? Yes, it definitely is! You can for example pay for a Tesla car with Bitcoin, while other shops have implemented this payment option as well. This way Bitcoin finally is what it was intended to be: a decentralized payment method.
On top of that, you could use the XRP price to buy products too. These two crypto coins, called Ripple and Cardano respectively, are not as widely used as Bitcoin, unfortunately. However, with the help of the steps mentioned below, you might be able to pay online with BTC and other cryptocurrencies.
Choose A Bitcoin Wallet
Before you can pay with Bitcoin, you need to find a wallet in which you can store the cryptocurrencies you own. This then acts as your Bitcoin bank account with which you can store, pay, and receive money. There are many free crypto wallets out there online and they usually work well on both desktop and mobile devices. See which one works best for you by trying every option out. Simply create an account with your personal information and you are all set to start shopping online.
These free wallets are usually online, but you could also buy a hardware wallet. This is much more secure, which is very important when you own Bitcoin or other cryptocurrencies. An online wallet can be hacked rather easily, which is not the case with a hardware wallet. Therefore, it is better to buy one of these, even though it is more expensive.
Buy Bitcoin Or Other Cryptocurrencies
After you have set up your online or hardware wallet, you can finally buy some Bitcoins. Of course, you might decide to buy other cryptocurrencies as well, which are known as altcoins. You can buy all of these digital coins by using one of the many cryptocurrency exchanges. In order to decide which one you are going to use you should do some research. On the internet, you will definitely be able to find the pros and cons of several exchanges, while you should also look into the ADA price for example.
This should be as cheap as possible, which is not always the case. Per cryptocurrency exchange, the price of the coin may vary a bit. After making a decision about the exchange, you can buy crypto with your credit card or through your bank account. Just provide the exchange with your Bitcoin wallet address and the transaction will be completed in minutes.
Start Paying With Bitcoin
As has been mentioned before, Tesla is one of the biggest companies that has given customers the option to pay with Bitcoin. However, Elon Musk’s company definitely is not the only company out there where you are able to pay for a product with the digital coin. Other (online) offers are already offering this option too. If you are able to pay with Bitcoin, you just have to copy their Bitcoin address and paste it in the appropriate field in your wallet.
Enter the correct amount of Bitcoins in the payment box and click ‘send’. Make sure to always enter the exact amount as shown in the payment window. The transaction should now be completed in a few seconds after you have confirmed it of course. This way you are able to pay for a new product with your crypto coins. Very useful.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.