Whether you want to pay for your a new car with crypto or you’re a business owner looking to use crypto to remit merchant invoices, spending cryptocurrency has never been easier. Ahead, we’ll go over the key things to know about quickly and securely paying with crypto, no matter what kind of user you are.
How to pay with crypto
Before paying with crypto, you must have some in a wallet. Creating a crypto wallet is relatively straight, with different types of wallets ideal for every type of user, from complete newbies to seasoned power users. After you create a wallet, then you’ll need to acquire cryptocurrency to spend. This can be done by buying your assets or having a friend send them to your wallet address.
Once you’ve acquired a crypto wallet with funds, the five main ways of paying with crypto include:
- Pay a merchant who accepts crypto payments
- Make a peer-to-peer (P2P) payment from your wallet directly to another wallet
- Use a crypto debit card to convert crypto to cash
- Use a solution like BitPay Bill Pay to make bill payments with Bitcoin
Paying a merchant invoice from your wallet
Thousands of businesses across the world accept cryptocurrency payments directly from your wallet. BitPay is the world’s top crypto payments processor, providing both customers and merchants with the freedom and flexibility to make and accept crypto payments from any wallet they choose. In all, BitPay supports more than 100 crypto wallets and hundreds of the top cryptocurrencies. Our BitPay Protocol does away with payment exceptions like over or underpayments, late payments and double spends, ensuring the smoothest and safest experience possible. Check out our Merchant Directory for a curated list of partner merchants that accept crypto through BitPay.
How to pay with crypto from your wallet
Paying a crypto invoice from your crypto wallet takes only a few simple steps.
Step 1: At checkout, select BitPay as your payment method.
BitPay is the safest and most secure way to pay online.
Step 2: Select Begin Payment.
Depending on the merchant you are paying or the transaction amount, you may be prompted to verify for BitPay ID. Don’t have a BitPay ID? Sign up to get started. BitPay ID is a simple way to manage your payments information with BitPay and simplify logins for multiple BitPay products. All that is required is an email and password. The one-time verification requirement is for people making BitPay merchant or prepaid payments of $3,000+, initiating refund requests for amounts of $1000+, or receiving BitPay payouts.
Step 3: Select your wallet.
BitPay supports over 100 of the most popular cryptocurrency wallets, including all wallets supported by Wallet Connect 2.0.
Step 4: Select your cryptocurrency.
Once you’ve connected your wallet, BitPay will automatically display available assets that can be used to pay a BitPay invoice. BitPay supports payments with over 100 of the most popular cryptocurrencies. Don’t see your preferred coin or token? Either BitPay hasn’t added support for that asset, or the merchant has chosen not to accept it.
Step 5: Pay the invoice
If using the BitPay Wallet to make a payment, you can choose to select “Pay in Wallet”. An invoice will be generated in your Wallet app from which you can complete the payment. Alternatively, scan the QR code with your wallet app or input the merchant’s receiving wallet info manually into your wallet to complete the transaction.You’ll see the payment reflected on the invoice instantly once you validate the payment in your wallet. Remember to send your payment during the 15-minute payment window.
