Online shopping

How to use bitcoin to shop online | The Guardian Nigeria News

Today, several online stores allow their customers to pay for goods and services in Bitcoin. Here’s how to shop online with Bitcoin.

E-commerce is a sector that has increasingly benefited from the Bitcoin revolution. Several merchants have already integrated crypto into their systems, allowing customers to use Bitcoin as payment for various online goods and services. Bitcoin’s transparent, inexpensive, secure, and instantaneous cross-border transactions have made it a more trusted means of payment than fiat currencies.

There are many goods and services you can now buy online with Bitcoin, including apps, games, devices, airline tickets, hotel reservations, groceries, plastic surgery, and newspapers. Search engines like Spendabit can help you find the millions of products available online for purchase with Bitcoin. You can also use BitcoinWide.com to see the different companies and organizations that accept Bitcoin around the world.

Using bitcoin for online purchases is as easy as credit cards, but it only works if the store you intend to buy from accepts bitcoin as a form of payment. Nevertheless, here is how to make online purchases with Bitcoin.

Choose a bitcoin wallet

Bitcoin users must have a valid crypto wallet to spend the coins. The wallet serves as a bank account, but it does not store Bitcoin. Instead, it stores the private keys used to authorize transactions. Several free Bitcoin wallets exist online that you can download and install on your smartphone or desktop computer. However, some charge a fee. But there is no need to go through this step if you already have a Bitcoin wallet.

Buy bitcoin

After setting up a crypto wallet, the next step is to acquire Bitcoins which you will use to make purchases online. There are different ways to get bitcoin including mining, bitcoin faucets, affiliate marketing, and trading. However, the latter is the most convenient option. Crypto exchange platforms such as profit in bitcoins are the most trusted places to buy Bitcoin. Most of them will allow you to buy Bitcoins by bank transfer and credit card. However, remember that Bitcoin prices generally vary from one crypto exchange to another, so first compare the rates offered by a few platforms to buy cheap Bitcoin.

Find online merchants that accept bitcoin

You will only be able to use Bitcoin for online purchases if the merchant accepts Bitcoin as payment in their store. Bitcoin adoption has steadily increased in the e-commerce landscape, but some merchants are still not getting it. It is therefore essential to start by doing an online search to find global and local online businesses that accept bitcoin payments.

While most online merchants that accept bitcoin allow customers to purchase all of their products with it, some limit its use to specific items only. Thus, your research should also focus on the products available for sale online that you can buy with Bitcoin. For example, Microsoft only accepts Bitcoin purchases for a few items listed on its online store.

Choose the option “Pay with Bitcoin”

Online businesses that accept bitcoin list the option among their payment options. Clicking on the option will take you to a dedicated payment window where you need to enter the transaction details. Details may vary, but standard requirements are your wallet address and the amount of Bitcoin equivalent to the value of goods and services purchased. The website will automatically calculate and display the amount of Bitcoin you need to transfer to the merchant on the payment window. Fill in the indicated fields and click send, then wait for the prompts. The transaction will generate an invoice or QR code to confirm the transaction.

Bitcoin allows you to buy different goods and services from multiple online merchants around the world at your convenience. The guidelines above will help you navigate the complexities of using Bitcoin for online purchases.