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Author Topic: How do I accept a Bitcoin payment, starting from scratch?  (Read 570 times)
j0equ1nn
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September 10, 2016, 01:04:30 AM
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I have some money that I won on an online gambling site. Unbeknownst to me at the time, they make it very complicated to cash out by setting high minimums, commissions, etc. and offering sketchy-looking venues to transfer my money to. One point: them.

The most economical way of getting my balance back from them is to accept a Bitcoin payment. However I have never used Bitcoin before, and know nothing about it other than some stuff my friend Jeff told me on the subway one day...

So my question is, what is a straightforward step-by-step methodology to set up whatever interface I need, get whatever account/address I need, and then accept a payment in the form of Bitcoin? I'm okay with the fact that I have no idea what to do with it next. I can figure that part out later. I'm also aware that having money in this form can be unstable and am okay with that risk. Really I just don't want my money to be lost to that gambling site that tricked me ... and I'm into the idea of getting marginally involved in this interesting technology.

When I search for answer to my question online, I see instructions for how to move one's Bitcoin addresses from one place to another. And I see some very technical, increasingly complicated explanations of how the whole technology works. That's all great but for now I just want to know what to do. I installed the app Bitcoin Wallet on my phone, but I'm not seeing any option on that to generate an address, or display an address for me to provide to the people sending me the money.

Thanks in advance.
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September 10, 2016, 01:08:31 AM
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Most wallets have something like "Request coins" or "Receive Bitcoin". These will usually generate an address for you, along with some other info. You aren't actually going to get any Bitcoin just by "requesting it". If you don't see an address. There's usually something like "Address book". Make sure you find the addresses listed as "My addresses" or "Receiving addresses". Just copy an address and paste it into the site wherever they need you to in order to withdraw.

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September 10, 2016, 01:33:16 AM
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Okay, I'm going to make this really simple for you. I'm guessing you don't have a very large balance to protect, so I don't need to go into the complexities of how to choose a great, secure wallet. For your needs simply do the following:

1. Go to http://blockchain.info
2. Click the top link that says 'Wallet'
3. Click on 'Create a Free Bitcoin Wallet'
4. Enter your email address and choose a password
5. Click the link saying 'Start Receiving Bitcoins'
6. Copy the address shown - A bitcoin address is a series of numbers and letters that looks like this:  1uRVxrmvmDggwnmXdJWHhLiov7vhEfRfo
7. Give your copied Bitcoin address to anyone who will send you bitcoins

That's it! Congratulations, you can now receive and send your bitcoins easily. You will receive a link at your email to log back into your Blockchain.info wallet with your password. Also note, that instead of usernames Blockchain.info assigns Wallet IDs which are a series of numbers and dashes. So you can use your Wallet ID and password to log into your Blockchain.info account. That bit can seem a little unexplained or hidden.

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j0equ1nn
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September 10, 2016, 01:38:00 AM
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Thanks @achow101 for the quick reply. I think I solved the problem now. The directions from @Coinster look pretty straightforward too, but for anyone trying to do this on a phone and having similar problems, here's what happened with me...

In Bitcoin Wallet, there is indeed a button for "Request Bitcoins," but pressing that does not result in an address being generated. It gives a QR code and says "Have this code scanned by the sender." It completely ignores the possibility that the sender might not be sitting across the table from me, which seems dumb. I also have an "Address Book" in that app, but it is blank.

I then installed GreenBits, but when I opened it, it did nothing but display its own logo indefinitely.

I then installed Mycelium. In this, when I press the "Receive" button, it gives a QR code which can be scanned, but also provides an address in the form of a long list of letters and numbers. I entered that into the "Bitcoin address" field of the form online, at the website from which I am attempting to withdraw funds, and it went through.  ...at least, it says my request for funds has been processed (when I tried entering other things early it gave error messages).
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September 10, 2016, 01:51:36 AM
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I then installed Mycelium. In this, when I press the "Receive" button, it gives a QR code which can be scanned, but also provides an address in the form of a long list of letters and numbers. I entered that into the "Bitcoin address" field of the form online, at the website from which I am attempting to withdraw funds, and it went through.  ...at least, it says my request for funds has been processed (when I tried entering other things early it gave error messages).

Yeah, different wallets behave differently! Sometimes an 'Address book' means different things, and 'Request bitcoins' doesn't show an address directly or conveniently. That's why I suggested using Blockchain.info. It's straightforward and lets you view all details about your wallet and transactions conveniently. It also displays your wallet address in both the standard form and as a picture QR code (which as you mention is for giving to people directly in front of you). You also don't lose your coins if you lose your phone.

One more note... A cool thing about Bitcoin is all transactions happen on a public blockchain. That means anyone can view any details about transactions. So to check the status or your pending transaction go to Blockchain.info and in the top search box paste your address from Mycelium. You will then see an updated list of any transactions, both incoming or outgoing. So you can see if that gambling site is actually sending out your coins.

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September 10, 2016, 03:06:10 PM
 #6

I have some money that I won on an online gambling site. Unbeknownst to me at the time, they make it very complicated to cash out by setting high minimums, commissions, etc. and offering sketchy-looking venues to transfer my money to. One point: them.

The most economical way of getting my balance back from them is to accept a Bitcoin payment. However I have never used Bitcoin before, and know nothing about it other than some stuff my friend Jeff told me on the subway one day...

So my question is, what is a straightforward step-by-step methodology to set up whatever interface I need, get whatever account/address I need, and then accept a payment in the form of Bitcoin? I'm okay with the fact that I have no idea what to do with it next. I can figure that part out later. I'm also aware that having money in this form can be unstable and am okay with that risk. Really I just don't want my money to be lost to that gambling site that tricked me ... and I'm into the idea of getting marginally involved in this interesting technology.

When I search for answer to my question online, I see instructions for how to move one's Bitcoin addresses from one place to another. And I see some very technical, increasingly complicated explanations of how the whole technology works. That's all great but for now I just want to know what to do. I installed the app Bitcoin Wallet on my phone, but I'm not seeing any option on that to generate an address, or display an address for me to provide to the people sending me the money.

Thanks in advance.

Bitcoin is virtual digital currency. Also it is very safe and secure. So you have to take it very precautionaly as all transaction are in one way and its hard to find identity behind it.

So choose any of secure wallet to receive your amount of bitcoin to your own wallet. Just google it for 'Pocket Bitcoin Guide'. Where you can find appropriate information.

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September 10, 2016, 06:00:42 PM
 #7

It is a mostly automatic process. You just need to generate an address with a client and use that address at withdrawal. You should just wait until the transaction gets confirmed. At a HD wallet, you may have to synchronize your wallet with the network to have the BTC in your HD wallet. At most online wallets, they do it for you.


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September 10, 2016, 06:10:05 PM
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I recommend to use wallet is electrum than in any online wallet so that you are safe.
There is no scratch for bitcoin for receiving and sending bitcoin if you use bitcoin its just like in paypal but the difference there is no reverse payment and the fee is low..


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