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Author Topic: [Information and Guide] How to pay with Bitcoin and where to use it.  (Read 116 times)
Krislaw
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December 02, 2019, 07:12:08 AM
Last edit: December 03, 2019, 06:54:17 AM by Krislaw
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 #1

What is Bitcoin?
-According to Wikipedia Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

How does it works?
-Based on bitcoin.org Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Here are the questions that this topic will answer:
  • How can I use it?
  • Can I buy things with it?
  • Are there any stores that accept it?
  • How many countries accept bitcoin as payment?



There is a survey that shows what is the most popular payment method and it's kinda interesting because I saw that someone uses Cryptocurrency as a method of payment. The Kaspersky Lab Global IT Security Risks Survey 2018 is a study into the state of consumer attitudes towards their money and financial security online.

Kaspersky surveyed 12,448 consumers in 22 different countries.



We all know that there is someone that uses bitcoin to buy a pizza but it's not direct and uses third party to order the pizza but now just look where the crypto has come, we can now buy stuffs with cryptocurrency that we have but mostly they only accept bitcoin.

Bitcoin is very easy to use and for me, it's very accessible and easy to buy but it's costly
  • Set Up your Bitcoin Wallet- This is where we should store the bitcoin, but there are many types so choose an appropriate wallet.
  • Purchase and Transfer Bitcoin to your Wallet-There are some wallets that you can convert cash directly which is very convenient, and there are exchanges where you can trade bitcoin.
  • Trade using your wallet- And lastly you can use and transfer the bitcoin in your wallet.



Bitcoin as a method of Payment

Pros
-User identity protection
-No third-party intervention
-Low transaction fees, compared to other payment methods which are 2% or 3%.
-Quick and safe international payments
-Lower fraud risks for buyers, because there is signature verification in bitcoin and it's a direct peer to peer transaction.
-It's very accessible and very easy to use especially when using a mobile wallet.

Cons
-Susceptible to High Price Volatility
-No Chargebacks or Refunds



What can I purchase with Bitcoin and where?

There are hundreds and thousands of stores and retailers from around the world that accepts bitcoin as a payment and there are sites that help you and allows you to purchase different products with it. or the Bitcoin Products Search Engine.

-Spendabit (https://spendabit.co/)
-Spendbitcoins (http://spendbitcoins.com/)
-Overstock(https://www.overstock.com/)
-Microsoft(https://support.microsoft.com/en-in/help/13942/microsoft-account-how-to-use-bitcoin-to-add-money-to-your-account)
-egifter(https://www.egifter.com/bitcoin/?sscid=31k3_f587s)
-spending-bitcoin(https://spending-bitcoin.com/)
-Vultr(https://www.vultr.com/)
-Blocknance(https://blockchain.com.do/)


More list

https://www.cheapair.com/

https://steadyturtle.com/

https://www.savethechildren.org/us/more-ways-to-help/ways-to-give/ways-to-help

https://www.openbazaar.org/

newegg.com

https://www.gyft.com/

https://www.grayandsons.com/bitcoin

https://www.expedia.com/

https://www.bitrefill.com/

http://bitgigs.com/

https://www.bitdials.eu/

https://www.alza.sk/EN/




-How many countries accept bitcoin as payment?

-
Coinmap shows the availability of the stores that accept bitcoin in every country we can see Europe and America has the most stores that accept bitcoin.



How can I pay with Bitcoin?
-Online Purchase
-Peer to Peer Purchase
-Point of Sale purchase using Bitcoin Visa Prepaid Card
-Qr Code


https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/what-to-buy-with-bitcoin-and-how-to-pay-with-btc/
https://coinmap.org/#features
https://bitcoin.org/en/
https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/what-to-buy-with-bitcoin-and-how-to-pay-with-btc/
https://en.wikipedia.org/wiki/Bitcoin
https://www.moneycrashers.com/bitcoin-history-how-it-works-pros-cons/

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December 02, 2019, 10:44:05 AM
 #2

nice article.
It could be interesting, if you add stuff to the post, regarding the services require KYC or not. And then, if do you know if they log transaction or not.
thank you.

 
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December 02, 2019, 11:15:07 AM
 #3

-Low transaction fees, compared to other payment methods which are 2% or 3%.
Hmm I think this information is outdated. As of now, bitcoin has a higher transaction fees compared to any other cryptocurrency in the market. This makes bitcoin an impractical payment method for purchasing a small amount of goods.

People spend an average of $10 - $25 worth of bitcoin for their transaction. These transaction fees are given to the miners as a reward for their hardwork to include the transaction into the blockchain.

AFAIK, the solution for this problem is bitcoins Lightning Network.

 
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December 02, 2019, 11:39:39 AM
 #4

OP you can add another site, this is a relatively new page, but with almost 1000 links.

https://spending-bitcoin.com/
Official thread : Spending-bitcoin.com - The biggest directory of webshops accepting Bitcoin!

People spend an average of $10 - $25 worth of bitcoin for their transaction. These transaction fees are given to the miners as a reward for their hardwork to include the transaction into the blockchain.

Where you get those "updated info" about Bitcoin transaction? You can currently send a transaction to be confirmed in the next block for some $0.40, or just for $0.07 if you can wait for the next 6 blocks. It sure doesn't pay off if you're sending in a micro transaction of $1, but sending BTC can be considered quite cheap, especially when it comes to larger amounts.

We saw examples of several million-dollar transactions that were paid only a few dollars, try to do that with a bank.

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December 02, 2019, 12:16:24 PM
 #5

You can add two more sites in your lists.Bitrefill.com and blockchain.com.do
1. Bitrefill: Bitrefill is one of the best site for mobile recharge and online gift card.they accept more than 140+ countries for top up mobile balance. And I use it many time.
2.blockchain.com.do: I didn’t use this. But saw this website. They accept bitcoin for physical products.there are huge lists that you can buy.     

 
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December 02, 2019, 06:43:44 PM
 #6

One service provider that you can add to your list. VULTR.


Note:
For paying using bitcoin, you can only do it start on 2nd payment. On 1st payment, you still have to pay via other fiat payment methods (paypal /cc/wepay/alipay). For this crypto payments, VULTR is cooperate with bitpay to provide that services.

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December 03, 2019, 05:48:51 AM
Last edit: December 03, 2019, 06:44:12 AM by Krislaw
 #7

Thanks for the comments and suggestions, I have added some more website links and images. You can bring more suggestions under the comments sections but adding them to my thread will make it an unending list.

-Low transaction fees, compared to other payment methods which are 2% or 3%.
Hmm I think this information is outdated. As of now, bitcoin has a higher transaction fees compared to any other cryptocurrency in the market. This makes bitcoin an impractical payment method for purchasing a small amount of goods.

People spend an average of $10 - $25 worth of bitcoin for their transaction. These transaction fees are given to the miners as a reward for their hardwork to include the transaction into the blockchain.

AFAIK, the solution for this problem is bitcoins Lightning Network.

In Bitcoin, you don't pay certain amount of percentage of the amount you want to transact as fee. Bitcoin fee only rises when there's a lot of pending transactions.

8
♠  ────  BONUSES & PROMOTIONS  ────  ♠
$500kRUSH & CASH
MONTHLY
200%FIRST
DEPOSIT
$150kSHORT DECK
HOLD'EM
███
███
███
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███
███
███

███

███

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███

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December 03, 2019, 01:22:47 PM
 #8

Thanks for the comments and suggestions, I have added some more website links and images. You can bring more suggestions under the comments sections but adding them to my thread will make it an unending list.

You can create a spreadsheet where people can comment/send a message to it. After that, filter which one is working. So, you have a spreadsheet with 2 sheets & 1 online forms connected to it. This will make it easier to manage and filter the list.

People spend an average of $10 - $25 worth of bitcoin for their transaction. These transaction fees are given to the miners as a reward for their hardwork to include the transaction into the blockchain.

Do you mean $10 fees? Where did you get this number from? I never see congestion that requires you to pay $10 for a transaction in months now.

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December 03, 2019, 01:43:28 PM
 #9


Do you mean $10 fees? Where did you get this number from? I never see congestion that requires you to pay $10 for a transaction in months now.

Some payment gateways charge exorbitant amounts, such as BitPay.

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December 03, 2019, 01:50:40 PM
 #10


Do you mean $10 fees? Where did you get this number from? I never see congestion that requires you to pay $10 for a transaction in months now.

Some payment gateways charge exorbitant amounts, such as BitPay.

BTCpay is what we need.
It doesn't require a lot of fees and more convenient and essential to use than bitpay.

bitpay also have issues in this past few months, try to search about it.

https://btcpayserver.org/
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