Bitcoin Payment Tutorial

[Hazing]

xartan okay. And it’s not that I think they’d try to put one past us. I was just thinking... there are two sides and they might be leaning somewhere that drastically benefits them. Because when in doubt, I think I always tend to just overpay. Lol. Or not say anything about a few dollar discrepancy. Which I don’t think I am going to start now. As long as it’s nothing major. A few bucks here and a few there? No big deal.

eta: I think you’re right. It’s probably not something I need to start worrying about st this time

 

[xartan]

I see what you mean.

 

[edwinkx]

it seems peculiar to me that a TD would give you the price of the watch in Bitcoin amt eg: 0.05BTC instead of $500.00

By quoting you a price in BTC TD is highly susceptible to the due fluctuations of the coin so unless the TD is interested to build BTC holdings for trading

 

[Duckber]

it seems peculiar to me that a TD would give you the price of the watch in Bitcoin amt eg: 0.05BTC instead of $500.00

By quoting you a price in BTC TD is highly susceptible to the due fluctuations of the coin so unless the TD is interested to build BTC holdings for trading

Not instead of the USD, but both. If I don't get told the BTC amount how can I meet their demands accurately? Doesn't make sense otherwise.

 

[CodyMHerrick]

Super helpful! Thanks for taking the time to put it together

 

[Thesystem3]

First step is to buy bitcoin and hold it for 2 years. Never spend your bitcoin you’ll regret it!!

 

[Ndagger]

Coinbase seems pointless, sets the buying limit to £50 per week can't see a way around it

 

[tabishmon]

Coinbase is confusing, how am I supposed to add funds? I can only receive BTC, and it's showing me qr code and wallet address, nowhere can I see card option

 

[fnf01]

So I'm an idiot, well thats harsh, but really you don't know what you don't know. So to buy my first rep I got it picked out messaged TD, figured I wanted to pay BTC, found this guide, put in order with TD, deposited funds to my coinbase, bought BTC, went to send BTC to TD and bam what do you know Coinbase has an 11 day hold on my wallet. I can use the funds I deposited to buy more crypto but to actually send it I gotta wait wtf. My understanding is because I linked a bank account (which to me should be instantaneous) there is a stupid long processing time. Now I can use the "pretend" money I've deposited to buy crypto but I can't send that anywhere until my "pretend" original deposit turns into real money in 11 days. But hey its not like BTC is volatile or anything so that couple hundred dollars should still be a couple hundred dollars in almost 2 weeks. Plus it won't piss off the TD now that I've made an order but can't pay them for it until 2 weeks. I guess the lesson is buy directly into BTC with a visa and not deposit "cash" to then buy BTC.

 

[StanleyKipski]

great read, just used bitcoin to make a purchase..

 

[voliviavv24]

.

 

[Madrya]

In fact, investing in cryptocurrency is a very interesting business. When I started to delve into it, I was a bit confused. Then, I met people who understand this field and they managed to explain everything to me. They even recommended Eclipcoin with which I work until this day.

 

[Silkyv9l]

For security purposes, I would highly recommend transferring your BTC from coinbase or whatever exchange you are using to a hot wallet before sending to your TD, especially if you have bank accounts linked or other assets stored on that exchange. You will have to pay the blockchain gas fees (aka transfer fee) 2 times instead of 1, but it's well worth the insurance of not having your accounts hacked. Do you research and make sure you understand the tools you are using. Plenty of information can be found with a quick google search.

 

[CF_Stan]

Thanks to the OP for this guide, it was very helpful.

I've just completed my first payment to a TD with Crypto. I used Coinbase, it was very straight forward.

Create an account and Verify
Add a money source - Bank or Card
Add money to the CB account
Purchase crypto
Send to TD's wallet address

For first time payments I recommend you send a minimal amount and request confirmation from the TD that they received it OK. Then send the balance.

I used Tether tokens, kind of by accident as that was the first option on the TD's payment page. However after reading a little about the different tokens I found that Tether is less volatile as it's value is linked to USD.

 

[wolfwood]

Thanks to the OP for this guide, it was very helpful.

I've just completed my first payment to a TD with Crypto. I used Coinbase, it was very straight forward.

Create an account and Verify
Add a money source - Bank or Card
Add money to the CB account
Purchase crypto
Send to TD's wallet address

For first time payments I recommend you send a minimal amount and request confirmation from the TD that they received it OK. Then send the balance.

I used Tether tokens, kind of by accident as that was the first option on the TD's payment page. However after reading a little about the different tokens I found that Tether is less volatile as it's value is linked to USD.

I am trying to buy USDT and pay with it to a vendor. I'm in Canada. Do I just sign up on Coinbase and buy the USDT with my debit or credit card?

 

[CF_Stan]

Yes as detailed above when setting up your CB account you will be prompted to add a money source, I used bank account but I think there is an option for credit card.

Once done you then transfer funds to your CB account and then use those funds to make your crypto purchase.

 

[MarkPark]

Advice requested - I have some BTC on an exchange (kraken, not coinbase). Is it safe/good practice to pay a TD directly from the exchange, or should I withdraw to a personal wallet first and then pay from there? Or does it make no difference? I suppose my concern is that exchanges may have blacklisted certain wallet addresses, or may monitor withdrawals and be able to use that information somehow.