How to pay with Bitcoins?

Introduction

Bitcoin today is an incredibly strong asset and it is not surprising that many people ask how to pay in Bitcoin, because more payment systems are implementing it and actively using it. We’ll try help you put everything in its place and get comprehensive answers.

Why has “How to pay in Bitcoin?” become the hottest question?

İn summer 2017, only lazy person wasn’t talking about cryptocurrency and wasn’t interested in how to pay in bitcoin. İf until then coin had only been used on darknet pay purchase and sale weapons, other illegal goods, after rate took off, people seriously began wonder: could cryptocurrency turn financial market around? How do you pay in coins and what can you buy?

Just two years ago, 99% workers would have wagged their fingers at their temples at suggestion get paid in cryptocurrency. But today it is quite realistic get BTC instead dollars for work. By way example, Evgeny Saveliev, CEO Huston Digital, works as an outsourcer and gets paid in cryptocurrency. Sergei Simanovsky, CEO blockchain-based social network Golos.io, lives similarly on cryptocurrency.

There are many examples when employees are paid in BTCs or Ethereum, but their labor is somehow connected with cryptocurrency, outsourcing. There are still no cases where vendor in Green gets paid in crypto. The reason for this is legislator’s attitude towards coin, prohibition on using it as a means payment. Yes, seller herself would be against receiving coin instead of rubles.

What is the superiority of crypto payment - the availability of its exchange it any currency of another country. What’s the downside? Cryptocurrency still has to be exchanged for fiat. Without this, it is impossible use it full extent, because there are few services that receive bitcoin payment.

BTC isn’t accepted by grocery store outside your home, though as a rule, BTC payments are more common among individuals than large companies.

How to pay with Bitcoins, who uses it?

BTC shopping isn’t much developed in many countries. But if one sets out to introduce a couple tenths coin into circulation, one could find many uses.

• Travel, hotels, airfare - If you have cripto-money in your pocket, how to pay in Bitcoin and fly other side world is no-brainer. Just one website, expedia.com, will allow you to book flights, lodging, and even car rentals coins. Cheapair.com/travelforcoins.com provide a similar service. And if you just need fly from one part country another BTCs, use airline AirBaltic.

• Restaurants, cafes - Wondering how to pay in bitcoin, whether or not anyone accepts BTCs at all, you probably expect to be able buy food and you weren’t wrong. Inspired by story Laszlo Hanjeks, who spent 10,000 BTC on two pizzas in May 2010, the guys started PizzaForCoins.com, where you can order pizza for cripto-money. You enter your city, choose possible pizzeria, leave an order, pay - a warm pizza by courier rushes to your home. You could eat for coin in Killfish, BurgerKing, restaurant “Valenok” on Tsvetnoy Boulevard, at Headquarters and Coffee in.

• Fitness clubs - You can pay a gym membership in NanoFitness and other fitness clubs. True, owners of the fitness club said that they had face police after they added Bitcoin payment methods. Since cryptocurrency is outlawed, lawmakers see BTC-deals as money laundering and avoidance tax. It is worth noting that owners of establishments do not mind paying taxes and introducing cryptocurrency to legal field, but now it is easier legislator to ban an unusual means payment than find competent regulation.

• Internet retailers - eBay, Amazon, FastTech accept cryptocurrency. Russian stores will accept BTC in Ulmart.

• Other goods/services - You can buy VPNs, Microsoft software products and applications in AppStore with Bitcoin. With help of cpay. io you could throw coin on your phone.

Does anyone from a legal entity accept this kind of payment?

Oddly enough, cryptocurrency is very popular with sole proprietors and private legal entities. Ask around, maybe your tattoo artist or manicurist accepts cripto-money payment and will tell you how pay in btc his services. It’s unlikely in small towns, but if you live in city with millionaires, this situation is real.

The reason this is ease use. You don’t need go to banks, write papers provide terminal, and sign contract to open and maintain an account. All you need to ask how to use Bitcoin pay is cell phone and internet.

Algorithm of how to pay for something with Bitcoin

Payment in BTCs is made directly from wallet to wallet. The cryptocurrency payment algorithm looks like this:

• The seller generates payment/creates a coin address.

• The buyer receives a coin address, pays product or service from his account.

As a rule, address is created as a QR code convenience. The buyer only needs to scan code and confirm payment.

The J2TX platform, which provides services in field of cryptocoins and carries out exchanges, purchases with minimal losses, because the deduction for transaction here is 0.95%. And additional opportunities inthe form of a blog with exciting content (at this point you can find out information and with regard to how to pay in criptomoney BTC) andthe opportunity to become a partner of the company - distinguishes it from competitors.

What kinds of goods and services can I buy with cryptocurrency?

Despite the fact that BTC is called a crypt, it is still not obvious that it is more preferable to use it - buying things, because you could buy something in a lot of other convenient methods. Ultimately, investors may see cripto-money as an option of saving, consimilar commodity.

However, if you really need it, you could already spend coins at Zynga, Overstock.com, Newegg.com, Expedia.com, several Microsoft Internet-platforms. If you’re planning to travel, CheapAir.com accepts cryptocurrencies for payment. The eGifter online store lets you buy present certificates from over than 180 brands BTCs.

You can also buy something more expensive, like reservation from Virgin Galactic, private space travel company owned by Richard Branson. The Montessori School at Walliron/SoHo, an elite preschool in Manhattan, receives BTC as tuition (which costs about $32,000 a year).

Professional sports have also been influenced in global fashion, with Sacramento Kings of NBA, San Jose Earthquakes Football Club receives coin payments for accessories and tickets to their fans.

Political parties also do not stand aside and take offertories through the Bit-Pay. The yearly limit allowed is $33,900, and who knows, maybe one day it will be equal to 1 bitcoin.

Q&A

1. After all, what is this Bitcoin!?

Generalizing as much as possible MTC is a P.O. program that creates a non-centralized peering (P2P) banking method that is not under control by be it a numerical council for example the Federal Reserve. Naming it numerical or crypto currency is correct, but now the bulk of investors do not use it pay for real things.

Instead, cryptocurrency is seen as a risky investment and invested in it in expectations of making profit. Large returns are possible (or maybe take a big loss).

2. What is the main wealth of such coins?

BTC’s price varies depending on supply and request (buy/sell transactions), like the same, for example, shares, but there is lot of discussion about what its value indicates. On paper, BTC’s value must demonstrate the faith and hope of investors in BTC as a future technology.

But in practice, investors for most part view coin as a product because of limited offer. Satoshi’s plan is eventually limit total number of cripto-money BTC to 21 mln. coins. So far 16.7 mln. BTC’s will be issued. A fractional number new coins are created each time miner loads block into blockchain, a prize for mining.

3. Is such a means of payment legal in general?

Formally, not yet (definitely not in US). Legal tender status funds that any lender is required by regional or national law to take currency as payment for debit. In U.S.,by way of example, sellers must take U.S. dollar, development it legitimate payment tender. The U.S. government permit coin transactions, but does not require that every manicurist, auto show, or restaurant take it for payment. They are committed to using dollars.

However, already now, countries such as Australia and Japan, like many other states, have approved BTC as a legal licensed method of payment.

4. What are we really buying?

We acquire the so-called digital access, which consists simply of a set of letters combined with diversity numbers, but which provides you with a unique record in BTC-enabled blockchain. We can hand over this asset to someone else at either bitcoin marketable price (minus operating fees).

5. Someone suggests buying bitcoin in installments?

Yep. 1 BTC is divided into parts to 8 decimal places, or 0.00000001 BTC. This is adequation 1 over a hundred million of coin. This fraction is called a satoshi (after nickname of BTC’s founder). If one coin is worth $15000, value satoshi will be 0.015 cents.

6. Is there anything other than scarcity on which its price is based?

On opinion of buyers/sellers about its value. Simply put, it is largely based on psychology.

7. Does this coin have any value other than that in which someone can make black mark deals and ransom payments?

Yes. Because BTC-translations can’t be tracked down, they are constantly used to carry out the purchase of illegal things like drugs, stolen goods, as well as the including financing of other areas of the underworld. But BTC also has legal uses, this kind of payment is permissible to apply in transactions with any seller, it is only important that he accepts this method.

Part investors view bitcoin as an investment - an asset with a long-term storage period, the price of which usually increases over the years. While this is trend that we have seen over the past few years, we nevertheless cannot be certain that BTC will retain its value in the long run.

8. If BTC inflated bursting financial bubble, will all cryptocurrencies crash or just BTC?

The sphere of the crypt, as time went on, took the right path - to move in the generally accepted unified direction. However, not each of the digital currencies is as closely coordinated with each other as it was even the same conditionally 2 years ago. On crypto index, you will notice the fact that the daily values are vastly different for over a 100 of the currencies being viewed.

However, an irregular traffic in bitcoin’s price usually “ripples the water” (that’s a pun if a situation arises that you do not understand: “ripple” or ripple, or ripple is the fourth highest market capitalization cryptocurrency) in the entire cryptocurrency universe. If coin sags by 90%, it is very likely that other cryptocurrencies will follow.

The real test will be which currencies can survive crash, just as Amazon, eBay, Price line outlived dot-com crash that wiped out hundreds of other companies.

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