The world of finance has been abuzz with Bitcoin for years. Are you still not sure how to use this digital currency? You’ve come to the right place! Our goal here is to provide you with some basic tips on how to get started using Bitcoin immediately.
1. Select a wallet for your Bitcoins
You must first find a wallet where you can keep your Bitcoin before you can use it to pay. The Bitcoin bank account acts as your Bitcoin wallet, where you can store, send, and receive funds. Crypto wallets can be found on the web for free, and they all work well on both desktop computers and mobile devices. All you need to do is create an account using your personal details.
2. Buying a Bitcoin
Once your online Bitcoin wallet has been set up, it’s time to buy some Bitcoins. There are several cryptocurrency exchange companies that you can use to buy Bitcoins. Make sure you do your research and secure the best possible price for Bitcoin.
You can purchase Bitcoins with a credit card or a bank account. Providing the exchange service with your Bitcoin wallet address is all it takes to complete the transaction.
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3. Start using Bitcoin as a payment method
If an online merchant offers Bitcoin payment options, you can copy their Bitcoin address and paste it into a designated field on your wallet. Fill out the payment box with the right amount of Bitcoins and click ‘send’. Ensure you always enter the exact amount as displayed in the payment window. You should be able to complete the transaction very quickly. You’ll be glad to learn that Bitcoin is accepted by most online merchants and services.
What is the process for using Bitcoin at Scan?
You can choose to pay with Bitcoin during checkout by clicking the “Complete order with Bitcoin” button. This will take you to BitPay for payment. The value of your order will be converted to Bitcoin using the latest crypto exchange rates by BitPay. The exact amount needs to be paid within 15 minutes. The QR code can be scanned, or the Bitcoins can be transferred to the wallet address shown. Once completed, you may need to click the refresh icon to see that your payment is complete. Note: If you make an under or overpayment, we will not be able to process your order. If this is the case, contact customer service to ensure your Bitcoins are returned to you. After the payment has been completed, the Bitcoin network will confirm your transaction. We require six confirmations before picking and despatching your order. This may affect our ability to ship your order on that particular day. If your order does not receive a confirmation within one hour of payment, then your payment will be declined. The next steps to rectify this situation can be found by contacting our payments team.
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What is the procedure for canceling an order?
If you contact our customer service team, they will cancel your order, and you will be refunded. For details on how refunds work, see the “How do refunds work” section.
What are the refund procedures?
During the refund process, BitPay will convert your Bitcoins into GBP at the BitPay exchange rate provided at the time of the refund. Please expect this process to take a short time.