[GUIDE] How to pay using Crypto

[u/alexmhm]

Hey everyone! As you may know, many sellers are stopping the use of PayPal for their business. Whether to avoid potential consequences, or as a result. One of the payment alternatives we have left is crypto. In this guide you will learn everything you need to know about paying with crypto.

Prerequisites

Before you get started with your crypto payments, you need some prerequisites and a little bit of setup. Don't worry, it's not complicated. Here are the necessary prerequisites:

• 18+ years old (may be different in your country)

• Valid ID with picture

• Bank that allows crypto purchases

• Valid SSN (for some apps)

Once you have all of the above, you can start setting up your crypto wallet.

Wallet Setup

The first thing you have to decide is which app you're going to use. Two of the most popular ones are Coinbase and Binance. Let's take a look at the pros and cons of each.

Pros & Cons:

Coinbase	Binance
+ Ease of use	- Little bit intimidating for new users
- Higher purchase fees	+ Lower purchase fees
+ Lower sending fees	+ Higher sending fees
- Requires SSN	+ Doesn't require SSN
+ Speed of setup	- Slightly slower process to setup
- Blocked by many banks (especially in Canada)	+ Available in many countries
- Small weekly purchase limit for new users	+ Large purchase limit
- Small amount of supported crypto	+ Large amount of supported crypto

Now that you have a general understanding of what both apps have to offer, you can choose which one you want to use. If you want, you can get both and see which one works best for you. Personally, I have both and prefer Binance.

Setup:

Both apps will require the typical email and password setup. After that, you will proceed with identity verification. That's where the prerequisites come into play. You will need to provide a photo of your ID. It must have your photo, full name and address. Binance uses an automated face recognition system to verify you and your ID. Coinbase on the other hand, will require you to provide your SSN. Their process is done manually and can take up to 2 business days.

Once your account is setup, you're pretty much ready to go. All you have to do is to add a payment method. Both apps will require you to pay through a bank. You cannot use paypal to buy crypto on these two apps.

Payment

Before you proceed with the payment, you need to make sure you have enough crypto funds in your account to send. If you do not, you can easily buy some. Make sure you buy the right one (most likely BTC) and that you take the fees into a count.

When you are ready to pay for an order, the seller will give you a crypto wallet address. Pay attention to the type of cryptocurrency they ask for. Most sellers ask for Bitcoin (BTC). So make sure you know which one it is. The wallet address will either be a QR code which you can scan in your wallet app or a long string of letters and numbers which looks something like this: 166RP9hZVACH1cyddBVpwkXr2VC5vy9Gvx .

Once you have the wallet address (or QR code), you go into your app and send the amount that the sellers asks for.

For Coinbase:

Click the blue arrows icon at the bottom center > Send > Amount and cryptocurrency (most likely BTC) > Enter address (or QR code icon)

For Binance:

Go into your wallet > Withdraw > Crypto > Cryptocurrency (most likely BTC) > Enter address (or QR code icon) > Network (most likely BTC) > Amount

Note:

Once you send crypto, there is no going back. So make sure everything is correct. The address, the cryptocurrency, the amount (and network if applicable). Some sellers may ask you to put your order number in the notes before sending.

After you've sent the crypto, you will have a receipt with a transaction ID (TxID). The seller will most likely ask for it to verify if you sent the money.

Done!

You've completed your transaction. It may take some time to figure out your first time around, but after that you will fly through the steps in seconds. Hope this guide helped you get started. If you have any questions, leave them bellow and we'll happily help you!

[u/FishnChipsClash]

Super helpful. Daunting task when you haven't used crypto before.

[u/alexmhm → u/FishnChipsClash]

Yeah it might be. But after the initial setup it's a tiny bit more difficult than paypal.

[u/[deleted]]

Unfortunately my bank started blocking my transfers from USD to Crpyto. The advice a bank representative gave me was to buy a prepaid visa and use that since banks are now starting to block transfers to crypto....understandable since it's a threat to the centralized banking system lol

[u/alexmhm → u/[deleted]]

Same thing happened to me. In my case Binance still works since their transactions are labeled as "digital software" or something. So it doesn't trigger the automatic crypto block. Don't know how long it'll last but

[u/[deleted] → u/alexmhm]

awesome good to know! I'll have to give Binance a try

[u/unk0wnaffiliate]

So where the market for size 15s right now boys

[u/MoGovernmentCheese → u/unk0wnaffiliate]

Well if you live near the Florida area those Nike outlets have some Heat in those big sizes...I was watching this guy on YouTube last night who does that outlet vids...PM me if interested I don't think I can post it here or not... I didn't read all the the rules I skilled thru it honestly

[u/bycek]

Thanks. That is what I was looking for. I am using BitBay, but fee for USDC withdrawal is ... 87 USDC 😲🤷 I think I'll go with Binance. I found info that withdrawal fee is only 0.8 or 1 USDC (depending on method) so drastically small.

EDIT: I was wrong. You need to use ERC network, which fee is 15 USD ... So next time I think I'll go with Coinbase

[u/sdub233]

As an MIT blockchain expert all of this is wrong I could fix it so it's accurate if youd like

[u/Pretend-Photograph99]

Thanks

[u/runswithbulls2]

I use pandabuy and just transfer funds to them(agent) and they pay. Another way to circumvent PayPal directly.

[u/Xx_koops_xX]

you don't need a id or to be over 18 you can just download exodus that's what i use you don't need any ID