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How Do I Pay with Crypto?

How to Pay with Crypto

Crypto payments are becoming increasingly common, though for many, it can seem confusing or intimidating at first to pay with crypto.

Join us in this blog as we explain how to pay with crypto, the benefits of cryptocurrencies, how to use crypto wallets for payments, and ways you can start accepting crypto payments for business growth.

What are the benefits of paying with crypto?

As with any new technology, cryptocurrencies offer several potential advantages over traditional methods.

Here are some of the benefits:

Speed and convenience

Crypto payments typically confirm within minutes, in contrast to the hours or days required for standard bank wires. This makes crypto well-suited for online purchases or quick in-person exchanges.

Low/no fees

Processing credit cards incurs substantial fees for merchants, often 2-3% per transaction. Crypto networks charge tiny per-transaction amounts, saving businesses money on each sale.


An estimated 1.7 billion people worldwide are considered "unbanked" without access to standard financial services. Anyone with an internet connection can send and receive cryptocurrencies, enabling financial inclusion globally.


Full transparency into fund movements is provided by allowing anyone to view every transaction conducted on a public blockchain. Transparency eliminates concerns regarding hidden charges or accounts becoming lost in the system.

Of course, cryptocurrencies also face issues like price volatility and a lack of consumer protections. But for many use cases, the benefits of speed, low costs, and accessibility make crypto and crypto payments appealing alternatives to traditional finance.

How do you acquire cryptocurrency?

To start using crypto for payments, the first step is obtaining some digital assets.

There are several ways to accomplish this:

Purchase on an exchange

Crypto exchanges allow users to connect a bank account or debit card and then trade fiat currency for cryptocurrencies. Fees vary but are usually a low percentage.

Earn through work

Some sites pay small amounts of crypto for simple tasks like answering surveys. While not a significant income, it's an easy way to get a small amount without cashing out.

Accept it as a merchant

If you run an online business, you can opt to accept cryptocurrency directly as payment from customers. One-stop shop crypto service providers like Cryptobunq offer ecommerce plugins, payment buttons, and exchange APIs to seamlessly accept crypto payments on websites and mobile apps.

Get it as a gift

Friends or family members holding crypto assets can simply send you some as a gift. Make sure to provide them with your public crypto wallet address to receive funds.

After investing in cryptocurrency, individuals typically store it in a type of crypto wallet, which can be on a crypto exchange account or special wallet software or hardware. We'll discuss crypto wallets in more detail later.

pay with cryptocurrency

Can I pay with a crypto wallet?

Now that you have crypto assets in a personal wallet, you're ready to start spending them online and in stores. Cryptobunq's managed custody and wallet solutions provide security for crypto traders of all experience levels with insurance coverage for stored assets.

With Cryptobunq, you gain access to an API in a crypto wallet, e-commerce payment solutions, and various crypto services to easily integrate cryptocurrency payments into your business or start to accept these types of payments.

The process generally works like this: You find a merchant that accepts crypto payments. Some big-name retailers have started rolling out cryptocurrency services as well.

During checkout, you select crypto as your payment method, and the crypto wallet handles conversions to fiat currency in real-time if need be. Your wallet instantly transfers funds to the merchant.

In many cases, there is no need to manually send crypto coins from your wallet. Integrated services handle conversions seamlessly behind the scenes.

What wallet should I use for cryptocurrency?

Choosing the right crypto wallet depends on your needs and the type of cryptocurrencies you hold. There are basically two types of crypto wallets: hot and cold wallets.

While hot wallets, such as mobile and desktop wallets, provide an internet connection but are prone to security issues, cold wallets, such as hardware and paper wallets, provide no internet connection but more security.

Hardware wallets are the most secure crypto wallet type, but they are less convenient than mobile or desktop hot wallets for smaller payments.

It is better to research what each option supports to pick the wallet that fits your specific needs and holdings. Make sure to check out “How to set up a cryptocurrency wallet?"

How do you receive payments in crypto?

If you run an online business, accepting cryptocurrency payments can open your services to a whole new customer base. Again, integrated solutions make accepting crypto as simple as flipping a switch.

Merchants of all sizes can accept crypto seamlessly without price volatility risks. Start by generating payment addresses or QR codes linked to your chosen crypto wallet. Share these options on invoices and your website so customers have flexibility in how to pay with crypto.

Many platforms let you set crypto-to-fiat conversion rates to instantly receive funds in your local currency. Analytics also provide insights into payment sources and customer demographics.

You can easily integrate crypto services into your business with Cryptobunq. We offer many solutions, from batch payments to checkout and invoicing, to address the issues you may have within the crypto ecosystem with the power of blockchain technology.

pay with crypto

Which cryptocurrency is suitable for payment?

While Bitcoin remains king in terms of overall crypto market value and recognition, several other cryptocurrencies have emerged as good options for payments due to features like low transaction fees and fast confirmation times.

Consider ease-of-use, support at your preferred merchants, and which coin aligns best with your transaction needs when deciding what cryptocurrency to use for purchases.

How do I pay online with crypto?

To pay online with crypto, the process generally follows these basic steps:

  • Select the most suitable crypto for your business as your payment method at checkout.
  • The merchant will provide a unique crypto address or QR code for payment.
  • To send funds to this address from your crypto wallet integrated with Cryptobunq, scan the QR code or copy and paste the address string.
  • Transactions using crypto coins on supported blockchains require extremely low fees and typically confirm in under a minute, thanks to its dedicated payment infrastructure.
  • Once the crypto payment is received, the merchant will immediately send you an order confirmation.
  • You can easily convert cryptocurrency to fiat and decide settlement schedules through Cryptobunq.

The bottom line

As merchant acceptance grows and third-party integrations continue to simplify crypto payments, expect digital assets to play an even bigger role in our daily transactions.

You can easily use crypto to buy goods and services, for transfers, crypto batch payments, e-commerce payments, cross-border payments, global payments, and more. Additionally, by adapting cryptocurrencies into your business, you can benefit your projects for the better.

If you have any additional questions about starting with crypto transactions or other crypto services, from tokenization to node as a service, feel free to seek support from the experts at Cryptobunq and explore our case studies. Contact us and adapt to the crypto ecosystem through CBQ!

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