How to pay using crptocurrencies: a step-bys-step guide. 

The future of finance is set to be like never before, transforming the way we grasp and engage with financial systems, transparency and financial freedom. As the realm of decentralisation ramps up, it is time for people to embrace crypto payment and do away with the traditional payment protocols.

Innovations in the cryptocurrency landscape including QR codes, near field communication (NFC) and Web3 card with crypto top up, physical and virtual cards, are setting the stage for a future where crypto payments are fast, secure and diverse to use as compared to traditional payments. In this article, we give a step-by-step guide to paying using cryptocurrencies.

1. Acquire cryptocurrencies such as Bitcoin or Ethereum that can be used as payments.
Before starting your crypto payment journey, users need to acquire cryptocurrencies. Here are the main ways to acquire crypto.
• Cryptocurrency exchange websites; one of the easiest ways to acquire crypto is through crypto exchanges. A cryptocurrency exchange website is a digital platform that allows crypto holders to sell, buy and trade digital assets. These platforms, such as Mountain Wolf, have different rules and regulations, so it is essential that you choose a credible website.
• Crypto ATMs: special crypto ATM machine offer user a more straightforward way to acquire crypto using payment methods like bank cards and cash.
• Peer-to-peer (P2P) marketplaces: these are websites where you can buy cryptocurrencies direct from other people. However, buying crypto directly from individuals can be risky and doesn’t always work for the best.
• Payment Apps: several mobile payment apps have adapted to cryptocurrency trends, allowing users to sell, buy and hold cryptocurrencies directly within their platforms.

2. Choose a cryptocurrency wallet.
A crypto wallet is a online wallet for storing, receiving and sending cryptocurrencies. To make payments using crypto, users need to download and install a crypto wallet on their mobile or desktops, which will act as an interface for trading and holding their crypto. Most reliable exchange platforms provide a wallet for users to enable them to transact seamlessly. Here is the process of setting up your crypto wallet.
• Pick a wallet that fits your specific needs in terms of functionality, security and wallet features.
• Create an account with your exchange provider and submit the identification documents.
• Download and install your crypto wallet from the official website of your crypto exchange provider.
• Set up a complex and unique password with two-factor authentication and other appropriate security features.
• Back up your private key or wallet seed and keep it safe.
• Fund your wallet and start trading with cryptocurrency.

3. Select your preferred cryptocurrency.
Once you’ve successfully downloaded and installed your crypto wallet, your exchange provider will automatically display available cryptocurrencies that can be used to trade. Ideally, a trustworthy cryptocurrency exchange should have a multi-currency wallet which is accessible anywhere in the world.

4. Make payments with cryptocurrencies.
Lastly, if this is your first time making a payment with crypto, you may want to consider making a small transaction to test and ensure you have entered the right information. After making a crypto payment, you can track its status by entering your wallet address into a blockchain explorer.

In case of crypto cards, like the prepaid cards from Mountain Wolf, you can top them up with crypto and pay in real life when shopping in the internet, at the point-of-sales or you can even withdraw cash at ATMs. Those innovative cards are available both as virtual card or as physical card, thus you can pay at the POS with Apple-Pay or Google Wallet.

Conclusion
Cryptocurrency payment has many benefits for both e-commerce businesses and investors, which include cost-effective transactions, accessibility, decentralisation, transparency and inflation protection.