How To Accept Bitcoin Payments – Simple Step By Step

how to accept Bitcoin payments

Over the past few years, many have asked me how they can accept cryptocurrency as a form of payment for either the sale of a service, product or even used in ministry.

While their are countless ways to “accept” digital currencies in the way of a transaction from one peer (person or entity such as a corporation, LLC, business, etc) to another peer (person or entity such as a corporation, LLC, business, etc), the simplest and most effective process my digital currency partners and I have found to be the following procedure:

Step 1 – Create a Coinbase Account

Coinbase is a world leading digital currency exchange headquartered in San Francisco, California and remains to date the company that’s used most in my network. To accept digital currencies like Bitcoin, Ethereum or Litecoin, you’ll need a digital wallet, and you’ll get one of those for free with your free Coinbase account.

Step 2 – Promote Your BTC, ETH and LTC Wallet Addresses

Coinbase provides you with digital wallet addresses for various popular digital currencies, including Bitcoin (BTC), Ethereum (ETH) and Litcoin (LTC). Once you have completed the sign-up process on Coinbase, you will have access to your BTC, ETH and LTC wallet addresses you can place on your website, in your invoices and via QR codes in your print marketing pieces.

Step 3 – Connect Your Bank Account To Your Coinbase Account

As your inbound digital payments pile up, you can trade, leave it all in your Coinbase account to grow with the market or, withdraw your earnings via a bank wire in US Dollars or any other fiat currency, anywhere. :)

Step 4 – Withdraw Earnings To your Bank Account

A bank wire from Coinbase typically takes a few days depending on the amount and time of the request. Sadly, bank deposits to fund Coinbase accounts, for example, if you wanted to buy Bitcoin as part of an investment, such wire transfers do take quite a bit longer.

Since bank wires from Coinbase are free, and there are no transaction or infinitely minute charges accrued from payments received (completed transactions), this method is not only simple, I’m sure you’ll soon agree it’s very cost effective as well!

Need more help or do you have questions about this topic? Go HERE to book me.

#TGBATG

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3 thoughts on “How To Accept Bitcoin Payments – Simple Step By Step

  1. This means you need not spend time, effort and money on testing a strategy when this one is so clearly laid out in simple steps. After reading this post, I realize how I wasted weeks of research, often getting stuck in a never ending loop of discussions and forum interactions that lead me far enough along to stumble once again. I will following your procedure Daniel, and will do so for His glory.

  2. Excellent tutorial and so simple. This is by far the easiest way to get a Bitcoin wallet address and start receiving Bitcoin payments right away. I was surprised to find out Coinbase doesn’t charge fees for bank wire withdrawals, so essentially, there are no fees involved unlike credit cards!!!!! I am curious to know your thoughts regarding the recent dip in digital currencies?

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