Let's talk about cryptocurrency payments in plain and simple English: think of crypto as digital money that works over the internet. With more than 420 million people already using it worldwide, and big companies like Microsoft and Starbucks now accepting it as payment - crypto has officially landed in the mainstream.
Why people love using crypto for payments
It's cheaper to use
Remember the last time you sent money abroad? Those fees probably weren't fun. Crypto usually costs much less to send, whether you're paying someone across the street or across the world.
It's super fast
With regular bank transfers, you might wait days for your money to arrive. With crypto, payments usually go through in minutes. It's like sending an email instead of waiting for a letter in the mail.
It's really safe
Crypto uses a special technology called blockchain that makes it very hard for anyone to cheat or steal. Think of it like a digital safe that keeps getting stronger every time someone uses it.
It works everywhere
Crypto doesn't care about country borders. You can pay anyone, anywhere, anytime. No need to worry about different currencies or bank holidays.
The numbers that matter
More businesses are jumping on board every day. In 2021, people used crypto for over $754 million worth of payments, with this number growing by roughly 17% each year. As more businesses incorporate crypto into their payment systems, they have found more customers making larger checkouts.
How to pay with crypto (it's easier than you think)
- Pick crypto at checkout: Just like choosing credit card or PayPal
- Scan or copy: Use your phone to scan a QR code or copy a payment address
- Send your payment: Click to send from your digital wallet
- Wait a minute: Your payment gets confirmed quickly
- You're done: The store gets their payment, and you get your stuff
Advantages of using crypto
For shoppers:
- Your personal information stays private
- No one can steal your card details
- Payments go through quickly
- Works the same way everywhere in the world
For businesses:
- Get paid faster
- Spend less money on processing fees
- Reach customers everywhere
- No worries about fake payments
Is it hard to start using crypto?
Not at all! If you can use a smartphone app, you can use crypto. Here's what you need:
- Get a digital wallet (it's like having a banking app)
- Buy some crypto, Bitcoin is often a good place to start
- Start paying at places that accept it
Looking to the future
More and more stores and websites are starting to accept crypto every day. It's becoming as normal as using a credit card or mobile payment. Sure, it's new and different, but so was paying with a card instead of cash when that first started.
Simple tips for using crypto
- Start small until you're comfortable
- Double-check addresses before sending
- Keep your wallet information safe
- Use well-known services and stores
Why this matters
Whether you're a shopper who wants more ways to pay or a business owner looking to reach more customers, crypto payments are worth checking out. They're:
- Fast
- Safe
- Work everywhere
- Usually cheaper than regular payment methods
The bottom line
Cryptocurrency isn't just for tech experts anymore. It's becoming a normal way to pay for things, just like credit cards and digital wallets. While it might seem new and different at first, it's actually pretty simple to use once you try it.
Remember: You don't need to understand all the complex technology behind crypto to use it, just like you don't need to know how a credit card machine works to swipe your card at the store.
Ready to try?
If you're curious about using crypto for payments, start small. Simply download the Tap app from your Tap store (we encourage you to read the reviews and information before engaging in any crypto app - we’re confident you’ll still choose Tap) and create an account.
You will then need to complete a quick identity verification step (NB no matter which crypto platform you might go with) and once you’re verified you can buy any cryptocurrency you like. If you’re looking to pay with crypto, it is worth noting that Bitcoin is the most widely accepted.
Then try buying something inexpensive from a well-known store that accepts crypto using the steps above. The process should be as smooth as if you were using your digital card. If you run into any difficulties, we have 24/7 customer support in the app that will gladly help you through.
This article is for general information purposes only and is not intended to constitute legal, financial or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.
