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A Handy Guide To The World Of Cryptocurrency

Cryptocurrency has become the most popular, easy, and secure way to make payments in the 2020s. With the increasing popularity of digital currencies, many businesses and individuals are adopting this new payment method.

Transactions made with cryptocurrencies are faster, more secure, and often have lower transaction fees compared to traditional payment methods.

Additionally, cryptocurrencies are decentralized, meaning that no single entity controls them, ensuring that transactions are transparent and secure.

If you are new to using cryptocurrencies for payments, don't worry; we’ve got you covered. Below you will find detailed step-by-step guides on how to pay with cryptocurrency using four of the most popular applications.

 

  TrustWallet

 

 

  • Download the app and create a new wallet if you don't have one yet. Make sure to securely back up your wallet recovery phrases.
  • Pass the ID verification if requested by the Trust Wallet team.
  • On the Wallet page, click the "Buy" button and choose the cryptocurrency selected when placing an order on Steroidify (BTC, LTC, etc).
  • Enter the amount (in USD) you want to buy.
  • Choose your preferred provider (we recommend Simplex) and click "Next".
  • Complete the order using Apple Pay® or a Credit Card.
  • Wait until the funds appear in your wallet.
  • Go back to the Wallet page and click the "Send" button.
  • Choose the cryptocurrency selected when placing an order on Steroidify (BTC, LTC, etc), scan or paste the Cryptocurrency address, enter the Total amount, and click "Next." Both the Cryptocurrency address and the Total amount are available on the order details page in your Steroidify account and in the purchase confirmation email.
  • Finalize the transfer by following the instructions on the screen.
  • Go to your Steroidify account and confirm the payment for your order. Your payment details will be sent to our financial department for review. Usually, we confirm the payment within 24 hours.

 

  Bitpay

 

 

  • Download the app and create a new account if you don’t have one yet. Make sure to securely backup wallet recovery phrases.
  • Verify your identity with the BitPay team.
  • On the Home page, press the "Buy" button, enter the amount (in USD) you want to buy, and press "Continue".
  • Choose the cryptocurrency selected when placing an order on Steroidify (BTC, LTC, etc) in the "Deposit To" field, choose your preferred payment method (SEPA, ApplePay®, or Credit Card), and press "View Offers".
  • Choose your preferred provider (we recommend Simplex), press "Buy" and complete the order.
  • Wait until the funds appear in your wallet.
  • Go back to the Home page and press the "Send" button.
  • Choose the cryptocurrency selected when placing an order on Steroidify (BTC, LTC, etc), scan or paste the Cryptocurrency address, enter the Total amount, and press "Next." Both the Cryptocurrency address and Total amount are available on the order details page in your Steroidify account and in the purchase confirmation email.
  • Finalize the transfer following the instructions on the screen.
  • Go to your Steroidify account and confirm payment for your order. Your payment details will be sent to our financial department for review. Usually, we confirm payment within 24 hours.

 

  Revolut

 

 

  • Download the app and create a new account if you don’t have one yet.
  • Verify your identity with the Revolut team.
  • On the Home page press the "Add Money" button, enter the amount (in USD/EUR) you want to buy, and press "Continue".
  • Complete the order using SEPA, ApplePay®, or Credit Card. Funds will be added to your Revolut account.
  • Wait until the funds appear in your account.
  • On the Home page, under the Exchange tab convert required amount from your Revolut balance to the cryptocurrency selected when placing an order on Steroidify (BTC, LTC, etc).
  • On the Crypto page, press the "Send" button, choose the cryptocurrency selected when placing an order on Steroidify (BTC, LTC, etc), enter Cryptocurrency address and Total amount of your Steroidify order (Cryptocurrency address and Total amount are available on the order details page in your Steroidify account and in the purchase confirmation email).
  • Finalize the transfer following the instructions on the screen.
  • Go to your Steroidify account and confirm payment for your order. Your payment details will be sent to our financial department for review. Usually, we confirm payment within 24 hours.

 

  Paybis

 

 

  • Visit Paybis.com or download the Paybis application. The following steps are for the website version.
  • Enter the Total amount of your Steroidify order in the cryptocurrency selected when placing an order on Steroidify (BTC, LTC, etc) and click "Buy".
  • Provide and verify your email address.
  • Provide and verify your phone number.
  • On the next step, choose "External Wallet," paste the Cryptocurrency address of your Steroidify order, and click "Continue".
  • The Cryptocurrency address and Total amount are available on the order details page in your Steroidify account and in the purchase confirmation email.
  • Choose your preferred payment method (Google Pay®, Apple Pay®, or Credit Card) and complete the payment.
  • Verify your account and ID with the Paybis team.
  • Your payment is now being verified by the Paybis team. Keep an eye on your email inbox and respond to any requests you might receive from the Paybis team.
  • Once the payment is verified and the payout is completed, you will receive an email notification.
  • Upon receiving payment confirmation, go to your Steroidify account and confirm the payment for your order. Your payment details will be sent to our financial department for review. Usually, we confirm the payment within 24 hours.

 

 

UNDERSTANDING THE FUNDAMENTALS

The primary objective behind the creation of cryptocurrencies was to enable anonymous transactions. The process of sending and receiving crypto is similar to using a banking app to transfer funds. While the specific steps for initiating a payment may vary depending on the chosen application, the overall process remains relatively simple.

 

Acquiring cryptocurrencies does not require an account with any institution, exchange, or company. However, if you are not familiar with setting up a wallet or transferring crypto, using a regulated exchange is a safer and more accessible option. A regulated cryptocurrency exchange facilitates the exchange of fiat money for cryptocurrency and provides additional features like storing private keys and technical support.

 

To send or receive cryptocurrency, a wallet application is necessary, which can be installed on computers or mobile devices. Several wallets with different features are available, and some are compatible with a wide range of cryptocurrencies while others work with only a few.

 

Most cryptocurrency exchanges offer a wallet that enables users to transfer funds or make payments using compatible services. Many wallets can use the device's camera to scan QR codes, which creates unique addresses for crypto transfers.

 

Additionally, several wallets provide all-in-one features, including regulated cryptocurrency exchanges, crypto wallets, and internal exchange services. Reputable options such as Coinbase, Trust Wallet, Bitpay, Crypto.com, SafePal, Binance, or Revolut can get you started by creating an account and funding it for crypto purchases.

 

IMPORTANT TIPS

For Coinbase Customers: If you are using Coinbase, please be aware that it may take up to three days (72 hours) for Coinbase to process your Bitcoin withdrawal due to their internal policy. Always ensure that you withdraw your bitcoins to your personal wallet before proceeding with the payment for your order.

 

Buying Bitcoin from an Exchange: If you plan to purchase bitcoin from an exchange, it is crucial to transfer your funds to your personal wallet first and only then proceed with the payment for your order.

 

Choose a Reliable Exchange: Consider using reputable exchanges like PayBis, Binance, CoinMama, BitPanda, or Bity.com (EU). Convert Your Local Currency to Bitcoin: Use the selected exchange to trade your local currency for Bitcoin.

 

Secure Your Coins in Your Personal Wallet: Avoid using the wallet provided by the exchange for long-term storage. Instead, transfer your Bitcoin to your personal, secure wallet. This ensures the safety of your funds.

 

Do NOT Use the Exchange Wallet for Purchases: Some exchanges, like Coinbase, provide a wallet for depositing funds. However, it's not secure for making purchases. Always move your funds to your personal wallet before proceeding with any transactions.

 

Note for First-Time Bitcoin Buyers: If you are purchasing Bitcoin for the first time, please be aware that it may take some extra time due to Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. Don't worry; this delay is only expected for your initial purchase.

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