Last Updated on October 12, 2021 by M.Usman
Knowing how to buy things online with cryptos or digital currency or what is known by many as Bitcoin or Ether anywhere in the world is what am going to be sharing with you today, furthermore, you will also understand what a crypto or digital currency or money is, what a wallet is, how to sign-up for it, how and where to get crypto currencies. I do hope you will be reasoning with me in this direction!
However, if you are not the “internet or digitally oriented” type, this post might just be worthless to you, and you may wish to just jump over to something else that might be of more interest!
On the other hand, if you are looking forward to understanding in plain text, all about how to buy things online with cryptos or digital currency anywhere in the world, then hang on with me in this journey!
What is A Crypto or Digital Currency?
On a basic level, Crypto or Digital Currencies are monies (money). Note also that all virtual or softcopy currencies are digital but not all of them are Crypto. Crypto currencies are based on the blockchain technology and are decentralized non-legal tender currencies, but in some nations, cryptos are accepted as legal tender. A legal tender is any official currency recognized by the law of a country for transactions in that country.
What is A Crypto or Digital Money Wallet?
As you read this article, you are likely to be already operating or holding at least one or two accounts with the conventional banks in your country, so you think about a digital wallet the same way you see yourself opening and owning a bank account!
So, your crypto or digital money (currency) Wallet is your virtual or online bank where all your cryptos or digital currencies are kept securely.
How to Get or Signup for A Digital Money or Crypto Wallet to Buy Things Online
If you research, you will find out that there are lots and lots of digital money wallets providers you can find online for free lodgment. After researching, I found out blockchain to be the best, with lots of security features that keep your crypto currency safe. With the integrations of secret keys, IDs, digital authenticator and email confirmations amongst many others, “they got your back!”
To signup for a digital crypto wallet go to www.blockchain.com to register and make sure you remember your passwords, keys and authenticator code if you chose to use one, but for me I don’t like it because if you lose the phone on which you install google authenticator, you might be locked out of your wallet crypto money for ever, and it will just remain on the web like that if you are unable to find a way out!
Once you have signed up, you will be able to view your account profile or dashboard, see a lot of information about all the crypto currencies, their prices, rise and false overtime, the dollar and crypto equivalent day by day!
Where Do I Get Crypto or Digital Currency to Put in My Wallet to Buy Things Online?
Firstly, now that you know what a digital wallet is, you also need to know about your wallet address, think about it as you see your local bank account number which you can share with a client for financial transactions! You can find many platforms to buy or transact on crypto currency on the web, the blockchain also sells, swap or buy as much as others you will come across but, in Nigeria Luno, NGE.ng, mybtcnigeria amongst others are sources to buy and sell cryptos.
How Do I Make or Receive Payment for Products or Services Using Crypto or Digital Currency?
On one-hand, to make payments for products or services using crypto currencies like bitcoin, ether, bitcoin cash, altcoin etc., you will need to ask for the sellers or client wallet address, then you login into your wallet to locate the “send” option, copy the address you were given into the box and use send button to make transfer. Note also that a little token will be charged as transaction fee where necessary.
On the other-hand, to receive payments, you need to log in to your online wallet (that is your crypto digital bank) account. When you are in, you should be able to see your wallet address, copy the code as it is and send to your payer for use in sending cryptos to you and you are done in split seconds as the amount agreed will be credited to your wallet!
Now you can go ahead and signup for your digital wallet and start funding or receiving and making payments with your crypto or digital money on the go.
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