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How to pay with crypto?
This guide is for those of you that are unfamiliar with using cryptos as a payment method for goods and services online. For this guide, I’ll be using Trust Wallet as you can both buy and store crypto there
Step 1: Download the Trust Wallet app or extension
Before you can pay someone with crypto, you need a wallet with some deposited funds on it. For this example, we use Trust Wallet as they are one of the largest wallet services that are trustworthy and easy to use. You can download the app to either phones or as a Chrome extension, you can choose what you prefer. I will be using the Chrome extension, but the setup process is the same on phones too
Step 2: Once you have downloaded Trust Wallet to the operating system of your choosing, open the app or the Chrome extension if you chose that. Then click on “Create a new wallet”
Step 3: Now you need to set a password, choose one that contains the required characters and symbols, then verify it below. Click “Next” when you are done to proceed to the next step
Step 4: Here you will get a string or words that you need to save somewhere, this is a security measure that you need to fill in in the correct order to access your Trust Wallet account
Step 5: The final step of the signup process is to try out the security measure from the previous step. Click the words in the correct order and click next when you are done to proceed
Step 6: You will get some messages and stuff after step 5 that you can just click away. Once you have done that, this is what the home screen looks like. Here you can see the cryptos you own, send, receive, and buy currencies
Step 7: Before you buy tokens on Trust Wallet, you should check how much cryptos you need to match the membership price. If you take the monthly membership for example, you can see that you need 0.3448698 LiteCoins to match $29.95. You can find the current exchange rate by clicking the PAY BY CRYPTO buttons located below the various membership options and select any of the cryptos. There are 8 supported cryptocurrencies on the payment pages, but for this example, we stick to Litecoin as it’s one of the most common ones. Now it’s time to buy some actual Litecoins (LTC) on Trust Wallet
Step 8: From your Trust Wallet home screen, click the blue “Buy” button on top to get to this page where you can buy the cryptos. From the CentroBill payment pages from the previous step, we learned that we need 0.3448698 LiteCoin to pay for the $29.95 membership. Unfortunately, crypto exchanges take a fee, so be sure to top off some extra bucks to cover the $29.95 plus the exchange fees. In this example, I just put in $34 in the first field, then picked Litecoin in the second. On the right side, you can see the crypto exchanges that give the best conversion ratio, with the best one being on top. Make sure to adjust your deposit in USD so it matches what you need in Litecoin. Once you are set, click the first crypto exchange on the right side and you are taken to a payment page where you can pay with credit cards in order to get your cryptos. Should you encounter any issues with that, like your country is not supported, try the next exchange on the list.
Once you have clicked on a crypto exchange, you need to fill in some personal details and credit card information in order to proceed with the purchase. Once you have completed those steps, you will receive your Litecoins to your wallet within minutes. Your home screen will be updated with your new balance as soon as the trade is completed
Step 9: Now that we have gotten the tedious crypto exchange out of the way, you can see that you now have a balance on top of the home screen, and are ready to go shopping. Now to do the payment, click the blue “Send” button and choose Litecoin on the next screen
Step 10: This is what the screen looks like when I have filled in the recipient address and amount. You find this info on the CentroBill payment page, just copy and paste the address and amount and paste them into Trust Wallet. See step 7 again for a reminder of what the CentroBill crypto payment pages look like
Step 11: Once you have clicked the “Preview” button in the previous step, you come to this page. Here you can see the total amount with network fee included. Once you are ready to complete the transaction, click “Confirm”.
Step 12: Once you have clicked “Confirm” on the previous step, your transaction get’s sent to a queue where it will await the necesarry confirmations to carry out the transaction. This is usually done within minutes, but it can also take up to half an hour, depending on how much traffic there is on the blockchain network. You can see the process by clicking the “View on explorer” button that you find in your history
