If you are looking forward to a guide that would help you get Bitcoin payment, you’ve already found one. Before teaching you about the ways to earn or receive Bitcoin, let’s start with an introduction. So what is Bitcoin, and what do you understand by it? If put in simple words, Bitcoin is a cryptocurrency, a decentralized digital currency that can be sent from user to user without the control of central banks or a single administrator.
If you are looking forward to getting Bitcoins, there are various ways by which you can get it. The most popular way to get Bitcoin is by purchasing it directly either from the seller or Exchange in exchange for your fiat currency. Another way of getting Bitcoins is by earning it. Yes, you heard it right. Many platforms now allow you to get paid in Bitcoin either in exchange of selling something or a job done. If you want to get paid in Bitcoin for your work, you can add the option on your platform too.
It’s true, Bitcoin is not that popular like the real money, but with time, more and more countries are adopting it into the financial system. Before you decide to get Bitcoin payments, make sure it isn’t banned in your country.
Where Would You Store Your Bitcoins?
Before you go on and get Bitcoin payments, you must decide beforehand where you want to keep your Bitcoins. Of course, Bitcoin is secure, but you need to be secure from your side to keep it safe from hackers. Decide where you want to store your digital currency if you are a beginner and don’t know anything about it, first research on the topic. For starters, we suggest you don’t keep your cryptocurrencies, whether Bitcoin or any other altcoin in exchanges for long. If you want to keep your Bitcoins for long term investment or have a significant amount of Bitcoins, make sure to have a secure wallet that can’t be hacked. Lets’ know more about crypto wallets.
Which Bitcoin Wallet Is Best For You?
Choosing the ideal wallet for storing bitcoins isn’t that easy. There are various types of crypto wallets that include software wallet, hardware wallet, and paper wallets. In software wallet, there are those supported for desktop, mobile devices and even web wallets. Some software wallets are compatible with both desktop and mobile devices which makes it easy to access from anywhere. Unless your priority is compatibility and not security, you can choose the software wallet but if you are going to store a significant amount of Bitcoins you should select security as your priority and go for cold storage (hardware wallet). Some of the best hardware wallets are Ledger Nano S, Ledger Nano X and Trezor.
Get Bitcoin Payments By Promoting it On Your Website
So, here all the technical work is finished. Now you need to shift your focus to how you are going to get Bitcoin payments. The answer is to spread the word. If you have a business, the best way is to promote it on your website that you are accepting Bitcoins payment too. For online stores, you can add an option to pay in Bitcoin and receive them in your wallet directly.
The best way to promote that you are also accepting payments in Bitcoins are:
- Add a logo on your website that you are accepting Bitcoin payments or crypto payments.
- Add an option for paying Bitcoin along with other payment options such as credit card, net banking etc.
- Also, promote the new feature on your social media accounts.
Keep Your Bitcoin Secure By Following The Best Practices
Now that you ready to get bitcoin payment, here are some of the best practices should follow to keep your bitcoin secure and your experience positive.
- For starters, don’t go trusting “we’ll double your Bitcoin schemes”. There’s no such thing, and you’ll only end up losing the Bitcoin you already own.
- Next thing you need to give attention to is to not store your Bitcoins on Exchanges where you transact. Store your cryptocurrencies separately in a wallet and transfer them to the exchange whenever you need to process a transaction. Simple as it is. Why that? Because exchanges are not secure as a purpose of storing currencies and they have a past of getting hacked and bankruptcy.
- To keep away from hackers and scams, store your private keys offline on a hardware wallet. Moreover, store your hardware wallet somewhere safe so that no one can steal it.
- It is necessary that you take a backup of your wallet every now and then. This would help you keep your private keys and Bitcoins secure even if you end up losing your hardware wallet device or if it stops working.
- Make sure you use strong passwords that aren’t easy to crack for your wallet, exchange account and all the associated accounts.
- If you are into day trading, make sure to learn everything possible about bitcoin and crypto trading. Learn chart reading, technical analysis and other such practices to have a positive outcome.
So, we guess that all that you need to know for now. Now you can get paid in Bitcoins and would not face any issue with the procedure. If you need help finding the best crypto exchange for Bitcoin trading, read our guides and get the answer yourself.
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