How To Accept Bitcoin Payments

Bitcoin, a digital currency marked the inception of a revolutionary era in the realm of payments. Its introduction in 2009 by the pseudonymous Satoshi Nakamoto, ushered in a new era of digital finance, disrupting the status quo and what we have always been used to. 

At first, only a few people who loved technology knew about Bitcoin. It was different from regular money because no one was in charge of it. Bitcoin isn't controlled by any government or bank, when you use Bitcoin, you don't need a bank to help with the transaction. However, the journey from it being a digital currency to a viable payment method was met with obstacles. 

Nevertheless, blockchain offered a glimpse into a future where transactions could be transparent, secure, and efficient. This potential, combined with the growing disillusionment with traditional financial systems, fueled the belief that Bitcoin could revolutionize the way we conduct business and exchange value.

Are you a business owner/Individual looking to expand your payment options? Bitcoin, the world's first cryptocurrency, has gained significant traction as a payment method. With Bitnob, accepting Bitcoin payments has never been easier. This article will walk you through the simple steps of accepting Bitcoin payments through the Bitnob app. 

Accept Bitcoin Payments on Bitnob

Two ways to accept bitcoin as a payment method on Bitnob are via Lightning and on-chain [external wallet]. Lightning Network is a second-layer scaling solution for bitcoin that facilitates faster and cheaper transactions. With Bitnob's Lightning integration, you can enjoy the benefits of near-instant payments and reduced transaction fees.

To receive Bitcoin via the lightning network on Bitnob, follow the steps below -

• Tap the “Actions” tab at the bottom of your home page
• The app actions will pop up on your screen
• Tap "Receive"
• Tap "Receive via Lightning"
• Input the transaction details, and complete it with a description
• Tap "Create Invoice"
• Tap the green squares to copy the Lightning Invoice or Tap "Share" to send the Lightning Invoice directly

Onchain transactions, on the other hand, involve direct transfers on the bitcoin blockchain. Your customer might not be used to the Lightning Network. To accept Bitcoin payments, you need to create a Bitnob account, as you will be automatically provided with both a USD wallet and a BTC wallet. Here is a quick step-by-step guide on how to receive BTC via onchain.

• Tap “Actions” at the bottom of your app's home page
• Tap "Accounts"
• Swipe left to your BTC Wallet
• Tap “Receive”
• Tap “Receive Onchain”
• Copy and share the generated BTC wallet address.

Ready to Accept Bitcoin Payments?

Accepting Bitcoin payments with Bitnob can be a game-changer for you/your business. By following the simple steps outlined above, you can expand your customer base, enhance your business's reputation as a forward-thinking enterprise, and potentially benefit from the growth of cryptocurrency.

All you have to do is download Bitnob and you will find it easy to navigate to accepting bitcoin payments. Don’t enjoy this information alone. Share with your friends and loved ones.