This article's purpose is to guide customers of merchants, who have chosen Coinify as their Bitcoin Payment, on how to make a Bitcoin Payment. Equally important for you, if you are a merchant, to use the information in this guide to assist to your customers who are new to Bitcoin Payments.
1. Open a Bitcoin Wallet
In order to start using Bitcoins as a payment method, you will first need to have a Bitcoin wallet. You can consider a Bitcoin wallet as the Bitcoin equivalent of a bank account. With a Bitcoin wallet, you can receive Bitcoin, store Bitcoin, pay for an invoice with Bitcoin, and send Bitcoin to others.
When creating your wallet, you can choose from a:
You also have to option of using a web wallet such as Blockchain's Wallet that you can access from both your mobile phone and computer. No matter what wallet you choose, the creating one is fast and easy. Simply follow the instructions give from the site and your new wallet will be ready to be used in no time.
2. Get Some Bitcoin
Once you have your wallet all set up, you will need to have some Bitcoins in it. Bitcoins can be bought from exchanges or services like ours. We offer the option to buy Bitcoins via credit card or bank transfer through our 'Trade Platform'. When purchasing from our Trade Platform, you simply need to provide us with the Bitcoin address generated by your wallet and the Bitcoins will be delivered to you. If you want to know more about the process of buying Bitcoins, please visit our 'Knowledgebase'.
3. Pay With Bitcoin
Now, that you have some Bitcoins in your wallet, you are ready to spend them!
Go to a webshop that accepts Bitcoin payments, select a product you would like to buy, and choose 'Pay with Bitcoin' when checking out.
You will be provided with information about your order, the equivalent price in Bitcoins, and two payment options: a QR code and a button.
If you have a wallet installed on your phone, you can simply use it to scan the QR code and send the Bitcoins.
If you are using a desktop wallet, click on the button ‘Pay using Bitcoin Client’. This will open your wallet and create a payment. Check the payment details and confirm it.
If your computer wallet does not respond to the 'Pay with Bitcoin Client' button, OR if you wish to use a web wallet to pay with, you can initiate a Manual Payment:
Copy the Bitcoin address shown in the payment window
Paste this address in the 'send to' field in your wallet
Copy the Bitcoin amount from the payment window
Paste into the amount field in your wallet.
Send the payment
What to expect: once your payment has been transmitted to the Bitcoin network, the payment window will update to 'Paid' and you will be redirected to the webshop.
What to do: Always send the exact Bitcoin amount as shown on the payment window - your wallet may use different exchange rates than Coinify and can translate into a different fiat currency amount.
What not to do: Never make a payment from an exchange/trading account processed as a withdrawal—doing this may result in the payment expiring.
- The Bitcoin payment is valid for only 15 minutes. This is due to the exchange rate between Bitcoin and whichever fiat currency the product is valued in. If the Bitcoin transaction is not confirmed within this time frame, the payment will still go through but will appear on the merchant's dashboard as expired. It is up to the merchant to accept such a payment or—if not—to issue a refund for the order.
- As a customer, you will always be able to see the payment status and whether it has been successfully processed or not.
It is also very important to note that once you make a payment, Coinify credits the Merchant/Store instantly and they are the only one who can issue a refund. If you happen to have any questions related to the product, delivery, etc. after making a payment, you should contact the Merchant/Store you are buying from.
Coinify support can help you only if there is an issue with the processing of the transaction i.e. if the payment has not been processed after you have sent the Bitcoins or if it is stuck in a processing state.