How To Receive Cryptocurrency Payments In Your Business

If you are asking your self how can I receive cryptocurrency payments in your business you have come to the right place. You will be required to set up a digital wallet to store your coins or tokens. There are few different types of digital wallets you will want to make yourself familiar with before buying any cryptocurrencies.

Hot Wallets are always connected to the internet Via mobile device or computer. A hot wallet is not secure and is vulnerable to attacks from hackers if they install malware on your device or computer. These are popular for trading and the convince it brings to the user. It is recommending to only store enough digital currency in them you are willing to lose

Cold Wallets are not connected to the internet they are printed out on a piece of paper with a security key you must keep in a safe place. Share your public key to receive bitcoin payments. Only you will have access to your digital wallet secrete code as this will be required for you to withdraw your funds. These are great ideas for gifts if you want to give your friends or family bitcoins as a Christmas present.

I use Coin Base for active trading then I transfer my coins onto a cold or paper wallet. Coin Base is the most popular digital wallet on the market. They are limited since you can only buy Bitcoin, Bitcoin Cash, Ethereum, and Litcoin through their public trading app. If you are looking to purchase other cryptocurrencies Like ripple you will have to use a currency exchange website like Changelly.

Convert Cryptocurrencies Instantly

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top