The Mechanics Of Crypto Payments

Overview

What is the mechanism of crypto payments?

  1. A customer may decide to pay for a good or service, or someone may wish to pay a friend.
  2. Using their payment gateway, the recipient creates a digital invoice for payment. This is usually a QR code that contains the wallet address of the recipient and the amount necessary. At the current market rate, to purchase a $10 (US dollar) meal, you would need $10 of a particular cryptocurrency.
  3. After scanning the QR code with the app, the payer confirms the payment.
  4. The cryptocurrency is transferred to the payee’s account or digital wallet. It only takes a few clicks to complete the entire process. Additionally, it is safer and more convenient than attempting to complete all steps manually.

Cryptocurrency cards for payments

Are there any advantages to crypto payments?

What are the disadvantages of cryptocurrency payments?

Are there any disadvantages associated with cryptocurrency payments?

Conclusion

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store