Cryptocurrency Payment Guide
Bitcoin & Crypto Payment Guide for Beginners
New to cryptocurrency? This guide explains the basics of paying with crypto, including supported currencies, wallet addresses, blockchain networks, transaction fees and important checks to make before sending a payment.
You do not need advanced cryptocurrency knowledge. The most important rules are simple: choose the correct cryptocurrency, use the exact network shown in the payment instructions, verify the destination address and review everything before confirming the transfer.
Accepted Cryptocurrencies
20% Instant Crypto Discount
Select a supported cryptocurrency payment method during checkout and eligible regular-price products receive 20% OFF automatically. Products already on sale or otherwise discounted are excluded from the additional crypto discount.
Start Here
What Is Cryptocurrency?
Cryptocurrency is a digital asset that can be transferred between compatible cryptocurrency wallets using a blockchain network.
For a beginner, you can think of a crypto wallet address somewhat like a destination for a digital transfer. Instead of entering a bank account number, you send the selected cryptocurrency to the wallet address provided for the transaction.
Crypto Payments Are Normally Irreversible
Once an on-chain cryptocurrency transaction has been confirmed, it generally cannot be cancelled or reversed. Always verify the cryptocurrency, network, destination address and amount before sending.
Beginner Choice
Cash App – Simple for Bitcoin Users in the USA
For U.S. customers who are completely new to Bitcoin, Cash App is one of the simpler places to learn the basics because Bitcoin buying and external Bitcoin transfers are integrated into an app many people already use.
Cash App currently allows eligible users to buy Bitcoin and transfer Bitcoin to an external wallet address. Identity verification may be required before Bitcoin features are available.
- Open Cash App and navigate to the Bitcoin section. If you do not have Bitcoin yet, use the available Bitcoin purchase option.
- Verify identity if prompted. External Bitcoin transfers may require account verification.
- Copy the payment address from the current payment instructions and verify that the selected asset is Bitcoin (BTC).
- Use Cash App's external Bitcoin transfer option and enter the requested information.
- Double-check the address, amount and Bitcoin network before confirming the transfer.
Cash App is a simple option for Bitcoin beginners. External transfers may include network fees.
Multi-Crypto Platform
Coinbase
Coinbase is another widely used cryptocurrency platform. Depending on account eligibility and location, users can buy supported cryptocurrencies and send them to compatible external blockchain addresses.
- Select the required cryptocurrency in Coinbase and review the asset carefully.
- Copy the exact destination address from the current payment instructions and note the required network.
- Use Coinbase's external send feature for the selected cryptocurrency.
- Match the blockchain network shown in the payment instructions. This is particularly important for assets that can operate on more than one network.
- Review the amount, address, network and fees before confirming the blockchain transfer.
Coinbase supports multiple digital assets. Always match both the asset and the blockchain network.
Another Option
PayPal
Eligible U.S. PayPal accounts can buy, hold and transfer certain supported cryptocurrencies to compatible external cryptocurrency wallets.
- Open the cryptocurrency section of your PayPal account and review the supported assets available to you.
- Copy the destination address from the current payment instructions.
- Use PayPal's external transfer feature if it is available for the selected asset and account.
- Confirm the cryptocurrency and network shown in PayPal match the receiving instructions.
- Review all transaction details before confirming the transfer.
PayPal may require additional identity verification, and external transfer availability varies by account and asset.
Critical Detail
Cryptocurrency and Network Must Match
The most important technical rule is to use the same cryptocurrency and blockchain network shown in the payment instructions.
For example, USDT on Ethereum (ERC20) and USDT on Tron (TRC20) use different networks. A wallet address and network should never be guessed from the asset name alone.
Do Not Substitute Networks
If the instructions specify USDT-TRC20, do not send USDT using ERC20, and vice versa. An incorrect or unsupported network can result in permanent loss of the transfer.
Before Confirming
Check These Four Things
BTC, BCH, ETH, LTC or USDT.
Especially important for tokens such as USDT.
Copy the complete destination address exactly.
Review the required crypto amount before sending.
Extra Costs
Network & App Fees
Cryptocurrency transfers can include fees. These may include a fee or spread charged when cryptocurrency is purchased and a blockchain network fee when it is transferred.
Network fees can change according to the cryptocurrency, blockchain activity and service being used. Review the final transaction preview before confirming the transfer.
Transaction Status
What Happens After Crypto Is Sent?
After an on-chain transfer is submitted, it is broadcast to the appropriate blockchain network and receives a transaction identifier.
The transaction may initially appear as pending while the blockchain processes confirmations. Confirmation speed varies by cryptocurrency, network conditions and the sending service.
Do not send the same payment again simply because an on-chain transaction is still pending.
Privacy
Are Cryptocurrency Transactions Anonymous?
No. Cryptocurrency should not be described as completely anonymous or untraceable.
Public blockchain transactions can record information such as wallet addresses, transaction amounts and transaction identifiers. Cryptocurrency exchanges and payment applications may also collect identity information as part of their legal and security requirements.
Cryptocurrency can provide a different payment method from traditional cards or bank transfers, but it should not be treated as a guarantee of anonymity.
Common Questions
Crypto Payment FAQ
Which cryptocurrencies does BuySteroids.WS accept?
Accepted cryptocurrency options include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and USDT. For USDT, supported network options include ERC20 and TRC20 where shown in the payment instructions.
Do I receive a discount when paying with crypto?
Eligible regular-price products receive an instant 20% discount when a supported cryptocurrency payment method is selected during checkout. Products already on sale or otherwise discounted do not qualify for an additional crypto discount.
What is the easiest crypto option for a beginner?
For U.S. users who already use Cash App, Bitcoin may be one of the simpler starting points because Bitcoin functionality is integrated directly into the app. Coinbase may be useful when a different supported cryptocurrency is required.
What is the difference between USDT ERC20 and TRC20?
Both represent USDT, but they operate on different blockchain networks. ERC20 uses Ethereum, while TRC20 uses Tron. Always use the exact network specified in the current payment instructions.
Why is my cryptocurrency transaction still pending?
Blockchain transfers require network confirmation. Confirmation time varies according to the cryptocurrency, blockchain activity, network fee and sending service.
Can a cryptocurrency payment be reversed?
Confirmed blockchain transactions are generally irreversible. This is why the cryptocurrency, network, destination address and amount should always be checked before confirming a transfer.
Can I use USDT instead of Bitcoin?
USDT is one of the supported cryptocurrency options. If USDT is selected, pay particular attention to whether the payment instructions specify ERC20 or TRC20.
Does the 20% crypto discount apply to sale products?
No. The crypto discount applies to qualifying products at their regular price. Products that are already discounted do not receive an additional 20% reduction.
Need Assistance?
Crypto Payment Support
If anything in the payment instructions is unclear, contact customer support before sending cryptocurrency.
Never guess the correct coin, network or destination address. Because blockchain transfers are normally irreversible, confirming the details before sending is much easier than attempting to resolve an incorrect transfer afterward.
Contact SupportAlways double-check the destination address and network before confirming. Cryptocurrency transactions are generally irreversible.