How to Pay With Bitcoin
Bitcoin Network
Jan 26, 2025
How to Pay With Bitcoin
Bitcoin has become a popular way to pay for goods and services and to send money directly to others. Paying with Bitcoin is simple once you understand how to purchase, hold, and use it. This guide explains how to acquire and pay with Bitcoin step by step, whether you're a new user or experienced with cryptocurrency.
How to Make a Payment With Bitcoin
Using Bitcoin for payments is simple once you have the correct setup. Here's a quick overview of what you need to know and do to begin paying with the world’s premiere cryptocurrency.
Using a Web3 Username
A Web3 username replaces complex wallet addresses with a simple, memorable name. Leather Wallet supports Web3 usernames so that you can send and receive Bitcoin without the hassle of long strings of characters. This feature reduces errors and simplifies transactions.
Create a Bitcoin Wallet
You’ll need a Bitcoin wallet to hold your funds and make payments. Our own Leather wallet provides a user-friendly option to manage Bitcoin securely. Here’s how to set one up:
Download and install Leather.
Create your account with a strong password and recovery phrase.
Open your wallet and start managing your Bitcoin right away.
Buy Bitcoin
Once your wallet is set up, you’ll need Bitcoin to make purchases. Here’s how to get it:
Pick a Reputable Exchange: Choose a trusted platform like Coinbase or Binance.
Add Funds: Deposit fiat currency (like USD) into your exchange account.
Purchase Bitcoin: You don’t need a whole Bitcoin—Bitcoin is divisible into “satoshis” (or “sats”), so you can buy just a fraction.
Transfer to Leather: Send Bitcoin to your Leather wallet for safe storage.
Learn more about how to buy Bitcoin.
Sending and Receiving a Payment
Bitcoin payments are quick and straightforward. Here’s how to handle them:
To Send BTC: Enter the recipient’s wallet address or Web3 username, type in the amount, and confirm the transaction.
To Receive BTC: Share your wallet address or Web3 username with the person sending the payment.
Where Can You Pay With Bitcoin
Bitcoin is widely accepted for goods and services. Here are some typical places where you can use it:
Retail Stores: Online and brick-and-mortar stores increasingly accept Bitcoin.
Travel Bookings: Services including Expedia and Travala let you use Bitcoin to pay for flights, hotels, and car rentals.
Dining Out: Some restaurants and cafes allow customers to pay with Bitcoin.
Tech Companies: Large companies, including Microsoft, accept Bitcoin for digital products and services.
How to Pay With BTC Without Spending BTC
If you’d like to make a purchase using Bitcoin but don’t want to part with your BTC, consider Bitcoin DeFi solutions. By bridging your Bitcoin onto Layer 2 networks (like the Lightning Network) or using synthetic versions like sBTC, you can make transactions with a BTC-backed asset while keeping your original holdings intact.
Learn how to bridge BTC to sBTC.
Pros and Cons of Paying With Bitcoin
Here are some of the pros and cons of paying with Bitcoin.
Pros
Global Accessibility: Bitcoin works across borders, eliminating the need for currency exchange.
Fast Transactions: Payments are processed more quickly than traditional bank transfers.
Enhanced Privacy: Bitcoin provides greater anonymity compared to credit cards.
Cons
Price Volatility: Bitcoin’s value changes rapidly.
Limited Acceptance: Not all businesses accept Bitcoin (yet).
Transaction Fees: Network activity can lead to higher fees at times.
