Gone are the days when the only way to buy items or make payments was limited to online transfers and banking applications. Today, cryptocurrencies have made e-commerce transactions easier for merchants and consumers. However, it doesn’t end with them alone. Many conventional companies now accept payments in Bitcoin and other cryptocurrencies.
As a cryptocurrency trader or investor, paying bills using your digital assets offers more convenience since you don’t need to pay high fees or worry about conversions. This guide explains how paying bills with crypto works and the kinds of bills that are supported.
How Does Bill Payment With Crypto Work?
Paying bills with Bitcoin entails using your crypto holding to settle online payments or make online purchases that you would ordinarily pay in your local currency or other fiat currencies. For instance, instead of paying your credit card bill in USD or GBP, you can pay directly with Bitcoin or any other cryptocurrency supported by your service provider. Here’s how it works:
Choose a Crypto Wallet
The first essential need for processing bill payments with crypto is a wallet. The wallet stores cryptocurrencies, making it easy to connect it with any online platform for payments. Many reputable wallets are out there. Choose one that suits your needs and meets high security standards.
Download the Wallet App
The best crypto wallets have dedicated mobile apps that you can download on your phone or laptop. Get the app and create an account. Remember to back up your seed phrase manually and safeguard it properly to prevent it from getting into the wrong hands.
Buy Crypto
Just like having money in your bank account to spend, you need crypto in your wallet to process transactions. So, if you don’t already have crypto funds, you need to buy some from an exchange and transfer them to your wallet.
Typically, you’ll need to register an account and complete KYC if you choose a centralized crypto exchange.
Find a Crypto-Supported Bill Payment Service
While paying bills with crypto is possible, you can’t pay directly from your wallet. You need a bill payment platform that supports crypto payments. A typical example is “Pay Bills With Crypto” powered by Zypto Pay. The crypto payment gateway supports over 22,000 companies and utilities in the US, Mexico, Malaysia, the Philippines, India, Pakistan, Egypt, Costa Rica, Honduras and Guatemala. You can also process bills using Bitcoin, Ethereum, and 100+ cryptocurrencies.
Pay Your Bills With Crypto
Next up is to choose which biller you would like to pay on Zypto.com or the Zypto App. You’ll need to supply your phone number, email address and physical address, and to verify your email during the process. Simply fill in your bill details, choose which cryptocurrency you’d like to pay with and that’s it. Your bill is paid within 48 hours.
What Kinds of Bills Can Be Paid in Crypto?
Now that you understand how you can pay bills with crypto, let’s check out the different bills you can settle directly through your crypto payment gateway.
Credit Card Bills
Credit card bills are among the most common settlements among people using cryptocurrency services like Zypto Pay. To pay a credit card bill with crypto, simply choose the biller name from the list, enter the bill information, and pay as much as you would like to in the crypto you prefer.
Utilities
From electricity bills to cable TV subscriptions, airtime and data purchases, there’s a long list of utility bills you can pay for using Bitcoin and other cryptocurrencies. While some utility service providers accept direct crypto payments, others can be processed using a crypto payment processor like Zypto Pay.
All you have to do is choose which utility payment you’re making depending on your country, make the payment, and Zypto will handle the rest.
Mortgages
As a crypto investor, it’s possible to have a decent chunk of money held up in crypto when your mortgage or rent is due. No need to worry because you can pay with Bitcoin or other cryptocurrencies from your crypto wallet. Once the bill is chosen on the payment processor, you can settle the bill instantly.
Loans
Student loans and other kinds of loans are non-negotiable payments you must make periodically. Paying these bills can be stressful due to the various processes involved. However, crypto offers you financial flexibility since you can also pay with it.
When you make profits from trading or investing in crypto, you can divert them to your loan payments instead of taking them out. Then you can pay off your loans right from your crypto wallet using a payment service. Some loan types supported include Discover Student Loans, FedLoan, and Navient.
Travel
Airlines, airports, hotels, and travel agencies also allow people to pay Bitcoin and other cryptocurrencies through payment providers. Some partner with cryptocurrency exchanges to make it easy for their customers to make travel payments. Others support payment gateways that let you cover your vacation expenses.
Conclusion
Cryptocurrencies are transforming bill payments, offering convenience, security and global accessibility. As adoption grows, more businesses and service providers are likely to embrace crypto payments to meet consumer demand and leverage these benefits.
Pay Bills With Crypto With Zypto
Zypto Pay makes crypto bill payments seamless for users. With a solid presence in the US, Mexico, Pakistan, India, Malaysia, the Philipinnes, Egypt, Guatemala, Honduras and Costa Rica, thousands of billers and merchants are supported. Visit the Zypto website for more details.
Ever paid an online bill with crypto? What was the experience like? Share your comments below.
FAQs
What is Zypto Pay?
Zypto Pay is a crypto payment service powered by Zypto. The processor has a “Pay Bills With Crypto Service” that allows people in 10 countries to process crypto payments online.
Can you pay rent with crypto?
Yes, some landlords allow tenants to settle their rents with Bitcoin and other cryptocurrencies. You can make the payment directly to them or use payment gateways such as Zypto Pay.
Which crypto can be used for payments?
You can pay bills with Bitcoin and other cryptocurrencies, depending on the service provider. However, Bitcoin remains the most popular crypto payment method. Zypto offers a popular ‘Pay Bills With Crypto’ service in 10 countries around the world.
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