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Bitcoin and Bitcoin Cash are protected currencies for the internet. You can cover without handing out sensitive financial information, and you don't need an account.Watch our guide below to learn how to get started with blockchain payments to BitPay merchants.Get that a wallet1 First you'll need a Bitcoin or Bitcoin Cash wallet an program which lets you get, hold, and spend Bitcoin or Bitcoin Cash.

We recommend the open source BitPay bitcoin wallet program. It's a great option for paying BitPay invoices since it dynamically calculates sufficient miner fees. It's also secure and simple to use.Move Bitcoin or even Bitcoin Cash into your spending wallet2 If you don't have Bitcoin or Bitcoin Cash in your wallet yet, you will need to purchase some.Exchanges are accessible all over the world, allowing users to convert any currency into and out of Bitcoin and Bitcoin Cash.

 

 

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To use your Bitcoin or Bitcoin Cash, withdraw your Bitcoin or Bitcoin Cash from the exchange to a Payment Protocol compatible wallet before attempting to spend it. Make a payment3Making that a blockchain payment is fast, convenient, and incredibly secure.To make a payment, you won't need to enter any sensitive card information.

Don't forget to send your payment during the 15-minute payment window. BitPay only guarantees the fixed BTC or BCH price for this period of time. Do not send payments into expired invoices.There are several ways to cover a BitPay invoice from the wallet.Scan that the QR CodeAIf your wallet is on a different cellular device, you can scan this code to open the payment in your wallet.

Then make the payment. Open in WalletBIf your wallet is on the device you're using to see the invoice, you can open the payment in your pocket by tapping here. Confirm everything is correct, and your wallet will produce the payment.Send the Payment ManuallyCCopy the payment URL in the invoice and glue it in your wallet's"Send" screen, check your payment details, and send the payment.Bitcoin and Bitcoin Cash Miner Fees Miner charges will be the cost your wallet pays to get the computing power which confirms transactions on the Bitcoin and Bitcoin Cash networks.

 

 

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These fees can be lower or higher depending on the number of transactions waiting to be confirmed on the Bitcoin or Bitcoin Cash networks.Network Cost FeeThe Network Cost fee included in your invoice total covers the Bitcoin or Bitcoin Cash miner commission price of BitPay's transaction sweep to the payment.

Learn more about the reasons for this cost. Refunds & Order TroubleshootingBitPay supplies tools and reporting to allow merchants to look at successful payments and manage their own refunds in Bitcoin or Bitcoin Cash. If you would prefer a refund or need assistance in getting your order for an effective payment, please contact the merchant directly.

Bear in mind you will need to supply your BitPay invoice URL or your order ID for your merchant to assist you. Merchant refund policies vary, therefore please contact the merchant to discuss refund options. .

 

 

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When mining began, routine off-the-shelf PCs were fast enough to generate bitcoins. That's how the system was put upeasier to mine in the beginning, harder to mine as more bitcoins are generated. Throughout the last couple of decades, miners have had to move on to faster hardware in order to keep generating new bitcoins.

Programmer language aside, all this means is that the hardware is designed for one particular taskin this case mining.New faster hardware is being created by different mining start-ups at a quick speed and the price tag for a complete mining rigcapable of discovering new bitcoins on its own owncurrently prices in the ballpark of $12,000. Source .

 

 

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There is a way around such a hefty investment: joining mining pools. Pools are a collective set of bitcoin miners from around the world who literally pool their computer power with each other to mine. Popular websites such as Slush's Pool allow small-time miners to receive percentages of bitcoins when they include their personal computer power to the group. .

The faster your computer can mine and also the more energy it is contributing to the pool, the bigger percentage of bitcoins received. Bitcoins can be broken down into eight decimal points. Like pockets, pool websites are unregulated and the owner of the poolwho receives all the coins minedis under no legal obligation to provide everyone their cut. .

 

 

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Joining a pool means you can also use more hardware. USB ASIC minerswhich plug into any standard USB portcost as small as $20. "For a few hundred dollars you could earn a few dollars a day," according to Brice Colbert, a North Carolina-based miner of cryptocurrencies and operator of the website cryptojunky.com.

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