this post was submitted on 08 Jan 2024

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What's the best way to pay an online merchant using Crypto for someone who has never bought/used it before? (lemmy.dbzer0.com)

submitted 10 months ago* (last edited 10 months ago) by [email protected] to c/[email protected]

11 comments fedilink hide all child comments

I trust the provider, and it's a small amount I'm willing to risk. Just don't want to throw it away, be frustrated, or get involved with shady people.

Android/Windows user, btw.

Late Edit: for those people who are wondering why I would ask Lemmy strangers about my money decisions, let me tell you my thinking.

I am in the decision making process. One of the things I do when making decisions is gather information from a variety of sources. I then weigh that information as to how useful I find it, research any possible leads, and use it as a launching point for my own investigation. I find that beats the hell out of googling whatever I can think up on my own in a field where I have no experience whatsoever.

For clarification, I'm not telling anyone else how to do anything. You humans live your life however you want, and I respect you as individuals with opinions of your own. Live how you want to live, choose how you want to choose, be how you want to be.

Much peace to all ✌️

all 12 comments

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[–] [email protected] 10 points 10 months ago (1 children)

What crypto are you trying to pay in? If BTC, probably cashapp or strike (if available in your country) is probably the most straightforward. Be forewarned: both of these are KYC (know your customer) apps, so if you are purchasing anything that could be nefarious or illegal, you WILL get caught. BTC is very traceable unless you go through WAY more hoops and steps.

If you are looking for anonymous transactions and trust the seller, sending cash is probably the most anonymous without a ton of steps.

[–] [email protected] 4 points 10 months ago (1 children)

I was thinking Dogecoin. BTC seemed so weird, buying a hundredth or a thousandth of something. The purchase is an invitation for a private tracker I'm already a part of, so it's not like I'm buying cocaine or humans. I was just more aware of discounts for Crypto online and I was going to start dabbling.

[–] [email protected] 7 points 10 months ago

Not really familiar with Doge, so someone else will have to help. Best to think of BTC not as each individual BTC, but as Satoshis, or SATs. When you get rid of the decimal, it makes everything easier. So 1btc = 100mil SATs. Since 1usd is 2200 SATs at the moment, you just do some basic math.

Hopefully you find someone knowledgeable about Doge. Good luck in your transaction

[–] [email protected] 9 points 10 months ago (1 children)

coinbase has a virtual credit card

[–] [email protected] 11 points 10 months ago (2 children)

Why are we putting decentralized money on a centralized platform that has no way of insuring the money if it gets stolen...

[–] [email protected] 5 points 10 months ago

Low barrier to entry for a newbie

[–] [email protected] 2 points 10 months ago

If your main concern is theft, a decentralized currency is not for you.

[–] [email protected] 5 points 10 months ago

Do they accept Litecoin? If buying something "shady," then Monero. Then it's just searching for an exchange with/out a wallet that charges a fee % that you find acceptable.

[–] [email protected] -4 points 10 months ago

Why would you ask random people on the internet for advice with your money?