How I Dealt with Crypto Payments: A Beginner's Personal Experience

Transferring crypto from wallet to wallet seems like a simple task, but when I tried to do it for the first time, I nearly had a heart attack. Now I will share my experience without embellishments.

The essence of the process is simple — you send digital coins from one wallet to another through the blockchain. It sounds simple, but the devil, as always, is in the details.

My First Transaction: Fear and Loathing in the World of Crypto

When I first decided to send Bitcoin to a friend, I was shaking. The wallet address looked like a random string of characters, and the thought that one typo could send the money into oblivion made me check every letter three times.

I'll be honest, some cryptocurrency exchange platforms are designed almost specifically to confuse the user. The interfaces can be so frustrating that you feel like smashing your monitor. And sometimes the fees are so high that you want to cry.

Real cases from my practice

Online shopping

Last year, I decided to buy a gaming console from an overseas store. I paid with Ethereum directly. The store used some payment gateway - I won't name it to avoid advertising. The process turned out to be surprisingly smooth, although I was constantly afraid that something might go wrong.

Transfer of money to a relative in another country

When my brother urgently needed money while he was traveling, a bank transfer would have taken several days. I sent him XRP — a coin designed specifically for fast transfers. The transaction was completed in a matter of seconds, and the fee was negligible. It really impressed both of us!

Payment for freelancer services

I am working with a designer from another country. I used to struggle with international transfers, but now we pay each other in stablecoins. No hassle with currency conversion, everything is quick and transparent.

A bit of statistics and observations

In my observations, over the past few years, the number of stores accepting crypto has increased fivefold. And it's not just digital goods stores! Even in my city, several cafes have opened where you can pay with Bitcoin.

But there are also problems. The volatility of crypto can turn an ordinary purchase into a gamble. Today your bitcoin is worth $40k, and tomorrow it’s already $35k. Therefore, for payments, many choose stablecoins — they are pegged to the dollar and do not fluctuate as much.

Using crypto for payments has its advantages — low fees ( although on the bitcoin network during peak hours it varies ), fast international transfers, no intermediaries. But there are also disadvantages — complexity for unprepared users, the risk of error when entering an address, and the inability to cancel a transaction.

If you are just starting to understand crypto payments, start small. Make a few small transactions to understand the process. And yes, storing your wallet keys in a safe place is not just a recommendation, it's a matter of survival in the crypto world!