The economic landscape of today’s world is astronomically intricate and diverse. There are hundreds of different currencies around the world, and millions more products that are traded in those currencies.
With advances in technology and a drive for a society based upon free association and trust, the principle of alternative decentralized currencies has taken the world by storm.
Currently the most popular alternative currency, also sometimes called cryptocurrency, is named Bitcoin.
What Is Bitcoin?
Bitcoin is the first widely accepted decentralized, person-to-person financial network that is powered by those who use it, with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence today, and is greatly expanding it’s scope.
How Do I Get Bitcoin?
Bitcoin can be obtained in two ways: mining and purchasing. ‘Mining’ is a method of earning Bitcoin by performing mathematical calculations to confirm payments made within the blockchain (Bitcoins public ledger). After a certain amount of confirmations, called a block, that block is submitted and if it is accepted a pre-determined reward is payed out. This can be resource intensive, and may or may not be a viable method of obtaining bitcoin in your situation. It is possible to join a group of individuals called a mining pool, like Genesis Mining, and invest your pooled funds into mining operations.
Purchasing bitcoin can be done in numerous ways from a growing list of exchanges. We recommend Coinbase or Circle, as they are trusted within the community and utilize best practices when it comes to security. These options also contain what is called a bitcoin wallet, which stores your bitcoin safely and securely. There are many other options out there!
More info about Bitcoin Wallets can be found here.
How Do I Buy CBD Oil With Bitcoin
Be sure that you have your Bitcoin wallet available for checkout because you will be ‘sending’ Bitcoin to our Bitcoin Wallet from yours. After selecting the amazing CBD products you would like to order and adding them to your cart, you will have the option to checkout with CoinPayments.net. Select that option, make sure to check off the Terms and Conditions box, and then click the “Place Order” button when you are ready to checkout.
The site will then direct you to the payment portal at https://www.coinpayments.com/index.php, followed by information about the order to fill in the form for you on their website. Once there, please verify the shipping information and dollar values of the order. Once those are verified as correct, select the cryptocurrency you would like to use. In this tutorial we are using Bitcoin, which is denoted as the button with the abbreviation for Bitcoin, BTC, along with the orange circle with a white B in the center of that circle. The coins we accept may be different than the image below, so keep that in mind when making your selection.
The value of Bitcoin for this order is determined by calculating an average of the most popular BTC indexes, and a cost in Bitcoin is then displayed in relation to the dollar value of the order.
Please verify that there are enough funds in your Bitcoin wallet before clicking the Complete Checkout button. Once you are ready, click the Complete Checkout button.
From there, another page will display from https://CoinPayments.net/index.php?cmd=checkout, which will have a 3 hour timer ticking. This is the amount of time allocated before automatically cancelling the order in our systems, which gives our customers a little extra time and not feel rushed during the checkout process.
Also on this screen will be a reminder of the amount of Bitcoin to send, as well as a 34 digit alphanumeric (letters and numbers) wallet ID, which is where the Bitcoin is being sent to.
1)Please send the specified amount of BTC to the address presented to you. In the example above, the wallet ID/number is 18SWB13P9YNjXvfSPVxQmWJBeLqQcugpFb (Make sure to send enough to cover any coin transaction feesThe normal fee for BTC is usually 0.00010000, but your online wallet or exchange may charge an additional fee.)
a)You will need to initiate the payment using your software or online wallet and copy/paste the address and payment amount into it. We will email you when all funds have been received.
b)You have 3 hours for us to receive confirmed funds. If you send funds that don’t confirm by the timeout contact us at 855-422-3645 or firstname.lastname@example.org with the information below and CoinPayments.net will manually approve your order. Please make sure you have the following information handy when calling
i) The transaction ID noted in the “What To Do Next” informational tab.
ii) A payment address to send the funds to if you would prefer a refund, which will be your wallet number.
iii) The verification code: also noted in the “What To Do Next” tab (to verify that you are the transaction sender).
2)After sending payment, review the status of your transaction on this page. Once the payment is confirmed several times in the block chain, the payment will be completed and the merchant will be notified. The confirmation process usually takes 30-45 minutes but varies based on the coin’s target block time and number of block confirms required. The status page is available for the next 30 days.
When your payment is complete, return to our store via the link provided. An email will be sent to you confirming the order’s placement, and shipment will commence within 24-48 business hours, or notification will be sent if any delays are expected.
Thank you so much for choosing us for your CBD needs.
Should you have any questions, please feel free to contact us.
Some of the links to websites other than ours may contain an affiliate link, meaning that we may or may not receive compensation for business driven by those links. Fighting today’s banking regulations within the merchant processor space in regards to our business model has taken it’s toll on our business, and we greatly appreciate your support while we continue to push forward with providing quality CBD hemp oil products to you and your family.
If you have taken the time to go through this blog post, and if you decide to use Bitcoin as your preferred method of payment, you will receive a 5% discount with coupon code BTC4CBD during checkout.
Did this tutorial make sense? What was tough to understand? We always strive to make tutorials like these as easy to follow as we can. Please leave a comment below with recommendations or questions and we will do our best to answer you, or adjust the tutorial to make it easier to understand. Thanks!