Crypto Payments - Where to Purchase and Best Options for Payment

A quick intro to crypto

Cryptocurrency is a form of digital money that operates online without being controlled by banks or governments. Instead, it relies on blockchain technology, which is a secure, public ledger that records all transactions transparently.

Bitcoin was the first cryptocurrency, launched in 2009, and many others, like Ethereum and Solana, have followed. While crypto can act as an investment tool, it is also revolutionizing online payments by providing a faster, cheaper, and more efficient solution to traditional methods.

Why Bitcoin is no longer recommended for transactions

While Bitcoin is still a great option for online crypto payments, network congestion caused by accelerated on-chain activity can lead to slower transaction times and higher fees.

Most Bitcoin transactions take around 10 minutes to go through with a $2-3 associated fee, however with extreme network congestion, payments can take anywhere up to 2 hours to process with a $10-50 fee.

Which coins do we recommend and why?

Seedsman highly suggests using alternative networks such as Solana due to its consistently low fees and fast transactions with near-instant settlement.

Solana payments take around 0.5 seconds to go through with an average associated fee of $0.00025, making for a much faster, cheaper, and stress-free checkout process!

Solana is the fourth largest cryptocurrency in the world and can be purchased or swapped on every major crypto exchange (Coinbase, Binance, Kraken) and popular e-money apps such as Revolut, Etoro, Robinhood, and Phantom.

How easy and long does it take to set up an account and send crypto?

Buying crypto has never been easier! Getting yourself set up on a centralized crypto exchange (Binance, Coinbase, Kraken) takes a few minutes and with basic verification, you will be able to deposit up to $10-20k as soon as you open your account with easy payment methods (Apple Pay, Bank Transfer, PayPal etc).

Some simple KYC verification will unrestricted these limits should you want to make larger deposits.

If you are new to crypto, setting up an account, depositing funds from your bank, and buying & sending your preferred asset through Coingate on Seedsman should take no longer than 10 minutes!

While centralized exchanges are a great option, you are not limited to these to purchase crypto. Most of the large e-money apps now offer crypto services to all their customers such as Revolut, Etoro, and Robinhood, and decentralized crypto wallets/exchanges such as Phantom and Jupiter that all support Apple Pay, Easy Bank Transfer, Paypal + more!

With these apps, setting up an account, depositing funds from your bank, and buying & sending your preferred asset through Coingate on Seedsman should take no longer than 5 minutes!

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