How to accept bitcoin payments with my Material Wallet?

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13 de December de 2023

Important: Before proceeding with this tutorial, make sure you have read and understood this Bitcoin and Cryptocurrency Security Best Practices Manual. The advice provided on cryptocurrency and/or bitcoin trading is for informational and educational purposes only and does not constitute financial advice or investment recommendations. The cryptocurrency market, including bitcoin, is highly volatile and poses significant risks. Any investment decision or transaction made based on the provided information is the sole responsibility of the user. We strongly recommend conducting thorough research, consulting professional financial advisors, and considering your own financial situation and risk tolerance before engaging in any cryptocurrency and/or bitcoin-related activities. We are not responsible for any loss or damage resulting from the misuse of the provided information.


Accepting payments in bitcoin is very useful, both for businesses and freelancers, or even for individuals conducting casual transactions. It provides privacy and total control over your money. If you want to accept payment in bitcoin, you just need to provide your bitcoin address. In other words, you have to give your payer the code that appears on the front.

 

placa de material bitcoin

 

For example, your address could be something like this: bc1qfwr2nt7v943xljlvuveqwdnapltrap5pf7rs5s To better understand, consider this example: Imagine you want to charge for a job or a product through a bank transfer in euros. You would only need to provide your bank account number to indicate to your payer where to send the money. The address of your bitcoin plate is your “bitcoin account number”. And it is unique in the world.

Practical Tip!

Scan the QR code of your plate with your mobile phone to get the address without having to copy it by hand. This is important because it will help you avoid possible copy errors. Remember that bitcoin transfers are irreversible. Sending to an address that is not yours is equivalent to losing the money.

How much bitcoin to receive?

When you request payment, you will need to specify how much bitcoin you want to receive. Continuing with the example, imagine you have done a job worth 2500€, and you want to be paid in bitcoin in your Material Bitcoin plate. Search on Google for “euros to bitcoin.” You will find numerous calculators that will allow you to translate those 2500€ into the corresponding bitcoin amount, according to the current price. For example, at the time this article was written, 2500€ was equivalent to 0.061 bitcoin.

Can I generate an invoice for my payer?

Of course, you can. Although bitcoin payments received to your Material Bitcoin plate are inherently anonymous, if you wish, you can create an invoice just like you would with any FIAT currency payment (euros, dollars, etc.) When generating your invoice, you will need to put the amounts in bitcoin, along with their correspondence in the currency of the country in which you want to present the invoice (for example, in euros).

How do I check if I have received the payment?

There are numerous free online services, such as on our website or on Blockchair. Click on the camera icon to scan the QR code of your plate and check the history of movements (balance, incoming and outgoing money).

Expert’s trick

Material Bitcoin plates can be accompanied by a second, thinner and lighter plate, for you to always carry, for example, in your wallet. This is an addition you can contract when acquiring your Material Bitcoin.

 

portable

This second plate does not include the private key of your Material Bitcoin wallet. This means that if you lose it or it is stolen, your bitcoin will remain safe in your main wallet (the thicker Material Bitcoin plate). If you are going to receive bitcoin payments, it is recommended that you offer your portable black Material, instead of your main wallet. Remember that no one except you should be able to see the private key (which is under a metal sticker on the back of your Material Bitcoin wallet) at any time.

In practice

If you are requesting payment online

You will write to your payer a message (for example, an email) in which you will say something like: “Send me 0.061 bitcoin to the address bc1qfwr2nt7v943xljlvuveqwdnapltrap5pf7rs5s.” *This is an example. Put in your own data.

If you are requesting payment in person

Show your Material Bitcoin plate so that the other person (your payer) can scan the QR code of your plate. For security reasons, it is recommended to offer your portable Material (the black one) because your money will be safe in case of theft or loss. Following these guidelines, you can privately and securely receive bitcoin payments on your Material Bitcoin. Remember, you can contact us with any questions 24/7!

Eva Robledo - Material Bitcoin

Eva Robledo - Material Bitcoin

Eva Robledo has specialized in both professional marketing and advanced SEO. She is currently working on various projects related to the world of trading, cryptocurrencies, and finance. With extensive experience in content creation for these areas, among others, she brings valuable expertise to her endeavors.

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