Crypto 102: Sending Bitcoin & Making Payments

Yesterday we talked about opening a wallet on a digital currency exchange, like Coinbase. Then we used a debit account to add Bitcoin to your wallet.

Look at all that beautiful Bitcoin we bought yesterday!

Today we’re moving to the big leagues: activating the sending feature on your wallet and making a purchase order on Textverified — and tomorrow we’ll talk about how to pay for your purchase order after you’ve received your payment invoice.

Starting at your digital currency exchange provider, first you’ll need to verify your identity. Before allowing you to enter a payment method, Coinbase, and any other digital currency exchange, will ask you to verify your identity. This step involves uploading a photo of government-issued ID — generally a Driver’s License or a State ID works fine.

Two side-by-side mobile screenshots showing the identity verification process

Be patient — it may take some time for your cryptocurrency service provider to verify your identity. You should be ready to go in a couple hours at most.

Now we’ll navigate over to Textverified to make a purchase. Remember, when you make a purchase on Textverified, you’re NOT purchasing a rental number right away — what you’re doing is adding credits to your Textverified account so that you CAN pay for future number rentals from this balance.

Log-in to your account and click “Buy” in the navigation bar. You’ll be taken to a purchasing page that looks like this:

Please note that support is currently underway to restore Litecoin & Ethereum payment options

Use the slider bar to select the amount of cryptocurrency you’d like to purchase, or enter it in the box below and click the “Buy” button. You’ll then be directed to this page:

Purchase amounts are displayed in USD, then you choose which cryptocurrency to use

This is where you’ll choose your cryptocurrency payment type. In all of our examples, we’re using Bitcoin, but support will be restored soon for Litecoin and Ethereum.

In the screenshot above, we are purchasing $7.50 USD worth of Bitcoin to add to our Textverified account. To keep things simple, the purchase amount will always appear in USD or your own local currency.

Click “Continue” and then you’ll see a page that looks like this:

A payment invoice for a new order showing a rate conversion from USD to Bitcoin (BTC)

This is your payment invoice for your purchase — it is NOT a purchase yet. A payment invoice indicates to us that you wish to make a payment.

At the top, you’ll see an Order Number for this specific transaction. Then you’ll see the current amount you owe in Bitcoin. The amount you entered in USD (or your local currency) on the previous pages has been converted to Bitcoin. That Bitcoin amount is what you’ll need to pay in order to add to your balance on Textverified.

Please keep in mind that a conversion rate like the one displayed above is ONLY active for 15 minutes, so that’s why we list a “Payment Window” at the bottom of your screen.*

So you’ve activated the sending feature in your wallet and you’ve placed an order on Textverified. Then you received a payment invoice from us.

Now you know exactly what you owe, but you still need to actually pay this balance, all in 15 minutes or less — but don’t panic! This next step is pretty easy and we’ll explain it all tomorrow in “Crypto 103: Paying for a Purchase Order with Bitcoin.”

* Wondering what’s up with that 15-minute time limit on your Textverified order? The value of Bitcoin, like any traditional currency, fluctuates throughout the day. To keep our rate conversions as up-to-date as possible, you’ll need to request a new transaction if you’ve haven’t paid this amount within the 15-minute timeframe. Don’t worry, there are NO penalties for missing the 15-minute window — it’s only there to ensure you get the most current conversion rate for your cryptocurrency.

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