Pay With Crypto - We Now Accept Bitcoin, Litecoin, & Monero
I'm pleased to announce that you can now pay for items in the Kea Sigma Delta store using cryptocurrencies. Specifically:
- Bitcoin (BTC), including with the Lightning Network (LN)
- Litecoin (LTC), LN enabled, but probably not needed
- Monero (XMR)
Click here to watch the video on Odysee.
It's been a long time coming, and setting up the server has taken some time. Check out the video above to see the server. Yes, it's literally a small server a corner of my home...
Bitcoin's fees have become so high that it's unusable for small transactions. This is where the Lightning Network (LN) comes in. Unfortunately, it's a bit of a pain to set up. You need "inbound liquidity" in order to receive payments. This basically means other people need to open LN channels to your payment node with money at their end.
Kea Sigma Delta's bitcoin LN has some inbound liquidity, but would welcome some more. Here's the node's address if you're interested in connecting:
Full disclosure: our transaction volume isn't high enough for you to get rich processing LN transactions. So, if earning money running a bitcoin LN is your goal, then I suggest you connect to bigger nodes on the network.
What About X Coins?
I expect people will ask if I can support their favourite coins. For example, I bet pirate chain (ARRR) fans will say "Hey, you support monero. What about pirate chain?"
I will consider supporting other cryptocurrencies, but there are some requirements:
- The currency needs to have a fully supported and tested BTCPay server module (pirate chain fans, you have work to do...)
- My little server needs to have enough disk space to support it (blockchains are big, and always get bigger)
I can only support so many currencies before the hardware (and internet bandwidth) requirements get too big.
How Do I Pay Using Bitcoin/Crypto?
You will obviously need a Bitcoin/crypto wallet with some money. I recommend getting a hardware wallet, but it's up to you.
Next, add items to your card in the store as usual. On checkout, select "BTCPay (Bitcoin, Lightning Network, Litecoin, Monero, ...)" as payment method. Click on "Proceed to BTCPay, and follow the instructions there.
The process is very easy once you've learnt how to use your bitcoin wallet.
Hans de Ruiter 14/04/2022 1:39am (14 months ago)
It sounds like paying via crypto isn't for you. No worries, the other payment methods still exist.
If you do want to get started with bitcoin, I recommend getting a hardware wallet such as a Ledger or Trezor (just search for "hardware wallet Ledger"). Software wallets can be compromised if someone manages to hack your computer.
My current preference is the Ledger hardware wallet. Their setup instructions are pretty good, and the Ledger Live app allows you to buy bitcoin that's sent directly to you. I've never bought bitcoin via their Live app, though, because I use a local (Australia/NZ) exchange called EasyCrypto instead. EasyCrypto also allows buying cryptocurrencies and having the money sent directly to your own wallet (so no additional fees to get it into my own wallet).
Initial setup on a currency exchange can be a bit of a pain due to "Know Your Customer" (KYC) regulations, but it's pretty easy after it's all setup. Just double-check that you're sending to the right address...
Swedish Pete 13/04/2022 4:01pm (14 months ago)