Cryptocurrencies are gaining more and more space and acceptance in the market. Since 2008, when Bitcoin emerged in the midst of the financial crisis, virtual currencies went from unlikely to plausible in a short time, and it is now possible to pay bills with bitcoins.

Even though many talk about speculation, lack of regulation in the sector, complexity, scams and risk of bubbles, digital currencies are increasingly attracting the attention of professional investors and even those who are beginning to venture into this digital universe of applications.

Furthermore, upon noticing such growth and acceptance, companies are beginning to reasonably adopt new forms of payment using cryptocurrencies. 

In Portugal, for example, there are already restaurants, accommodations and even law offices that accept Bitcoin instead of traditional money as we know and are familiar with it.

And around the world, some corporations already make salary payments to their employees with Bitcoins. 

So, if you already have cryptocurrencies, if you plan to have one or if you are just curious about this new world, keep reading this article to find out how to pay bills with bitcoin and other virtual currencies.

Just like traditional currencies, cryptocurrencies need to be stored somewhere. But, in contrast to physical money and cash, virtual currencies cannot be left in your pocket, obviously.

Therefore, before talking about financial transactions, we need to go over some basic concepts of processes in the digital world.

Digital wallets or wallets emerged to store cryptocurrencies and enable buying, selling and trading.

So, to make payments with bitcoin, you first need a wallet to buy and store your coins.

There are several available and the tip is to research extensively to find the one that best fits your profile, needs, budget and goals.

From the wallets, financial transactions with cryptocurrencies can be carried out. 

Furthermore, all these transactions are stored and recorded in a public environment called blockchain.

In general terms, the blockchain system for cryptocurrencies would be similar to banks for cash.

Furthermore, user data is kept anonymous and for each transaction there is a confirmation code, with no possibility of undoing the operation.

The main point defended by enthusiasts of this digital world is the decentralization allowed by cryptocurrency transactions.

In other words, there is no need for intermediaries, which makes transactions faster, less costly and more convenient for both negotiating parties.

On the other hand, this can generate volatility and security risk, as there are still regulatory and user protection points that need to be addressed.

Whenever we talk about cryptocurrencies, we need to warn about the risks. Therefore, before teaching you how to pay bills with bitcoin or others, know that even though it has greater market acceptance, it is still a new universe with some security and regulatory issues to be resolved.

However, if you are already familiar with virtual currencies, you can benefit from the advantages of paying bills with cryptocurrencies, especially bitcoin.

So, first, look for the “Bitcoin accepted here” sign, whether on websites or in stores, restaurants and other establishments in Portugal and around the world. 

In Lisbon, for example, you can enjoy ramen and pay for it with your virtual coins.

There are also websites that allow you to pay bills with bitcoins. In addition to allowing this type of payment for billing and consumption slips, these sites allow currency and PIX conversion.

So, simply quote Bitcoin, open a request to pay your telephone, electricity, water, financing, condominium, or credit card bill, and carry out the transaction by linking your wallet to the website in question.

But, as we said above, before looking for these establishments and websites in Portugal, you need a virtual wallet to acquire, store and convert your bitcoins.

Therefore, do your research before becoming a cryptocurrency holder, consumer and investor.

Finally, after purchasing, converting and having enough bitcoins to pay your restaurant bill or purchase a product via Paypal, just search for the BTC address or QR Code and confirm the transaction.   

Considering that transactions are anonymous, and you do not need to provide a credit card number or identity, anonymity and privacy allow for greater security in this regard.

Furthermore, the cost is lower due to decentralization, and the agility of the transaction becomes greater, as the need for intermediaries is eliminated.

Therefore, the number of establishments accepting bitcoins as a form of payment will probably increase significantly in the coming years.

However, this will also be linked to the level of development of regulations for the digital market and ways to guarantee greater security for all users in the chain.

Stay tuned for news and decide whether it is worth joining the innovation based on reliable information and complete content about the world of cryptocurrencies. And, if you want to buy bitcoin, check out the step-by-step instructions below to do so safely!