How to Use Bitcoin with SolidTrust PayPosted: August 14, 2019
Today, bitcoin is the largest and most well-known digital currency. Since its creation in 2009, it has become the preferred payment method for millions of online consumers. You can now book flights, buy web domains, pay for computer products and purchase household goods using bitcoin. As the list of companies who accept cryptocurrencies continues to grow, we have ensured that your SolidTrust Pay e-wallet is fully compatible with bitcoin. This guide will explain how to easily buy bitcoin, exchange it to USD, withdraw it to your bank account and accept it as a merchant.
Buying Bitcoin with SolidTrust Pay
Before you buy bitcoin using SolidTrust Pay, you must first create a secure STPay account and set up an external cryptocurrency wallet. Popular cryptocurrency wallets include Coinbase, Mycelium and Electrum, but there are dozens of options to choose from. Always research your chosen wallet and make sure that it possesses excellent security features.
Once you’ve set up your STPay account and cryptocurrency wallet, buying bitcoin with SolidTrust Pay is fast, easy and most importantly, secure. We have been a leader in the online payment industry since 2006, and our corporate-grade anti-virus and firewall protection is continuously monitored by our network of international security personnel. To buy bitcoin with your SolidTrust Pay account, follow these easy steps:
Step 1) Create your SolidTrust Pay account by clicking HERE.
Step 2) Verify your account to the Standard Verified level. For more information about our 4 account verification levels, please click HERE.
Step 3) Set up two-factor authentication (2FA) using your smartphone or desktop/laptop. For detailed instructions, please click HERE.
Step 4) Create a cryptocurrency wallet and connect it to your SolidTrust Pay account. If you are using a desktop application, click HERE for detailed instructions. For smartphone instructions, please click HERE.
Step 5) Deposit the amount you wish to spend on bitcoin into your SolidTrust Pay account using a bank transfer, a credit card or a transfer from another STPay member.
Step 6) Log in to your SolidTrust Pay account and navigate to My Money > Withdraw Funds. Next, click on the Altcoins option.
Step 7) Select the amount of money you would like to withdraw to your bitcoin wallet. It may take up to 24 hours for your deposit to appear in your cryptocurrency wallet.
Steps 1 through 4 only need to be completed once. You will then be able to easily buy bitcoin by following Steps 5, 6 and 7. Once your account has been Standard Verified and connected to a cryptocurrency wallet, you may withdraw up to $2,500 per day from your SolidTrust Pay account (Bank Verified members may withdraw up to $5,000 every 24 hours).
Selling Bitcoin with SolidTrust Pay
Selling bitcoin is even easier with SolidTrust Pay than buying it! You only need to have your account Card Verified in order to make bitcoin deposits to your SolidTrust Pay e-wallet. All bitcoin deposits are automatically converted to U.S. dollars.
To sell bitcoin using your SolidTrust Pay e-wallet, make sure that your cryptocurrency wallet has been linked to your SolidTrust Pay account and that you have enabled Two Factor Authentication (2FA). Next, log in to your STPay account and go to My Money > Deposit Funds and select the Altcoins button.
For a complete overview of our daily transaction limits, please click HERE. Once deposited, you can spend or transfer your funds online. Please note that bank account withdrawals are currently only available to members residing in Canada.
Accepting Cryptocurrencies as an Online Merchant
As an online merchant, it can be difficult to predict important trends that will impact your business’ success. Fortunately, adding a cryptocurrency payment option to your SolidTrust Pay checkout is easy. Cryptocurrency payments are instantly converted to U.S. dollars and credited to your merchant account – no external wallet is required! Contact a Business Account representative today and take advantage of our free programming assistance.
Transferring Bitcoin from Your SolidTrust Pay eWallet to Your Bank Account
We’ve made it easy for our Canadian members to withdraw bitcoin to their preferred bank account. Once you have linked your cryptocurrency wallet to your SolidTrust Pay account and have made an initial bitcoin deposit, you can then proceed to connect your bank account to your STPay account. To do this, log in to your STPay e-wallet and navigate to Bank & Cards > New Bank Account. Most bank accounts can be instantly verified by following the on-screen instructions. After linking your bank account, you can easily withdraw funds from your SolidTrust Pay e-wallet by going to My Money > Withdraw Funds and inputting the amount you would like to withdraw. Your funds will be credited to your bank account within 5 business days.