We believe that cryptocurrencies have the future and as such, we want to accept your crypto payments for events as well as help you get started in bitcoin if you haven’t already.
If you just want to make a single payment for an event, you only need 3 steps which will take you about 20 minutes the first time:
1. register for an exchange
2. buy XLM (stellar) or any other cryptocurrency
3. transfer to our wallet (ask us for our wallet address)
1. register for an exchange
You will need your passport, a computer with webcam and around 15 min of your time.
You need an exchange that changes euros or dollars for XLM, IOTA or other. At the moment BITPANDA is one of the fastest and easiest ones. KRAKEN is cheaper but takes a bit longer.
You’ll have to complete a verification process to get a sufficient deposit/withdrawal limit. For Bitpanda this is GOLD level and includes a short video call and they will ask you to show your passport on your webcam. With Kraken you upload your ID documents.
2. buy XLM, IOTA or other
You’re now ready to buy your first cryptocoins. We accept most, but prefer coins like XLM (stellar) over BTC (bitcoin) for environmental reasons as bitcoin uses a huge amount of computer power and therefore energy. Fill in the amount that you want to deposit. There are several payment options. Note that you often pay a fee for credit card deposits. We recommend deposit a little bit more than the required amount to cover transaction fees, specially if you’re not planning to transfer to our wallet immediately, as the exchange rate can vary quite a lot over a few hours (both up or down). And now that you’re on it, you might also want to keep some for yourself…
3. transfer to our wallet
Click on my account –> wallet –> stellar (or iota or bitcoin or…) –> send
You can now copy/paste our wallet address in the payout address field and the amount in EUR that you want to send.
Please let us know when you’ve completed your payment so we can track it.
Some more information
If you’re not sure what the difference is between “bitcoin”, “cryptocurrency” or “blockchain”, start checking out some videos on YouTube. These are two good short ones, but you can find a hundred good more detailed alternatives:
Understand the blockchain in two minutes
Blockchain simplified (TEDx)
We also recommend watching the documentary “banking on blockchain” which you can find on Netflix.
And for some more in depth, you can read this article.
First, a general word on starting in crypto:
Only invest what you’re willing to loose. Don’t base your strategy on a single source. Spread your investment widely to spread the risk. The volatility in crypto is crazy, so you’ll be riding the wave both up and down. Don’t sell in panic, most waves will come back up. Don’t buy in FOMO, most waves will come back down. At all times, do your own research and make your own informed decisions.
Crypto currencies are hardly regulated today and everything happens in the digital space. There’s a lot of value going around, which means it’s the wild west out there with hackers, scams, phishing sites and other things to be aware of. Bitcoin is not a company so there is no one to help you, no call center to complain to. If someone steals your passwords or your private keys, your money is gone. A few tips to stay safe:
1. Beware of phishing sites! Bookmark your wallets and exchanges to prevent yourself from ending up on a scammer site.
2. Get to know each wallet that you use. Backup your wallet and store your recovery pass phrase.
3. With every new exchange site that you create an account for, enable “two factor authentication” to increase security.
4. Don’t use a public internet connection when dealing with anything money/password related. Use a safe browser like Brave and use a VPN like Nord VPN.
5. Use difficult passwords and store keys, passwords and pass phrases off line and/or encrypted. Don’t write them down in a file on your computer.
A wallet is nothing more than a file that holds the keys to your account. Coins are never stored in a wallet, but on the blockchain. That’s why you can recover your coins when you loose your wallet by using a recovery pass phrase. There are many different types of wallets out there: desktop versions, mobile apps, online storage and hardware wallets. A very easy-to-use mobile wallet is Ethos.
There are already over a thousand different crypto coins and tokens available, each with different properties and teams behind them. Coins other than bitcoin are often called altcoins. A handy site that lists them all is coinmarketcap.com. For each coin or token it shows the market history, a website with background info and the markets where you can trade them. Most exchanges like Bitpanda that accept fiat (USD, EUR etc) offer a limited amount of coins. Other currencies can be traded for bitcoin or ether on exchanges like Binance. You can find many tutorials on youtube to help you figure that out.
Don’t leave too many coins sitting on an exchange site: they sometimes get hacked and then your coins could be gone. Transfer them to your wallet of choice. Be careful, a spelling mistake in your wallet address and your money is gone forever. You could try the first transaction with a small amount.
When you’re passed all this beginner stuff and you want to get in deeper, you can start with some more in-deep podcasts:
Future Thinkers episode 33
Future Thinkers episode 41