QR codes? Popular. Cryptocurrency? Popular. Combine these two technologies and get a fast and efficient way to transfer cryptocurrency. Not only is it more useful, but it also prevents users from making mistakes when typing in cryptocurrency numbers.
The popularity of QR codes is obvious – you can find them everywhere. Turn your favorite biscuit pack upside down and you can find a QR code on the back for more information. When you look at a bulletin board down the street, you’ll find a code with directions and special offers.
On the other hand, the cryptocurrency is not new at all, but it has gained worldwide fame with the explosion of Bitcoin in the last few years. However, whether you are dealing with Bitcoin, Litecoin, EOS, Ethereum, Dash, or any other cryptocurrency, transactions can be quite stressful due to their long number.
Fortunately, QR codes can also be paired with cryptocurrency. Most people use codes to link to their website – special offers, terms and conditions, etc. Some associate QR codes with vCard contacts, text messages, emails or plain texts, among others.
The application of QR codes to the world of cryptocurrency is not as popular as other solutions – mostly because there aren’t many people involved with cryptocurrency. Now how are you applying QR codes to cryptocurrency and what is the easiest way to do it? How to send cryptocurrency – The Classic Way
There are more ways to send cryptocurrencies, and while QR codes for cryptocurrency can make it easy, many users still rely on the classic solution. Simply put, you can transfer Bitcoin or other cryptocurrencies in a few different ways – you can pay at a point of sale, order something online, and even transact face-to-face.
The transfer of knowledge is the most complex part of the process – not necessarily difficult, but it is laborious and stressful. The address of cryptocurrency is nothing but data. Normally between 27 and 34 characters.
The creditor will need to contact the payer or provide a lengthy address. The hard part comes – you can’t copy and paste. In other words, you’ll have to write it on your own. Most people check two and three times because making mistakes is extremely simple.
Once the payer has these details, they can make the transfer. It happens instantly and does not require any confirmation or complicated procedures. Click to send, payment will be made immediately. If it is not to write a long code with all types of characters, then the process itself is not difficult. How to use QR codes to send cryptocurrency?
When it comes to QR codes, cryptocurrency transactions are becoming much easier than usual. The QR code represents a quick way to perform actions such as visiting subject websites, adding contacts, and even transferring cryptocurrency.
Besides speed and convenience, users get simplicity. Forget about writing all these characters one by one. Instead, the payer needs to scan the code, and the data is retrieved through the browser. It is a safe way to buy cryptocurrency from one place to another.
This feature is useful in most cases, but especially in face-to-face transactions. Since copying and pasting will never work, writing long codes by hand becomes history. Missing or misspelling a character will cause the operation to fail.
So how do you really do that?
The recipient needs to create a QR code for their data. This is usually done with software or manufacturers over the Internet. Most of them are offered for free, but the premium ones provide more design and customization features.
On the other hand, the sender will need to scan the code first. They also need to open their wallet app and make sure they have the corresponding amount of cryptocurrency first. Select the amount to send, then select the QR feature and scan the code.
After the code is scanned, it will identify the address itself – all these characters. To avoid problems, all details should be double-checked in advance – the address and the amount sent. The transaction will then be confirmed and the cryptocurrency will be transferred. Benefits of using QR codes for cryptocurrency
As with everything else that involves using QR codes, there are some benefits that will make this feature extremely useful. Most importantly, you have comfort. Whether you are the creditor or the payer, you may forget to write down the address of the cryptocurrency yourself. Missing or incorrectly performing a character can cause the transaction to fail – one of the most common mistakes made when dealing with cryptocurrency.
You have speed as well as ease. Imagine how long it takes to write your data to yourself, not to mention waiting for someone else to do it. While the process takes forever in face-to-face transactions, a QR code can perform in just seconds.
Despite the fact that it may feel insecure, the truth is that such a procedure is extremely safe. If someone has the address of your cryptocurrency, all they can do is send you money without taking anything from you. Therefore, it works only in one direction.
If you’re using cryptocurrency to raise money or receive donations for a cause, you can also track the effectiveness of your campaign. QR codes allow for a large number of statistics. If you place your code in a few different places, you’ll know which ones are more efficient and which ones are failing. The stats are free, but you can also invest in the software for more precision and detail.
Last but not least, QR codes are available for free. Most manufacturers do this without a single penny – just open your favorite search engine, search for a QR code generator, and you’ll have thousands of results. Select one of the QR codes that generates enter the data for the cryptocurrency and export it as an image. There are also premium generators that offer more customization options in terms of design. Where and how to use QR codes for cryptocurrency?
Simply put, if you buy cryptocurrency for any reason, using QR codes will make everything smoother and easier. Basically, you’ll be able to make things easier for those who pay. You can avoid mistakes, errors, and frustration caused by misspelling a single character.
QR codes for cryptocurrency make a great option for charities and those who raise money for specific reasons. Whatever they use to advertise – flyers, billboards or websites, having a QR code out there will act as a call to action. People will be more willing to donate if they can find an easy way to do this. Otherwise, they will postpone it until they give up on the idea.
QR codes for cryptocurrency also allow for a great deal of customization. Most importantly, you will need to provide the address. However, you can also add more details so that payers feel safe. You can add the name and the minimum recommended amount – this option is also great for online stores. Tips and tricks for using QR codes for cryptocurrency
When a payer scans the QR code, their device only receives the payee’s public address. In another word, some data needs to be filled in manually. However, these details are basic – for example, the amount sent. Network fees will also be indicated.
It’s also worth noting that the addresses are specific to specific coins, and transactions are not cross-platform. For example, if you have BTC and you have given your address, you will only be able to receive BTC. People can’t send you ETH or other cryptocurrencies.
QR codes are perfect when it comes to sending cryptocurrency from one device to another. You can send currency to an exchange using the wallet app on your smartphone. Is it safe?
There is no doubt about the security standards associated with QR codes for cryptocurrency. You can leave flyers around your city and hope someone sends you money – there’s no risk associated with that.