Starting Cryptocurrency ~ Shopping

Before looking at the technical mechanisms concerning the dealing of cryptocurrency trading, let us understand what kind of operation is necessary to buy goods in cryptocurrency. Let's follow the flow from buying a cryptocurrency for the first time to purchasing products as well as “A” who is about to start a cryptocurrency now.
There are slight differences depending on the type of cryptocurrency, but here we will introduce a method common to most cryptocurrencies

Select Cryptocurrencies

There are various kinds of cryptocurrencies. The most famous thing in the cryptocurrency is bitcoin, which is only one of the cryptocurrencies. There are various kinds of cryptocurrencies as there are kinds such as yen and dollar in the big cushion called "cash". There are Ethereum (Ethicalam) and Monacoin (Monacoin) as major cryptocurrencies other than bitcoins. These currencies have units called ETH, Mona, so that bitcoin have units called BTC.

Open Account

As cryptocurrency must pay money to someone with unknown face, it is necessary to have an account like bank transfer money. However, in order to use the cryptocurrency, it is necessary to have more than one account number to say necessarily. Remember these multiple account numbers and all the balances in each account are nearly impossible manually, so we have to create a thing called Wallet. Wallet is a tool for managing multiple accounts at one time and calculating the balance of the cryptocurrency in the account.

Obtain Money

Although A was able to make a wallet,he can not do shopping yet as it is. A still has no cryptocurrency, so we need to get a cryptocurrency. The method of obtaining the cryptocurrency is mainly divided into three, "buy cryptocurrency in cash (Japanese yen) from a trader who exchanges cryptocurrency", "who is selling goods on the Internet and someone There are ways to say "to receive cryptocurrency from", "to mining (to mining)". For the third mining we will explain in detail later, this time we will explain the method of "purchasing cryptocurrency from dealers" that most people commonly use. Services that handle the exchange of cryptocurrencies and cryptocurrency and cash are called "cryptocurrency exchange business", and application to the country is required to conduct cryptocurrency exchange business based on April 1, 2017 revision of the law became. A list of registered traders can be checked from the website of the Financial Services Agency. ※cryptocurrency exchange agency registration list by Financial Services Agency Once registered for these services you can purchase cryptocurrency based on rates with other currencies.

Pay via Cryptocurrency

If you can get a wallet and cryptocurrency, you only pay the cryptocurrency afterwards. In order to pay the opponent cryptocurrency, you need to know the account number of the other party. Once you know the account number of the other party, remittance is completed by specifying the account number and the amount to be sent using the Send function of Wallet and paying.
This is the flow until purchasing cryptocurrency. If you already have wallet and cryptocurrency, you can make payment with only 3, so if you have a smartphone or a computer you can easily make a payment with cryptocurrency like electronic money.

Supplement

Maybe there are people who have seen paying by reading the QR code on a smartphone on a TV or the like. It converts the data that sums up the number of orders of cryptocurrency and the amount of money to be paid into the QR code so that the paying side simply reads the QR code at the product or cash register using the dedicated application and completes the remittance It is a mechanism to do.