Blockonomics Aims To Simplify Bitcoin Payments And Fund Management
If you’ve stumbled upon this article, chances are that you have an interest in Blockonomics and are eager to delve deeper into what the platform has to offer including what kind of services are being provided and how users can efficiently manage their Bitcoin and receive payments in BTC through the site.
What is Blockonomics?
It is firstly important to understand what Blockonomics actually is. It may best be defined as a truly decentralized crypto payment system which enables users to receive deposits into their personal cryptocurrency wallets. Blockonomics presently supports Bitcoin as well as other major cryptocurrencies and charges a low transaction fee of 1% with the first 20 transactions being completely free. There is no involvement by any intermediaries or middlemen, no lengthy KYC procedures, and the users are in total control of their funds.
One of Blockonomics' key features is its ability to accept payments in different cryptocurrencies, which means that users can accept Bitcoin and Bitcoin Cash as payment. Blockonomics also allows for the integration of various wallets and platforms, making it user-friendly for both merchants and customers. Last but not least, Blockonomics also relies on sophisticated security measures to safeguard users and protect their funds at all times.
How to effectively use Blockonomics?
To begin, let's look at how Blockonomics can be used to track Bitcoin. Upon visiting the homepage, users will notice an intuitive interface with a search bar designed specifically for looking up Bitcoin addresses or wallets. This feature allows users to not only monitor their own addresses but also explore other addresses or transaction IDs to gain insights into a specific wallet's Bitcoin balance or the details of a particular transaction. Blockonomics also enables users to access and analyze relevant information, whether they want to plug in their own addresses, someone else's addresses, or search for associated addresses.
For example, suppose a user enters his address into the search bar and discovers that he has a small amount of Bitcoin in his wallet. We can then also see an "unconfirmed amount," which represents Bitcoin that has been sent to the wallet but has not yet received the required confirmations. By selecting the appropriate option, it becomes possible to view the transactions associated with the wallet, providing a complete history of its activities.
Furthermore, selecting a specific transaction reveals detailed information such as associated fees, input and output wallets, and the transaction date. This detailed overview ensures transparency and helps users gain a thorough understanding of their Bitcoin-related operations.
What else does Blockonomics provide?
Users can utilize the “Wallet Watcher” feature to keep track of their Bitcoin through Blockonomics. By creating an account on the platform, configuring your API key, and using the Wallet Watcher, you gain access to a dashboard that displays all of the Bitcoin available in your addresses, as well as the current USD conversion rate. The application also includes an address watcher that allows users to monitor specific addresses, a transaction history that displays their account balances and pending transactions, and a simple way to receive Bitcoin by clicking a single button.
In addition, the Wallet Watcher provides information on transaction fee scores. A lower score indicates that a higher Bitcoin fee may be required during times of network congestion, whereas a higher score indicates that excessive transaction fees may be avoided while still enjoying fast network confirmations. Users can also customize their currency preferences, change their Blockonomics account password and email address, and even export their transaction data to Excel for easy record-keeping in the Settings section.
These tracking features allow users to effectively supervise their Bitcoin holdings, simplify financial planning, and meet a variety of tax-related requirements.
What about receiving payments in Bitcoin?
Now, let's look at the various options Blockonomics provides for receiving Bitcoin payments. To begin, there is the Bitcoin invoice, which works similarly to looking up a wallet address. Users can navigate to the "Create a Peer-to-Peer invoice" option by entering their wallet details into the search box. This feature allows them to enter a description, select a file, enter a value, and generate a unique Bitcoin address for receiving payments. Moreover, to ensure timely processing, the invoice includes an expiry option. Simply send the generated invoice link to the intended recipient, and they can pay conveniently using the provided address.
Finally, Blockonomics' merchant plugins and payment buttons provide an important avenue for earning Bitcoin through the platform. Users can access an extensive list of integrations via the website's "Merchants" tab, which includes popular platforms such as WordPress, OpenCart, and Joomla, among others. These plugins integrate seamlessly with a variety of e-commerce websites, allowing for simple Bitcoin payment processing.
The Blockonomics YouTube channel contains instructional videos that guide users through the quick and simple installation process. For more information and regular updates, be sure to check out the official website as well as the Twitter channel.
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