ZoneBitcoin EditorialBitcoin adoption around the world is still growing. There are more and more stores that accept bitcoin payments and naturally more and more people today pay in bitcoin as well.
Indeed, the trend towards saving in bitcoin is not contradictory with spending your bitcoins. The reason is that it is becoming ever more convenient and easier to pay with bitcoin.
In reality, bitcoin payments have been especially popularized with different practical payment methods such as paying with your smartphone by flashing QR-Code or even using contactless NFC cards. So, when bitcoin payments took over these methods, we can say that the adoption of Bitcoin was greatly facilitated.
With this in mind, entrepreneurs are competing with ideas to make payment ever simpler, faster and accessible to everyone. This is precisely what the Bitcoin company offers Bolt Ring which has just released a ring that allows you to pay in bitcoin.
Original? Yes and so practical if you don't want to go out with a wallet or carry your smartphone. Let's see in this article what you need to know about this revolutionary ring for paying in bitcoin.
Introducing the BoltRing bitcoin ring
The BoltRing is made of ceramic, resistant to water, dust and also scratches. It is with a deliberately minimalist design that the ring for paying in bitcoin is presented. On the outside of the ring, there is no visible logo. On the other hand, inside the ring, you can see the bitcoin logo which is engraved. So, if you want to remain discreet, this ring can go unnoticed if you don't want to reveal that you own bitcoins.
If you want to be able to pay as simply as with a contactless card and do it directly from your hand, the bitcoin ring may be a good option for you. Indeed, if the ring is worn, it is difficult to forget it at home for example and it remains a very discreet means of payment.
If you are asking what happens if the ring is lost or stolen, you should know that the ring does not contain your bitcoins. It's a ring that is connected to a Lightning wallet. You can deactivate the link at any time if you lose your BoltRing.
The strong points :
- Discreet and aesthetic ring with three different sizes to fit all fingers.
- Possibility of paying with it in any stores that accept bitcoin.
- Extremely fast payment.
The weak spots :
- Even though the list is growing every day, there are still few merchants that accept bitcoin payment. This means that depending on the region where you live, you may be limited in the use of your bitcoin ring (for the moment anyway).
- The price of $85 may be considered high for some budgets. This is relative.
- It is not a physical wallet. It is an ideal ring for daily payments. It's not about keeping large amounts of bitcoin on the ring.
How to pay with the bitcoin ring?
The BoltRing bitcoin ring works with NFC (Near-Field Communication) technology which is used in many products such as keys or contactless payments. NFC devices come in many varieties and contain an NFC chip that can communicate with different devices that are nearby.
Thus, the BoltRing ring allows you to pay directly in bitcoin without having to take out your phone, open your bitcoin wallet or flash the QR-Code to make the payment. With the ring, the payment is immediately detected and the payment is confirmed.
It is the fastest method available today to make a payment, relatively similar to a bitcoin payment card.
How does the BoltRing work?
The ring is a classic NFC device that leverages the Lightning Network and LNURL, which can read bills. The user can then validate their payment which is displayed on an invoice.
The ring is configured to generate unique and encrypted LNURL type withdrawal links. This is how the merchant can ultimately receive payment.
Therefore, you must first have a wallet compatible with the Lightning network which is operational with the BoltRing namely:
- Le CoinCorner wallet which is recommended for simpler use.
- LNbits Wallet with extensions boltcards (open source)
This is how you can top up your wallet with bitcoin and be able to make payments easily.
Where can I pay with the ring?
To find out where you can pay, you can use cards like Btcmaps to find merchants who accept bitcoin or the Oshi app. Also check that the merchant accepts contactless Lightning payment if you want to pay by card.
On the stores listed, you can see accepted payments such as bitcoin, Lightning or contactless Lightning which is required to pay with the BoltRing.
Final word
We can welcome BoltRing's initiative which makes Lightning and LNURL payments ever more practical. The bitcoin ring continues to expand partnerships with payment terminals such as BTCPay Server, Breeze POS, BTCPay, the Wallet of satoshi POS and LNBITS TPos.
Other partnerships are currently being developed to be able to pay with the bitcoin ring in ever more places.
What is certain is that the adoption of bitcoin is well underway ⚡!
If you are interested in forms of payment of this type, you can also consult our article on the satscard which allows you to transfer bitcoin without having an internet connection.
See also:
- With Oshi, discover Bitcoin merchants near you and earn satoshis!⚡
- Fountain: Earn satoshis by listening to podcasts!
- The Complete Guide to understanding the Lightning Network and knowing how to use it ⚡
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Note: This is not a sponsored post. This is not investment advice either. Always do your own research.
