How to Pay Mining Fees with BTC

By March 19, 2019Uncategorized

Are you mining with one of the GH or TH mining products? If so, there are monthly fees to take care of electricity, internet, maintenance costs, etc. This step-by-step guide will walk you through paying for those fees in Bitcoin.

Purchasing BTC through Coinbase

Step 1: Log into Coinbase

If you do not have a Coinbase account, you can create one for free at coinbase.com.

Step 2: Click on the Buy/Sell Tab

Step 3: Verify Payment Method

If you haven’t verified a payment method through Coinbase, you will need to do that now. Click on the large blue button that says Verify Payment Method.

Step 4: Verify Test Transactions

Coinbase will post two test transactions to your credit card/bank account. It can take 30 minutes to 24 hours to see these transactions. If you don’t see the test transactions within 24 hours, you may need to contact your banking institution. They can provide the transactions that may not have been posted to your account.

Once you enter in the Coinbase transactions, click Verify Card.

Step 5: Purchase BTC

Once your credit card/bank account is verified, you can now purchase Bitcoin (BTC). Enter the amount you would like to purchase in USD value. Then click Buy Bitcoin Instantly.

NOTE: Coinbase will charge an additional fee along with the BTC amount. You can see the fee on the right-hand side of the screen with the order total.

Step 6: Confirm Your Purchase

To complete your purchase, you will be required to confirm it by clicking Confirm Buy. After a short processing period, you will be notified that the purchase was successful.

Deposit BTC to Mintage Mining Account

Follow these steps to send your purchased BTC to Mintage in order to pay your mining fees. It is simplest to have Coinbase open in one tab, and Mintage Mining open in a second tab.

Step 1: Log Into Your Mintage Mining Account

Step 2: Select Primary Wallet

You will find this in the left-hand sidebar by clicking on Wallet and then Primary Wallet in the drop down options.

Step 3: Initiate Deposit

On the Primary Wallet page, click Deposit.

Step 4: Select Bitcoin (BTC)

Step 5: Copy the Wallet Address Provided

This is the wallet address you will use to send BTC to your Mintage account. We encourage you to copy & paste, rather than enter it in manually. If you enter the wrong wallet address and it is valid, your BTC will be sent to the wrong wallet, with no way to get it back.

Step 6: Return to Your Coinbase Account

Step 7: Initiate Sending BTC

In Coinbase, click on the Accounts tab at the top of your screen. Locate the BTC Wallet box and click Send.

Step 8: Paste Mintage BTC Address

  • Paste the BTC wallet address you copied from Mintage into the Recipient box
  • Add the amount that you will be sending in USD value
  • Click Continue

PLEASE NOTE: The value of Bitcoin can fluctuate while your transaction is being confirmed on the Bitcoin blockchain. We suggest adding an additiona $2-$3 amount as a buffer.

Step 9: Confirm the Transaction

Coinbase will text a code to your phone. You will need to enter that code into the screen, then click Confirm. After you have confirmed the transaction you will see a message that your transaction is on its way to your Mintage Mining account.

NOTE: It will take a few minutes for the Bitcoin to reach your Mintage Mining account. Once it has been received, you will see an updated Available Balance in your Primary Wallet.

Pay Mining Fees with Deposited BTC

Follow these steps to pay your mining fees with the Bitcoin you have now deposited.

Step 1: Go to Your Coin Contracts

After logging into Mintage Mining, click the Activity tab on the left sidebar. Select Coin Contracts from the drop down options.

Step 2: Go to Manage Contracts

Scroll down until you see your purchase history. Click the Manage button for the contract you want to pay fees for.

Step 3: Initiate Paying Maintenance & Service Fees

Scroll down to the middle of your page. You will see a box labeled Maintenance & Service Fees. Click the Pay With BTC button.

Step 4: Pay Fees

The number of months is automatically set to 1 month. Click Pay Now. Your fee payment will deduct from your BTC wallet.

The due date for your next payment will update within 5 minutes.

Congratulations! You have now paid for another month of mining.

Contact Mintage Support should you need further assistance.