Frequently Asked Questions

About Bitcoin

Bitcoin is Real and is Valuable!

Think of bitcoin like a digital asset with a financial value.

You may hold $10 worth of this asset, $100 worth or $100,000 worth. Bitcoin is also very divisible -- in other words you may also be able to hold $0.0001 worth of bitcoin. iPayYou is your perfect wallet to hold all your bitcoins.

Works worldwide

Bitcoin is used worldwide. 1 bitcoin in the United States is valued the same as 1 bitcoin in Italy, 1 bitcoin in China, or 1 bitcoin in Kenya. Thus, you can make payments with bitcoin to anyone in the world - instantly. Because bitcoin is a world-wide standard, you may make payments to anyone with a bitcoin wallet if they don't use iPayYou. If you use iPayYou, you may pay anyone in the world who has an email address -- we will do the hard work of creating a bitcoin account for them automatically.

May be bought and sold

You may easily purchase and sell bitcoin -- right here on iPayYou. If you make a payment to someone, they can withdraw that amount to a bank account by selling the bitcoin you just sent them.

Value fluctuates

Bitcoin is traded on bitcoin exchanges in similar ways to the way stocks are traded on stock exchanges. As a result, the value of bitcoin fluctuates -- it may go up or down in part based on how many people find bitcoin valuable. Because you are holding bitcoins in your iPayYou account, the USD value of your account may also change up or down.

You may take a look at historical prices on various exchanges over the last couple of years.

Similar to gold and currencies

In some ways, bitcoin is similar to gold: there is a limited amount of bitcoin in circulation and additional bitcoins may not be printed by any government.

In other ways, bitcoin is similar to a currency: you may send it to anyone else with a bitcoin account. iPayYou makes payments simple by letting you send bitcoin to anyone with an email address.

Learn more about bitcoin

To learn more about bitcoin, visit the Bitcoin section on Wikipedia.

For news, discussion, and quite a bit of other useful information on bitcoin, visit our friends at

Ready to start with bitcoin? Buy bitcoin here!

A Bitcoin address is a unique identifier which allows you to receive Bitcoins. With PayPal you send funds to an email address, and similarly with Bitcoin you send funds to a Bitcoin address. For example, this is one of our Bitcoin addresses: 1JArS6jzE3AJ9sZ3aFij1BmTcpFGgN86hA

Your Bitcoin address can be found here in your iPayYou wallet at the top right of the page as soon as you login.

Please verify that you have copied the destination address exactly before sending Bitcoins to it. Bitcoin transactions are not reversible!

iPayYou charges a small transaction fee to send money. This fee covers the bitcoin network transaction costs.

iPayYou Features:

The iPayYou wallet is designed to be the easiest Bitcoin wallet to use. With our wallet you can:

  • Buy/sell bitcoin
  • Send/receive payments from anyone using email/text
  • Cancel transactions
  • Coming Soon - Lock the price of your transaction

  1. Click on the Buy/Add funds button on the left
  2. Click on the buy Bitcoin button
  3. Complete level 1 and Level 2 verification

  4. Click on add new bank account

  5. Select your bank and input the required login information

  6. Enter $ amount that you wish to purchase and continue

  7. Complete purchase of the 2-factor authentication

Unfortunately these are the only banks that are supported at this time. We are continually adding banks to the list so be sure to check back. If your bank is not supported you can still use our wallet for all Bitcoin related transactions by transferring Bitcoin into our wallet from another source.

  1. Click on sell/withdraw on the left
  2. Click on add bank account
  3. Complete level 1 verification

  4. Select bank and input required login information

  5. Enter the amount you wish to withdraw and continue

For US based customers only. Some reasons identity verification may not be successful include:

  • Recently receiving a new Social Security Number
  • Recently moving locations
  • Recently changing your name
  • Not having a Social Security Number
If after several attempts you are unable to verify your identity it may be necessary for you to contact the three major credit agencies (Transunion, Equifax and Experian) to make sure that they have accurate information for you on file.

  1. Click send payment from the menu on the left
  2. Click create new payee

  3. Enter payee email or Bitcoin address
  4. Click continue
  5. Enter amount you wish to send and any comments
  6. Click Continue
  7. Confirm transaction

It will take about 3-4 business days for the bitcoin to be deposited into your account.

It will take 2-3 business days for the money to be deposited into your bank account. The expected transaction completion date is shown in the wallet.

  1. Click on buy/add funds on the left
  2. Click on Receive Bitcoin
  3. Scan the QR code or enter the Bitcoin address shown into the Bitcoin application that you are currently using
  4. Enter the amount you wish to receive

Only transactions sent to recipients by email or Twitter handle may be cancelled and ONLY if the recipient has not logged into our system or otherwise spent any amount of bitcoin from your transaction to them. If you send bitcoin to a bitcoin address directly, it may not be cancelled at all.

To cancel transaction click on the cancel transaction button in the transaction history

Enter your iPayyou password and confirm your cancellation.

Privacy and Security

To reset your password please click on the forgot password link on the logon screen and follow instructions.

Support Inquiries

Email us at You may contact us here.