Learning how to send bitcoin may seem like a daunting task, but it isn’t. In fact, it could be compared to the simplicity of sending money via PayPal or Venmo, simply with some slightly different steps.
In this article, we will evidence you how to send bitcoin between two addresses, using a Coinbase account as an case.
Sending and receiving bitcoin or crypto assets may look a little dissimilar, depending on which service and crypto wallet y’all choose, but the steps will be similar to this guide.
Step 1: Log in to your Coinbase account. Click the “Pay” link on the left.
Step 2: Switch to the “Receive” tab and choose bitcoin from the list of Assets.
Your wallet will receive automatically. All you demand to do is give the sender your address or QR lawmaking. (This accost is condom to share with anyone, as they tin but send money to it.)
Make sure that the sender gets your address correct when sending it, as an incorrect address may hateful that not only will you not receive your bitcoin, just information technology may exist lost forever if it goes to the incorrect wallet.
Sending digital currency to some other wallet is not then dissimilar from sending a payment via PayPal.
To send bitcoin:
Step one: Log in to your Coinbase business relationship. Click the “Pay” link on the left.
Stride two: Switch to the “Send” tab and choose bitcoin from the listing of Assets.
Step three: Select “Wallet Address” and enter the recipient’due south wallet address in the recipient box. Typically, wallet addresses are piece of cake to re-create and paste, or scan using QR codes. Select the Coinbase wallet you wish to send from, and then input how much you wish to ship in USD or in BTC, adding a note if you wish.
Pay attention to the network fee as this cost volition exist deducted from the full you transport, and so be sure to top up the value of the send appropriately. (Notation that Coinbase waives network fees sent between Coinbase users, so you tin save fees by getting the other party to create a Coinbase account.)
Step 4: Hit “Continue” and you will see a confirmation screen. Enter the verification code that is sent to you lot via your ii-stride verification method. Striking “Confirm” when you are ready to send the digital currency.
Once confirmed, your bitcoin is sent. This procedure typically takes no more than 10 minutes, but during busy periods on the bitcoin network it can take up to an hour or and then.
Sending Bitcoin to an Email Accost
If you do not want to ship bitcoin directly to a wallet address, you have the choice of sending it to an e-mail address. Here are the steps to do and then:
Stride 1: Log in to your Coinbase account. Click the “Pay” link on the left.
Step 2: Switch to the “Ship” tab and choose bitcoin from the list of Assets.
Step iii: Select “Email Address” enter the recipient’s e-mail accost. Select the wallet you lot wish to send bitcoin from, and how much you wish to send in USD or in BTC. The note is optional.
Footstep four: Hit “Continue” and you will come across a confirmation page. Enter the verification code that was sent to you via your two-step verification method. Hitting “Ostend” if you are ready to send the bitcoin.
The recipient will receive an invitation via email to log into the Coinbase organisation and enter his or her wallet address. One time the recipient enters a receiving wallet accost, the bitcoin will be transferred.
Sending Bitcoin Without Fees
Transferring bitcoin betwixt users is not free,
unless both users accept a Coinbase account. This is considering Coinbase has large reserves of bitcoin that it tin can direct transfer between users. The easy manner to salve on fees, then, is for both of you to open a Coinbase account.
Otherwise, fes are paid to miners for confirming the transaction and keeping the blockchain secure. There are resources available to help you calculate the fee, only note this figure is constantly irresolute.
For web-based and software-based wallets, there may be an additional fee from the wallet provider. This is not always like shooting fish in a barrel to see, so pay close attending. (See our guide on Avoiding Crypto Fees for more tips.)
Sending bitcoin is equally simple every bit picking the amount to send, and then deciding where it goes. Likewise, receiving bitcoin is just as uncomplicated. Think, you can ever practice sending and receiving small transactions between wallets, and it’s free with the Coinbase account of family members or friends. Yous will feel more confident in no time.
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