Get started using Bitcoin

Get started using Bitcoin

How to Send Bitcoin

In this example, you receive your $19 change as a single banknote. To explain, since Bitcoin is a digital currency it doesn’t require physical denominations for people to carry around. As such, you receive your change back in one sum; in the form of a UTXO.

How to Send Bitcoin

Once you have the recipient’s address and funded your wallet, you can initiate the Bitcoin transaction. Double-check all details, especially the address and amount, before confirming the transaction. Bitcoin transactions are quite straightforward and not as daunting as they seem. We will guide you through the process using simple steps.

How Can You Send Bitcoin Step by Step?

We developed BitPay Send to pay our own employees in crypto. Since its development, hundreds of BitPay employees enjoy receiving partial pay, bonuses and matching benefits all in their preferred cryptocurrency. We have lots of affiliates who wanted to be paid in Bitcoin, especially those who are based outside North America and Europe where access to bank accounts is difficult. One of our biggest challenges is that we did not want to buy and hold crypto and having BitPay manage that risk was an important factor in choosing BitPay Send.

To send, click «Pay», select «Send» and enter the amount you would like to send. Then, input the crypto address, phone number or email address of the recipient. Select «Continue», choose «Preview» and finally, select between «Send on Coinbase» and «Send on the Blockchain». The cost to send Bitcoin depends on the size of the transaction and the network usage at the time. Of course, the price of Bitcoin also fluctuates, so the equivalent price you may pay for a Bitcoin transaction in dollars or euros can vary greatly. Of course, the process of sending BTC may vary depending on the type of Bitcoin wallet you are using.

How To Send Bitcoin in 3 Simple Steps

It’s easy to create a Bitcoin wallet, but there are many different types with various security. The final step is to send and receive bitcoin, so you learn how to use the cryptocurrency. We will help you all the way to avoid common beginner mistakes. It is worth noting, Coinbase holds your private keys, meaning you’re not in complete control over your cryptocurrency. With that being said, Coinbase is a widely trusted U.S. based company.

An exchange attack is a direct hack against a crypto platform. Most exchanges have strong security, but it’s still possible for a determined hacker to find a way in and make off with funds. A rug pull scam (or exit scam) is one in which the creator of a cryptocurrency, NFT, or some other digital asset first convinces others to buy into their product or service. So, before you click send, triple-check the address to make sure the crypto is going to the right person. Since addresses are a string of characters and numbers that can look like nonsense, it’s important to carefully proofread each character before initiating a transfer. In your crypto wallet, choose “send” and enter the address you want to send the Bitcoin.

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