Send / Receive Bitcoin

or others crypto-currencies

 


 

Considering that before starting this article, you already benefit from your wallet of cryptocurrency called "WALLET" if it is not the case, go to the previous article, here

Recall that transactions are done without banks (this is why they do not like crypto), they (transactions) use blockchain technology, its speed of execution will depend on the overall use of network, the sending and receiving platform. Transactions where the sender and receiver use the same platform are instantaneous. They take a maximum of a few hours, can follow the status of the transaction on blockchain.com (demonstration at the end of this article)

The blockchain and a decentralized system called "peer to peer", each transaction must be validated by the entire bitcoin network (as far as bitcoin is concerned)

 

RECEIVE BITCOIN

 

You are with the sender, you can use your QR code usually available using your smartphone.

This will scan it jute after indicating the amount in bitcoin he wants to send you.

Demonstration with the app

coinbase

 

From a distance, you will send the address of your wallet to the sender. For bitcoin, it is a combination of lowercase, uppercase letters as well as numbers. Example below:

 

3BTYsgqiKJdw8rReucWcsZQMb28hDJxKWn

 

Wallet addresses and other crypto-currencies are not so different. Be careful never to confuse them. In the same portfolio, you will have as many addresses as crypto-currencies

For your security, the address of your wallet is likely to change automatically, so take care to send the one generated daily by your wallet.

If you send an old address, do not panic, it remains valid for a few months following the wallet hosting platforms, stay vigilant anyway!

You can also change it for yourself, for the sake of anonymity. Indeed, it is possible to list all the transactions received on a bitcoin address, for example on blockchain.com

(Demonstration at the end of the article)

 

SEND BITCOIN

 

The principle is the same on all WALLET

-Enter the amount to send,

-Enter the recipient's wallet address or scan the QR code if you have with the recipient

(I recommend you check the first 3, and the last 3 characters of the address, because once sent, the transaction is irreversible, the sender remains the only responsible in case of wrong address)

 

3BTYsgqiKJdw8rReucWcsZQMb28hDJxKWn

 

Follow a transaction on blockchain.com

Wright the Wallet adress on the red circle, exemple :

 

 

3BTYsgqiKJdw8rReucWcsZQMb28hDJxKWn

 

 

 

 

 

 

-In circle 1, a summary of past transactions

-In circle 2, transactions in progress

 

Understand here the importance of changing your address regularly, as its informations are publics.

Thank you for reading this article, hoping it will help you better understand how cryptocurrency trading works. We remain available for any questions or informations.

 

Sina

 

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