Method to send and receive bitcoins through wallets

Methods to send and receive bitcoins:

 

Send and Receive Bitcoins is quite easy to do. It is as simple as sending email to each other. It’s not a difficult step to do. The following are the two processes explained in detail:

 

Sending of Bitcoin:

 

In this bitcoin guide, we will tell you about sending bitcoin. If you want to send money in any other person’s Bitcoin, then you must have your own bitcoin wallet. If you don’t have bitcoins then you can buy bitcoins. There must be some coins stored in that wallet. There are some apps available for mobile users regarding cold and hot wallets of bitcoin. That app can be used on your phone, desktop or the cloud containing not only your bitcoin public address but also a private key that will enable you to authorize any expenditure.

 

It is obvious that your recipient must have bitcoin wallet and bitcoin address. Because when you are going to send bitcoins then you will require bitcoin address to send coins. The bitcoin address will looks something like this: 1JEiV9CiKshfYhE7MzeSdmH82xRYsdYrlj. This kind of address can be converted in QR codes. This facility is already available with many bitcoin wallets.

 

In your bitcoin wallet, you can see a send option. Select the send option, and you will be prompted to enter the recipient’s public address in a ‘’To’’ field. Ideally, there are four ways to do it:

  • If you have address in address book then select address
  • Copy and pasting an address from your clipboard
  • Simply type a bitcoin address manually (which is not easy given its length)
  • Scanning QR code of address using a device’s camera (mobile phone)

 

After successful insertion of an address, check it again to make sure it matches your intended address. It is irreversible, if sent on wrong address. After hitting ‘send’ the receiver will get a payment notification in minutes. After about 20 minutes, your transaction will have been confirmed several times on the bitcoin network and, therefore, successful.

 

Receiving bitcoins:

 

It is similar process just like sending bitcoins. As it is mentioned above, you need to have a bitcoin wallet. You can choose cold and hot wallets. You can also use Bitcoin Paper wallet. In your bitcoin wallet, you can make multiple Bitcoin public addresses that you can share in public to receive Bitcoin.

 

Our recommendation is to use different Bitcoin public address to receive bitcoins. You can create as much addresses as you want. So no need to worry about addresses. Since all your bitcoin addresses are associated with your bitcoin wallet, you do not need to worry about keeping track of them.

 

In order to receive bitcoins, you have to share the public address of your bitcoin with a sender. There are two ways you can do this:

  • Copy your address onto a clipboard and send to the person sending you bitcoins.
  • Send him your QR code that you can find within your wallet.

 

It is as easy as one two and three. This is Bitcoin technology that may sound intimidating, sending and receiving money around the world. All the things that you need to do is, practice once or twice and there you go.

 

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