Sunday, December 8, 2019

Sending Bitcoins from One Wallet To Another

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Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on [email protected]

Sending cryptocurrencies between wallets can either be a walk in the park or a tedious task depending on method employed by the sender. For example, a transaction can be completed in a jiffy by simply scanning a certain QR code. However, certain things determine how smooth the completion of a transaction could be; these include the type of wallet in use and the level of information the user has. To avoid complications during the transfer of Bitcoins, the following instructions should come in handy.

Read on!

Sending Bitcoin Via Email or SMS

Sending bitcoin via Short Message Service allows one to send Bitcoin even without the use of the Internet, however, sending through email requires internet connection. To access this method, one would need a mobile phone number or email. The next thing to do is to register your phone number to a service that supports sending Bitcoin through text messages and emails. Examples of such platforms are blockchain.com and Coinapult.

Below are the steps to follow to send Bitcoin via SMS.

  • Sign in to the suitable platform.
  • Create a profile and add your phone number or email to your profile page.
  • Click “Send Via” to select your desired means of transfering BTC: SMS or Email
  • Simply type the recipient’s phone number or email address and desired amount of BTC and click “Send Payment”
  • You can also send Bitcoin by following this command for SMS: “send” + recipient’s phone number + amount of bitcoins.

Note: The recipient’s phone number or email needs to be registered to the chosen platform before it can receive the transfered BTC.

Scan A QR Code To Send Bitcoin

This method of transferring Bitcoin is quite easy because it does not require the wallet address of the recipient to function.

Steps to Follow:

  • Go to HOME → MORE → SCAN QR CODE.
  • Scan the QR code of the recipient.
  • Enter the right amount to be sent.
  • Go through the details and ensure everything is in order.
  • Confirm the transaction.

Transfer Bitcoins Using A Software Wallet

The process involved in the use of software wallets in sending bitcoin may differ from one platform to the other, but the steps are generally the same.

  • Open the software wallet.
  • Click on the “Send” tab.
  • Input the address of the recipient’s wallet.
  • Select a label which will be used to track the Bitcoin transaction.
  • Input the amount to be transferred in the “BTC” box.
  • Go through the details for possible errors in the provided information.
  • Complete the transaction by clicking “Send”

Sending Bitcoins Using Paper Wallet

The use of paper wallet is quite different from the previously discussed methods, in the sense that it is not as straight forward as the former. Paper wallet requires the user to access the physical wallet first to transfer Bitcoins to the software wallet. Once this is done, then the transaction may proceed like any other software wallet transaction.

  • Scan the QR code found on the paper wallet, or simply type the unique series of numbers and letters into the software wallet.
  • Confirm the amount of funds in the paper wallet by checking your balance.
  • Then import or sweep your private key.

Note: What importing does is to load the bitcoins located in the paper wallet’s private key into the software wallet.

Sweeping, on the other hand, is similar to importing, only that it uses a new unique Bitcoin address to protect your Bitcoin.

  • Complete the Bitcoin transaction using the procedure for a software wallet.
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