Once you opened your first wallet and gone through the process of securing your account to make sure that your coins will be safely stored, it is time to learn how to receive and send coins.
If you didn’t open a wallet yet, here is the simplified guide with steps to open your first cryptocurrency wallet.
How to receive coins?
Receiving coins is very easy.
The person that is sending coins to you should know your wallet address.
Your only task here is to send your wallet address to the person that is sending coins to you.
To do that, go to Dashboard.
Click on Request.
This should appear once you click Request:
What you should do is to copy the marked address and send to the person that is sending coins to you.
Once the person sends you coins, in a couple of minutes or even faster you should see coins in your wallet.
How to send coins?
Once you learned how to receive coins, it is time to learn how to send your coins to others.
The first thing you need is the wallet address you are sending to.
The person you are sending to has to send you its wallet address.
Once you get the wallet address, the next thing you should do is to go to the Dashboard and click Send.
The photo like the one below has to appear on your screen:
Firstly, chose the currency you are sending.
If that is Bitcoin, make sure you marked Bitcoin.
However, if you are sending Ethereum, you need to choose Ethereum.
If you send Bitcoin to an address that is not Bitcoin’s address, your coins will be lost forever.
So, make sure to check this before sending your coins.
In the second field paste the wallet address that you got from the person, you are sending coins too.
In the third field enter a number of coins you are sending.
On the right, you can see the $ value of the coins.
Double check because if you send more, the transactions is irreversible.
In the fourth field, keep it regular and do not change it.
Once you fill the form, click Continue.
Then you should get an e-mail to confirm the transaction.
Double check if you entered the right data and if everything is correct, confirm the transaction.
Once you click confirm, the person you are sending to is going to receive coins within minutes.
In some situations, it can even take a few hours if the system is overloaded.
If this happens to you, do not panic.
If sent correctly, coins will arrive at their destination sooner or later.
Milos is an independent trader, with a background in journalism and publishing. Nomadic by nature, he’s lived in four different countries this decade. He’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives. Milos got into Bitcoin while completing his degree and hasn’t looked back since, writing about anything crypto-related. He is the co-founder of the Cryptoaims and he has a strong passion to educate people about this revolutionary technology.