How Do I Send Bitcoin to Someone Else?

Transfer Money to Another Bitcoin Wallet
By 
Coin Cloud Team
, published on 
November 23, 2021
How Do I Send Bitcoin to Someone Else?

You know what’s easy? Breathing. You know what else is easy? Sending Bitcoin. No, seriously! When it comes to Bitcoin, things can often seem more complicated than they are because everything is digital and the tech behind crypto can come off as intimidating. I mean, it’s based on cryptography, so by definition it’s cryptic.

And so, the all-too-common question arises: “How do I send Bitcoin to someone else?” 

Have no fear because we got all your answers here! 

In this article, we’ll cover the easy process of sending Bitcoin. If you need to know how to receive Bitcoin, then you’re in luck because we’ve also answered that burning question in this post on adding Bitcoin to your wallet. These posts go together like mac and cheese, so be sure to read both to satisfy your Bitcoin transacting appetite. 

Unlike paying in cash, Bitcoin transactions don’t happen instantaneously. Since it’s all digital and highly secure, there’s a process happening behind the scenes. But it won’t impact the ease of sending Bitcoin for you. By the time you’re done reading this, you’ll be one step closer to making your first Bitcoin transaction without worry. 

But First, Why Send Bitcoin? 

There are a few reasons why you’d need or want to send Bitcoin to someone else. 

The most common reasons are:

  • To use Bitcoin as a payment method to buy something (at participating retailers) 
  • To donate money to a charity that accepts crypto 
  • To send money to family members around the world (Bitcoin is borderless, so it’s great for international transfers) 
  • To move Bitcoin from one wallet to another (much like you may move money from a savings account to a checking account or from one bank to another) 
  • To cash out (a.k.a. sell your Bitcoin and get cash from a Bitcoin ATM, or even better, a DCM)

How to Send Bitcoin 

Now, for the reason we are all gathered here, let’s check out how simple it is to send Bitcoin. 

We’ll also cover some key things you should know before you initiate your first transaction. 

  1. Log into your Bitcoin wallet app or account (this is where your encrypted keys are stored so you can make any transaction on Bitcoin’s blockchain network)
  2. Choose the icon to “Send Bitcoin”
  3. Enter the public wallet address of your recipient or scan their QR code, along with the amount you want to send (note: keep in mind that there are transaction fees, so depending on the amount you want the recipient to receive, you’ll have to factor that in)
  4. Click send

Voila, you did it! 

Be sure to triple check the public address before you hit send. The public address (also called a public key) is a cryptographic code. This code helps to make sure that the transaction is secure and lands in the right person’s wallet. It works the same way that you would double check a mailing address before you send a letter or ship a package. Or an email address before you send a message (you do triple check who you’re sending emails to, right? So it only goes to the intended recipient?) 

The public address looks like a string of characters. It usually starts with a 1, 3, or bc1. Instead of having to type in a long list of random characters, you can also use a unique QR code to send bitcoin. 

The recipient can provide a public address through his/her Bitcoin wallet by going to the accounts tab and clicking on “Receive”. You can get a new public address for every Bitcoin transaction if you want to (and a lot of people recommend you do just that). 

While you share your public address to receive bitcoin, you always want to keep your private key… well, private. The private key is needed to access your funds or import your wallet to a new device or platform. And, the public key is generated through an algorithm that uses the private key. So, they work together, just like a door lock and key. While anyone can use a doorknob to enter and leave, only you have the keys to get inside. 

Just like you’ll be locked out of your house without your house key, you will be locked out of your wallet without your private key. If you get locked out of your wallet, you won’t be able to transfer, spend, or withdraw your crypto coins. Womp womp. Don’t be one of those people who loses your stash of coins.

If you’re unsure of what wallet is best to use, we’ve got you covered. Review these guides on the different types of wallets you can use (for iPhone users and for Android users)

Tips for Sending Bitcoin 

Alright, so now you know how to send Bitcoin. But, before you get to clicking “Send,” take a second to read these recommendations. 

They could make all the difference in getting your Bitcoin into the right hands. 

  1. Test, test (is this thing on?): Start by sending a little bit of crypto first to test it out before you send a huge amount of money (hey, Elon Musk, we’re looking at you).
  2. Patience is a virtue: A transaction with Bitcoin isn’t instantaneous, and can take anywhere up to an hour to process. The average Bitcoin processing time is typically between 10 to 20 minutes (that’s how long it takes to write a block on the blockchain), which is a lot faster than a bank wire transfer, for example.
    1. Pro tip: If you want to get cash for your Bitcoin, you can use a Coin Cloud DCM.
    2. Expert tip: Instead of having to wait around at the machine for the process to finalize, you can initiate it from wherever you are on your Coin Cloud mobile app. Then, when the transaction has been processed, swoop by the DCM, grab your cash, and be on your way (with some fresh bills in hand). Hey time, we saved you. 
    3. Extra tip: There are Bitcoin ATMs out there that are not DCMs. The majority of Bitcoin ATMs only let you buy Bitcoin (not sell it to cash out). That’s one of the things that makes a DCM extra special.
  3. Use a wallet: While it’s possible to store cryptocurrencies on exchanges, it’s less secure than having a wallet. With an exchange, you’re not in complete control of your private keys. With a wallet like Coin Cloud’s non-custodial wallet app, you and ONLY YOU have access to your private keys.

Clicked, Sent, Delivered 

Sending Bitcoin can be as easy as 1, 2, 3. 

Just make sure that you have the right public address before you do it. When it comes to accessing your own crypto and/or moving your wallet to a new device or cold storage, you’ll need your private key. So, be sure to guard that like you guard the last bite of your favorite meal. 

Now, you have all you need to start sending Bitcoin. Make like Star Trek… go forth and prosper. 

Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.

What is Coin Cloud?

Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.

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