Digital Currency Machines (DCMs) are revolutionary additions to the world of digital currency, and an evolution of the old-school Bitcoin ATM. DCMs allow a convenient, secure, and fast way to exchange cryptocurrency for cash and visa-versa.
We’ve already talked about how to sell your Bitcoin from the Coin Cloud Wallet app when you want to cash it out. But what if you just want to send it to somebody else?
Maybe you’ve used one of Coin Cloud’s DCMs to purchase some Bitcoin and now you want to send it to your cousin as a graduation gift or to your dad as a Father’s Day present. Maybe you’ve never used one of our machines and you're just taking advantage of our equally convenient, secure, and fast wallet application. Either way, you’ve come to the right place.
The first step, of course, is opening the Coin Cloud Wallet app. Assuming you have your wallet already set up, you will look to the bottom of your screen for the icon shaped like a wallet.
Tap on this icon to see your wallets and the amount of digital currency in each one. Select the wallet you want to send Bitcoin from by tapping it.
After tapping on your desired wallet you should see a new screen showing how much BTC you have, and what it’s worth in fiat. Underneath this are the options to “Receive” or “Send” Bitcoin. Just below those buttons, you will see a history of your transactions with this wallet.
Tap the “Send” button to continue.
After pressing the “Send” button, you will be prompted to enter the wallet address that you want to send your BTC to. You can either paste the wallet address into the provided bar, or tap the QR code icon and scan the QR code of the receiver’s wallet.
Once you’ve entered the recipient’s Bitcoin address, you will be provided a keypad to enter the amount of BTC you want to send. You also have the option to “Send Max,” which will automatically calculate the maximum amount of Bitcoin you can send while taking any fees into account.
When you’ve got your desired amount of Bitcoin showing, tap “Continue”.
Next you’ll see a screen with a summary of your transaction. It will tell you the address of the wallet you are sending BTC to, the miner fees for sending it, what wallet you are sending from, and the total amount that will be sent.
If you tap on “Miner Fee'' you also have the option to select your transaction speed. The faster you want your transaction to be confirmed, the higher the miner fees will be. You even have the option to enter a custom speed, and therefore a custom miner fee.
Once you’ve selected everything you desire with miner fees, all you have to do is slide your finger along the “Slide to Send” button on the bottom of the screen.
Your transaction will then be sent to the blockchain and begin the confirmation process. When your transaction is finalized, you’ll receive a text message, and you’re all set!
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.
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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