How To Use Bitcoin To Send Money
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It will generally be very similar to sending money through an online checking account.
How to use bitcoin to send money. Remember to use a strong password to ensure you bitcoins are safe. Open your software wallet and click on the send tab or use the trade send bitcoin option under your wallet s menu. Your recipient sells the bitcoin for fiat currency on a bitcoin platform. All you need to do is get their bitcoin address and you can transfer bitcoins from your wallet to theirs. If you want to accept any number of bitcoins to go back to the request payment tab and create a new payment request but leave the amount portion blank.
Here s the basic process for transferring money through bitcoin. Buy bitcoin and send it to your recipient. Deposit your fiat currency government issued currency like dollars euros and yen onto a bitcoin platform. To send funds from your wallet you need the recipient s receive address or qr code. To request you can share your address or qr code with the sender.
After buying bitcoin the amount will be reflected in your bitcoin wallet. You can choose between mobile wallets such as luno or use an online bitcoin wallet such as the one provided by blockchain info. Anyone who scans this qr code can now send money to your bitcoin core wallet. Insert your cash into the bitcoin atm. Type in the destination address for your intended recipient s wallet.
By default it will tell them to send 0 015 bitcoin. Then you can send bitcoins to other bitcoin addresses through your wallet. Make sure you do not leave the kiosk at this point until the transaction is complete. Buy bitcoins with coinjar first set up a coinjar account then complete a cash deposit. A use case for this can be paying back a friend who bought you dinner returning a loan or even settling a bet.
Another way to use bitcoin is by sending money to your friends or family. Click request payment and the qr code will be generated. Your bitcoin and bitcoin cash address will change each time you request but your ether address will stay the same.
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