Sending Bitcoin

Sending Bitcoin is easy, all we need is the recipients public address/key. It will look like this

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Or if you are with the person you are sending Bitcoin to you could scan their QR code instead, this QR code corresponds to the text version and makes sending even quicker as you don’t have to key in the long address

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All wallets will look different but they all work in the same way, most wallets will allow you to choose the amount you wish to send in fiat currency as well as being able to specify the amount in Bitcoin.

The wallet in this example is Coinomi from Google Play store (Android).

Bitcoin’s price can be very volatile, if your wallet doesn’t have the option to input an amount in fiat currency you should check the current price before you send funds!

You may receive a pop up saying it’s an ambiguous address, there are other coins that use the same blockchain. In this instance we want to select Bitcoin.

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Transaction fee

When sending a Bitcoin transaction there is a fee to pay, however you choose the fee. Most wallets by default will set this fee to ‘normal’ but you can usually change this in your wallet settings. Choosing to pay a higher fee will attract faster confirmation times.

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Learn more about Bitcoin fees

It should appear as an incoming transaction nearly instantly on the receiving device but you will need to wait for confirmations before it is spendable.

Anybody can view the status of a transaction if they know the public key, just input either the sending or receiving public key into a blockchain explorer such as blockchain.info

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Recipients may require a minimum number of confirmations before goods or services are released.

All Bitcoin transactions are visible to everybody. A blockchain explorer gives you access to this information. Bitcoin transactions don’t contain any personal data, just public keys of transactions.

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However, with increasing technology it is possible to link public keys to people. If you buy Bitcoin at an exchange and you register with the exchange, somebody investigating the blockchain could follow the coins back to the exchange who could reveal your identity. Care is needed to maintain privacy when using Bitcoin.

Bitcoin Wallets

Receiving Bitcoin

Buying Bitcoin

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