How to Send Crypto From Wallet to Wallet

Neither this post, nor any other on cryptofal.com should be taken as financial advice. It is not.

Cryptocurrencies can be sent anywhere on earth, quickly and efficiently. Cryptocurrencies use blockchain technology, or a transparent digital ledger, to help facilitate these transactions.

The tokens are held in cryptocurrency wallets. These wallets are identified by their wallet address. Wallet addresses are required to send cryptocurrency from one wallet to another. Think of these addresses as identifiers of different wallets for that specific token/network. Each blockchain is its own compartmentalized network. This means that Bitcoin wallets can only send BTC to and receive BTC from other Bitcoin wallets.

So, how do you send from wallet to wallet?

First you have to determine whether you want to send or receive cryptocurrency. If you want to receive cryptocurrency, it’s a fairly simple process. All you need is your wallet address for that specific token. If you want to receive BTC, you copy and paste your BTC address and forward it to your sender. From there, they’ll be able to send it to you.

To send a cryptocurrency like BTC, you need the recipient’s BTC address. You should have them copy and paste it exactly as it reads when they send it to you. From there, you can copy and paste the recipient’s address into the “recipient address” section of your BTC wallet’s send function. You should be provided with a little check mark where you paste the recipient’s wallet address on most wallets if that address is a valid BTC address.

From there, your wallet will tell you what the fee may be for sending it (some wallets have their own withdrawral fees on top of the network transaction fees). Then, you can click confirm or send to send your BTC. For Bitcoin, your recipient should receive it in about 10 minutes to an hour or so. Other cryptocurrencies may send more quickly or have different types of fee structures.

Some cryptocurrencies also require a second code, or memo (like XLM), that must also be copied and pasted into its own designated section along with the wallet address. It’s important to check the requirements for each cryptocurrency before sending it so you know that specific project’s requisites for a successful transaction. With that being said, most cryptocurrencies are fairly simple and efficient to send.