5 Secure Ways of Sending Bitcoin
Bitcoin is the most valuable cryptocurrency, and that’s highly unlikely to change anytime soon. Over recent years Bitcoin has established itself as a powerful entity within the mainstream because of its decentralized nature, security features, and growth potential. As its popularity continues to soar, more people are looking for secure ways of sending Bitcoin.
Crypto exchanges are online marketplaces for buying, selling, and trading cryptocurrencies, including Bitcoin. Most exchanges include Bitcoin in their catalog, but some of them exclusively facilitate Bitcoin transactions. To send Bitcoin from an exchange, all you need to do is the following:
- Create or access your exchange account.
- Click on the “Send” or “Transfer” option within the interface.
- Enter the recipient’s Bitcoin address carefully. Copying and pasting or scanning QR codes is the best method.
- Input the amount of Bitcoin to send but check for minimum and maximum transaction limits.
- Check all details are correct and hit confirm.
Bitcoin Credit Stick
Bitcoin is stored on a blockchain and has zero physical form, which makes it so secure. However, revolutionary technology like Opendime allows for a physical bitcoin. These credit sticks are single-use USB sticks that are loaded with Bitcoin by one person and unloaded by another. If you’re sending Bitcoin to someone you know who lives locally, this is a fantastic option.
A Bitcoin wallet is a software or physical device used to store your private keys, which allows you to send, receive, and manage Bitcoin assets. There are many different types of wallets, so do some homework to determine which suits your needs. Sending Bitcoin for a wallet is as simple as following these steps:
- Open your software wallet on a mobile device or computer.
- Enter your password or passphrase.
- Select the “Transfer” or “Send” option.
- Input the address carefully via QR code or copy and paste.
- Specify the amount.
- Review and confirm.
- Broadcast the transaction to the network.
Bitcoin ATMs, also known as Bitcoin teller machines, are rising in popularity and availability. They look just like traditional ATMs, but they facilitate Bitcoin transactions via a user-friendly interface. Using a Bitcoin ATM is easy with the following steps:
- Locate a Bitcoin ATM using a locator website or app.
- Verify the authenticity of the ATM to avoid being scammed.
- Some Bitcoin ATMs require you to create an account.
- Select the “Send” or “Transfer” option.
- Enter the recipient’s address carefully – most Bitcoin ATMs will scan QR codes.
- Input the amount.
- Insert the required cash into the ATM.
- Review your transaction and confirm.
- Take your receipt and track the transaction on the blockchain.
Peer-to-Peer (P2P) Platforms
P2P platforms offer a decentralized method of connecting with buyers and sellers without involving a third party. These platforms offer more anonymity and privacy because you don’t need to trust anyone with your personal information. The most popular P2P platforms include Paxful and BitValve.
Each method of sending Bitcoin has its own pros and cons, but they’re all secure and reliable. However, you will need a little due diligence to verify the authenticity of any ATM, platform, or other service you use.