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How To 3 min read

How to Send and Receive Crypto: A Step-by-Step Guide

Master the basics of transferring digital assets without losing them.

Key Takeaways
  • Always triple-check the recipient's address.
  • Only send like-for-like (e.g. Bitcoin to Bitcoin).
  • Account for network fees when sending.
  • Transactions are irreversible.

Sending and receiving cryptocurrencies like Bitcoin, Litecoin, or XRP can vary slightly depending on your wallet, but the core principles are always the same.

The Golden Rule of Crypto

You must only send and receive like-coins. Meaning: Send Bitcoin to a Bitcoin address only. Send Ethereum to an Ethereum address only. If you send Bitcoin to an Ethereum wallet, your funds will likely be lost forever.

Part 1: How to Send Cryptocurrency

Follow these steps carefully to avoid costly mistakes.

  1. Log In: Open the wallet where you currently hold your funds.
  2. Locate the Button: Look for a button labeled Send (often represented by an arrow pointing up or away).
  3. Enter Recipient's Address: Paste the Public Wallet Address of the person you are sending to.
    • Never type this by hand. Use Copy/Paste or scan their QR code.
  4. Enter Amount: Choose how much you want to send.
    • Note: Ensure you have enough left over to pay the Network Fee (Gas).

The Golden Rule of Crypto

You must pay a transaction fee (Gas) to the network validators. Crucial: This fee is paid in the native currency of the network. Example: If you are sending USDT on the Ethereum network, you must have ETH in your wallet to pay the fee. If you have 100 USDT but 0 ETH, you cannot send the money. Always keep a small balance of the native coin (ETH, SOL, BNB, etc.) for fees.

Understand how Gas Fees work →

  1. Triple-Check: Verify the first 4 and last 4 characters of the address match exactly.
  2. Confirm: Click ‘Send Transaction’ or ‘Confirm’.

Pro Tip

Paranoid? Good. If you are sending a large amount, send a small "test transaction" (e.g., $5) first. Once the recipient confirms they got it, send the rest.

Pro Tip

Still Unsure? Search the Help Center of the specific wallet or exchange you are using. Official websites are credible and often have visual guides for their specific buttons and layouts. While every platform looks different, understanding the Address and Network is the key to safety across all of them.

Part 2: How to Receive Cryptocurrency

Receiving is much safer because you don't need to sign a transaction; you just need to provide your address.

  1. Access Your Wallet: Open the wallet for the specific cryptocurrency you want to receive (e.g., select "Bitcoin" if you are receiving BTC).
  2. Click Receive: Look for a button labeled Receive (often an arrow pointing down).
  3. Share Your Address: You will see a long string of characters and a QR code.
    • Click "Copy" to share the text address.
    • Or show the QR Code for the sender to scan.
  4. Wait: You don't need to do anything else. The funds will appear once the network processes the transaction.

FAQ: Why didn’t my transaction go through immediately?

Crypto transactions are not always instant like a credit card tap. They must be verified by the blockchain.

  • Network Congestion: If many people are using the network, it may take minutes (or sometimes hours) for your transaction to be included in a block.
  • Low Fees: If you set your network fee too low, miners might prioritize other transactions over yours.