Steps to Depositing Money in a Bitcoin Wallet. This is a complicated question as there is no direct answer to it. In most cases, you cannot deposit money in a Bitcoin wallet. Instead, you can buy Bitcoin from exchanges or other platforms using cash and then load it to your Bitcoin wallet. Here are the steps to take to achieve it: Download a. Transfer Bitcoin between wallets; Send a Bitcoin payment; In fact, this process applies to any Bitcoin transfer you’d like to make. And it keeps you safe from accidentally sending your BTC to the wrong address or other mistakes that could cost you time and hard-earned money. Coinbase – Navigate to the “Send” tab of your Coinbase account. Then choose the wallet of yours you want to send from. Next enter your recipient’s Bitcoin address (can copy and paste) and the amount you want to send them. Click send funds to initiate the transaction. Most wallets have reasonable default fees, and higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it's possible to send 100,000 bitcoins for the same fee it costs to send 1 bitcoin.

1. How To Send Money To The Bitcoin Wallet Account
2. How To Send Money From Paypal To Bitcoin Wallet
3. How To Send Money To Bitcoin Wallet
4. How To Send Money To The Bitcoin Wallet
5. How To Send Money Through Bitcoin Wallet

How to Transfer Cryptocurrency From one Wallet to Another (i.e. how to Send/Receive or Withdraw/Deposit Bitcoin, Ethereum, and Other Cryptos)

To send or receive cryptocurrency, first you need a cryptocurrency wallet, then you need to put in the public address of the recipient to send (or give your public address and have someone else put it in to receive).

Often this can be as easy as scanning the QR code related to the receiving address and typing in the amount you want to send, but in cases where you don’t have a QR code then copy and pasting the public address is the next best bet.

From there you just choose the amount you want to send, follow any other wallet-specific instructions (for example adding funds for fees if necessary), and then hit send (or your wallet’s equivalent).

Once that is done the transaction just needs to settle on the blockchain (how long that takes can differ between blockchains and depend on how much you paid in fees).

If you are anxious, you can always check the status of the transaction on the blockchain by using the block explorer of the coin you sent.

Below I’ll walk through the process in a bit more detail to make sure you fully understand each step.

TIP: The above process is sued to send/receive crypto, withdraw/deposit crypto, and buy things with crypto… it is how crypto transactions work regardless of what their purpose is 😉

Sending and Receiving Cryptocurrencies

This process of sending and receiving cryptocurrencies like Bitcoin, Litecoin, Ether, etc. can differ slightly between wallets (as each coin has its own set of wallet options in which that cryptocurrency can be stored), but in general:

1. Log into a wallet you have funds in.
2. Go to the send/receive screen (by clicking the tab or button that says this or shows the proper icon).
3. Choose whether you want to send or receive cryptocurrency. TIP: In general you must only send and receive like-coins. Meaning, you can only send/receive Bitcoin-to-Bitcoin, Litecoin-to-Litecoin, etc. (you can’t, for example, send Bitcoin to an Ethereum wallet or even Bitcoin to a Bitcoin Cash wallet).
4. For sending: Enter the public wallet address of the recipient and choose the amount to send (make sure to account for transaction fees; you’ll need enough coins in your wallet to pay the fee). After you confirm the numbers, triple-checking them to avoid silly mistakes then hit “send transaction” (or the equivalent) and verify the transaction one last time (confirming your public address and their public address is correct). TIP: you can write a note with your transaction to let the recipient know what transaction is for. TIP: Using a QR code to copy an address helps avoid potential mistakes.
5. For receiving: You don’t have to do anything except share your public wallet address with the sender. If you are in person, you can do this by letting them scan a QR code (if your wallet offers that).

If you are still uncertain, just look up the FAQ for the wallet you are using to verify you have the steps down. Check out the video below for more.

How To Send Money To The Bitcoin Wallet Account

Tips and Tricks For Crypto Transactions

Below are some more tips and tricks for crypto transactions.

Send a test amount to new addresses: Before you send a lot of crypto, try sending a little bit as a test to make sure everything is working.

Using exchanges to send coins: For sending between exchanges you’ll want to use the withdraw and deposit buttons on the exchange next to the token you want to send. You must follow directions carefully, as sometimes you’ll need to follow specific directions. For example you might need to include a message, and sometimes you can only send whole numbers of coins. You may also need to use your authentication codes.

TIP: A wallet’s public address (or “public key”) looks like this: BTC Wallet: 1Bn9PjWsFwfwLLEbhagQE9ksUSBcT2jLTm, ETH Wallet: 0xf902fd8B2AEE76AE81bBA106d667cCF368C2f9A1, LTC Wallet:LdRi8Md4bU8iCv3gkHv4NfvMoitV3AXF6u… Private keys look different. You should never share your private key, but as you can tell from our share above, sharing your public wallet address is not a problem. So again, do share the public address that looks like that (the worst that can happen is someone puts coins in it), but never share your private key or password (as that is like handing a stranger your wallet).

Crypto-to-crypto exchange: You can use a platform like Shapeshift to turn one type of cryptocurrency into another. That can be helpful if you have Bitcoin, but want to do a transaction in another coin.

Why didn’t my transaction go through? After you have sent some coins (AKA tokens AKA cryptocurrency), you’ll need to allow some time for the transaction to go through. It can be nearly instant, or it could take a few minutes, or if traffic is high, it could take hours. In most wallets, you can view pending transactions. Remember, the transaction will be added to the coin’s public blockchain (a digital ledger of transactions), so you’ll always be able to see an encrypted version of it. See Etherescan.io for an example of a website that let’s you view every public action on a blockchain.

What it looks like in a bitcoin wallet.

A lot of people have gone through our training on how to make their first purchase of Bitcoin, and then how to use that Bitcoin to buy other specific altcoins.

But there is one last piece to this puzzle missing.

And that is how to add Bitcoin to your offline or hardware wallet.

This step is extremely important.

When you first buy any sort of cryptocurrency, you most likely are using an exchange to do so.

There are other ways to purchase Bitcoin, like using a Bitcoin ATM machine, but 99% of people will be using an exchange to get their hands on this digital gold.

But there is a risk to this.

The Risk Of Leaving Your Bitcoin On An Exchange

The risk is that you are leaving your Bitcoin open to attacks from hackers and thieves.

What you must understand is that when you sign up to an exchange, your account is associated with cryptocurrency public addresses.

This means that you have your own destination that you can share with others to send and receive Bitcoin and other cryptocurrencies.

How to find your public address is pretty much the same for every exchange, so if you know how to find it on one, you’ll easily be able to find it on any other one.

So, as an example, here is how you find your Bitcoin public address on Binance:

You go to the top right corner and hover over “Funds.”

Then click “Balances”.

This then brings you to a page of all of the cryptocurrencies available for purchase on the exchange.

Assuming we want to know our Bitcoin public address, type in “Bitcoin” in the search bar.

Then click “deposit”.

Here is where your Bitcoin public address is.

If you bought Bitcoin through Binance, this is where your Bitcoin would be sent.

If you also bought Bitcoin on another exchange – let’s say Coinbase – and wanted to send it to Binance so you could purchase another cryptocurrency with it, this is the address you would copy and paste to do so.

But there is a problem with this.

The problem is that you only have access to this address: your PUBLIC address.

But you DO NOT have access to your PRIVATE address.

This is why you NEVER want to leave your cryptocurrencies on ANY exchange.

Think of your private address as the password to your bank account – if someone knows what it is, they can simply login in and drain your account.

I’m not saying that anyone at Binance has access to your private key, but what I AM saying is that your private key is stored online.

And YOU don’t even have access to it.

And this is a huge problem.

You should never store your Bitcoin, altcoins, or any other cryptocurrency in a wallet that stores its private key online.

Especially not an exchange wallet.

So what you have to do is deposit your Bitcoins into an offline (hardware) wallet.

The first step in doing so is to actually get yourself a hardware wallet.

Bitcoin Hardware Wallets That Are Safe To Deposit Your Funds

The 3 most popular, highly-praised hardware wallets in terms of safety in adding Bitcoin to are:

These wallets are top of the line and are the highest-security hardware wallets money can buy.

What Information Do I Need To Add Bitcoin To My Hardware Wallet?

Okay, so now you bought a hardware wallet.

Great!

The next step to secure your Bitcoin is to add it to your hardware wallet public address.

The wallet that I personally use is the Ledger Nano S.

So I will use this as an example.

Now, before we get into how to actually do this, let’s understand one thing:

Sending and receiving Bitcoin between wallet addresses is universally the same process.

What I mean by this is that depositing your Bitcoin from your Kucoin exchange wallet to your Trezor wallet is the same process as depositing Bitcoin from your Cex.io wallet to your KeepKey wallet, which is the same process as depositing your Bitcoin from your Coinbase wallet to your Ledger Nano S wallet.

This is because, in every instance, all you need are the same two pieces of information:

• Your login credentials
• The public address of the destination wallet

If you have both of these things, you can successfully add Bitcoin from your online wallet to your offline wallet.

Funding Your Bitcoin Account And Adding It To Your Wallet – The Entire Process

Now it’s time to figure this whole process out.

How do I go from having my money in hand, to buying Bitcoin with it, and then adding that Bitcoin to my wallet?

This is how you do it.

For this example, I’m going to use one of the most popular exchanges and one of the most popular hardware wallets.

We will be taking our Bitcoin from our online Coinbase wallet, and depositing it into our offline Ledger Nano S wallet.

How To Send Money From Paypal To Bitcoin Wallet

1. Buy Bitcoin On Coinbase.

So, obviously, the first thing you have to do is actually buy the Bitcoin.

There are many places you can buy Bitcoin from, but for the purposes of this example, let’s say we use Coinbase.

We actually have a full, step-by-step walkthrough of exactly how to buy Bitcoin on Coinbase.

We will continue on, assuming you have gone and read this article.

2. Locate Your Ledger Nano S Public Address.

Now that we have actually made our Bitcoin purchase, it is now time to take it off of the exchange and place it in our safe, offline wallet.

To do this, we must find the public address of our hardware wallet.

For the Ledger Nano S, this how you find it:

Go to the Ledger Wallet website and download the Ledger Wallet Bitcoin & Altcoins.

Then, plug in your Ledger Nano S.

When you plug the Ledger Nano S into your computer, this screen will show up:

Here, it will ask you if your Bitcoin address is Segwit or Legacy.

For fear of going too far down the rabbit hole here, simply select “I don’t know” for now.

We will explain the difference between Segwit and Legacy addresses in a future article.

Next you will see this screen.

Click “receive.”

Here, it will display your public Bitcoin address.

This is the wallet address that you will be adding your Bitcoin to.

3. Fund Your Wallet By Depositing The Bitcoin To This Public Address

Now that you have the public address of your destination offline wallet, you have to go to Coinbase and send the Bitcoin to it.

Note that I have bought $100 worth of Bitcoin in order to show you how this transaction works (a little less because of the transaction fees and volatility).

On your Coinbase dashboard, go to “Accounts”.

You’ll see the total amount of Bitcoin in your Coinbase wallet on the left.

We want to send the Bitcoin from this wallet to our Ledger Nano S wallet.

Click “send”.

Here is where you copy and paste your Ledger Nano S public address.

Keep in mind that, as I said, this process is the same for all exchanges.

You simply find the specific cryptocurrency you are trying to fund your offline wallet with, and then click either “send” or “withdraw”.

Most exchanges actually saw “withdraw”.

But the option is the same.

Two areas typically pop up when you do this:

• The destination public address
• The amount you are sending

That’s all the information your have to put it.

You just need to know the public address of the wallet you are funding, and the amount you wish to send.

In this case, I’m just going to send the entire amount.

Click “continue”.

4. Confirm This Transaction Via Email

Depending on the exchange, there may be a verification email sent to you in order to confirm this transaction.

This is simply an added security feature in order to make sure it is actually you that is sending the money.

Once you find this email and click “confirm”, the transaction is final.

Now all you have to do is wait for the funds to be added to your wallet!

This can take anywhere from a couple minutes up to an hour.

So don’t freak out or stress if you don’t see your wallet funded right away!

How To Send Money To Bitcoin Wallet

The funds are on their way and will be deposited shortly.

If you prefer video, here is a great video detailing the steps of transferring bitcoin between wallets:

Adding Bitcoin To Your Wallet: Closing Remarks

And that’s it!

You have officially sent, received, and successfully funded your Bitcoin wallet!

That wasn’t so hard, was it?

Admittedly, I was on the edge of my seat the first time I did it, too.

With this whole world being so new to me at the time, it took a while for me to actually summon the courage to actively send my Bitcoin from one place to another.

But after the first few times, I got used to it.

And you will, too!

Just be sure to take your time and follow this guide step-by-step.

How To Send Money To The Bitcoin Wallet

Before you know it, you will have safely added your Bitcoin to your offline wallet!

How To Send Money Through Bitcoin Wallet

Good luck!