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Here we are showing you how to get started with creating a wallet and sending Cryptocurrency in under 10 minutes from the confort of your living room.
For the purpose of this guide we're going to use as example Blockchain.com the world’s most popular digital currency wallet. With over 46 million wallets, $200B transacted, and the lowest fees in the industry, it’s no wonder they are the most trusted cryptocurrency wallet provider.
Creating a Wallet
A Cryptocurrency wallet is a software program where Cryptocurrency is stored. Cryptocurrency wallets facilitate sending and receiving money and give ownership of the Cryptocurrency balance to the user. The wallet comes in many forms; desktop, mobile, web, and hardware are the four main types of wallets. Create a Wallet Here
Adding Bitcoin to your Wallet
When you download the Blockchain.com Wallet app on your Android or iOS device and sign up for a new wallet, you will be asked if you would like to buy crypto now or simply proceed to the Wallet. To place a buy order, select the Buy Crypto option and follow these steps:
- Choose which cryptocurrency you would like to purchase. You can select from: bitcoin, ether, bitcoin cash, stellar, and USD PAX.
- Input the amount you would like to buy, or choose from the suggested amounts. Keep in mind you can always place another order later if you would like to buy more.
- After that, you’ll need to verify your identity to proceed with the order. This process generally takes a few minutes but may take longer if your case requires manual review; you will need to input some information about yourself and upload a legal document (such as a passport) and a selfie.
- Once you’re verified, you’ll see a checkout screen with the details of your order. Confirm your purchase details, then click Continue.
- The next screen will contain the payment details for your cryptocurrency purchase. Securely transfer whichever currency you are paying with from your bank account to Blockchain.com using the details on this screen. Please note that the recipient name in the Transfer Details screen must match the account holder name of your bank account exactly. If it does not match, your transfer could be rejected.
- Your purchase is now pending. Once we receive your funds, your order will go through and your cryptocurrency will become available.
Sending Bitcoin
- Click on Send and select Bitcoin from the Currency drop-down menu.
- In the To field, paste the recipient’s address OR scan the recipient’s QR code.
- example of address: 15iv7CTusSVE5vBj92RKXatRZETnQFKLqU
- Enter the amount you want to send.
- Add an optional description for your transaction.
- From the Transaction Fee drop-down menu, choose either a Regular or Priority fee. Regular fees are lower, but transactions can take over an hour to confirm. Priority fees cost more but are calculated to ensure transactions confirm within an hour.
- Once you're ready to send, click Continue to review the details of your transaction.
- Once you have verified your transaction details, click Send Bitcoin to send the funds. If you need to modify your transaction details, like the recipient’s address or the amount, select Go Back to return to the previous step.