A Beginner’s Guide to Sending and Receiving Bitcoin and Bitcoin Cash with the Bitcoin.com Wallet
Participating in the cryptocurrency market requires a proper wallet to store and send Bitcoin or Bitcoin Cash. This article will provide step-by-step instructions on how to use the Bitcoin.com wallet for this purpose.
What is a Wallet?
A wallet is a digital platform where you can store, send, and receive cryptocurrencies such as Bitcoin or Bitcoin Cash. There are various types of wallets available, but the most popular ones are those that run on smartphones.
Getting Started with the Bitcoin.com Wallet
To get started, you can download the Bitcoin.com wallet for free from the app store. The Bitcoin.com wallet supports two different versions of Bitcoin alongside other digital assets. Although there are differences in transaction fees and reliability, the basic process of sending and receiving either version of Bitcoin is the same.
Sending Bitcoin or Bitcoin Cash
When sending BTC or BCH, you will be provided with an address in one of two forms: either a string of letters and numbers that can be copied and pasted into your wallet, or a QR code that you can scan using your device’s camera. Once you have entered or scanned the address, you will enter the amount to send and then confirm the transaction. It’s that easy!
Receiving Bitcoin or Bitcoin Cash
When receiving Bitcoin, your wallet will provide you with a text address or a QR code to share with the person who will be sending you Bitcoin. When the payment is received, you will get a notification and will see your balance increase. If you are storing more Bitcoin in your wallet than you can afford to lose, it’s important to write down your wallet’s recovery phrase so that you can get your money back even if you lose your wallet.
Buying Bitcoin or Bitcoin Cash
To get your hands on Bitcoin or Bitcoin Cash, you can buy directly from inside the Bitcoin.com wallet. If you want to learn more about buying and selling options, be sure to watch the video about how to buy and sell Bitcoin and Bitcoin cash. For more information, you can subscribe to the Bitcoin.com Youtube channel or visit their website at Bitcoin.com.
Conclusion
Having a proper wallet to store and send Bitcoin or Bitcoin Cash is important for participating in the cryptocurrency market. The Bitcoin.com wallet provides a simple and secure solution to meet this requirement. By following the step-by-step instructions in this article, you can easily send and receive either version of Bitcoin and safely store your funds in a digital wallet.