What is Bitcoin?
Bitcoin is a peer-to-peer digital money and payment network. It runs without a central authority or bank.
Behind the scenes, Bitcoin uses a public ledger called the blockchain. This ledger holds every transaction processed on the network, which helps participants verify transactions without any single company controlling the record.
How to send Bitcoin in the Crypto.com App
In the Crypto.com App, here's the basic flow:
- Open the App, go to 'Accounts', tap 'Crypto Wallet' and find your Bitcoin balance.
- Select 'Transfer', then tap 'Withdraw'.
- Choose 'Crypto.com Users' to send to another App user, or 'External Wallet' for an outside address.
- Enter the exact amount of Bitcoin, check the network details and verify the withdrawal with your preferred protection method, such as two-factor authentication (2FA).
What should you check before sending Bitcoin externally?
For an external wallet, you'll need the recipient's exact public wallet address. Double-check the address and network details before you confirm.
Before you can send Bitcoin to a new external address in the App, you need to add it to your withdrawal whitelist and verify the addition with your protection method, such as 2FA.
Once a Bitcoin transfer is authorised and confirmed on the network, you can't cancel or reverse it in the App.
What fees can apply when sending Bitcoin?
It depends on the route. Bitcoin transfers to another Crypto.com App user are instant and free of charge. Other fees, spreads or transfer limits may apply.
If you withdraw Bitcoin to an external wallet, standard network withdrawal fees apply. Check the transaction details and network costs in the App before you confirm.
