How to send and receive Bitcoin (BTC)

Sending Bitcoin isn’t like handing over cash – it’s more like giving the network clear instructions on where your funds should go. In this article, we’ll break down exactly how it works, from wallet addresses to fees and confirmation times.

What’s a Bitcoin wallet and how does it work?

A Bitcoin wallet is a piece of software that lets you view balances and approve transactions on the Bitcoin network using cryptographic credentials tied to you.

Some wallets are custodial; an example is the Crypto.com App, which manages the technical complexity on your behalf. These are often chosen for their ease of use, built-in recovery options and straightforward interfaces.

Others are non-custodial, such as Crypto.com Onchain or hardware devices. Here, users hold their own wallet credentials and take full responsibility for every transaction they approve.

Wallets can live on a phone, a computer or a physical device. Regardless of form, Bitcoin transfers are irreversible. A wrong address or network selection cannot be undone, which makes care and precision essential.

Bitcoin wallet address, explained

A Bitcoin wallet address is a long string of letters and numbers that tells the network where BTC should be delivered. It functions much like an account number, uniquely identifying a destination on the Bitcoin blockchain.

You may encounter several address formats, including Legacy addresses starting with ‘1’, SegWit addresses starting with ‘3’, and newer Bech32 addresses beginning with ‘bc1’. All are valid for Bitcoin, but only on the Bitcoin network.

Because addresses are lengthy and case-sensitive, most wallets support tap-to-copy and QR codes to reduce errors. Bitcoin sent to a non-Bitcoin address or network may be permanently lost.

How to send BTC

The process usually involves these few steps: You choose a person whom you want to send BTC to (or a destination address), decide how much to send, review the fee required by the network and approve the transfer. 

Once confirmed, the transaction is broadcast to the Bitcoin network and can’t be reversed. That’s why it’s worth slowing down to check the details before sending.

The experience and cost can vary depending on the route you take.

1. How to Send BTC in the Crypto.com App

For many users, the Crypto.com App is where sending Bitcoin feels most intuitive. The App is designed to guide you through each decision point without requiring you to understand the mechanics happening in the background.

After opening the app, follow this navigation:

After tapping ‘Transfer’, you’ll see options to withdraw to an external wallet. From there, you can add a new Bitcoin address or choose one you’ve used before.

You’ll then enter the amount to send – either in BTC or its USD equivalent – and review the network fee before confirming. The App surfaces these details clearly, so there are no surprises at the final step.

Features like address books, address whitelisting and price alerts are built in to reduce friction and help you stay organized. 

For those funding BTC purchases first, zero-fee USD deposits can make getting started more straightforward.

2. How to send BTC from a non-custodial (on-chain) wallet

Sending BTC from a non-custodial wallet follows the same logic, but with greater personal responsibility. Here, you control the wallet credentials directly and every transaction is submitted to the Bitcoin blockchain.

The process typically begins by opening your wallet, selecting Bitcoin, and choosing the ‘Send’ option. You paste the recipient’s Bitcoin address – or scan a QR code – then set a miner fee based on how quickly you want the transaction confirmed.

Higher fees generally signal urgency to the network, while lower fees may result in longer wait times. Before confirming, most wallets allow you to review the full transaction details one last time.

Because there’s no intermediary, backups and recovery phrases should be stored carefully. If access is lost, there’s no reset button.

3. How to send BTC to friends on Crypto.com

Sending Bitcoin to friends who also use Crypto.com can be faster, as it doesn’t require going through the on-chain path. 

Instead of copying long addresses, users can transfer BTC directly within the App.

There are two ways to go about it. First, from the‘Transfer’ section, choose ‘Send Crypto to User’ and search for your friend by username. After entering the amount and confirming, you’ll initiate the transfer and you’ll receive notifications when it’s complete.

Alternatively, you can do so via Crypto.com Pay, which gives you a similar ‘pay friends and family’ experience.

How to receive BTC in the Crypto.com App

Receiving BTC in the Crypto.com App starts with one simple action: Sharing your BTC wallet address. This address is public and tells the Bitcoin network exactly where incoming funds should be delivered.

Follow this navigation:

After tapping ‘Receive’, you’ll be led to view a unique BTC address and a QR code. You can choose to use either one; both point to the same destination.

Most users copy the address directly using tap-to-copy, which reduces the risk of errors. Once shared with the sender, the transfer will appear as pending until the required network confirmations are completed.

How to receive BTC in Crypto.com Onchain

Crypto.com Onchain is a non-custodial wallet, meaning you receive BTC directly on the blockchain, under your own control. The receiving process is straightforward, but it assumes you’re comfortable taking responsibility for accuracy.

To receive BTC, follow these steps:

1. Open Crypto.com Onchain.
2. Tap ‘Receive’ from the home screen. 
3. Select ‘Bitcoin (BTC)’. 
4. The app will display your Bitcoin address along with a QR code, both pointing to the same destination.
5. Share the address with the sender by copying it directly or letting them scan the QR code. 

Crypto.com Onchain uses SegWit-compatible Bitcoin addresses, which are widely supported across the network.

Before sharing, confirm the sender is using the Bitcoin network. Bitcoin sent to a different blockchain or incompatible network may not be recoverable, even if the address looks similar.

How to receive BTC in an external wallet

Receiving Bitcoin in an external wallet, such as a hardware wallet or third-party mobile wallet, follows the same underlying principle. The wallet generates a Bitcoin address that acts as your receiving destination.

After opening the wallet, select ‘Receive’ and copy the Bitcoin address provided. Some users prefer to share the QR code to avoid manual entry.

Note that the user interface and flows differ for each wallet.

Before large transfers, it may be prudent to send a small test transaction first. Network fees, confirmation times and congestion can affect how long it takes for the transaction to be confirmed and reflected as complete in the receiving wallet.

What to know before sending or receiving BTC

Once a transaction is submitted, BTC or other assets don’t ‘arrive’ immediately. Instead, it enters a public queue where it is gradually confirmed by the network.

When you send BTC, the transaction is first broadcast to the network and marked as pending. From there, miners decide which transactions to include in the next block, based largely on the fees and network traffic.

Each new block added after that increases confidence that the transaction is final. This is why platforms and wallets talk about confirmations rather than instant settlement. And it’s also why a transaction can look complete in one wallet but still show as pending elsewhere.

How to verify a Bitcoin transaction

Every Bitcoin transaction can be tracked publicly using a block explorer. A block explorer is a search tool that lets anyone view transactions recorded on the Bitcoin blockchain.

To verify a transaction, copy the transaction ID (TXID) provided by your wallet or platform and paste it into a block explorer such as blockchain.com or mempool.space. This reveals key details, including confirmation status, fees paid and the block number.

Crypto.com users may also see transaction status updates directly in the App, which reflect the same on-chain information as the public blockchain.

Bitcoin network fees, explained

Bitcoin network fees are payments made to miners for processing transactions. These fees act as an incentive for miners to include transactions in blocks, which have limited space.

Fees change constantly. They are influenced by network congestion, transaction size and how quickly a sender wants confirmation. When demand is high, fees rise; when activity slows, fees tend to fall.

Most wallets estimate fees automatically and offer speed options. Paying a higher fee generally increases the chance of faster confirmation, while lower fees may result in longer waiting times.

How long does a BTC transaction take?

BTC transactions don’t settle on a fixed timetable. Instead, confirmation time depends on network conditions and the fee attached to the transaction.

Under normal conditions, the first confirmation may arrive within about 10 minutes, which is the average time it takes to add a new block. Additional confirmations follow as more blocks are added, increasing certainty over time.

When network activity is high, transactions with lower fees may remain pending longer. This is why a transfer can appear delayed even though nothing has gone wrong. Many platforms wait for multiple confirmations before marking a transaction as complete.

On-chain vs off-chain BTC transfers

On-chain Bitcoin transfers are recorded directly on the blockchain. These transactions are public, verifiable and subject to network fees and confirmation times.

Off-chain transfers take place within a platform’s internal system before being settled on-chain, if at all. Because they don’t immediately compete for block space, off-chain transfers are typically faster and may involve lower to no fees.

An example is transferring Bitcoin between users on the same platform, such as Crypto.com-to-Crypto.com transfers, where the experience is simplified and the transaction near-instant.

Common mistakes to avoid when transferring BTC

Send and receive BTC with ease on Crypto.com 

Whether you want to move BTC over from external wallets or wish to send a token of appreciation to friends and family, it’s a fuss-free experience on Crypto.com. Sign up for a free account and try it out for yourself today. 

FAQs about sending and receiving Bitcoin (BTC)

How do you send BTC to someone?

To send BTC, you need the recipient’s Bitcoin wallet address. After choosing the amount, you confirm the transaction and submit it to the Bitcoin network. The transfer is then processed through network confirmations, which determine when the transaction is considered complete.

How do I send BTC for the first time?

For a first transfer, start small. Make sure you’re using the Bitcoin network, copy the recipient’s address carefully and review the fee before confirming. Many first-time users send a small test amount to understand how confirmations and timing work before sending more.

What’s the cheapest way to send Bitcoin?

The lowest-cost way to send Bitcoin is usually during periods of low network activity, when fees are reduced. Some platforms also support off-chain or internal transfers, which may involve low or no fees compared to standard on-chain transactions. 

Fees vary depending on timing and network demand. Some users may opt for Lightning Network for cheaper fees if it’s supported on their exchange or wallet.

Do I need a wallet to send BTC?

Yes. To send BTC, you need access to a Bitcoin wallet, which provides the tools required to authorise transactions on the network. This can be a custodial wallet managed by a platform or a non-custodial wallet where you control the credentials directly.

How long does a BTC transaction take?

There’s no fixed duration. Under typical conditions, the first confirmation may occur in about 10 minutes, but full confirmation can take longer depending on network congestion and fees paid. Some platforms wait for multiple confirmations before marking a transaction as complete.

Why is my BTC transaction pending?

A pending transaction usually means it has been broadcast to the network but not yet included in a block. This can happen when network activity is high or the attached fee is lower than what miners are prioritizing at that time.

What’s a Bitcoin network fee?

A Bitcoin network fee is a payment made to miners for processing a transaction. As block space is limited, fees help determine which transactions are confirmed first. The amount varies based on network demand and transaction size.

Can I cancel a BTC transaction after sending?

No. Once a BTC transaction is broadcast to the network, it can’t be cancelled or reversed. If it remains pending, it may eventually confirm or be dropped, but this outcome can’t be guaranteed.

What’s the safest way to receive BTC?

The safest way is to use a wallet you trust, share your Bitcoin address carefully and confirm the sender is using the Bitcoin network. Using copy-and-paste or QR codes reduces the risk of address errors.

Can you send Bitcoin to an Ethereum or other network address?

No. Bitcoin can only be sent to Bitcoin-compatible addresses. Sending BTC to an address on another blockchain may result in permanent loss.

What happens if I send BTC to the wrong address?

Bitcoin transactions are irreversible. If BTC is sent to the wrong address, it generally can’t be recovered unless the recipient controls that address and is willing to return the funds.

How do I check my BTC transaction on the blockchain?

You can check a transaction by pasting its transaction ID (TXID) into a block explorer. This shows details such as confirmation status, fees and block inclusion. Some platforms also display this information directly within their apps.

Why do Bitcoin addresses change?

Many wallets generate a new address for each transaction to improve privacy. Older addresses usually remain valid, but using fresh addresses makes it harder for third parties to link transactions together.

Important Information: This is informational content sponsored by Crypto.com and should not be considered as investment advice. Trading cryptocurrencies carries risks, including price volatility. Past performance may not indicate future results. There is no assurance of future profitability. Consider your risk appetite before trading cryptocurrencies.

Services, features, and benefits referenced may be subject to eligibility requirements and may change at Crypto.com’s discretion.

If you use a non-custodial wallet, you are responsible for securely storing your seed phrase. Losing it may result in loss of access to your assets.

Note that third-party information is subject to change.