Bitcoin Guidebook: Everything You Need to Know About Bitcoin: Saving, Using, Mining, Trading, and Investing (bitcoin mining, crypto currency, buy bitcoin, bitcoin book, how to buy bitcoin) by Joseph Goodman

Author:Joseph Goodman
Language: eng
Format: azw3
Publisher: Mustang Publishing
Published: 2017-08-31T07:00:00+00:00

Receiving Bitcoins

Different wallets have different interfaces, but the concept is the same. A simple procedure to ascertain receipt of Bitcoins to your wallet is as follows:

Open your wallet and locate the receive section. In every portfolio, this option is available, don't panic if you cannot spot it right away. Instead, take your time to understand the wallet you are using.

Your wallet is equipped to generate addresses for you. Each address shall be used only once during a transaction. Click the ‘generate new address’ option and send it to the person who needs to transfer Bitcoins to you. An address consists of 26 characters made up of numbers and letters. You may also opt to generate a QR code instead.

The transaction has to be confirmed a couple of times (at most six times) to guard against double spending and to ensure that you send to a correct address.

In the case where you are buying the Bitcoins, you will need to make payments before you are able to receive the Bitcoins.

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