If the affairs of cryptocurrency are somewhat confusing for you, you are not alone. Unfortunately, it is the case for some people. However, a thorough study of its processes will make it doable for you, and we will be answering one question using this article, “how to send cryptocurrency to another wallet.” If you understand how cryptocurrency works, sending cryptocurrencies to another wallet will be a smooth ride for you. This is why you have articles like this one.
Making cryptocurrency transactions like sending crypto to another wallet has a smooth path to it. If you want to learn how to send cryptocurrency from one wallet to another person, read through this article before you get started. This article discusses the different types of wallets and how to send cryptocurrency through different crypto wallets to another wallet
An introduction to cryptocurrency wallets
A crypto wallet is what makes it possible for you to make transactions in the crypto space. There are three existing types of crypto wallets you can choose from; software, hardware, and paper wallet. Software wallets are hosted online. They are hot storage systems because they are online. These wallets are easily exposed to attacks, giving the online space’s fragility. Hardware wallets, on the other hand, operate completely off the online space. They are devices that look like hard drives.
Hardware wallets operate cold storage systems because they are offline. Before you can access the crypto information in them, you will plug them into devices like computers. Though a lot of people think sending cryptocurrency via a hardware wallet will be a complex and strenuous procedure, it’s not. Keep reading to know how to send cryptocurrency via a hardware wallet. The paper wallet is another cold storage system for your cryptocurrency. A paper wallet is basically paper with information about your cryptocurrency. The paper has your QR code and keys needed to make transactions.
Whatever kind of wallet you have, ensure that you keep it is safe. To ensure that you do not expose your wallet to a single source of damage, ensure to create a backup for it. Keep your wallet from the reach of others. Your crypto information should be with you alone, except you trust another person with the information. If you have a hardware wallet, it is recommended to have it secure following the 3-2-1 methods. This method demands that you have three copies of your wallet and save two copies in two different media on-site. Keep the third copy offline. If anything happens to the on-site wallets, you can still access your cryptocurrencies through the last copy saved offline and vice versa.
How to send cryptocurrencies to another wallet using different wallet types?
There are different ways to end money to different cryptocurrency wallets. Here are some of the methods to send money to another cryptocurrency wallet
How to send cryptocurrencies from a software crypto wallet?
There are different ways of sending crypto from software wallets on different platforms. However, if you know the standard way of sending crypto to a software wallet, you can perform the transaction on different platforms. Here are the steps to end crypto from one software wallet to another:
- Open your software crypto wallet and navigate the menu. Click on the “send” tab
- The platform will request you to provide the receiver’s address. Ensure you have the recipient’s address ready before you start the transaction.
- Get a label for the transaction. This step is necessary as the label will help you to track the transaction.
- The next step is to input the amount you wish to transfer to the recipient
- Finalize the transaction. If you have inputted the correct details, you can send the crypto.
After making the transaction, you and the recipient will be able to verify it, though the crypto network might take a while to approve the transaction.
How to send cryptocurrencies to a hardware crypto wallet?
You can send crypto from different exchanges to your hardware wallet. There might be slightly different procedures for sending crypto from different exchanges to hardware wallets. However, the step outlined here can guide you to send fiat currency from any exchange to a hardware wallet
- Plugin the hardware wallet and input the pin to sign in to it.
- From the drop-down menu shown, select the coin you want to receive on the hardware wallet.
- Click on “receive.”
- Click on “show full address” to see the full address. Verify if the address is correct.
- If the address is correct, copy it.
- Sign in to the exchange you want to send the fiat currency from
- Select “accounts”
- Select the coin you want to send to the hardware wallet and select “send.”
- In the recipient box, paste the address you copied
- Select the amount you want to send
- Click on “continue.”
- You will be required to enter the two-step verification code before you can proceed. Input the code and click on “proceed.”
If the transaction is complete, it will be visible on the “account” section of the hardware wallet.
How to send cryptocurrencies through a paper crypto wallet?
Sending crypto to another wallet using the paper wallet requires going through the software wallet. You will first transfer the crypto from the paper wallet to the software wallet, then send it from the software wallet to the recipient wallet. To transfer digital currency from a paper wallet to a software wallet, you have to:
- Get access tit the paper wallet. To accomplish this, you can either scan the QR code on your paper wallet or enter the paper wallet’s serial number on your software wallet.
- Import the private key on the paper wallet to the software wallet.
- Import or sweep the fiat currency from the paper wallet to the software wallet. Sweeping the crypto is safer because the currency will be off the paper wallet while you are at it. This secures them against any access.
- After successfully importing the crypto, send them to the recipient’s wallet following the software method explained above.
Top Tips on Sending cryptocurrencies from one wallet to another
- Before you import cryptocurrency from an exchange or wallet to another wallet, ensure that you backup your wallet. In the transaction process, anything can happen. It helps to have your wallet backed up always.
- Ensure that the details you enter are correct. When you input the recipient’s details, ensure that you get it right. If you enter the wrong address, the recipient will not receive the crypto, and you will have lost it as the transaction is irreversible. To limit the possibility of making fatal mistakes, double-check the details with the recipient. Also, ensure that you enter the right amount of crypto before sending it.
- Note that when you are sending crypto to a hardware wallet, the blockchain’s mining traffic can determine how fast the transaction will be. If the transaction takes some time, it is no cause to panic. You can give it up to an hour or so.
Guide to creating hi wallet
hi makes it very easy to venture into cryptocurrency. Unlike the existing banking system, which is solely interested in making money from you, his purpose is to make money for you. Hi can be used to make money in a variety of ways:
- HI can be bought via Telegram or WhatsApp. Log in to your “Telegram or WhatsApp” Then, in the chat, type “HI” to bring up a menu that allows you to establish an account. To finish the signup and gain access to your hi wallet, follow the instructions displayed on your screen. Your hi wallet is automatically established when you sign up for an account.
- To test it, add some cryptocurrency to your wallet. To bring up the menu, tap the “hi” logo on the main screen and select deposit.
- From the drop-down menu, choose which cryptocurrency you’d like to deposit.
- Copy the Deposit Address to your clipboard and confirm once you’ve selected the crypto you’re depositing, let’s say USDT. You’ve just sent cryptocurrency to your hi wallet, which is great news.
When practicing how to send cryptocurrencies via any type of wallet, you should ensure that the information you enter are correct before you make the transaction. This is because the transaction may not be approved immediately. You might need to wait for an hour or two if there is high traffic on the blockchain.