Many people have questions about how to invest in cryptocurrency, set up and use wallets, or access different online exchanges. Yet, none of these things matter if you don’t know how to make a Bitcoin transaction. Which is what brings us here, learning how to make your very first Bitcoin transaction, which can most definitely be difficult without the proper guidance. Lucky for you, you’ve come to the right place for learning more about how cryptocurrency works. So, without further adieu, let’s go over how to make your very first Bitcoin transaction.

This is not intended as financial investment advice.

This article will explain how to access and use a Bitcoin wallet to send cryptocurrency.

Target audience:

The following information is intended for new cryptocurrency users who are either looking to or already have invested in Bitcoin and now seek to execute a Bitcoin transaction.

What will be needed to get started:

Bitcoin

Bitcoin Wallet

Computer, laptop, or device with necessary internet access.

Expectations:

If you follow these instructions, then you can expect to have successfully executed a Bitcoin transaction while also accessing or setting up a wallet in the process.

This guide will allow you to use and send Bitcoin as forms of payment for any situation which allows for it.

For example, you can use this guide to send Bitcoin as a payment for purchases made on an online website which accepts Bitcoin payments.

Step-by-step Guide

Step 1: Download a wallet

The first thing you need to do in order to send out Bitcoin, is to have access to a wallet that can hold your assets. For smartphone users, you can search “Bitcoin.com Wallet” in the Google Play store or the App Store on your iOS device. Once you locate “Bitcoin Wallet” from Bitcoin.com, tap the “Install” or “Get” button.

For desktop users, you can do the same thing by searching this on your browser. Once you reach the bitcoin.com wallet landing page, you’ll be directed to an interface which allows you to download the appropriate version of their wallet onto your computer.

Source: https://wallet.bitcoin.com

Step 2: Deposit BTC into your wallet

Once you’ve downloaded and set up your very own Bitcoin wallet, you’ll want to deposit any Bitcoin that you do own into it, if you haven’t already. To do this, share your wallet address with the sender who in this case might be yourself, a friend who wants to pay you back for lunch, or an exchange that allows you to directly deposit Bitcoin into your wallet.

Source: https://www.bitcoin.com/wp-content/uploads/2017/08/receive.png

To do this, just click on the “Receive” tab which will display your wallet address as well as your unique QR code that can be scanned as well.

Send Your BTC

Once your wallet is all set up and you’ve deposited your Bitcoin, you’re ready to send it to another wallet and execute a transaction. To do this, just click on the “Send” tab and input the recipient’s wallet address. You can do this by copying and pasting the address or using the QR code scanner as well.

Source: https://alternativeto.net/software/bitcoin-com-wallet/

Next, all you’ll have to do is input the amount of BTC you want to send and confirm the transaction, and voila, you’ve just executed your very own Bitcoin transaction! Remember, you can’t send BTC to a BCH wallet and vice versa, so be careful of what you are sending and to what address you’re sending it to.

I’ve Made My First BTC Transaction — Now What?

Now that you’ve successfully executed a Bitcoin transaction, there are several things that you can do to secure your funds. Be sure to safely store your backup or recovery phrase that was given to you when you set up the wallet. It’s extremely important that virtually nobody other than yourself has access to this code, as it can be used to access your digital currency.

You may want to consider using cold storage devices like paper or hardware wallets which aren’t directly connected to the internet, lowering the overall risk of security breaches. Otherwise, just make sure to stay away from any obvious scams which may request access to your wallet information and you’ll be good to go.

Other CoinBundle Crypto Blog articles that will help you along:

Conclusion

So there you have it, hopefully it all worked out and wasn’t too hard to follow. For beginners, the complex and detailed world of cryptocurrency can seem daunting at times, but time and recurring exposure to tangible touch points within the industry will get you up to speed. Maybe you’ll use this to impress your friends the next time you have to make an online purchase, or maybe you’ll be the reason why someone you know finally opens up to the idea of accepting cryptocurrency as a legitimate and viable payment option. Only time will tell this tale, as you participate in what is quickly transforming into the future of finance. As always, happy investing!