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How To Transfer Bitcoins Between Wallets

How To Store Your Bitcoins - Bitcoin Wallets - Coindesk

How To Store Your Bitcoins - Bitcoin Wallets - Coindesk

Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your funds. They come in different forms, designed for different types of device. You can even use paper storage to avoid having them on a computer at all. Of course, it is very important to secure and back up your bitcoin wallet. Bitcoins are a modern equivalent of cash and, every day, another merchant starts accepting them as payment. We know how they are generated  and how a bitcoin transaction works , but how are they stored? We store fiat cash in a physical wallet, and bitcoin works in a similar way, except it's normally digital. Well, to be absolutely accurate, you don't technically store bitcoins anywhere. What you store are the secure digital keys used to access your public bitcoin addresses and sign transactions. This information is stored in a bitcoin wallet. Bitcoin wallets come in a variety of forms. There are five main types of wallet: desktop, mobile, web, paper and hardware. Here’s how they work. If you have already installed the original bitcoin client ( Bitcoin Core ), then you are running a wallet, but may not even know it. In addition to relaying transactions on the network, this software also enables you to create a bitcoin address for sending and receiving the virtual currency, and to store the private key for it. There are other desktop wallets too, all with different features. MultiBit  runs on Windows, Mac OSX, and Linux. Hive is an OS X-based wallet with some unique features, including an app store that connects directly to bitcoin services. Some desktop wallets are tailored for enhanced security: Armory falls into this category. Others focus on anonymity: DarkWallet – uses a lightweight browser plug-in to provide services including coin ‘mixing Continue reading >>

Here's How To Deal With Those Ridiculously High Bitcoin Transaction Fees

Here's How To Deal With Those Ridiculously High Bitcoin Transaction Fees

Here's how to deal with those ridiculously high Bitcoin transaction fees A Bitcoin logo is seen inside a sushi restaurant in central Tokyo, Japan. But that sushi might cost you a hefty sum in transaction fees. Image: FRANCK ROBICHON/EPA/REX/Shutterstock Four dollars. That's how much it'd cost me to send 0.01 bitcoins, or about $42, from one Bitcoin address to another right now. And this is actually quite cheap compared to a few days ago, when transaction fees were even higher, making Bitcoin barely usable for microtransactions. And cheap transactions, especially for small amounts of BTC, are supposedly one of Bitcoin's biggest advantages. SEE ALSO: Yes, you can now tip strippers with Bitcoin The transaction fees are raging due to several factors. One is the size of the block in Bitcoin's blockchain, which is limiting the number of transactions that can go through at any given time. Bitcoin's network is powered by miners, people and companies who use a tremendous amount of computing power to create new bitcoins. And when there's too many transactions to processwhich currently happens very oftenminers will prioritize transactions that pay a higher fee. The situation improved with the recent SegWit upgrade of the Bitcoin software, but it will take a whileweeks or monthsbefore users start seeing benefits of SegWit. The average #Bitcoin transaction fee nears $7! pic.twitter.com/UIP7p9PX8Z Blockchair (@Blockchair) August 23, 2017 Another reason is Bitcoin Cash, a competing cryptocurrency that split off from Bitcoin on August 1. Since the two cryptocurrencies are similar, it's simple for miners to switch from mining Bitcoin to Bitcoin Cash. And for reasons explained here , sometimes it's more profitable to mine Bitcoin Cash than Bitcoin. Whenever miners start switching to Bit Continue reading >>

Blockchain - Using Your Blockchain Wallet

Blockchain - Using Your Blockchain Wallet

What you need to know to start using your Blockchain wallet To log into your wallet you need your Wallet ID, your password, and any two-step verification that you have enabled. Your Wallet ID is a string of random letters and numbers that acts as a username. You can find it by navigating to the Wallet Information section of your Settings menu. Although it looks similar to an address, your Wallet ID cannot be used to send or request bitcoin or ether. You will always be able to see your bitcoin & ether balances at the top of your wallet and on your dashboard. Want to see your balance in your chosen currency instead? Click on your bitcoin or ether value and it will display the fiat currency equivalent. To send bitcoin or ether from your wallet, you need the recipient's receive address or QR code. To request, you can share your address or QR code with the sender. Note: your bitcoin address will change each time you request but your ether address will stay the same. Your home screen will display your most recent transactions, and you can find your full transaction feed by clicking on the corresponding asset in your wallets menu. What do I need to create a Blockchain Wallet? + Creating a free Blockchain Wallet is quick and easy. All you need is a valid email address and a secure password. What is an address? + Addresses are strings of letters and numbers, that are used to send you bitcoin or ether. For increased privacy, a new bitcoin address is generated for every transaction. Find the address for your next transaction by clicking receive in your wallet. Are there fees? + Yes. Transaction fees cover the mining network fees and the Blockchain infrastructure necessary to ensure fast and reliable transaction confirmation times. Miners prioritize transactions based on fees, so Continue reading >>

Transferring Balances Between Wallets Within Bittrex?

Transferring Balances Between Wallets Within Bittrex?

Transferring balances between wallets within Bittrex? Transferring balances between wallets within Bittrex I have a question and I was wondering if anyone here may have experience with an answer, I have been hesitant to even try the experiment without at least throwing it out to see if an answer is available.Say my son has some of my money in his bank account, if he were to make a Bitcoin purchase from Bittrex and have those Bitcoin made available to him in his wallet, would he then be able to transfer that available Bitcoin to MY wallet within the exchange ?.Would Bittrex charge fees for this if it was even possible since it is not really a withdrawl as it never left the confines of the exchange, and certainly there should be no mining fees as it doesnt really need to be integrated into the blockchain as a new transaction, ( or does it ),it is simply one individual lending funds to another within the exchange.Like it would be the same for any of us that have an account with Bittrex, could any of us lend someone else a FIVER just in case we ever felt like lending somebody some juice to get them through a spot.Or, could he transfer to me within the confines of the exchange any alt coin he posses so in the event the holding goes hot, when he is working I would be able to execute the trade in his stead, on his behalf.I know you can set the sell order to take of business automatically, but have you ever seen that overnight or something the 24 hour high went to .XXXX3100 and you had the sell set at .XXXX3134and did that make you happy, because you are now holding that purchase until the SWARM comes back to feed ?, due to the inherent nature of the cyclical process of the markets themselves.I mean sometimes that circus turns into something that looks like a baitball getting Continue reading >>

Five Ways To Lose Money With Bitcoin Change Addresses

Five Ways To Lose Money With Bitcoin Change Addresses

Five Ways to Lose Money with Bitcoin Change Addresses Bitcoin can be coldly unforgiving of mistakes, and nowhere is this better demonstrated than with change addresses. Although change addresses provide a key privacy tool, they can also lead to confusion, loss, or theft when not understood. This article explains how to safely use one of Bitcoins least understood features. It ends with a list of common pitfalls and ways to avoid them. This article was first published in March 2014. Since then, wallet software has improved, eliminating some of the threats described below. Specifically cases (1) and (4) should only be encountered when using older, unsupported software. Imagine paying for groceries with a debit card. The checker totals the amount due and you swipe your card as usual. However, you notice the payment terminal is asking for all of the money in your account. The checker smiles, explaining that this is part of your banks new rewards program. You have three options: (1) send the change back to your current account; (2) send the change to a newly-created bank account; or (3) say nothing and send the change to the payment terminal company. Counterintuitive? Confusing? Alarming? Many Bitcoin users are surprised to find eerie similarities between this diabolical debit card and the way transactions seem to work. Thinking about Bitcoin in terms of past experiences with online banking and debit cards can lead to problems. Fortunately, an older payment method offers better insights into how Bitcoin works and why. The similarities between Bitcoin and cash run deep. In his whitepaper , Satoshi Nakamoto even described Bitcoin as an electronic cash system. Understanding the close connection between Bitcoin and cash is the key to understanding change addresses. Imagine needi Continue reading >>

How Easy Is It To Transfer Bitcoin Between Wallets? : Bitcoin

How Easy Is It To Transfer Bitcoin Between Wallets? : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

How To Send Bitcoins

How To Send Bitcoins

Three Parts: Sending Bitcoins to Another User Setting Up Your Bitcoin Wallet Collecting Bitcoins to Use In a Transaction Community Q&A Bitcoins are a type of digital currency used in a peer-to-peer payment system. They are created as users record and verify payments for a transaction fee. However, bitcoins are not backed by gold or paper currency, and are therefore valueless unless you sell them, convert them to normal currency, or use them to buy a product or service. [1] Before you can conduct a transaction and send bitcoins to someone else, you'll need to choose and set up a Bitcoin wallet and accrue bitcoins by either receiving them from someone else, buying them , or mining for new bitcoins. Send money with a software wallet. Though the process of sending money with a software wallet may vary from one platform to another, the steps should follow the same basic procedure. It will generally be very similar to sending money through an online checking account. [2] Open your software wallet and click on the "Send" tab, or use the "Trade|Send Bitcoin" option under your wallet's menu. Type in the destination address for your intended recipient's wallet. You can type it by hand, copy and paste it from your system clipboard, or drag and drop the recipient's QR code. Choose a label so that you can track your bitcoin transaction. Type in the value you want transferred in the "BTC" box. Review the details to ensure that you have entered the correct information. Once completed, the transfer is not reversible. It can take around one hour for the transaction to be confirmed by the Bitcoin network, but you and the recipient will instantly be able to see that the transaction was completed. [3] Use a paper wallet to send bitcoins. If you're using a paper wallet, you'll need to acce Continue reading >>

Must I Pay Tax This Year If I Transfer Bitcoin From Coinbase To A Hardware Wallet If I Do Not Spend Any Of The Money?

Must I Pay Tax This Year If I Transfer Bitcoin From Coinbase To A Hardware Wallet If I Do Not Spend Any Of The Money?

"In 2014, the IRS issued a notice clarifying that it treats digital currencies such as Bitcoin as capital assets and are therefore subject to capital gains taxes. The notice provides that virtual currency is treated as property for U.S. federal tax purposes, it reads. General tax principles that apply to property transactions apply to transactions using virtual currency. The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer. Thus, not every transfer of funds is considered a sale. For the user, sending bitcoins from a Coinbase account to their Trezor hardware wallet, for example, is only a transfer and not a sale since the user is still in possession of the coins. You should keep your own records for best results and update the report accordingly, Coinbase support explains. For example, if you transfer funds offsite to a desktop wallet, and then back again, you would not count this as a sale of digital currency. Continue reading >>

How Do I Send Bitcoin Or Ethereum?

How Do I Send Bitcoin Or Ethereum?

Once you have digital currency such as Bitcoin or Ethereum in your Luno wallet, you can easily send it to others. There are three ways to send digital currencies using Luno: Sending it to someone's email address or mobile number (Bitcoin only) Sending to a wallet address, email address or mobile number Select which digital currency you want to send (Bitcoin or Ethereum) Enter the wallet address, email or mobile number to which you want to send Review the transaction, enter your PIN or two-factor authentication code (if necessary, depending on your device and settings) and confirm You can see your transaction history by navigating to MENU Transactions. The recipient's wallet might take a while to show the transaction Sending Bitcoin to someone with a Luno wallet using their email address or mobile number makes the transaction instant and free (if they dont have a Luno account, theyll be asked to create one) For security reasons, amounts exceeding 10 BTC or 20 ETH arent sent immediately. See the manual send schedule to see when your transfer will be completed. This is a convenient way to pay using your Luno wallet, without the need to enter the recipient's wallet address. Its ideal when sending from a mobile device using the Luno mobile app. Review the details and confirm the transaction What are the fees for sending Bitcoin and Ethereum? There is a dynamic fee when you send Bitcoin or Ethereum, which is based on the blockchain network activity at that time. Well display it to you before you confirm the send transaction. Weve published a blog article in which we discuss the reasons behind our fee structure. More information about send fees can be found here . Remember, sending Bitcoin to an email address or mobile number is instant and free. Continue reading >>

Coinbase | How Do I Send Digital Currency To Anothe...

Coinbase | How Do I Send Digital Currency To Anothe...

Confirm the details of the transaction and complete the send Tap the menu icon near the top left of the screen to open the Navbar. Select the wallet you wish to send from, located in the Navbar. Tap the paper airplane icon in the upper right hand of the screen. Enter the amount you wish to send. (Tap the up/down arrows to switch between currencies.) Enter the email or wallet address and any notes you wish to include. Review the details of your transaction and tap 'Send'in the upper right corner of the screen. Enter the desired amount and press 'Continue' Review the details of your transaction and tap 'Send'in the upper right corner of the screen. Tap the menu icon near the top left of the screen to open the Navbar. Select the wallet you wish to sendfrom, located in the Navbar. Tap the '+' icon nearthe lower right hand of the screen. Enter theamount you wish to send.(Tap the up/down arrows to switch between currency selection.) Enter the email or wallet address and any notes you wish to include. Review the details of your transaction and tap the "forward" arrowin the upper right corner of the screen. Enter the desired amountand press 'Continue' Review the details of your transaction and tap the 'forward'arrowin the upper right corner of the screen. Still can't find what you're looking for? Continue reading >>

How To Use A Bitcoin Wallet (for Newbies)

How To Use A Bitcoin Wallet (for Newbies)

How to use a Bitcoin wallet (for newbies) This page aims to be the best resource for new users to understand how Bitcoin wallets work, and how to use them. To use Bitcoin, some sort of wallet is needed. There are several wallet programs from you to choose from, as well as a web wallet called My Wallet . Here is a full list of Bitcoin wallets . Before proceeding, you should make sure your computer system is secure . The following demonstrates how to use My Wallet, but most of it applies to any other client you choose. Note - there is no "reset your password" feature. You must not lose your password. Recommended: Associate an email address with the account, for backup purposes. You now have a Bitcoin Address , which you can use to receive payments - just email your address to another person, and he can send money directly to this address. Note - anyone who knows your address might be able to analyze your transactions and estimate how much Bitcoins you own. Understand that Bitcoin is pseudonymous , not anonymous. Understand that your wallet can contain numerous bitcoin addresses. It is a good practice to generate a new receiving address for each incoming transaction, to increase anonymity. You can now get some Bitcoins ... for free . Make sure to test it, try sending a few (milli)bitcoins to someone and get the hang of it. If you want to own some more Bitcoins, proceed to Buying Bitcoins (the newbie version) The other clients are similar in principle to My Wallet, but there are a few important differences: You need to download a software to your computer to use them (make sure to only download form a trusted source ... if unsure, ask) Continue reading >>

How To Setup Bitcoin Cold Storage

How To Setup Bitcoin Cold Storage

In this guide we will walk you through setting up your very own cold storage wallet. Before diving into the process, you may be wondering what is cold storage? In simple terms, cold storage refers to keeping your bitcoin completely offline. Cold storage, also known as a cold storage wallet, is the opposite of a hot wallet where your bitcoin is kept online. Since Bitcoin is a digital asset, keeping them online increases your risk or attack surface for having your bitcoin stolen when kept online using a custodialservice. By keeping your bitcoin in cold storage , your attack surface is greatly diminished. The first step to getting your bitcoin into cold storage is creating an offline Bitcoin address. This address will have both a public and private key-pair which never goes online (until youre ready to spend it). With this guide, we will show you how to make a free cold storage wallet using the paper wallet method. Setting up your cold storage paper wallet is fairly simple and requires very little technical knowledge. The first step will be to go to the Bitcoin.com paper wallet tool here . Before doing anything else, while on this page you will want to save it locally to your computer. To save a web page to your local machine, press Ctrl-S and save the file as a complete webpage (to your desktop for example). After saving, simply close out the open Bitcoin.com paper wallet tool page. Then disconnect your computer from the internet; dont worry, you only need it offline temporarily for this task. After disconnecting from the internet, open the saved file (on your desktop). Move your mouse around on the page and/or type some random characters into the text box to create extra entropy (randomness). By doing this, you create a random Bitcoin address that has both a public and Continue reading >>

Exchanges - Transferring Bitcoins From Wallet To Wallet - Bitcoin Stack Exchange

Exchanges - Transferring Bitcoins From Wallet To Wallet - Bitcoin Stack Exchange

Transferring Bitcoins from Wallet to Wallet Say I buy a Bitcoin from a specific market, like BTC-e, and it goes into my wallet. Is it possible for me to transfer that Bitcoin from its current wallet (BTC-e) into a wallet that I have on another market, like LocalBitcoins? If so, how can I do that and is there a fee? Also, do all markets (BTC-e, LocalBitcoins, etc.) allow you to withdraw a Bitcoin from your wallet and exchange it for cash? You are asking mostly about how to send and receive bitcoins. All the sites you talked about have a deposit and withdraw feature that allows you to send to addresses or receive. John T Jan 23 '14 at 6:53 1) The exchange that has your bitcoin should have the option to withdraw bitcoins. It will then ask you to what bitcoin address you want to withdraw and how much. 2) The exchange you want to transfer the bitcoin to should have the option to deposit bitcoins, which will give you a bitcoin address to transfer to. 3) You can then directly withdraw your bitcoins to your deposit address. 4) Almost always these kinds of withdrawals and deposits are free except for the miner's fee, which will usually be BTC 0.0001. 5) No, exchange for cash is not always supported. I don't think a lot of exchanges would support this at all actually (unless by cash you also mean bank transfers?) Continue reading >>

How To Move Your Bitcoin Off Exchanges Like Coinbase And Why You Definitely Should

How To Move Your Bitcoin Off Exchanges Like Coinbase And Why You Definitely Should

How to move your Bitcoin off exchanges like Coinbase and why you definitely should The most common question Im asked at the moment seems to be about taking Bitcoin investments off exchanges such as Coinbase and server-based wallets such as blockchain.info. How to do this is very simple, and this post will give you a step-by-step guide. Why you should do this is also simple, but can very quickly get you into a complex discussion and youve probably not got time to go into that much detail, so Ill give you the why in terms of what you need to know. Step 1: Get a wallet to move your Bitcoin to. Breadwallet, Airbitz, Electrum, Mycelium. Dont worry about which is the best; theyre all more than good enough and you can always change your mind later. Once youve installed it, go to its Receive screen where youll find an address to send to. You can do this by either scanning your chosen walletsQR code, or pasting it in Coinbase, as shown below. Yes, youll have to pay a transaction fee. Yes, this will be quite high at the moment. Yes, this sucks. The community is working on it, which is part of the reason for the turmoil at the moment. Your transaction will be sent to the Bitcoin network and you should be notified almost immediately on your mobile wallet. The transaction will need to be verified by miners and added to the Bitcoin blockchain and before too long you will see confirmations for your transactions. Youre now in charge of your Bitcoin and youll need a bit of common sense and vigilance to keep it safe. The wallet will give you a mnemonic seed a sequence of random words. You need to write this down and keep it, preferably in multiple places. If you lose your phone, you will have lost all your Bitcoin, but with the seed you can easily recreate your wallet on a new phone. Re Continue reading >>

How Do I Transfer Funds Between My Wallets?

How Do I Transfer Funds Between My Wallets?

Please log in and visit your Manage Wallets page. Through the wallets page, you will be able to visualize your various balances across all assets. Total/Available refers to your total balance of the currency and the available amount of that total depending upon your active limit orders, open positions, and unused or active margin funding. To increase the available balance, you can cancel limit orders or reduce/close your positions. Type in the amount you would like to transfer in the "Amount" box.* In the second box, make sure the currency you wish to transfer is selected. In the third box, make sure the wallet you wish to transfer from is selected. In the fourth box, make sure the wallet you wish to transfer to is selected. *You can perform a shortcut by clicking on the "Available" balance under the wallet you're wanting to transfer funds out of. This will automatically input the total available balance in the AMOUNT field and select the correct currency and wallet its in for you. You would then select the wallet you want to transfer funds to in the fourth box. Transferring funds between your Bitfinex account wallets is free and performed instantly. Continue reading >>

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