How To Send Money To The Bitcoin Wallet
The Send tab is how you send money using Electrum. The screenshot below shows the Send tab:
Let’s look at what the various fields are for:
To send Bitcoin from Coinbase to Your Blockchain.com wallet: Simply visit the dashboard of your Blockchain.com wallet, find and click the “request” button at the top of the page. And how much you wish to send in USD or in BTC, the note is optional. 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. Sending Bitcoin Open your Bitcoin.com wallet app and select Send. Copy and paste the recipient’s wallet address into your own wallet app. Or, if you’re in person, select Scan QR code and simply scan it with your app.
Pay To: In order to pay someone with bitcoin you need their address. The address looks like a random string of characters beginning with 1, 3 or bc1. For example:
Ask the recipient for their bitcoin address, copy it to the clipboard and paste it into the Pay To field on the send tab.
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Addresses are supposed to be single use only so please don’t assume the recipient controls old addresses. Get a fresh address from them for every transaction unless they tell you otherwise.
In some cases when paying merchants on the web you don’t use an address. Instead you click on a link and set that link to open with Electrum. Such links begin with “bitcoin:”. In such cases the Pay To field is automatically populated with the merchant’s name and the amount field is populated with the amount you need to pay the merchant.
The Pay To field is a required field.
Description: You can enter a description here for your own reference. It’ll be displayed on the history tab entry for this transaction. The description is stored in your wallet file only and is not shared with anyone. It is optional.
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Amount: The exact amount the recipient should get. This is required too.
Then you click pay and electrum displays this window:
Bitcoin transactions require a fee that is paid to miners. The fee slider lets you set a fee based on fee market conditions. You can move the fee slider to the left to reduce the fee and to the right to increase the fee. The higher the fee you pay the quicker your transaction will confirm. If you pause your mouse cursor over the fee slider it’ll give you some useful information about the fee rate.
The fee is deducted from the wallet balance so the total amount that is spent is the value you put in the amount field plus the fee. More information about fees is given here.
After you’ve filled out the details please double check them to make sure they are right. Bitcoin transactions are irreversible so if you make a mistake you can’t get your bitcoins back.
Once you are sure everything is correct enter your password and click on the Send button to send the bitcoin. Once it has sent the bitcoins Electrum will display the transaction ID of the payment. You can also find the transaction ID on the history tab by right clicking on the relevant transaction and selecting details.