How to Send Money Through Bitcoin

Bitcoin has been so much more than a speculative investment for years. It’s been an increasingly payment method among merchants, with over 15,000 businesses worldwide accepting Bitcoin payments. And more users are also using it for remittances, gifts, splitting bills with friends, and more.

But if you’ve never sent crypto payments before, the process can seem intimidating at first. Thankfully, sending money with Bitcoin is easier than it looks. With the right wallet and a basic understanding of how transactions work, you can transfer Bitcoin safely, securely, and often for less than the cost of a bank wire. Let’s discuss.

What You Need Before Sending Bitcoin

Before you can send Bitcoin, you’ll need to have a crypto wallet. It’s at the core of every Bitcoin transaction because it lets you hold, send, and receive crypto. With it, you can access your Bitcoin wallet address, which is comparable to a bank account number, but instead of numbers separated by dashes, it’s a long string of letters and digits. Without this, you can’t send funds.

If you don’t have a crypto wallet yet (or if you need an alternative), Ka.app makes a beginner-friendly choice. It lets you send Bitcoin for free to other Ka.app users within seconds, and also allows you to transfer crypto to external wallets hassle-free.

Understanding Bitcoin Wallet Addresses and QR Codes

As mentioned, every Bitcoin transaction requires a wallet address. These addresses usually start with “1,” “3,” or “bc1,” depending on the format.

However, because these addresses are long strings of characters, mistakes can happen when copying and pasting. That’s why many wallets also provide a QR code. Instead of typing or pasting an address, you can simply scan the QR code with your phone, and the payment details fill in automatically.

One critical note is that Bitcoin is not interchangeable with other cryptocurrencies at the address level. Sending Bitcoin to an Ethereum or Solana address, for example, will result in a permanent loss. Make sure that wallet address matches the network, which means Bitcoin to Bitcoin only.

How to Send Bitcoin: Step-by-Step Guide

There are two ways to send Bitcoin with Ka.app:

To another Ka.app user

1. Download Ka.app from the App Store or Google Play Store.
2. Sign up for an account and complete the Know Your Customer (KYC) check.
3. Log in to your wallet.
4. Tap ‘Send’ from the home screen.
5. Enter the mobile number of the recipient or upload/scan their QR code.
6. Select Bitcoin (BTC).
7. Enter how much Bitcoin you’d like to send.
8. Confirm the transaction.

To an external wallet address

1. Log in to your wallet.
2. Continue to the home screen, and tap the ‘Withdraw’ icon.
3. Get the recipient’s wallet address and paste it on Ka.app.
4. Select Bitcoin (BTC).
5. Enter the amount of Bitcoin you’d like to send.
6. Confirm the transfer.

Fees and Transfer Times for Bitcoin Transactions

On Ka.app, Bitcoin transactions work differently from traditional blockchain transfers because they’re handled through the app’s quick settlement system. That means you don’t have to wait for the Bitcoin network’s unpredictable confirmation times, which can range anywhere from 10 minutes to over an hour depending on congestion. Instead, transfers to other users happen in seconds, more like sending a message than waiting on a blockchain. This makes Ka.app far faster than sending Bitcoin directly on-chain, especially during peak traffic periods when the Bitcoin mempool is clogged.

With regard to fees, Bitcoin transactions often involve fluctuating miner fees (sometimes costing several dollars during high demand). Ka.app sidesteps this issue by allowing you to send to other Ka.app users for free, while transferring coins to an external wallet or exchange only for as low as 0.376% of the transaction amount.

How to Receive Money Through Bitcoin

If someone’s sending you Bitcoin, here’s how can receive it with Ka.app:

1. Log in to your Ka.app account.
2. Once you’re on the home screen, tap ‘Deposit.’
3. Select Bitcoin.
4. Copy the Ka.app wallet address or your QR code.
5. Share the address with the sender. Tell them to use the Polygon network.
6. Wait for the cryptocurrencies to reflect in your Ka.app wallet.

Note: Receiving Bitcoin is free. You don’t pay network fees as the receiver. Only the sender covers the transaction cost.

Tips for Safe and Low-Cost Bitcoin Transfers

Sending Bitcoin is simple, but there are ways to make it safer and more affordable:

1. Double-check addresses. Even one wrong character means the money is gone forever, so always confirm before sending.
2. Use QR codes when possible. They reduce the chance of copying errors.
3. Test with small amounts first. When sending large sums, send a tiny amount first to confirm the address and network.
4. Consider custodial solutions for ease. Apps like Ka.app simplify transfers by removing blockchain errors, letting you send stablecoins instantly while avoiding Bitcoin’s sometimes long confirmation times.

The Bottom Line

Learning how to send money through Bitcoin is like unlocking a global payment tool. With just a crypto wallet and an address, you can move value across borders without banks, middlemen, or currency exchange hurdles. And with Ka.app’s intuitive screens, the process is easy and hassle-free. If you haven’t already, create a Ka.app account today.

FAQs

Do I need a wallet to send Bitcoin?

Yes. A Bitcoin wallet is required to hold and transfer Bitcoin. 

How long does it take for Bitcoin to transfer?

With Ka.app, it takes just a few seconds. But for other platforms, especially exchanges, it may take a couple of minutes, depending on network congestion and the fee you set.

What fees do I pay when sending Bitcoin?

If you’re using Ka.app, sending to other Ka.app users is free. If you’re using an exchange, you’ll most likely pay a network fee, which varies based on congestion. Wallets usually suggest an appropriate fee at the time of sending.

Can I send Bitcoin to someone without a wallet?

No. The recipient must have a Bitcoin wallet and address to receive the coins. Without one, the transaction can’t be completed.

Is it safe to send large amounts of Bitcoin?

Yes, but exercise caution. Always double-check the address and consider testing with a small amount first before sending larger sums.

What happens if I send Bitcoin to the wrong address?

Bitcoin transactions are irreversible. If you send Bitcoin to the wrong address, you will not be able to recover the funds. Always verify before sending.

Do I need an internet connection to send Bitcoin?

Yes, you need an internet connection to broadcast your transaction to the blockchain.