With a Coinbase account you will be able to send and receive Bitcoin. Bitcoin is an alternative way to make payments online without having to use cash, debit cards, or credit cards. How Bitcoin get’s sent and received is from the use of digital wallets. Each digital wallet comes with a unique address.
This is what a Bitcoin address looks like: 1PcXTVRnkjSZDJDC2aDLGmLps8HxFsgUNH
When you are receiving payments, you will provide the service (where you will receive the money from) with your Bitcoin Wallet Address. Likewise, when sending or making a payment, you will use the companies Bitcoin Wallet Address to send them funds from your Coinbase account.
Sending Bitcoin
1) In your Coinbase dashboard, at the top navigation, click on Accounts.
2) You will be taken to a page that lists all of your available wallets.
3) Scroll down until you see BTC Wallet, then click on Send.
4) A popup window will open, in the Recipient field, enter the BTC address to where you will be sending the funds to.
5) Enter the amount you want to send in the currency field.
6) Click continue to send off those funds to the recipient.
Bitcoin transactions could take anywhere from 1 to 60 minutes. Transactions usually get completed after 3 confirmations on the Blockchain.
Receiving Bitcoin
1) In your Coinbase dashboard, at the top navigation, click on Accounts.
2) You will be taken to a page that lists all of your available wallets.
3) Scroll down until you see BTC Wallet, then click on Receive.
4) From the Popup, copy your Wallet Address and paste it into the company or vendors withdrawal field.
When the company or vendor sends you a payment, Coinbase usually approves the transaction after 3 confirmations. This can take anywhere from 1 to 60 minutes. Once the funds have reached your account, you will receive an email confirmation.
Overview
Sending and receiving Bitcoin with Coinbase is a simple step process. The only time consuming part of the whole process if the network confirmations. Other than that, use these steps to send and receive Bitcoin to make payments online or to accept payments from services rendered or from family and friends.
