Sending bitcoin to another wallet takes just a few steps: get the recipient’s wallet address, enter the amount, choose a fee, and confirm. The whole process usually takes under a minute on your end, though the Bitcoin network needs additional time to verify the transaction. Here’s how to do it safely, what it costs, and what to watch out for.
What You Need Before You Start
You need two things: a wallet (or exchange account) that holds bitcoin, and the recipient’s Bitcoin address. A Bitcoin address is a string of letters and numbers, typically starting with 1, 3, or bc1, that functions like an account number. The recipient generates this address from their own wallet and shares it with you, either as text or a scannable QR code.
If you’re sending from a cryptocurrency exchange rather than a personal wallet, make sure you’ve completed the platform’s identity verification. Most exchanges also require two-factor authentication (2FA) before they allow withdrawals, meaning you’ll need an authenticator app, SMS code, or hardware security key set up on your account before you can send anything out.
Step-by-Step: Sending Bitcoin
1. Get the Recipient’s Address
Ask the recipient to open their wallet and copy their Bitcoin receiving address. If you’re both in the same room, scanning a QR code is the fastest and safest method because it eliminates typos entirely. If you’re doing this remotely, have them send the address digitally so you can copy and paste it. Never type a Bitcoin address by hand. One wrong character can send your funds to the wrong place, and Bitcoin transactions cannot be reversed.
2. Open Your Wallet and Start a Send
In your wallet app or exchange account, look for a “Send” button. You’ll see two fields: the recipient’s address and the amount of bitcoin you want to send. Paste the address you copied, then enter the amount in BTC or your local currency, depending on your wallet’s interface.
3. Choose Your Transaction Fee
Your wallet will ask you to select a fee, which determines how quickly miners process your transaction. Most wallets label this as a priority level (low, medium, high) or let you set a custom fee rate measured in satoshis per virtual byte (sat/vB). A satoshi is the smallest unit of bitcoin, one hundred-millionth of a single BTC.
Under normal network conditions, a low-priority fee of around 1 sat/vB costs roughly $0.14 and may confirm by the next day. A medium fee of about 10 sat/vB runs around $1.40 and typically confirms within a few hours. A high-priority fee of 50 sat/vB, approximately $7, usually confirms within 30 minutes. These dollar estimates assume a bitcoin price near $100,000 and will shift as the price moves.
When the network is congested, fees spike. During heavy traffic, you might pay $28 or more to get into the very next block. If you’re not in a rush, selecting a lower fee saves money, but be aware that sudden demand spikes can leave low-fee transactions stuck in the mempool (the waiting area for unconfirmed transactions) for days.
4. Verify and Confirm
Before you hit send, your wallet will show a summary: the recipient address, the amount, and the fee. Check the first and last several characters of the address against what the recipient gave you. Bitcoin wallets have built-in checksum protection that flags clearly invalid addresses, but this safeguard won’t help if you accidentally paste a valid address that belongs to someone else.
Once you confirm, the transaction is broadcast to the Bitcoin network. Miners pick it up, include it in a block, and the recipient’s wallet reflects the incoming funds after at least one confirmation. You can track the transaction’s progress using any blockchain explorer by searching the transaction ID your wallet provides.
Sending From an Exchange
Exchanges add a few extra layers compared to personal wallets. Many platforms support withdrawal address whitelisting, which lets you pre-approve specific destination addresses. Once enabled, your account will block transfers to any address not on your whitelist, protecting you if someone gains access to your login credentials. Some exchanges also impose a cooling-off period of 24 to 48 hours when you add a new withdrawal address, so plan ahead if you’re sending to an address for the first time.
Exchanges may also flag unusual withdrawal patterns and temporarily freeze the transaction until you manually verify it. This can feel inconvenient, but it’s a safety net against unauthorized access. If your exchange offers a settings lock feature that prevents account modifications for a set duration, it’s worth enabling for long-term holdings.
One critical detail when withdrawing from an exchange: select the correct network. Exchanges sometimes offer multiple networks for withdrawals. For a standard bitcoin transfer, choose the Bitcoin network (sometimes labeled BTC or Bitcoin mainnet). Sending bitcoin on an incompatible network can make your funds inaccessible, and recovery is not guaranteed. If the receiving wallet or platform specifies a network, match it exactly.
How to Protect Yourself
The single biggest risk when sending bitcoin is an incorrect address. Transactions are irreversible. Funds sent to the wrong address won’t bounce back, and in many cases they’re permanently lost.
Use QR codes whenever possible. When that’s not an option, copy and paste the address and then visually confirm the first and last several characters match. Even with copy-paste, clipboard malware exists that swaps a copied address for an attacker’s address, so that visual check matters.
For any transfer involving a meaningful amount of money, send a small test transaction first. Transfer a tiny amount, wait for it to confirm, and have the recipient verify the funds arrived and are spendable. Only then should you send the full amount. The extra fee for a test transaction is a small price compared to losing a large transfer.
How Long the Transfer Takes
After you confirm the send, your transaction enters the mempool, where it waits for a miner to include it in a block. Bitcoin blocks are mined roughly every 10 minutes, but your transaction’s place in line depends on the fee you paid relative to other pending transactions.
At a high-priority fee rate, you can expect confirmation within about 30 minutes. Medium-priority transactions typically clear within a few hours. Low-priority sends during quiet periods might confirm in under an hour, but during busy stretches they can sit for a day or longer. Most recipients and platforms consider a transaction settled after one to six confirmations, with each confirmation representing one additional block mined on top of the block containing your transaction.
If your transaction gets stuck, some wallets let you bump the fee after the fact using a feature called replace-by-fee (RBF), which rebroadcasts your transaction with a higher fee to attract miners. Not all wallets support this, so check your wallet’s settings before you send if timing matters to you.
What It Costs
You pay two potential costs: the network fee (paid to miners) and, if you’re sending from an exchange, a platform withdrawal fee. The network fee fluctuates constantly based on demand. During calm periods, you can send bitcoin for well under a dollar. During congestion events, fees can climb to $28, $70, or higher for fast confirmation.
Exchange withdrawal fees vary by platform. Some charge a flat fee per withdrawal, others pass through the network fee with a small markup, and a few cover the network fee entirely for certain account tiers. Check your exchange’s fee schedule before initiating the transfer so you know exactly what you’ll pay on top of the network cost.