Now that you know how to send bitcoin to other people once you know their Bitcoin address, what about figuring out how to get your Bitcoin address so others can send bitcoin to you? If you want to be paid for goods and services it’s best to know how to receive bitcoin for them. The good news is that it’s not really any more difficult than sending bitcoin.
First let’s look at how you request bitcoin using Coinbase. From the main screen go to Send/Request just like you did when you were sending bitcoin. At the top you’ll have a tab for each and, again, you’ll be on Send automatically. Click on Request. Put in the email address of the person from whom you’re trying to request bitcoin. Put in the amount of funds you wish to request, either in Bitcoin or US Dollars by switching the dropdown menu on the right. Because you put in an amount the link generated and the QR code generated will automatically tell the person’s Bitcoin wallet to send that specific amount. Select the account to which you wish the funds to be deposited. You can write a note in the box if you wish. Finally, click Request Funds. That’s all it takes. On the next page you’ll see that your request was sent.
The person to whom you sent the request will receive an email. In that email will be a notification that you have requested bitcoin and how much you’ve requested. There will be a link for them to follow to complete the payment.
The link in the email will bring the person to a page dynamically created for you by Coinbase. It will contain your name and a choice of either using their own Coinbase wallet to complete the transaction or their choice of Bitcoin wallet. Default is to use their choice of Bitcoin wallet and the provided QR code or Bitcoin address to complete the transaction, but they can choose Coinbase Wallet and log in. If they scan the barcode provided it will automatically put your Bitcoin address and the amount you requested into their Bitcoin wallet. Or they can input your address manually along with the amount you requested manually. The Copy Address link at the bottom helps with this.
Uphold doesn’t have a request feature like the ones I’ve described above for Coinbase. So, what do I do in that case, you may ask? In that case, you simply send that person a Bitcoin address you control. They will be able to input that address the same way you entered in an address in the last tutorial. You just need to know where to find an address. But before we get to that, it’s time for another short lesson.
Bitcoin addresses, as long as you hold the keys to them, are reusable. But this is a practice that is highly discouraged for at least two major reasons. The first is security. If you use an address to collect funds, then move those funds, the keys to do so were exposed to the Internet. It’s like putting your password into a computer you don’t trust. If malware of any kind is present it’s possible for your keys to be stolen. The second is privacy. If you use an address to collect funds and you always use that same address someone could use that address to see all the transactions you’ve made in connection with that address. Again, I’ll go into this more in detail in the Education section.
If you’re using Coinbase to receive funds they will generate a new address for you every time you request it and attach that address to your account. This makes it simple to get new ones whenever you need them.
In Coinbase on the main screen the link is right at the top underneath your name. Click where it says Wallet Address. You’ll get a little pop-up with a fresh address and a QR code. You can either copy the address and send it to someone or show them the QR code.
They can use that information to send you Bitcoin.
You can either copy the address and send it to someone or show them the QR code. They can use that information to send you bitcoin.
And that’s it! These are two ways to provide information to someone who wants to send you bitcoin. There are fancier ways out there, but for now these will allow you to get started. You should be able to buy, sell, send, and receive bitcoin without any trouble. And, with that, you have successfully completed the beginner section of tutorials. You now have what you need to start using bitcoin. My next tutorial will be a little more advanced. I will begin discussing controlling your own keys.