How to make Bitcoin transactions

How to make Bitcoin transactions

To show how Bitcoin exchanges work, let’s think of two different situations. First, you take bitcoins from Binance. Second, you move money from your TrustWallet to your Electrum wallet.

How to withdraw Bitcoins from Binance

1. Go to your Binance account and log in. If you don’t have a Bitcoin yet, read our guide to how to buy one.  

2. Hover over Wallet and click  Spot Wallet.

3. Select “Withdraw” in the left menu.  

4. Select the coin you want to receive, in this case, BTC.  

5. Copy the address you want to send bitcoins to and paste it into the BTC Recipient Address field.  

6. Tell them how much you want to shoot.   

7. Click Submit. 

8. You will quickly obtain an affirmation SMS.  Make sure you take care of it. If yes, please email to confirm your purchase.  

9. Wait for the blockchain to process your trade. You can test the improvement in the Deposit and Withdrawal History tab or in the Block Explorer.

How to send Bitcoins from Trust Wallet to Electrum

In this case, we’ll move some bitcoins from Trust Wallet to Electrum.

1. Start the app Trust Wallet.

2. Click on your Bitcoin account.

3. Touch “Send.”

4. Open up your Electrum wallet.

5. In Electrum, click the Receive tab and copy the address.

 

Alternatively, you can return to Trust Wallet and tap the [–] icon to test the QR code pointing to your Electrum address.

6. Paste your Bitcoin address into the Recipient recipient’s address in Trust Wallet.

7. Tell me how much.

8. Confirm the deal if everything looks right.

9. You’re done! Wait for the blockchain to confirm your exchange. Copy your address into a block explorer to check on its state.

Looking to get started with cryptocurrency? Buy Bitcoin on Binance!

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