This article has been translated from English to Gen Z Slang.
How do you send bitcoins?
Luckily, sending bitcoin is just as easy as snapping a NSFW selfie—totally no cap. 🤳
To vibe with sending or receiving that juicy bitcoin, you need a “wallet”.
The exact glow-up needed to send bitcoins will depend on your Bitcoin wallet type, but the main key is having the “‘address“‘ of your homie who needs the BTC. 🔥
Basically, an address is like an email where your BTC parties to. 🎉
A Bitcoin address is an alphanumeric string (letters and numbers squad). 🏆
Here's some BTC style inspo for y’all:
- 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF
- 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo
- bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6
A transaction is just you flexing your BTC to a specific address
So all transactions are coupled up with an address like it’s prom night. 💃🕺
How do I send bitcoin?
Here's your no-filter guide to sending that BTC drip:
Step 1: Create a Transaction
Slide into that bitcoin action by copy-pasting your homie's address right into your wallet app. 📲
If you're chillin’ face-to-face, just request their QR code and vibe on. QR code = address in disguise. 🎭
It’ll look something like this:
Then, let your phone's camera vibe with the QR code by scanning it. 📸
Heads up fam: Once those bitcoins dip, they don’t come back. Make sure you’re sending to the right addy or kiss your BTC goodbye! 🥺
After locking in your homie's address, lock in how much BTC you're sending their way.
Make sure the currency game is on point. Don’t wanna send 100 BTC thinking it's USD. Yikes! 💀
Then hit that “Send“. Boom! You just made a transaction happen, congrats! 🎉
Step 2: Sign a Transaction
Now that you’ve birthed this transaction, your wallet's gonna make you seal the deal with a confirm or password request.
Tapping “Confirm” or entering your secret sauce (password) lets your wallet tap into your private key to “sign” the transaction. 💌
Once it’s “signed“, your wallet broadcasts the transaction and its signature to the Bitcoin fam. 🗞️
When you say you’re “sending bitcoin,” you’re really just sending a signed message to the homies on the Bitcoin network, telling them to move stacks of bitcoin from your crib to theirs. 💸
Step 3: Broadcast a Transaction
To throw a transaction out into the interwebs, your wallet gotta chat with the Bitcoin network.
Your wallet ain’t a node itself, it's basically your BFF interface with one.
It'll hop on the internet to link up with a Bitcoin node and throw your transaction their way. If the node’s down with your transaction, it lets other nodes know what’s up. 🔗
After it flys through the network, your transaction shows as “pending“.
Your wallet slides you a DM when your transaction has vibed through and is “confirmed”.
What’s a Bitcoin network fee?
All Bitcoin transactions gotta drop a fee to get their name in the blockchain hall of fame. 📜
We call this the “network fee” or “transaction fee“.
Network fees are just a lil' bread you're throwing to the miners for their hustle on the Bitcoin scene. 💪
Scratching your head thinking "Miners? Like coal miners?" Nah fam, they’re a different squad. Check out my “Beginner’s Guide to Bitcoin Mining” if you’re ready to deep dive. 🕵️♂️
Lots of wallets let you vibe with the customization of your Bitcoin network fee when you’re throwing BTC around.
If you toss more fees, miners put you top tier, and your transaction fits right into the next Bitcoin block club. 🎉If you’re low on time, boost your fee to hurry things along.
If you’re chillin’ on a beach with no rush, cut down on that fee to keep more coin. But set that bad boy too low, and you might be ghosted for hours or even days.
Worst case? You wait 72-hour style, till the party gets canceled. Then your bitcoin boomerangs back to you. 🙃
Most wallet apps pick the network fee automagically for you, sidestepping those awkward long wait times. ⏳
If you want fast tracks under your feet, stick with recommended network fees your wallet suggests.
Typically, a Bitcoin transaction is like making avocado toast—done in 10 minutes to a few hours. 🥑✨
How do I know if a Bitcoin transaction is completed?
If you're curious about your transaction’s journey, you can drop by a “Block Explorer“.
It lets you livestream the BTC blockchain party, watching every transaction like a hawk or like it's Netflix. 📺🍿
Think of a Block Explorer like Google for blockchains. It's the wizard's search bar of transaction patterns.
To stalk your transaction status, pop the recipient’s address or transaction ID into the Block Explorer’s search bar. 🔍
For Bitcoin, fan-fave Block Explorers include Blockchain.com, Block stream Explorer and BlockCypher. 🏆
Many wallets even link you straight to a Block Explorer when you peep your transaction timeline. Clicking the link lets you track the BTC shenanigans on the blockchain like a pro. 🌐✌️