How to Send Crypto? | Crowdswap 2022 — CrowdSwap

You can send crypto to family, friends, or complete business transactions in simple and easy to follow steps. As a form of digital currency, crypto makes it convenient to initiate and complete a transaction from anywhere around the world. The limitations and boundaries of the past are no longer a barrier as you transfer crypto across borders and complete your transactions in a secure online environment. This means that you can now send crypto as easy as it is to send an email without revealing your personal information in the process. In order to fully tap into the potential benefits linked to the use of crypto as a digital currency, it is important to familiarise yourself with sending crypto from your wallet to others in the same crypto network.

To successfully transfer crypto, both you and your recipient need to have crypto wallets, which are secure addresses for storing the received crypto. The wallet address is usually made up of several characters that might be difficult to memorize. But there is no need to worry as you can scan the crypto wallet address as a QR code. Despite the high level of security associated with crypto as a digital currency, you still have the responsibility of taking additional measures to protect your digital assets.

The following are the steps to follow when sending crypto to another crypto wallet.

1. Log in to your crypto wallet

2. Enter the recipient’s wallet address

3. Enter the amount to send

If you are just getting started on how to send crypto, it is important to check whether you are sending in crypto or fiat amounts. For example, $2 USD is significantly different from 2 Bitcoin and has an impact on the fees charged for your transaction.

The intensity of DeFi activity on a network such as Ethereum influences the amount of gas fee paid to complete the transaction. An example is in sending a specific amount of DAI to another user in the same network. The amount of fee charged for transactions carried over a network are used to ensure that the network resources perform at an optimal level.

4. Verify and send

The process of sending crypto might seem difficult at first but proves efficient once you get familiar yourself with the process. To familiarise with the process, you might set up multiple crypto wallets for practice. Sending crypto between the wallets you have opened will help you get the swing of it. You will also have the opportunity to learn the process without the fear of losing crypto through avoidable mistakes.

Once you send crypto to the intended recipient, confirmation for the transaction usually occurs instantly but might take a few minutes as the transaction is included in a block. In addition to the short time taken to complete the transaction, the security of the transaction grows as the number of consequent transactions grows on the network.

An important point to note with aspects such as the estimation of gas fee is that it is a work in progress and will improve with time.

The possibility of using special tools such as CrowdSwap makes the process of managing your crypto wallets an efficient one. It is a tool built on the need to increase efficiency as you manage multiple crypto wallets. In this case, CrowdSwap’s wallet manager enables you to manage crypto wallets in different networks, while eliminating the complexity involved in monitoring each network.

Overall, the process of sending crypto from one crypto wallet to another is efficient and offers numerous benefits compared to using non-digital currency. The sender and recipient enjoy high levels of security as the details of their transaction are recorded in an online ledger. The stability of crypto such as DAI makes it possible to carry out transactions in an efficient way. As the Blockchain networks continue to improve, users will have increased opportunities to send crypto at affordable fees. The integration of useful and upcoming tools such as CrowdSwap’s wallet manager increases the power and usability of sending crypto from one user to the other in a network. The use of such tools will enable you to use the best route that gives the best pricing for sending crypto from one wallet to another.

Originally published at https://crowdswap.org on January 19, 2022.

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