Receiving or sending cryptocurrency can be done only if you have cryptocurrency wallet.
Then after, you have to put in public address of your recipient or you as the sender. The entire process will vary slightly between digital wallets that are using.
This is due to the fact that every coin has its set of wallet options to which cryptocurrency could be stored. Generally speaking though, when performing sending or receiving of cryptocurrencies, the steps below are what would be applied.
- Login to your digital wallet
- Head over to send/receive screen
- Pick the transaction you want to do. Pro tip: Receive and send like-coins only. So you can receive/send Litecoin to Litecoin, Bitcoin to Bitcoin, Ethereum to Ethereum. You get the point.
- For Sending: When sending coins, put the public address of recipient. Enter the amount you desire to send and make it a point to account for the transaction fees. You need to have enough coins to pay for the fee. After confirming the figures, double check everything to avoid mistakes. Verify transactions for the last time before hitting the send button.
- For Receiving: Basically, receiving coins is a lot easier than sending. There’s actually nothing you need to do except the fact that you have to share your wallet’s address with the sender. If you are doing it in person, simply have them scan the QR code of your digital wallet.