Even though the entire process is user-friendly and straightforward, receiving bitcoin in the wallet is different. You cannot relate them to receiving money in your bank account or using your debit/credit card to complete the transaction. All it takes is one thorough read, and you will completely understand how to receive bitcoins using bitcoin wallet.
The good thing is that your bitcoin wallet allows receiving bitcoins easily, and you must leverage its functionality to get bitcoins transferred into your account.
Want to Receive Bitcoins? Well, Get a Wallet First…
Before moving on to the ways to receive bitcoin using bitcoin wallet, you must download a good and secure wallet. There are several bitcoin wallets out there you can use for the purpose.
But choose the wallet that is;
- Secure: If you are using a web wallet, make sure it has HTTPS certification. For an application wallet, it must have two-factor enabled encryption. Prefer the ones with multi-signature capability.
- Intuitive: Choose a wallet that is easy to use, and its features are easy to locate. Cluttered and clunky wallets are not easy to operate and make you vulnerable to making mistakes.
- Anonymous and Transparent: Use a wallet that keeps your information hidden from the prying eyes of hackers and attackers. Plus, the entire application or web app must be transparent in its proceedings.
With these attributes, you can choose the best bitcoin for personal and business use.
Two Ways to Receive Bitcoin using Bitcoin Wallet
1. Share Wallet Address
Every bitcoin wallet will provide you with a unique wallet address. This address is connected to your profile you have created in the wallet. After you have created the wallet, you will find the address in the Profile section.
Or you can also access it when you click on “Receive Bitcoin” in the wallet. As every wallet has two options;
- Send Bitcoin
- Receive Bitcoin
Click on Receive Bitcoin and copy the wallet address. Share this address with the person from whom you wish to receive bitcoin. Once the sender will add your wallet address in the designated column on their app, the bitcoins will be sent to your wallet successfully.
2. Use the QR Code
Every bitcoin wallet will provide you with two unique elements; one is the wallet address. The second is the QR code. You can also use this QR code to receive bitcoins using bitcoin wallet.
However, there is a catch here. Not every bitcoin wallet has the option to scan a QR code. So, before sending the QR code to the sender, ask them about the compatibility of the device from where they are sending bitcoins.
If their wallet allows scanning QR code directly or from the phone memory, they can easily send you bitcoins.
This completes our discussion on how to receive bitcoins using bitcoin wallet is a convenient way to deposit bitcoins. Some of the wallets also allow you to convert bitcoin into fiat currency or another cryptocurrency. You have a lot of options when it comes to a wallet to manage and store your bitcoins. Choose the one that satisfies all your needs, is embedded with pertinent security features, and ensures your privacy.