Sending and Receiving Cryptocurrency

In this video, John explains how to use your coinomi wallet to send and receive cryptocurrency.

To receive cryptocurrency you need to give the sender your public address. To do this choose the coin you want to receive in your wallet and click receive. This will give you a public address you can copy and send get to your sender. You can also display a QR code for them to scan.

You can also use one of your public addresses to receive crypto currency from another wallet you control by sending crypto to yourself in this same manner.

Note that once crypto is sent to this address, the next time you click receive a new address will be supplied. This allows for more privacy since on most blockchains the transaction history for a given public address is entirely accessible on the blockchain.

To send cryptocurrency you need to have someone else’s or your own (in the case of moving crypto between wallets you control) public address. Simply choose the crypto you want to use, click send, and enter their public address in the send field. Then click send and enter your encryption password to complete the transaction.

PRO TIP – when copying and pasting a public address, note the first two and the last two letters or numbers so as to ensure what you copied and pasted the entirety of the address.

If you have any issues you can check in on your transaction using a block explorer. You can lookup your transaction using your public address or your transaction ID (txid).

Here is a good block explorer that also allows you to examine the Bitcoin, Bitcoin Cash, and Ethereum blockchains.

Wanna learn the basics of cryptocurrency including how to safely buy, securely hold, and easily transfer your crypto? 

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