John Jacques's Avatar
John Jacques
published in Blogs
Feb 10, 2021
How to Transfer Bitcoin – A Step-by-Step Guide

How to Transfer Bitcoin – A Step-by-Step Guide

You’ve set up your bitcoin wallet and have acquired some bitcoins, and now you’re ready to use them – what’s next? Here’s a step-by-step guide to transferring bitcoins from one party to another using a software wallet. 

Step #1: Get the destination wallet address.

This is the place you want to send your coins (or receive them, if someone else is transferring coins to you). You can usually access this from the Receive/Deposit section of the receiving platform you are using. You can even generate new destination wallet addresses for increased privacy, all of which are tied to your account.

Step #2: Make sure the destination address is correct. 

Now that you have the address, copy and paste it to your platform’s Send/Withdraw section. But be VERY careful to double- or triple-check that the address is correct – crypto transactions are irreversible, and a typo almost certainly means permanently losing the bitcoins you were trying to send.

One way to avoid potential slip-ups is to scan a QR code (when available) for the destination address. It’s also helpful to practice the process first from start to finish using a smaller amount before you send over the bulk, so that any mistakes you make will have minimal impact on your (software) wallet.

Step #3: Confirm the transaction.

After you have checked the correct address, hit the confirm/send button to complete the transfer. 

Step #4: Now, you wait.

Bitcoin transaction confirmation times vary based on the number of blocks in the blockchain required for confirmation. Six (6) blocks has been adopted by the Bitcoin community as the standard confirmation period, and an average block typically takes 10 minutes to be confirmed into the blockchain, so an average transaction takes one hour to be finalized.

 

 

Will it always be an hour of wait time?

No. Wait time varies based on many factors – a congested network, varying block confirmations, a server being down for maintenance, and more can affect the time it takes.

I’m concerned about my unconfirmed transaction. Where can I check on it?

You can go to https://blockchain.info/unconfirmed-transactions for a real-time look at how many transactions are waiting to be confirmed.

Can I check the transaction status?

Yes, you can, by inputting the transaction hash or ID (which you received after the transaction was successfully submitted) in your blockchain explorer.You can also use the origin or destination address, but this involves manually locating your transaction within the address.

Are there transaction fees?

Occasionally. It differs based on network congestion and which service you are using to send bitcoins. Sending within an exchange is usually free, but sending between exchanges will often charge a fee.

Check your destination for your updated balance.

Everything looks good? Congratulations – you just transferred your first bitcoins!

Related Tickers: BTC.X
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 07, 2021
4 Tricks Hedge Funds Use to Get Ahead

4 Tricks Hedge Funds Use to Get Ahead

If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.
John Jacques's Avatar
John Jacques
published in Blogs
Mar 22, 2018
A.I. Stock Market Predictions: Head & Shoulders

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I.  Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Jul 10, 2020
3 Stocks to Buy if Coronavirus Second Wave Hits

3 Stocks to Buy if Coronavirus Second Wave Hits

By analyzing market trends from the first wave, you can predict behavior for the second. Technology stocks have performed at historic levels this year, but the market is severely overbought.To compensate for that, look at performance during Q1 and Q2, the height of global Covid shutdowns.
Edward Flores's Avatar
Edward Flores
published in Blogs
Feb 06, 2021
How to Become the Millionaire Next Door

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations.  As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.
Alla Petriaieva's Avatar
Alla Petriaieva
published in Blogs
Feb 23, 2021
Is Ethereum’s Bomb about to Explode?

Is Ethereum’s Bomb about to Explode?

Ethereum’s software is set for an update in October.Until it is finished, participants in the Ethereum blockchain must determine how to delay the difficulty bomb – code that necessitates a steadily increasing amount of computer power to mine blocks and unlock rewards – that is already in place.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Aug 07, 2018
When Is the Next Recession Coming?

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 22, 2020
Central banks have been buying $2.4 billion in assets every hour for the past two months

Central banks have been buying $2.4 billion in assets every hour for the past two months

Some $17.8 billion has been poured into  bond markets over the past week, the biggest move in more than three months.Around $3.5 billion has been invested into gold, the second largest on record. 
Rick Pendergraft's Avatar
Rick Pendergraft
published in Blogs
Feb 07, 2021
Mid-January Short Interest Report Shows 8 Stocks with Good Fundamentals and High Short Interest
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 10, 2021
How to Start Trading Penny Stocks

How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 08, 2020
US unemployment rate jumps to 14.7%, the highest in series history

US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate.  Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.