Last Updated: March 2026
Sending and receiving cryptocurrency is one of the most fundamental skills in crypto—and one of the most nerve-wracking for beginners. One wrong move (wrong address, wrong network) and your funds could be lost forever. This guide walks you through the process safely.
How to Receive Crypto
- Open your wallet (exchange account, MetaMask, hardware wallet). See wallet guide
- Select the cryptocurrency you want to receive (BTC, ETH, SOL, etc.)
- Select the correct network: This is critical. ETH can be on Ethereum mainnet, Arbitrum, Base, etc. BTC is only on the Bitcoin network. Sending to the wrong network = lost funds
- Copy your receive address: A long string of letters and numbers (or scan the QR code)
- Share the address with the sender. Double-check it matches
- Wait for confirmations: Bitcoin: 10-60 minutes. Ethereum: 1-5 minutes. Solana: seconds
How to Send Crypto
- Open your wallet and select “Send”
- Select the cryptocurrency and network: Must match the recipient’s network
- Paste the recipient’s address: Never type manually—always copy/paste. Then verify the first and last 4 characters match
- Enter the amount
- Review everything: Correct address? Correct network? Correct amount? Sufficient balance for gas fees? See gas guide
- Send a test transaction first: For large amounts, send a small test ($5-$10) to verify the address is correct before sending the full amount
- Confirm and wait for network confirmation
Critical Safety Rules
- Always send a test transaction for large amounts. The small gas fee is worth the peace of mind
- Verify the network matches: Sending USDC on Ethereum to a Solana address = lost forever
- Watch for clipboard malware: Malware can replace copied addresses. Always verify. See security guide
- Use address whitelisting: On exchanges, whitelist frequently-used addresses to prevent mistakes
- Double-check everything: Crypto transactions are irreversible. There’s no “undo” button
Common Mistakes
- Wrong network: Sending tokens on the wrong blockchain (e.g., ERC-20 USDC to a BEP-20 address). Sometimes recoverable, often not
- Wrong address: Sending to a mistyped or scammer’s address. Unrecoverable
- Insufficient gas: Not having enough native token (ETH, SOL) to pay the transaction fee. Transaction fails but gas may still be charged
- Memo/tag missing: Some exchanges require a memo or destination tag for certain coins (XRP, ATOM). Without it, funds may be lost
Sending Between Exchanges and Wallets
- Exchange to wallet: Withdraw from exchange, paste your wallet address. See exchange guide
- Wallet to exchange: Send from wallet to exchange deposit address. Include memo/tag if required
- Exchange to exchange: Withdraw from one, deposit to another. Use the correct network for lowest fees
- Layer 2 transfers: Some exchanges support direct L2 withdrawals (cheaper). See L2 guide
Frequently Asked Questions
Can I reverse a crypto transaction?
No. Blockchain transactions are irreversible by design. This is why verification before sending is essential. If you sent to the wrong address, those funds are gone.
How long does a crypto transfer take?
Bitcoin: 10-60 minutes. Ethereum: 1-15 minutes. Solana: 1-5 seconds. Layer 2s: 1-30 seconds. Exchange withdrawal processing may add additional time.
What are the fees for sending crypto?
Depends on the network. Bitcoin: $0.50-$5+. Ethereum: $1-$20+. Solana: $0.001. Layer 2s: $0.01-$0.10. See gas fees explained.
