In this post, we will talk about how to receive bitcoin from someone else, how you can receive any cryptocurrency from another person.
From friends and family, those who are in the same country as you, as well as those who are in a foreign country.
It can also be that you want to receive bitcoin from business partners.
Whatever the case is, we will also talk about the information you will need to receive bitcoin or other cryptocurrencies.
This is important because you cannot receive bitcoin if you do not know the information you need to receive bitcoin.
But before we proceed, you should know that your location does not matter when it comes to bitcoin and other cryptocurrency transactions.
This means that if you are in the U.S for example and someone who is in Australia sends bitcoin to you, you will receive it at the same time frame as you received the one sent by someone who is sitting next to you.
[READ: How Long Does it Take for a Bitcoin Transaction to be Confirmed]
What You Need To Receive Bitcoin From Someone
To receive Bitcoin from someone, you will need a bitcoin wallet address because that is what the sender will use to make the transaction, and the easiest way to get a bitcoin wallet address is through a crypto exchange.
A crypto exchange is a platform where you buy, sell, store, trade, send and receive cryptocurrencies like bitcoin, ethereum, and others.
Sadly, there are fraudulent and insecure crypto exchanges out there and you may lose your hard-earned money when you fell into the wrong hands.
Luckily, I have made a list of 5 crypto exchanges you can trust. You can click here to check them out to avoid the same mistake a lot of people made that led to them losing money when the exchanges got hacked or disappeared.
Believe it or not, it is only a reputable crypto exchange that will secure your money.
After you are done with choosing a crypto exchange, after you are done creating an account, then it will be time for you to find your bitcoin wallet address which is what you will send to the person you are receiving bitcoin from.
Find out how to get a Bitcoin wallet address.
How To Find Bitcoin Wallet Address
Generally, finding your bitcoin wallet address is an easy thing to do, log in to your crypto account, depending on the crypto exchange, go to wallets, click ‘Receive or Deposit’, then select bitcoin and your bitcoin wallet address will be the long string of numbers and letters directly below the QR code.
[READ: What Information Do You Need To Send/Receive Bitcoin]
How To Receive Bitcoin From Someone Else
To receive bitcoin from someone all you have to do is, create an account with a crypto exchange as stated, find your bitcoin wallet address, copy the address and send it to the person to whom you are receiving the bitcoin.
That is it. You will find the sent bitcoin in your wallet some minutes after the sender has sent it.
But if you are next to the person sending the bitcoin, the sender can scan your wallet QR code with their device. It is much easier and safer than copying and sending the address to them.
Conclusion
That is how to receive bitcoin from someone, plus the other things that you need before you can receive bitcoin.
Drop a comment below if you have a question.
[READ: 4 Best Websites To Check Current Cryptocurrency Prices]
[READ: 10 Best Cryptocurrency to Buy For Long Term Which I Recommend]
IMPORTANT; you must never send money to anyone you meet online asking to help you invest in cryptocurrency. They are scammers. Crypto is easy, and you can do it all by yourself.
DISCLAIMER:
The information presented here should not be used as the sole basis of any investment decisions, nor should it be construed as financial, tax, legal, or accounting advice. I will also advise that you invest in cryptocurrency only what you are comfortable living without, at least temporarily.