How To Pay Money Into A Bitcoin Account

 
  1. How To Pay Through Bitcoin
  2. How To Send Money With Bitcoin
  3. How To Pay Money Into A Bitcoin Account Sign Up
  4. How To Pay Money Into A Bitcoin Account Permanently
  5. How To Pay Money Into A Bitcoin Account Receivable
  6. How To Put Money Into A Bitcoin Wallet

Bitcoin withdrawals and deposits must be enabled to get started. You can deposit up to $10,000 worth of bitcoin in any 7-day period. Depending on network activity, it can take hours before transfers into or out of your Cash App are confirmed on the blockchain. Cash App only supports Bitcoin (BTC). Open your Bitcoin.com wallet app and select Send. Copy and paste the recipient’s wallet address into your own wallet app. Or, if you’re in person, select Scan QR code and simply scan it with your app. Choose which wallet you want to send Bitcoin from.

A lot of people have gone through our training on how to make their first purchase of Bitcoin, and then how to use that Bitcoin to buy other specific altcoins.

But there is one last piece to this puzzle missing.

And that is how to add Bitcoin to your offline or hardware wallet.

This step is extremely important.

When you first buy any sort of cryptocurrency, you most likely are using an exchange to do so.

BitcoinHow

There are other ways to purchase Bitcoin, like using a Bitcoin ATM machine, but 99% of people will be using an exchange to get their hands on this digital gold.

But there is a risk to this.

The Risk Of Leaving Your Bitcoin On An Exchange

The risk is that you are leaving your Bitcoin open to attacks from hackers and thieves.

What you must understand is that when you sign up to an exchange, your account is associated with cryptocurrency public addresses.

This means that you have your own destination that you can share with others to send and receive Bitcoin and other cryptocurrencies.

How to find your public address is pretty much the same for every exchange, so if you know how to find it on one, you’ll easily be able to find it on any other one.

So, as an example, here is how you find your Bitcoin public address on Binance:

You go to the top right corner and hover over “Funds.”

Then click “Balances”.

This then brings you to a page of all of the cryptocurrencies available for purchase on the exchange.

Assuming we want to know our Bitcoin public address, type in “Bitcoin” in the search bar.

Then click “deposit”.

Here is where your Bitcoin public address is.

If you bought Bitcoin through Binance, this is where your Bitcoin would be sent.

If you also bought Bitcoin on another exchange – let’s say Coinbase – and wanted to send it to Binance so you could purchase another cryptocurrency with it, this is the address you would copy and paste to do so.

But there is a problem with this.

The problem is that you only have access to this address: your PUBLIC address.

But you DO NOT have access to your PRIVATE address.

This is why you NEVER want to leave your cryptocurrencies on ANY exchange.

Think of your private address as the password to your bank account – if someone knows what it is, they can simply login in and drain your account.

I’m not saying that anyone at Binance has access to your private key, but what I AM saying is that your private key is stored online.

And YOU don’t even have access to it.

And this is a huge problem.

You should never store your Bitcoin, altcoins, or any other cryptocurrency in a wallet that stores its private key online.

Especially not an exchange wallet.

So what you have to do is deposit your Bitcoins into an offline (hardware) wallet.

The first step in doing so is to actually get yourself a hardware wallet.

Bitcoin Hardware Wallets That Are Safe To Deposit Your Funds

The 3 most popular, highly-praised hardware wallets in terms of safety in adding Bitcoin to are:

These wallets are top of the line and are the highest-security hardware wallets money can buy.

What Information Do I Need To Add Bitcoin To My Hardware Wallet?

Okay, so now you bought a hardware wallet.

How To Pay Through Bitcoin

Great!

The next step to secure your Bitcoin is to add it to your hardware wallet public address.

How To Send Money With Bitcoin

The wallet that I personally use is the Ledger Nano S.

So I will use this as an example.

How To Pay Money Into A Bitcoin Account Sign Up

Now, before we get into how to actually do this, let’s understand one thing:

Sending and receiving Bitcoin between wallet addresses is universally the same process.

What I mean by this is that depositing your Bitcoin from your Kucoin exchange wallet to your Trezor wallet is the same process as depositing Bitcoin from your Cex.io wallet to your KeepKey wallet, which is the same process as depositing your Bitcoin from your Coinbase wallet to your Ledger Nano S wallet.

This is because, in every instance, all you need are the same two pieces of information:

  • Your login credentials
  • The public address of the destination wallet

If you have both of these things, you can successfully add Bitcoin from your online wallet to your offline wallet.

Funding Your Bitcoin Account And Adding It To Your Wallet – The Entire Process

Now it’s time to figure this whole process out.

How do I go from having my money in hand, to buying Bitcoin with it, and then adding that Bitcoin to my wallet?

This is how you do it.

For this example, I’m going to use one of the most popular exchanges and one of the most popular hardware wallets.

We will be taking our Bitcoin from our online Coinbase wallet, and depositing it into our offline Ledger Nano S wallet.

1. Buy Bitcoin On Coinbase.

So, obviously, the first thing you have to do is actually buy the Bitcoin.

There are many places you can buy Bitcoin from, but for the purposes of this example, let’s say we use Coinbase.

We actually have a full, step-by-step walkthrough of exactly how to buy Bitcoin on Coinbase.

We will continue on, assuming you have gone and read this article.

2. Locate Your Ledger Nano S Public Address.

Now that we have actually made our Bitcoin purchase, it is now time to take it off of the exchange and place it in our safe, offline wallet.

To do this, we must find the public address of our hardware wallet.

For the Ledger Nano S, this how you find it:

Go to the Ledger Wallet website and download the Ledger Wallet Bitcoin & Altcoins.

Then, plug in your Ledger Nano S.

When you plug the Ledger Nano S into your computer, this screen will show up:

Here, it will ask you if your Bitcoin address is Segwit or Legacy.

For fear of going too far down the rabbit hole here, simply select “I don’t know” for now.

We will explain the difference between Segwit and Legacy addresses in a future article.

Next you will see this screen.

Click “receive.”

Here, it will display your public Bitcoin address.

This is the wallet address that you will be adding your Bitcoin to.

3. Fund Your Wallet By Depositing The Bitcoin To This Public Address

Now that you have the public address of your destination offline wallet, you have to go to Coinbase and send the Bitcoin to it.

Note that I have bought $100 worth of Bitcoin in order to show you how this transaction works (a little less because of the transaction fees and volatility).

On your Coinbase dashboard, go to “Accounts”.

You’ll see the total amount of Bitcoin in your Coinbase wallet on the left.

We want to send the Bitcoin from this wallet to our Ledger Nano S wallet.

Click “send”.

Here is where you copy and paste your Ledger Nano S public address.

Keep in mind that, as I said, this process is the same for all exchanges.

You simply find the specific cryptocurrency you are trying to fund your offline wallet with, and then click either “send” or “withdraw”.

Most exchanges actually saw “withdraw”.

But the option is the same.

Two areas typically pop up when you do this:

  • The destination public address
  • The amount you are sending

That’s all the information your have to put it.

You just need to know the public address of the wallet you are funding, and the amount you wish to send.

In this case, I’m just going to send the entire amount.

Click “continue”.

4. Confirm This Transaction Via Email

Depending on the exchange, there may be a verification email sent to you in order to confirm this transaction.

This is simply an added security feature in order to make sure it is actually you that is sending the money.

How To Pay Money Into A Bitcoin Account Permanently

Once you find this email and click “confirm”, the transaction is final.

Now all you have to do is wait for the funds to be added to your wallet!

This can take anywhere from a couple minutes up to an hour.

So don’t freak out or stress if you don’t see your wallet funded right away!

The funds are on their way and will be deposited shortly.

If you prefer video, here is a great video detailing the steps of transferring bitcoin between wallets:

Adding Bitcoin To Your Wallet: Closing Remarks

And that’s it!

You have officially sent, received, and successfully funded your Bitcoin wallet!

That wasn’t so hard, was it?

Admittedly, I was on the edge of my seat the first time I did it, too.

With this whole world being so new to me at the time, it took a while for me to actually summon the courage to actively send my Bitcoin from one place to another.

But after the first few times, I got used to it.

And you will, too!

Just be sure to take your time and follow this guide step-by-step.

Before you know it, you will have safely added your Bitcoin to your offline wallet!

Good luck!

George Shnurenko
From phishing to Trojan transfers, here are all major ways to hack your Bitcoin
Cover image via www.123rf.com
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Bitcoin and other cryptocurrencies took the world by storm in the recent Blockchain boom. It was all over the news and everywhere people talked and traded Bitcoin.

However, when it comes to the security aspect, Bitcoin users don’t have a second thought before pointing out that the cryptocoin can’t be hacked. But, quite unfortunately, that’s not exactly the case as the hackers have been able to steal away Bitcoins worth millions of US dollars over the years.

And, if you are also interested in finding out how to hack Bitcoin or how to hack someone's Bitcoin wallet, here we have listed all the possible options that you can try. Let’s find out.

1. Stealing the private keys

Before getting into the details of how to hack the Bitcoin wallet, you should first understand that Bitcoin is nobody’s property.

Bitcoin

Blockchain, the Bitcoin public ledger, maintains a record of all the addresses and a certain value is then attached to the particular key that identifies each record.

So, when someone owns Bitcoin, what they actually have is the private key for unlocking a particular address on the Blockchain.

These keys are stored both online and offline in so many different ways and each of them has a certain security level. Nevertheless, they all are vulnerable because, as you want to know how to hack a Bitcoin wallet, all you have to do is to somehow access that character's string which forms the private key.

Most of the time, it’s the online services being responsible for storing private keys that get attacked. Sheep Marketplace is a perfect example of such service providers. Mostly, it’s the insiders who carry out such attacks as they don’t even need to know the hacking thing at all. All they need to do is to copy the entire database containing private keys to own the Bitcoins located on all the addresses stored in the database.

You can also do the same if you’re an insider and know how to break into the database. And, once you do, you’ll be able to spend all the Bitcoins anywhere you like.

2. Keyloggers

It’s the malware that records the keystrokes of the users and sends it all to the hacker. It is almost impossible to detect these programs and you might even have it running on your smartphone or computer right now without noticing it at all.

They copy every seed, password and pin that you type and can turn out to be an effective answer to the question of how to hack a Bitcoin faucet. They can really provide hackers an easy gateway to all the bitcoins they want to hack.

Usually, there are three different options available for installing keyloggers. They include:

· Send it as an email attachment that could be anything like an exe file or a pdf

· Create a malicious site for installing the software

· Distribute it by loading onto a USB and then dropping them off at some Blockchain/Bitcoin conference. The malware will simply be downloaded to one’s computer as they insert the USB for checking out what’s in there.

3. Fake wallets

Another cool option you have to answer how to hack Bitcoin wallets, this one gives you a more sophisticated way of achieving your goal. It also needs you to do some work on your part as these fake wallets are simply the apps which resemble genuine wallets but are meant to steal the Bitcoins away.

These apps typically use official logos and everything else of existing Bitcoin wallets for tricking the users and stealing the Bitcoins away. These fake wallets are a routine thing both on Apple and Android App Stores.

4. Bitcoin miner malware

For those looking to find out how to hack Bitcoin faucet, another option is to rely on some Bitcoin miner malware.

Every Bitcoin that gets mined makes the creation of the new Bitcoins harder. You need electricity for running and cooling down those ‘miner’ computers. And with electricity being a major operational cost for Bitcoin miners, many of them borrow resources for mining Bitcoins. They usually do so by spreading the Bitcoin mining malware.

Today, Bitcoin is simply mined through the biggest Bitcoin malware botnets. Though they don’t have any negative intentions, still the use of a computer this way is not authorized as they tend to hijack the online video equipment and the victim bears all the cost. As a result, the hijacked computers are also slowed down as well.

5. Bitcoin phishing

Want to know how to hack Bitcoin accounts, why not try Bitcoin phishing? It’s a popularly known method for information theft which relies on fake websites or emails for tricking users into providing their private keys.

6. Impersonating as Bitcoin recipients

Another option for you is to impersonate as a Bitcoin recipient. Lately, most Bitcoin hacking happened when the companies held fundraising events in the form of ‘initial coin offerings’ asking investors to send bitcoins to them. Now, that’s where you get the answer to the question of how to hack a Bitcoin address.

Clever hackers can impersonate as companies looking to receive the Bitcoin by setting up fake websites and persuading investors to send them Bitcoins worth millions of US dollars in their own Bitcoin wallets rather than the ones being used by the actual companies. And, once the Bitcoins are transferred to their wallets, there’s no coming back.

7. Stolen value stores

Bitcoin

The value of cryptocurrencies is usually stored in the file stores called wallets. However, these wallets can sometimes be manipulated, compromised, transferred and stolen similar to any other value store we have on our computers.

How To Pay Money Into A Bitcoin Account Receivable

What’s even worse is that people tend to forget the protective passwords or their hard drives keeping the store get stolen which renders these value stores to become inaccessible forever. The same sort of issues can be caused by Ransomware. And, once this happens, it’s not possible to access the wallet using another computer.

Now, that’s what hackers usually take advantage of. In fact, a popular question among hackers last year was how to hack Bitcoin wallet 2017. Even today, hacking attempts are made on the online wallets and many even get successful. So, if you’re also trying to achieve the same, you can also give it a try.

8. Transfer Trojans

Another option available to those looking to find out how to hack a Bitcoin address is to transfer Trojans and simply get Bitcoins transferred to their personal wallets. The cryptocurrency Trojans are meant to monitor computers and wait for anything that looks like a crypto account number.

And, as soon as they spot one, they take action and replace the user’s intended account from that of the hacker and as soon as the user hits that ‘Send’ button, all the funds are transferred to the account of the hacker. Again, there’s no recovering from this either.

So, these are all the possible ways to hack Bitcoin. In fact, more of them can be discovered as hackers continue their attempts to steal away Bitcoins from their owners.

How To Put Money Into A Bitcoin Wallet

You can buy a safe Ledger wallet by using this referral link.