Gone are the days when making a transfer was nothing more than a banking entity. Since the advent of cryptocurrencies, the term has been coined for these digital assets as well.
The procedure is equally simple, but it can also be complicated for newbies and not very assiduous to this type of business model. However, with this article we propose in a practical and simple way, the exact way and the steps to be taken to achieve transfer of Bitcoin (BTC) price from account to account on a common day.
Steps to make daily Bitcoin transfers
Cryptocurrencies are not a traditional form of payment and were created not to be anchored to any type of bank or traditional model.
Bitcoin changing hands
Consequently, sending Bitcoin price from wallets to wallets on a normal day differs from normal transactions.
Here are the exact steps to be able to perform operations of this type successfully:
Cryptocurrencies have changing values that depend on the market capitalization, that is, the volume of purchase and sale of assets.
Before this, it is important to use a Bitcoin calculator to know the price, especially if the transaction requires an exchange of fiat currency to BTC as the value of the bitcoin in dollars
It should be noted that the price of the cryptoactive can change in a matter of seconds.
Enter the amount
After verifying the current price, you can place the pile you want to transfer.
We remind you that the previous step is almost mandatory, since it depends on whether what is stored in your wallet is sufficient; Because the fees for exchanging and sending money in BTC vary. However, the latter will depend on the company.
Scan the QR code or wallet address
Following to know the amount , the platform from which you will be making the transfer will ask you for the address of the wallet that will receive the money.
The address or key is characterized by having a series of numbers, letters and special characters without any meaning. You can also scan the QR code of the beneficiary wallet.
It should be noted that the scanning system is very common in businesses and businesses when payments are made in crypto assets.
Finally you must give the option to send. Of course, you must make sure that you have entered all the requested data correctly, since any error is solely the responsibility of the client.
Tips and information of interest
Beware of commissions
Transfers of Bitcoin or any other cryptocurrency such as Ether, Tether and other assets are not exempt from commissions.
checking bitcoin prices on a tablet
Therefore, when making the transfer, we recommend that you pay close attention to which wallet or exchange to choose; because not all have the same commissions.
It should be noted that Remitano is one of the exchanges that charges the least commissions in the market and that offers greater security.
Currently it is very common for those who are dedicated to making money online to receive fiat money through platforms such as PayPal and decide to save in BTC.
The latter is very useful, however, it is advised that before making such an exchange, you determine how much you lose to execute the order. For example, there are companies that for passing a certain amount of dollars to BTC , charge up to 15% commission.
Conclusion? Consider if such a sacrifice is really worth it, although saving in Bitcoin will always be the best investment of your life.
Everything will depend on the country
Buying Bitcoin is a more than popular activity around the world. We all know the asset game: Buy low, sell high, and of course backing your earnings in fiat money or stablecoins like Tether.
However, when making transfers within a country or sending it abroad, it is a good idea to consider the national currency.
The reason? Not always merchants around the world buy Bitcoin with dollars and instead use their country’s currency.
For this reason, it is a good idea to check the amount to transfer based on the asset of the country to which you will send the money. You may think this is difficult, but don’t worry, there are calculators that will easily show you the specific equivalency in real time.
They are irreversible
Transactions are irreversible, so it is more than important to check that the data and everything related to the operation are correct.
Remember that in this market there are no refunds, much less claims. Any failure is your full responsibility.
What are the advantages of transferring Bitcoin?
The blockchain network that BTC uses allows transactions to be carried out practically at the speed of light.
Price variations graph
Likewise, the nodes interconnected with each other are more efficient when compared to banking entities; that can even take days to process operations or leave them in limbo within the system.
Everything related to money can cause concern, which is why security is one of the most important aspects.
As we already said, Remitano has really strong security protocols.
Remember that Bitcoin transfers use a public address and a private key. In relation to keys, they are a kind of pin code that guarantees control over the owners’ assets; while public addresses serve to send and receive Bitcoin without risk of theft.
We previously spoke that transfers can be somewhat expensive if they require a prior exchange, but that this will depend on the platform. However, they are still much cheaper than the fees charged by banks and even by other payment platforms such as PayPal or Uphold.
When Bitcoin is sent, the amount to be charged is almost always very small. These values are not charged for the amount to be sent, but for the size of the operation on the blockchain.
Counterfeits are impossible
Do not be fooled, because there are those who seek to make you believe that transfers in Bitcoin can be forged, which is totally false.
It is impossible to fraud the bitcoin network
The BTC protocol makes it impossible for operations to be modified once they have been sent to the network.
Likewise, you cannot lie and say that they have never been initiated, since the blockchain keeps a record from the beginning of time of all the movements made. Therefore, if someone tries to scam it, it will be impossible. We recommend that at the time of trading the asset you verify the reputation of the trader.
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The Chicago Mercantile Exchange (CME), one of the most important derivatives exchanges in the world, began this Monday, February 8, the commercialization of future contracts for ethers (ETH), the native cryptocurrency of the Ethereum network. It is a new product that seeks to replicate the one already offered with bitcoin (BTC) since 2017.
Each monthly contract is made up of 50 ETH which, according to the current price of the cryptocurrency ($ 1,705), would be more than $ 85,000. Accredited traders can block trading with a minimum of five contracts , as reported by the CME group through its website.
Grayscale is bullish on the price of ether due to the development of Ethereum
“The addition of ether, together with our liquid futures and options Bitcoin will create new opportunities for a wide range of customers , ” noted Tim McCourt, global head of equity indices and alternative investment products CME Group. The executive added that institutional demand for these types of products continues to increase.
The group indicated that, among its liquidity providers for its new product, will be: Akuna Capital, BlockFi, Cumberland, Galaxy Digital Trading, Flow Traders BV, Genesis Global Capital, CoinShares, LedgerPrime and NYDIG. Some of these also work for bitcoin futures and options .
CME highlighted that the settlement of ethers futures contracts is carried out in cash, in accordance with its ether-dollar index. It should be mentioned that in these cases the operators who participate in the negotiations do not have direct control over the cryptocurrencies . Traders acquire representative contracts for an estimated value according to the market price.
The commercialization of the future contracts of ethers was announced in December 2020 by CME, according to a report released by CriptoNoticias. This type of product allows the parties involved, buyers and sellers, to establish the representation of an asset with a specific quantity and price on a date established in the future.
The new contracts based on the cryptocurrency of the Ethereum network come amid an uptrend in the market . Ether reached an unprecedented price of $ 1,752 per unit on February 5, according to CoinGecko records .
In December 2017, CME Group captured media attention after confirming its bitcoin futures contracts . At that time it was a milestone for both institutional investments and cryptocurrencies since it was the first financial product based on BTC by an institution with a long history and reputation.
This type of operation has resulted in positive numbers for CME. In May of last year, open interest in bitcoin futures reached an all- time high of $ 400 million at the time .
Now, with the commercialization of ether futures, it is evident that the institutional demand for products related to cryptocurrencies continues to increase . Dozens of funds and companies such as Tesla , MicroStrategy , Square and Stone Ridge maintain multi-million dollar direct investments in BTC, for example.