Tutorials:Send Bitcoin

Quest: Send Bitcoin

Sending Bitcoin is a simple process. You need the recipient's Bitcoin address and can follow these steps:

Sending Bitcoin

1. Select the 'Send' tab.
2. Paste the recipient's Bitcoin address into the Pay to field in your wallet.

If you have a Bitcoin URI: Paste it into the Pay to field, and the wallet will automatically fill in the details of the transaction.

Setting Transaction Fees

• When you click the Pay... button, a window appears where you can adjust the transaction fees.
• The Bitcoin network processes transactions based on fees:

 Transactions with higher fees are prioritized and included in the next block.
 Transactions without fees may still be processed if there is space in the block, but this depends on network activity.

Electrum estimates fees based on how quickly you want your transaction to be confirmed.

 Note: Fees are proportional to the transaction size (data), not the amount of Bitcoin sent.

Task

Use this Bitcoin URI and paste it in the Pay to field in the Send tab of your Electrum wallet:

bitcoin:bc1qwafaz9jszrw5letxvu72qf6xxhgp89pc39x2fg?amount=1&message=Pay%20The%20Beginners%20Guide%20to%20Crypto

Assuming you don't have that much Bitcoin in your wallet!!

Click on the Pay... button.

To complete the task you have to type in the message obtained in the Electrum wallet.

Exercise

• If you click the Pay... button, and supposing you have enough funds, the transaction request is sent.
• Once sent:

 * The request is broadcast to the Bitcoin network and stored in the memory pool (mempool) of unprocessed transactions.
 * When the transaction is confirmed, you will receive a confirmation message.
 * You can track the status of your transaction on the blockchain (this will be explored in a future quest).

• After hitting the Pay... button:

 * The Bitcoin sent will no longer display in your wallet to avoid confusion.  
 * However, you still have control over the Bitcoin until the transaction is processed.

Handling Stuck Transactions

• If the transaction is not processed due to low fees:

 * It may remain in the mempool for an extended period.
 * Your Bitcoin is not lost; it remains under your control until the transaction is processed.

• You can resend the transaction with higher fees to expedite processing.

 * If the new transaction is processed first, the original transaction will fail when considered by the network.