Sending Your First Transaction
Your First Step into the Bitcoin Network
Congratulations! You've received your hongbao and now you're ready to make your first Bitcoin transaction. This guide will walk you through sending Bitcoin safely and confidently.
Before You Begin
Prerequisites ✅
Important Reminders ⚠️
Bitcoin transactions are irreversible
Always double-check addresses
Start with small amounts
Network fees are required
Understanding Transaction Basics
What Happens When You Send Bitcoin?
Your Wallet → Creates Transaction → Broadcasts to Network
↓
Miners Validate
↓
Added to Blockchain
↓
Recipient Receives!Transaction Components
Every Bitcoin transaction includes:
Input: Where Bitcoin comes from (your address)
Output: Where Bitcoin goes (recipient's address)
Amount: How much to send
Fee: Payment to miners for processing
Step-by-Step: Sending Bitcoin
Step 1: Get Recipient's Address
The recipient needs to provide their Bitcoin address. They can:
Show QR code (easiest)
Copy/paste address (careful!)
Send via secure message
Address Formats:
Legacy: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
SegWit: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy
Native SegWit: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq
All formats work - newer ones have lower fees!
Step 2: Open Send Function
In your wallet:
Tap "Send" or paper airplane icon
Choose Bitcoin (not Lightning)
You'll see send screen
Step 3: Enter Recipient Address
Method 1: QR Code (Recommended)
Tap QR scanner icon
Point at recipient's QR code
Address fills automatically
Verify it looks correct
Method 2: Copy/Paste
Copy address from recipient
Paste in address field
Triple-check every character
Look for validation checkmark
Step 4: Enter Amount
You can enter amount in:
BTC: 0.00012345
Satoshis: 12,345
Your currency: $50
Tips:
Wallet shows your balance
Can't send more than you have
Leave some for fees!
Step 5: Set Transaction Fee
Fees determine speed:
🐌 Low
Hours/Days
Not urgent
🚶 Medium
30-60 min
Normal use
🏃 High
10-20 min
Time sensitive
🚀 Priority
Next block
Urgent
Most wallets suggest appropriate fees!
Step 6: Review Everything
Before confirming, check:
✅ Correct recipient address
✅ Right amount
✅ Acceptable fee
✅ Total makes sense
Step 7: Send!
Tap "Send" or "Confirm"
Enter PIN/biometrics if required
Transaction broadcasts to network
You'll see confirmation screen
Step 8: Track Your Transaction
Your wallet shows:
Transaction ID (long string)
Status (pending → confirmed)
Confirmations counter
You can also check on mempool.space
Your First Practice Transaction
Safe Practice Options
Option 1: Send to Yourself
Generate new receive address
Send small amount to it
Practice the process safely
Option 2: Lightning Wallet
Set up Lightning wallet
Send tiny amount
Near-instant and cheap
Option 3: Tip Someone
Find content creator accepting tips
Send small appreciation
Real transaction with purpose
Understanding Confirmations
What Are Confirmations?
Each new block added after your transaction = 1 confirmation
0 confirmations: Pending (waiting for miners)
1 confirmation: In blockchain (~10 minutes)
3 confirmations: Very secure
6 confirmations: Irreversible
Why Wait for Confirmations?
Small amounts: 1 confirmation usually fine
Large amounts: Wait for 3-6
Exchanges: Often require 3-6
Personal choice based on trust
Common Transaction Scenarios
Sending to Friend
Meet in person or video call
They show QR code
You scan and send
Both see confirmation
Paying for Goods/Services
Merchant provides address/invoice
Often includes exact amount
May have time limit
Save receipt/transaction ID
Exchange Deposit
Generate deposit address on exchange
Verify correct network (Bitcoin, not others)
Send from wallet
Wait for exchange confirmations
Testing New Wallet
Send minimum amount first
Verify it arrives
Test recovery if needed
Then send larger amounts
Transaction Fees Explained
What Determines Fees?
Fees based on:
Transaction size (bytes, not Bitcoin amount)
Network congestion
Desired speed
NOT based on:
Amount being sent
Distance to recipient
Wallet being used
Fee Saving Tips
Use Native SegWit addresses (bc1...)
Send during low-congestion times
Batch multiple payments together
Consider Lightning for small amounts
Troubleshooting Common Issues
"Insufficient Balance"
Check you have enough for amount + fee
Wallet might be calculating conservatively
Try reducing amount slightly
"Invalid Address"
Recheck every character
Ensure it's a Bitcoin address
Some wallets only accept certain formats
"Transaction Stuck"
If fee too low:
Wait - it may confirm eventually
Use RBF (Replace-By-Fee) if available
CPFP (Child-Pays-For-Parent) advanced option
Learn for next time
"Sent to Wrong Address"
Cannot be reversed 😔
Contact recipient if possible
Expensive lesson learned
Always double-check!
Advanced Features
Replace-By-Fee (RBF)
Increase fee after sending
Speeds up stuck transaction
Not all wallets support
Coin Control
Choose specific UTXOs to spend
Advanced privacy feature
For experienced users
Batch Transactions
Send to multiple addresses
Saves on fees
Business use case
Security During Transactions
Always:
✅ Verify address character-by-character
✅ Start with test transaction
✅ Use secure internet connection
✅ Check wallet is authentic
Never:
❌ Send to address from email
❌ Trust "refund" addresses
❌ Send under pressure
❌ Ignore warning messages
After Your Transaction
Save Records
Transaction ID
Recipient address
Amount and fee
Purpose/notes
Confirm Receipt
Ask recipient to confirm
Check blockchain explorer
Wait for confirmations
Learn and Improve
What went well?
What was confusing?
How can you improve?
Practice Challenges
Beginner:
Send $1 to yourself
Try different fee levels
Watch confirmations
Intermediate:
Send to friend and back
Use QR codes
Try RBF feature
Advanced:
Use coin control
Create multi-output transaction
Experiment with Lightning
Next Steps
💰 Understanding Fees
⚡ Lightning Network
🔒 Advanced Security
🎉 Congratulations! You've made your first Bitcoin transaction! Each one gets easier. Remember: measure twice, cut once - or in Bitcoin: verify twice, send once!
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