How to receive cryptocurrency safely
To receive crypto safely, share your public address, confirm the asset and network, and send a small test amount first. A wrong network can lose funds.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
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Receiving crypto means the sender pushes funds to an address your wallet controls. A confirmed transfer is final, so most of the work happens before you share anything.
What do you need before receiving?
Ask the sender which asset and which network they will use. A memo or tag is extra text that some networks require, so confirm the current rule in your wallet or with the receiving service.
How do you receive crypto step by step?
Start from your wallet's receive screen or the deposit page of the service that will credit you. That screen shows the current address and network.
- 1Open the receive screenChoose the asset you expect.
- 2Confirm the asset and networkAsk the sender to use the same network.
- 3Copy or scan the addressCompare every character before you share it.
- 4Check for lookalike addressesCopy from the receive screen, not from chat history.
- 5Send a small testAsk the sender to send a small amount first.
- 6Back up your walletKeep the recovery phrase private and do not share private keys.
What should you do after receiving?
Save the details of the transfer while they are fresh. The IRS treats crypto as property, so you usually need records of the date and dollar value when you receive it.
Frequently asked questions
The funds may not appear, and the transfer is final, so contact the sender and the service quickly.
Many wallets create a fresh address for each request to make payments harder to link.
Some networks require a memo or tag to route a deposit to your account.
No. A public address only lets someone send funds to you.
