How to send cryptocurrency to another person safely
To send cryptocurrency to another person, enter their address, amount, and network, then confirm. Save the transaction ID for your own records.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
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Most crypto transfers are irreversible once confirmed, so check carefully. The recipient's address does not tell you which network to use, so ask them.
What do you need before sending?
You need a funded wallet or exchange account. You also need the details below.
How do you send crypto?
Open your wallet or exchange and start a send. Enter the recipient's address, network, and amount. Check every field before confirming.
- 1Open the send screen.Choose send and check your balance covers the amount and fee.
- 2Enter the address.Paste or scan the recipient's address and compare it with theirs.
- 3Select network and amount.Pick the network the recipient's wallet uses. Enter the amount and review the fee.
- 4Review and confirm.Check the address, network, and amount once more. Approve it.
- 5Wait for confirmations.Your wallet shows pending until the network confirms.
After sending: records and safety
Once the transfer confirms, save the transaction ID and details. The IRS treats crypto as property, so keep records for tax reporting. Good records help if you contact support later.
- Save the transaction ID and the transfer details.
- Keep the USD value if you sent crypto as payment.
- Keep your recovery phrase and private keys to yourself.
- Check your wallet or exchange for the confirmed status.
Frequently asked questions
Usually not once confirmed. A pending transaction may be replaced, but a confirmed transfer cannot be canceled.
Contact the recipient and your wallet or exchange support. Recovery is usually not possible, and a transaction ID helps trace but does not guarantee it.
It usually takes minutes, depending on the network. A withdrawal from an exchange can add processing time.
If you send crypto as a gift, you usually do not owe capital gains tax. If you send it as payment, you report a gain or loss based on its value at the time.
