How to receive crypto-currencies ?

How to receive crypto-currencies ?

Would you like to receive crypto-currencies, but you don’t know how to do it ? Here is the method explained step by step to allow you to do it.

Why receive the crypto-currency

You can receive the crypto-currency for several reasons. The most traditional case is receiving in the context of a transaction, either a purchase or a sale of crypto-currencies and / or in the context of a merchant website, as a payment for a good or service. In addition, you can receive as a reward if you manage to fulfill a mission of mine. However, regardless of the reason for receive the crypto-currency, the method is always similar.

Have a place to store their crypto-currencies

Before you can receive the crypto-currency, you need a place to store it. For this you have several solutions :

  • You create an account on a platform which includes an integrated portfolio. For example, you can choose Coinbase. This solution is pretty limited but rather interesting for a beginner as it is much simpler to use. It is perfectly adequate for people starting out with the crypto-currency. However, advanced users may prefer a different solution.
  • The second solution is to opt for an online portfolio. Although it is more complicated to use, it is a solution that has many interests. One of them is security, especially because you will be able to generate your own private keys. For example, you can opt for the portfolio of Electrum, which offers many advantages, including being compatible with many crypto-currencies.
  • Finally, you can opt for a hardware portfolio. It is a type of portfolio rather for professionals. Its main advantage is to be invulnerable to different attacks and hacking attempts. It was due to the fact that your private keys will be stored on an onboard chip. So that even if it is used on a computer vulnerable to attacks or even already infected, your crypto-currencies will be in perfect security.

Create your receiving address and receive your crypto-currency

Once you have chosen the place where you want to store your crypto-currency, you will need to create a receiving address. For this, you just have to choose the option that is used to generate a new key. You will usually find in your profile or in the deposit options. However, you must ensure that your address does not contain an error when you pass, as well as when the transmitter will use. A shipment of crypto-currency is irreversible, which means that if you use an incorrect address, your crypto-currency will be permanently lost. We advise you, as well as the issuer of the mailing, always make a copy/paste for transmit, or otherwise use your address. Once the transaction is validated, you will receive your crypto-currency on the address that you have indicated.

What you must remember

  • Before you can receive the crypto-currency, you need to choose a place to store it.
  • You must then generate a receiving address.
  • The issuer of the send should you send the crypto-currency by using your e-receipt.