How to Send Bitcoin Without Losing It: Coinbase, Kraken and Wallets

Sending bitcoin takes about five minutes of your time, but the transfer itself can take anywhere from a few minutes to an hour or more to settle. This guide on how to send bitcoin is for anyone moving BTC for the first time, whether that is from an exchange like Coinbase or Kraken to your own wallet, to a friend, or to another platform. The steps are simple. The part that trips people up is that there is no undo, so most of this guide is about checking things before you press the final button.

Coinbase puts it bluntly in its help center: all sends to cryptocurrency addresses are irreversible. Bitcoin.org says the same thing in plainer terms, noting that a Bitcoin transaction can only be refunded by the person who received it. Keep that in mind and the rest falls into place.

Before you start

Have these ready before you open the app:

• The receiving address, copied from the recipient's wallet or account, or a QR code you can scan
• The network the recipient uses, which for ordinary bitcoin is the Bitcoin network (or Lightning, if they told you so)
• Enough BTC to cover the amount plus a network or withdrawal fee
• Access to your two step verification app, since many exchanges ask for a code on withdrawals
• A few spare minutes to send a small test amount first if this is a new address

If you do not yet own any bitcoin, start with our guide on how to buy bitcoin. If the difference between an exchange account and a personal wallet is still fuzzy, how crypto wallets work explains it in a few minutes.

Stage 1: Get the right receiving address

1. Ask the recipient to open the Receive screen in their wallet or exchange app and choose Bitcoin (BTC). On Coinbase, for example, the receiver taps Receive, reviews the prompts, taps I understand, picks the asset and then shares the address or QR code.
2. Have them send the address as text or show you the QR code. Copy and paste it. Kraken's support pages tell users to always copy and paste the full address and never type it by hand, and that is good advice for every app.
3. Confirm the format. Bitcoin addresses usually start with 1, 3, bc1 or bc1p. Kraken lists all four as supported for on chain BTC withdrawals. A Lightning invoice looks different and starts with lnbc.
4. Check the first and last five or six characters against what the recipient sees on their own screen. Some malware swaps a copied address for an attacker's address, and this quick comparison catches it.

Stage 2: Send bitcoin from Coinbase

Coinbase's help article lists these steps for the app:

1. Sign in and tap Send.
2. Select the asset (Bitcoin) and enter the amount. You can toggle between showing the amount in cash or in crypto.
3. Tap Continue to review the details.
4. Choose a contact, or enter the recipient's email, their crypto address, or scan a QR code.
5. Tap Preview send and follow the remaining prompts to confirm.

One detail worth knowing: Coinbase says a send to another Coinbase user who has not opted into Instant sends goes on chain and pays network fees, and any send to someone outside Coinbase goes on chain with network fees as well. If you plan to cash out instead of sending to another wallet, our walkthrough on how to withdraw from Coinbase covers moving money to your bank.

Stage 3: Send bitcoin from Kraken

Kraken calls this a withdrawal. Its support page describes this path on kraken.com:

1. Open the Portfolio tab and click Withdraw.
2. Search for or select Bitcoin.
3. Pick the network. Kraken's guidance is to always select the same network your receiving wallet uses, and it warns that an incompatible network can mean permanent loss of funds.
4. Enter an amount that meets the minimum. The fee and minimum shown on the confirmation screen are the ones that apply.
5. Add the address if it is new. Choose Add new withdrawal address, give it a unique label, paste the address and save it. Kraken may email you a verification link that stays valid for one hour, unless you are on a trusted device.
6. Confirm the address in the To field, enter your funding two step code if asked, and submit.

Kraken notes that you will not get an email confirming the withdrawal, so check the activity or recent transactions list for its status. Also be aware of holds: Kraken says buying with ACH, PayPal, a card or a digital wallet triggers a 72 hour withdrawal hold, and new addresses can be held for up to 24 hours in some account security situations.

Stage 4: Send a test, then the full amount

1. For any address you have never used, send a small amount first.
2. Ask the recipient to confirm it arrived in their wallet.
3. Send the rest using the same saved address.

The test costs you one extra fee. On a large transfer that is cheap insurance.

Stage 5: Track the transaction until it confirms

After you submit, your app shows the transfer as pending and usually gives a transaction ID. You can paste that ID into any public block explorer to watch it. According to Bitcoin.org, transactions do not become irreversible right away. New blocks arrive roughly every 10 minutes on average, and it suggests 6 confirmations as the minimum for high value transfers when using a lightweight wallet. Many exchanges credit deposits after fewer confirmations, but the receiving platform sets its own rule.

Bitcoin.org also points out that a transaction paying a fee below what the network is currently prioritizing can take considerably longer to get its first confirmation. Exchanges pick the fee for you. Personal wallets often let you choose a speed, so pick a faster option when the network is busy and you are in a hurry.

When it does not work

The app says the address is invalid. Kraken lists two common causes: the address is in an unsupported format, or it was pasted into a description or memo field instead of the address field. Copy it again from the source.

The send is stuck as pending. Usually the network is busy or the fee was low. Check the transaction ID in a block explorer. If it shows zero confirmations, waiting is normally the only option on an exchange.

The amount is too small. Every platform sets a minimum withdrawal. Raise the amount or check the minimum on the confirmation screen.

You picked the wrong network or address. Contact the receiving platform's support right away with the transaction ID. Recovery is not guaranteed, and often it is not possible.

Someone asked you to send bitcoin to fix a problem. Stop. The FTC says only scammers demand payment in cryptocurrency, and no legitimate business or government agency will. Our guide on how to spot a crypto scam covers the patterns. If you already sent money, report it at ReportFraud.ftc.gov and to the FBI's Internet Crime Complaint Center at ic3.gov, and tell the exchange you sent from.

More step by step guides live in our crypto section. Before your next transfer, save the addresses you use often in your exchange's address book. A labeled, verified address is the single easiest way to avoid sending coins somewhere they can never come back from.