How to send money to Bitcoin wallet?
Some information about Bitcoin for Circle customers who still hold it.
Note: We no longer offer the ability to buy and sell Bitcoin. Customers who hold Bitcoin can continue to receive and send Bitcoin, but once they convert their balance to another currency, they will not be able to convert it back to Bitcoin. For more information, check out our help article about the changes, found here.
Sending Money using the Bitcoin Network
Bitcoin customers can send money to anyone anywhere in the world no matter what Bitcoin wallet the recipient uses. As the message above mentions, only customers holding Bitcoin will be able to send money to a BTC address. All transactions are free, secure, and fast no matter where you are sending the funds.
- Sign in to your account and navigate to the Send tab. There, you can enter in the amount you’d like to send.
- You will have to enter the Bitcoin address to choose where to send your funds. Once the recipient sends you the address for their destination, we suggest copying and pasting the address into the send page to prevent any mistakes.
- Alternatively, you can use the Circle Pay app to scan a QR code to send funds, and that will fill in the address information for you! (Other Bitcoin services and online merchants provide QR codes to complete payments.) To scan a QR code, select the QR Code option on the main Account tab, and just point your camera at the code.
How long do bitcoin transactions take to complete?
Bitcoin transactions can take anywhere between a few minutes to about 40 minutes.
That being said, the timeline depends on the network itself. Since the settlement of bitcoin transactions is governed by the speed of confirmations on the blockchain (the public ledger of all Bitcoin transactions), Circle has no way of canceling transactions or speeding them up.
A single confirmation on the blockchain happens within ten minutes. And since Circle requires four such confirmations before clearing a transaction and no longer considering it Pending, the average completion time for these transactions is about 40 minutes.