Last Updated: 1st October 2021.
Bitcoin has been adopted by millions of people globally and Blockchain technology being the one behind it.
I understand how interesting it can be to keep money in the digital currency space or even trading with it.
Having a blockchain account is not enough because it is totally useless if you don’t know how to add money to it.
So we will be doing a step-by-step tutorial on how to add money to a blockchain wallet.
Let us start!
Step by Step Tutorial to Add Money To a Blockchain
Before we start, let me first list the steps needed to add money into a blockchain wallet and we take it into practice thereafter.
- 1. How to receive Money from another Blockchain/External wallet address
- 2. How to add money to Blockchain Wallet Using Credit/debit card
- 3. How to send Bitcoin out To another
Let us start!
Before we continue, you need to understand that not all countries are allowed to add money to the blockchain using credit cards or debit cards, African countries especially.
Whenever you try to make an attempt to, you will get something like “We are working to extend our services to all-region”
However, everyone can send and receive the money within the blockchain wallet using digital currencies, like Bitcoin, ETH, USDT, etc.
Also, the sending and withdrawal of cryptocurrency for countries that are not supported add money into the Blockchain don’t really have a limit.
The reason is that for that set of countries there is know your customer verification (KYC)
But there is a strict KYC in some countries of the world, part of them is the USA.
For this type of country, there is a 2 level of verification.
The first is
The silver level will place your account on a $25,000 daily exchange limit while the other one is.
Gold level, which will place your account on a $50,000 daily exchange limit.
What is to be used for this verification strictly depends on countries, so you need to find out that yourself from the official website blockchain.com.
But this is what they normally request for and other personal information.
And that leads to the next chapter.
How To Receive Money From Another Blockchain Wallet
So we will be using this section to look at how you can add money to a blockchain wallet using another blockchain account.
Or from another Bitcoin wallet provider.
Getting Bitcoin from another blockchain address or from another external wallet provider means that you either pay someone to send for you.
Or your relatives are willing to give you for free.
Step By Step To Follow
The first thing you need to do is to log in to your blockchain account after you must have successfully login.
This is what the blockchain interface will look like.
So click on the request button as the arrow is pointing above.
After click on the request button.
The next thing that you will see that would show up is this page below.
You will notice something like a trading account and a private key wallet.
Let Me Explain
- Trading Account: The trading account allows you to receive the crypto you buy within the wallet, swap, exchange, and more. So the trading account is more of a business.
- Private Key Wallet: The blockchain private key wallet means that, a safe wallet where you can keep or hold your coins. This means that you don’t plan to sell or buy within the Blockchain wallet but just holding the coin. Holding doesn’t mean you can’t send it out at any time.
For the sake of this tutorial.
We will be dealing with the private key wallet and that is what we should use.
So click on the Private key wallet as cycled above and a wallet address that looks like the one below will be generated for you.
You can then copy the address and send it to your relatives or whoever is sending the coins to you.
You can also share the bar code.
What it means is that you can screenshot the bar code and send it to your sender.
At times, the bar code is safer than the normal wallet address and that is because.
If you mistakenly exclude just a letter from the wallet address generated, the coins will be permanently lost into the network.
After sharing your wallet address and the sender has sent it.
Wait for some minutes to receive it.
NOTE: The steps used above are from receiving Bitcoin, if you are receiving another coin like USDT then you need to send a USDT address and not a Bitcoin wallet address.
How to Add Money to Blockchain Wallet Using Credit Card
The steps are a little bit complicated because you will have to go through a lot of verifications while doing it for the first time.
But I will still make sure it is understandable and you don’t find it really difficult
So let us start!
Click on the Buy/Sell Crypto button as it is pointing below.
A page like this will pop up after you must have to click the Buy/Sell Crypto button.
Since the blockchain network actually has lots of coins listed.
You need to select the one you want to buy.
For the sake of this tutorial.
Here at SmartForexHub, we select Bitcoin as you can see below.
Selecting Coin
After selecting the coin you want to buy.
The next thing to do is to select the amount you want to buy.
As you can see above, we put $1000 on what we want to purchase.
After that, click on the Add Payment Method button.
And you will be redirected to the page below.
As you can see for yourself that the most popular means of payment on Blockchain network is a Credit or Debit Card.
And there is also a Wire Transfer payments method.
The Wire Transfer typically takes up to 3 to 5 business days before it got credited.
I am sure you don’t want to wait all that long.
So just click on the Credit Card payments method and you will be redirected here.
The page above will show you what you want to buy and your payments method.
So, click on the I agree to Blockchain’s Terms Of Service.
After that, click on the “Buy 0.02120828 BTC”
NOTE: The estimation above in BTC is the current exchange rate ($1000 to BTC) as of the time of writing this article. Yours might be different.
After clicking on the buy button, you will be redirected to the page below.
As you can see, you need to first verify your account first.
After the successful verification that is when you will be able to buy the $1000 worth of Bitcoin that is used as an example in this tutorial.
You will also be able to Swap at any time after verification.
What it means is that you will be able to convert BTC to USDT within the Blockchain network.
The advantage is that it is stress-free compared to when using a third-party website.
NOTE: The verification is only applied while buying for the first time, you will be able to buy freely after a couple of transactions. That means your account is used to the system.
And that leads to the next chapter.
Steps to Withdraw Bitcoin From Blockchain Wallet
The page will cover how you yourself can send out money from a blockchain wallet.
Sending out coins in a blockchain wallet might means
- You are making a payment with it
- You are selling out to friends
- Or giving it out as support.
Individual reasons may vary as to the reason why there are sending out.
But here are the steps to goes about that.
Click on send as it is pointing below.
Then the page below will pop up.
You will have to fill in some information here and you need to be careful.
Let me Explain Them One by One
- Currency: This means that the type of coin you are sending, can either be Bitcoin, Ethereum or USDT. You select from the currency option.
- From: This is the wallet you are sending from, either the Private Key Wallet or the TheTrading Wallet we talked about above.
- To: This means that the final destination of your coin, eg a Wallet Address. The kind of wallet we generated above while receiving is an example of what you will paste here.
- Amount: The total amount of money you are sending either in dollars or in BTC value.
- Description: This is where you put the purpose of your sending. It is optional although.
- NetWork Fee: The network fee means how fast you want the coin you are sending to get delivered. There is regular and priority. The priority is the best but charges more.
After filling in all the information.
Click on continue and you will be asked to review all the info you have put it.
Click on confirm if everything looks good.
NOTE: Bitcoin transactions are irreversible.
Once you send it that is the final so be careful while filling out information to avoid the story that touches the heart.
Conclusion
Adding money to a blockchain wallet is not that hard and anybody can do it as you can see above that the steps involved are not so passive.
You just have to try it yourself, play around within the dashboard and you will get everything right within 30 minutes.
With that, we have come to the end of “How to add money to blockchain wallet”.
Now it is your turn.
What aspect of this tutorial did you find simplest?
Which aspect will you practice first?
Did you find any steps really hard?
Do let me know in the comment section below.
And do share the “How to Add Money to Blockchain Wallet” article on your social media account.