How To SEND Bitcoin Safely Without Getting Scammed

00:01 How to send Bitcoin to anyone anywhere
00:04 in the world. As easy as sending an
00:07 email, but not to hackers and scammers.
00:09 Let’s talk about it. First of all,
00:10 hackers and scammers. Do not ever send
00:13 Bitcoin to anyone that is asking you to.
00:16 No matter what, it is 100% a scam 100%
00:19 of the time. Nobody at Coinbase or River
00:21 or BitKey will ever tell you to send
00:24 your Bitcoin somewhere. Never, never,
00:26 never do that. If you get a phone call
00:29 from someone pretending to be from
00:30 Google or Coinbase or whatever, claiming
00:32 your account was compromised and they
00:34 need to help you secure it, it is a
00:36 scam. Hang up the phone. If you get a
00:39 text message claiming to be from
00:40 Coinbase claiming that a login happened
00:43 to your phone or that a, you know, send
00:46 was initiated or something like that and
00:49 asking you to call a phone number. Do
00:51 not call the phone number. Coinbase will
00:53 never include a phone number in a text
00:55 message. It is a scam. So, do not do not
00:59 do not send Bitcoin to anyone who is
01:01 asking you to. If they’re asking you to,
01:03 it is a scam. Okay, with that out of the
01:05 way, let’s talk about how you send
01:07 Bitcoin to anyone anywhere in the world.
01:09 Okay, so Bitcoin works. Sending Bitcoin,
01:12 let me put it this way. Sending Bitcoin
01:15 works like email. When you want to send
01:18 an email to somebody, the very first
01:19 thing you need to do is get the email
01:22 address of the destination. So, a lot of
01:25 people get hung up on this with Bitcoin.
01:26 They’re like, I need to send it and I
01:28 don’t know what to do. It’s like step
01:30 one, where are you going to send it?
01:32 Think about it like email. You got to
01:34 send the Bitcoin to somewhere else. You
01:36 got to start with the destination. Even
01:38 if you are sending Bitcoin to yourself,
01:41 you have to start with the destination
01:43 because you have to generate a Bitcoin
01:46 address. We’ll call it a Bitcoin receive
01:49 address. Okay. So let’s assume I am
01:51 sending Bitcoin between Coinbase and
01:55 River. Let’s say it’s going from
01:57 Coinbase to River. So if the destination
01:60 is River, that means when I want to send
02:02 it, even if I’m sending it to myself
02:04 between two accounts I control, I have
02:07 to start with the destination. What is
02:10 the email address or in this case the
02:11 Bitcoin receive address for where I’m
02:14 sending it? Well, because it’s going
02:15 from Coinbase to River, I have to start
02:18 in River and I have to generate a
02:20 Bitcoin receive address. Now, a Bitcoin
02:23 receive address is a long string of
02:26 letters and numbers. It’s between 26 and
02:28 62 letters and numbers in a string. And
02:32 uh Satoshi Nakamoto was smart enough to
02:34 make it work where it does not use any
02:37 special characters. So, if you double
02:38 click it, it’s not going to select only
02:40 part of a Bitcoin address. If you double
02:42 click a Bitcoin address, it always
02:44 selects the whole thing. Satoshi
02:45 Nakamoto was a genius. He made it, you
02:48 know, idiot proof. Um, also, you should
02:51 always copy and paste Bitcoin addresses
02:53 rather than type them because 26, you
02:56 know, letters and numbers is really
02:58 long. 62 letters and number is way super
03:01 long. And there’s no reason to to type
03:03 it. It’s just always easier to copy and
03:05 paste no matter when you’re doing it.
03:06 Uh, also you do not need to if you do if
03:09 you do decide to type any a bitcoin
03:11 address, you do not need to worry about
03:13 typing it wrong. Uh, there is something
03:16 called a check sum in a bitcoin receive
03:18 address that makes it impossible to send
03:21 it in the wrong place. So essentially,
03:23 no matter how long the address is, the
03:26 last five digits of it are uh a check
03:29 sum that makes sure that the first
03:32 however many digits are correct. And so
03:34 if you type a wrong letter or number
03:37 into the anywhere in the Bitcoin
03:40 address, whether it’s in the first part
03:41 of it or it’s in the check some at the
03:43 end, the all of the that has to match
03:46 and it is essentially mathematically
03:48 statistically impossible for you to type
03:51 an address that is accidental that is a
03:54 legitimate Bitcoin address. So if you
03:55 change any letter or number or any
03:59 series of letters or numbers, basically
04:01 if you change anything about a real
04:03 Bitcoin address, there is a 0% chance
04:06 that it will let you send Bitcoin to
04:08 that address. So you can try it. You
04:10 can, you know, try to send $1 of Bitcoin
04:12 or whatever and then change something
04:14 about the address and it will not let
04:15 you send it. No matter how much you
04:17 change about that address, it will not
04:19 allow you to send the Bitcoin until you
04:21 change it to the way it’s supposed to
04:23 be. Now, you do need to check the
04:26 address before you send it because even
04:28 though it’s impossible to send it to a
04:30 an address that was typed wrong or copy
04:33 and you know copied and pasted only part
04:35 of it or something like that, even
04:36 though that is impossible, it absolutely
04:38 is possible for you to send it to the
04:40 wrong address if you copy and paste the
04:42 wrong address. So when you are ready to
04:45 send the Bitcoin, you do need to check
04:48 and again it’s you do not need to check
04:50 like every letter, but you do need to
04:52 scan over it and make sure that
04:54 generally it looks like you know 80% I
04:58 mean go ahead and check every letter.
04:60 There’s no reason not to check every
05:01 letter. But my point is if you’re if you
05:03 miss a couple, it doesn’t even matter
05:04 because it’s not mathematically possible
05:06 for an address to be uh almost exactly
05:09 the same. But anyway, so read through
05:11 the read through it, check it, eyeball
05:12 it, make sure that it generally looks
05:15 like uh looks like every digit lines up
05:17 with what you think you’re sending it
05:19 to, and then you can safely send it. But
05:21 again, check your destination, make sure
05:23 you have the right address. Sometimes
05:25 people get messed up uh because, and you
05:27 should never do this, never never do
05:29 this, but sometimes people will copy and
05:31 paste addresses out of their uh
05:34 transaction history. uh you should not
05:36 do that because if somebody sends you
05:38 Bitcoin with an address that is similar
05:41 to an address that you that is your
05:44 address and you are copying and pasting
05:46 random addresses out of your transaction
05:48 history, you might accidentally copy and
05:50 paste an address that kind of looks like
05:52 your address, not realize that it’s not
05:54 your address, and then send it to
05:56 someone that is not intended. So, uh,
05:59 anytime you’re generating a Bitcoin
06:00 address, you generate the address at the
06:03 destination, which means you go into
06:04 River and you click receive and it will
06:07 give you a Bitcoin address, and that is
06:08 the address you use. Don’t pull a random
06:11 address out of your transaction history
06:12 or something like that. Go generate a
06:14 new Bitcoin address every time. Uh,
06:17 also, you might be thinking, well,
06:19 that’s cool. I’ll just memorize my
06:21 Bitcoin receive address. You do not need
06:23 to do that because every time you send
06:25 Bitcoin, you need to generate a new
06:28 receive address. The reason for that is
06:31 that Bitcoin is a public ledger. Meaning
06:34 although nobody can tell who is
06:37 transacting, the transactions themselves
06:40 appear on a public ledger. And if you
06:42 are sending uh all different
06:45 transactions to the same Bitcoin receive
06:48 address, someone can eventually figure
06:50 out if they do enough scouring that all
06:52 of those things are going to you. So,
06:54 for example, let’s say that you give a,
06:59 you know, you ask a friend to send you
07:01 $20 and they send you $20 to a Bitcoin
07:04 receive address and later, you know, you
07:07 sell somebody a car for $20,000
07:10 and they send the Bitcoin to the same
07:12 Bitcoin receive address. Now, that
07:14 Bitcoin receive address has $20,20
07:18 in it, which is not a problem except
07:21 that the person who sent you $20 can go
07:24 look at that Bitcoin receive address and
07:26 say, “Wow, I sent them $20. Now they
07:28 have $20,20.”
07:31 And you just there’s no reason for the
07:32 person who sent you $20 to know that you
07:34 have an additional $20,000 in there. If
07:36 you generate a new Bitcoin receive
07:38 address every time you’re sending
07:40 Bitcoin, you don’t have to worry about
07:42 that because the person who sends you
07:44 $20 sees $20. The person who sends you
07:46 $20,000 sees $20,000. And there’s
07:49 nothing that connects the two of those
07:51 things. So, you should always generate a
07:53 new Bitcoin receive address every time
07:55 because it’s it helps with your privacy.
07:58 It doesn’t make it impossible for
08:00 somebody to, you know, put the pieces
08:02 together, but it’s just it’s good good
08:04 Bitcoin hygiene. And also your you can
08:07 generate on any online service and with
08:10 Bitkey an unlimited number of Bitcoin
08:12 receive addresses. It works very similar
08:14 to the uh feature in Apple where every
08:17 time you generate a new um what do you
08:21 call it? Every time you sign up for a
08:22 service, it asks you uh if you use login
08:25 with Apple, it says, “Hey, do you want
08:27 us to share your real email address with
08:29 this service or do you want us to
08:30 generate a random email address that we
08:34 share with this service?” And then we’ll
08:35 forward you the emails they send. That
08:37 way, if anybody, you know, leaks your
08:39 email address or you start getting spam,
08:41 you can find out exactly where it came
08:42 from because you technically use a
08:44 different email address for every online
08:46 service you sign up for. But again, you
08:48 don’t have to worry about that. you just
08:49 have one email address that you monitor.
08:51 Well, it’s the same thing on River or
08:53 Coinbase or BitKey. When you generate a
08:56 receive address, you can generate an
08:57 unlimited number of receive addresses.
08:59 It will all show up as a single unified
09:01 balance uh on your device because you
09:04 know all the different receive addresses
09:06 you’ve ever generated, but nobody else
09:08 does. And that’s the beauty of it is,
09:10 you know, it it pulls it all together
09:12 for you and makes it nice and simple,
09:14 but nobody else knows that. And so to
09:16 the public blockchain, it looks like
09:19 Bitcoin’s going all over the place every
09:21 minute of every day and none of it’s
09:23 linked together. And only you know that
09:25 when five different people sent you
09:27 Bitcoin and it aggregates them all
09:29 together on your Bit Key or on River or
09:31 on Coinbase, only you know that those
09:33 transactions all came to you because
09:36 they all came to different Bitcoin
09:37 receive addresses. Okay, that’s a lot
09:39 more technical detail. I’m sure my
09:41 amazing team will chop this down to a
09:43 much shorter video. So, but let’s go
09:45 through all the details. I like the long
09:47 form videos to have all the details.
09:49 Okay. So, you want to send Bitcoin, you
09:51 need to send it to a Bitcoin receive
09:52 address. That receive address will be
09:55 generated at the destination. If you are
09:57 sending it to yourself, uh sending
09:59 Bitcoin from Coinbase to River, you will
10:01 generate that receive address on River.
10:04 If you are sending Bitcoin from River to
10:06 to Bitkey, you will generate that
10:08 Bitcoin receive address on Bitkey.
10:10 Again, it’s always at the destination.
10:12 All right. Now, once you have that
10:14 Bitcoin receive address, you copy and
10:16 paste it. Well, you copy it at this
10:18 stage. You copy it and then you move
10:20 over to wherever you’re sending it from.
10:23 In this case, if we’re going from
10:24 Coinbase to River, we get the Bitcoin
10:26 receive address from River. We go over
10:28 to Coinbase. We hit send or withdraw.
10:31 They keep changing uh the user interface
10:33 as far as, you know, what you click to
10:35 do what you plan to do. I think they uh
10:37 they change it to withdraw, but it used
10:39 to be send or something like that.
10:40 Anyway, and then it asks you for a
10:42 Bitcoin address and you paste that
10:46 Bitcoin address into there and then you
10:49 check it. So, you check the, you know,
10:52 you flip back over to River and you, you
10:54 know, check the characters there. You
10:56 can also screenshot it if you want. Uh,
10:58 you can screenshot the address from
10:60 River, flip over to Coinbase, uh, paste
11:03 it into Coinbase, and then you can flip
11:04 back and forth between Coinbase and
11:06 River to check the address and make sure
11:07 it’s right. Or if you screenshot it, you
11:10 can flip over to your photos app and
11:12 flip back and forth between your photos
11:13 app and Coinbase to check that the
11:16 Bitcoin address that you got from River
11:19 is actually the one that pasted into
11:21 Coinbase and then you send the Bitcoin.
11:24 Um, and that’s what happens. Now, uh,
11:26 some services, uh, usually they send the
11:29 Bitcoin immediately. The exception to
11:30 that is Coinbase. Coinbase aggregates,
11:34 sends, and does what’s called batch
11:36 processing. Batch processing means you
11:38 don’t process until you have a batch. So
11:41 if a thousand people want to send
11:43 Bitcoin, they’ll wait till a thousand
11:45 people have sent Bitcoin and then
11:47 they’ll process all of those together on
11:49 the blockchain in a single transaction.
11:51 The downside of that approach, the
11:53 upside is it saves Coinbase uh fees
11:55 because the fees on the Bitcoin network
11:57 are a lot cheaper if you’re batch
11:59 processing. Uh the downside is it delays
12:02 the transaction send. So oftentimes if
12:05 you send from Coinbase it will be
12:07 delayed as compared to no it’s usually
12:09 only a minute or two you know sometimes
12:11 five or 10 minutes it uh etc. Also if
12:14 you receive Bitcoin on Coinbase it works
12:16 the same way they do not reflect it in
12:18 your account balance until you are you
12:22 know 10 or 20 minutes have been passed.
12:24 So um if you’re using Coinbase sending
12:27 from Coinbase is you know relatively
12:30 quick but not instantaneous. Receiving
12:33 on Coinbase is typically quite slow
12:35 because Bitcoin uh Coinbase does not
12:37 show up receives on their platform until
12:40 a certain amount of time has passed. But
12:42 other services like River or Bitkey, if
12:45 you send Bitcoin, it happens
12:47 immediately. Boom. You send it, it goes
12:49 out the next second. Uh and then
12:51 typically receives happen the same way.
12:52 If you receive bitcoin on bit key or
12:55 river uh you’ll get a notice that the
12:57 transaction is processing very quick
12:59 quickly typically within a few seconds
13:01 or at least a minute or two. Uh and then
13:04 uh it will be uh you know the
13:07 transaction will be confirmed on the
13:09 bitcoin blockchain which happens
13:11 typically within 10 or 20 minutes. Uh
13:13 but you don’t have to worry about that
13:14 with bit or with river. You find out
13:16 that the transaction went through and is
13:18 processing very quickly. Again on
13:20 Coinbase that typically can take some
13:22 time. Uh, so if you send something to or
13:24 from Coinbase, just realize you might be
13:26 waiting a little while. All right, so to
13:28 recap here, you got your bit you got
13:31 your the equivalent of a Bitcoin email
13:33 address from the recipient. Just like
13:34 email, you always start by getting
13:36 knowing where you want to send it. You
13:38 cannot use email unless you get the
13:40 email address of where it’s sending.
13:42 That’s always the first step. People
13:43 don’t think about it, but that’s the way
13:45 it works. You always get the Bitcoin.
13:46 You always get a bit a email address
13:49 from the recipient first and then you
13:52 send them the email. Bitcoin works the
13:54 same way. You get a Bitcoin receive
13:55 address first and then you send the
13:58 Bitcoin. So once you have done that and
13:60 you’re sending, you know, from Coinbase
14:02 to River or from River to Bitkey or
14:05 whatever you’re doing, you get that
14:06 Bitcoin receive address. Then you go
14:08 over to wherever the Bitcoin is that you
14:10 want to send. You paste it in and then
14:12 you initiate the send. Now, I recommend
14:15 if you’re new to this to send a small
14:16 amount first. So, even if you’re
14:18 planning to send $1,000, start by
14:20 sending $10 and then just get
14:22 comfortable with the process. You can
14:24 see the $10 show up, as soon as you see
14:25 the $10 show up, go ahead and send the
14:27 $1,000. It’s just good to get
14:30 comfortable with it. I want everybody to
14:31 feel comfortable with how this works.
14:32 Now, you might be thinking, “Do I even
14:34 need to learn how to do this?” The
14:36 answer is yes, because this is how
14:37 Bitcoin works. So, if you want to be
14:40 able to send Bitcoin, um, you got to
14:42 know how to do this. Um, even if you use
14:45 an automatic integration with BitKey,
14:48 um, and there there is an automatic
14:50 integration with Coinbase and with Robin
14:52 Hood, that makes it easy to send Bitcoin
14:55 to Bitkey. If you’re going to send it
14:58 back from Bitkey to Robin Hood or
15:01 Coinbase or River or anywhere else,
15:03 you’re going to have to generate a
15:04 receive address and send the Bitcoin
15:06 that way. There’s no automatic
15:08 integration to get Bitcoin off of Bit
15:10 Key. And that is by design because if
15:12 there’s an automatic integration, that
15:14 means there’s something to be hacked or
15:16 scammed. And uh Bitkey does not mind an
15:19 automatic integration to get Bit Bitcoin
15:21 into Bit Key. Uh but if you’re getting
15:23 it back out, then obviously, you know,
15:26 that produces the possibility of hackers
15:28 and scammers. And so that’s why they
15:30 have it locked down where you have to
15:32 use it the traditional way that Bitcoin
15:34 works. Um, so you’re welcome to use the
15:36 automatic integration with Coinbase or
15:39 Robin Hood if you’re trying to get
15:40 Bitcoin on BitKey, but if you need to
15:42 send it back from Bitkey back to
15:45 Coinbase or Robin Hood or River or
15:47 anywhere else, you’re going to have to
15:48 generate a receive address at the
15:51 destination and then send the Bitcoin
15:53 from wherever it is. So, that’s how that
15:56 works. And, um, again, uh, let me think
15:60 if there’s anything else I’m forgetting
16:01 here. generate a receive address on the
16:04 destination, send it from wherever it
16:06 is, wait. If it’s Coinbase, you’ll be
16:09 typically waiting longer. If it’s Ri
16:11 River, Bitkeye, Robin Hood, whatever,
16:13 they they send and receive pretty quick.
16:16 Um, yeah, that’s how that works. It’s a
16:19 super cool technology. Um, it’s, you
16:21 know, pseudonymous, meaning all the
16:24 transactions are visible on the
16:25 blockchain, but nobody can tell who is
16:27 who. uh just always remember to generate
16:30 a new Bitcoin receive address every time
16:33 you are sending Bitcoin. Now the
16:35 exception here is if you have it set up
16:36 on like uh automatic withdrawals on
16:39 River, that’s fine. If if if automatic
16:42 withdrawals from your own account are
16:44 going to the same Bitcoin address over
16:46 and over, that’s fine because again, who
16:48 cares if somebody sees that once a week
16:50 $20 or $100 or $1,000 goes to the same
16:53 Bitcoin address? Nobody, you know,
16:55 nobody knows the difference. So, if
16:56 you’re withdrawing to the same address
16:59 over and over, as long as it’s yours, it
17:01 doesn’t matter. And if it’s on automatic
17:03 withdrawal, you can only put in one
17:05 address anyway. So, that’s totally fine.
17:07 But again, if you’re actually
17:08 transacting in the real world and moving
17:10 Bitcoin around, whether you are sending
17:12 Bitcoin to a Christian missionary in a
17:14 foreign country or you are sending
17:16 Bitcoin to loved ones or you are sending
17:19 Bitcoin to yourself or your BitKey
17:21 device, always generate a new Bitcoin
17:23 receive address every time. And to
17:26 recap, do not send it to hackers and
17:28 scammers. Nobody at Coinbase or River or
17:31 BitKey will ever under any circumstances
17:34 tell you to send your Bitcoin anywhere.
17:37 If anyone ever if they call you on the
17:39 phone, you get a text message, they
17:41 claim your account’s been compromised,
17:43 they claim there’s an unauthorized
17:44 transaction, it doesn’t matter what they
17:46 tell you, nobody, nobody, nobody will
17:48 ever tell you to send your Bitcoin. If
17:52 anyone is telling you to send your
17:53 Bitcoin anywhere, there is a 100% chance
17:56 it’s a scam. Do not do it. Hang up the
17:59 phone. Do not respond to the text
18:01 message. If you need me to, you know,
18:03 fact check something, text me a
18:05 screenshot at 601-2070813.
18:09 That number again, 612070813.
18:13 Or message me on Facebook Messenger with
18:16 a screenshot of whatever it is and say,
18:17 “Hey, is this legit? Is this real?”
18:19 There’s almost a 100% chance I will tell
18:21 you, “Nope, that’s a scam. Ignore it.”
18:24 Uh, just ignore it. So, be careful out
18:27 there. Bitcoin’s amazing. It’s powerful.
18:30 And that is how you send Bitcoin.