How purchases and payments work

Stage 1: buy the exact currency and network

Choose the currency the recipient requested and the network they support. A purchase provider may let you pay by card, mobile wallet, bank method, or cash. The provider can charge a purchase fee or include its cost in the quoted exchange rate.

Read how much cryptocurrency will arrive after all purchase charges. If the provider cannot send on the requested network, choose a different provider rather than substituting another network.

Stage 2: receive it in the intended wallet

The destination can be your personal wallet or, when the recipient agrees, the recipient's wallet. Copy the receiving address from the exact currency and network screen. Include a destination tag or memo whenever the recipient provides one.

Buying into your own personal wallet gives you a chance to verify receipt before making the final payment. Buying directly to someone else can reduce one transfer, but leaves less room to correct misunderstandings and may be restricted by the purchase provider.

If the provider uses a hosted balance, withdraw it to the intended external wallet. Check the withdrawal network and fee separately from the original purchase.

Stage 3: check and send the payment

From your wallet, enter or scan the recipient's details. Before approving, compare:

1. the requested currency;
2. the same network at both ends;
3. the full destination address;
4. any required destination tag or memo;
5. the amount the recipient expects;
6. the network fee shown by the wallet.

Only approve when every item matches. Cryptocurrency transfers are normally irreversible, so a bank or card company cannot cancel a wallet transfer after you send it.

Fees can appear more than once

A purchase fee pays the purchase provider. A withdrawal fee may apply when moving funds out of a hosted account. A network fee pays for recording the transfer. These are separate costs, even if a service presents them together.

Network fees change. Your wallet should show the current estimate before you send. Make sure the remaining balance is enough to cover both the payment and fee.

What confirmations mean

After a transfer is submitted, it can first appear as pending. A confirmation means the network has included it in its record. Recipients may wait for several confirmations before treating the payment as complete.

Do not send a second payment only because the first remains pending. Check its transaction reference in your wallet and ask the recipient what confirmation status they require.

A calm way to reduce risk

For a new wallet, provider, network, or destination, start with an amount you can afford to lose when the extra fee and timing make sense. About 5 USD or 5 EUR worth of cryptocurrency can be a useful first test, although provider minimums or network fees may require a different amount.

Wait for the test to arrive in the intended wallet. Then check the final transfer again from the beginning. A successful test does not guarantee that a later address, network, or amount is correct.

Learn who is involved so you know which party can answer each kind of question, or continue with the step-by-step guide to pay from a personal wallet.