Bitcoin is the most popular cryptocurrency in the world, but it can still be confusing for many new users. It’s normal for new users to have questions and here at Zumo we like to make smart money simple.
After you’ve created your account, and learned how to buy and sell Bitcoin, the next stage in crypto proficiency is learning how to safely send and request Bitcoin using Zumo.
Zumo provides you with your personal non-custodial wallet; only you have complete ownership over your Bitcoin. We can’t borrow, invest, or loan it. We have no access or control over your cryptocurrency, so please make sure to securely store a copy of your Backup Phrase.
When you send Bitcoin to a different account there’s a small transaction fee paid directly to the blockchain miner who processes the transaction. You can choose whether it’s a High, Medium, or Low fee, with the price affecting the transaction speed. This fee isn’t charged by Zumo, and we don’t receive any revenue from it.
There are 3 ways that you can send Bitcoin from your Zumo wallet:
You can access your Contacts list by tapping Send on the bottom menu. Don’t worry if it’s empty, it’s easy to add your friends and family. Simply tap on the search box, enter their username, tap ready, and then tap Add next to their username.
To send Bitcoin to a contact, tap on their name to select their account, and then tap Send to access the transaction screen. Click on ETH and select BTC to change the currency, now enter the amount of Bitcoin you’re sending, and select your Transaction speed. Tapping the ‘Next’ button prepares those details, and on the next screen you can double-check the transaction before tapping ‘Send’ to confirm.
On your Contacts list there is a light-blue square button in the top right-hand corner. Tapping this icon activates your camera and the QR Code Scanner.
Simply aim your camera towards a Bitcoin QR code to automatically enter their Wallet address. Successfully scanning a QR code will open up the transaction screen, and from here you can enter the amount of Bitcoin you wish to send. Tap ‘Next’ and then ‘Send’ to
How to send bitcoin:
Since the Bitcoin in your wallet is 100% owned by you, it is possible to send your Bitcoin to any external account. To do this please tap Send on the bottom menu, and then tap the light-blue ‘Withdraw funds’ button next to the title Contacts. Then tap External Wallet Address, and enter the Wallet address of the account you are sending Bitcoin to.
After double-checking that you have entered the correct address, tap Send to open the transaction screen. Here you can enter the amount of Bitcoin you wish to send, and select the transaction speed. Just like the other methods, tap Next and then Send to confirm the transaction.
Congratulations! It really is that easy to send funds to Zumo users.
Requesting Bitcoin from a fellow Zumo user is also quickly done in a few simple steps.
To request Bitcoin from a contact, the first thing you need to do is to tap on their name in your Contacts list.
Next to the ‘Send’ button you should also see a white ‘Request’ button. Tapping ‘Request’ opens up a transaction screen, and the first thing to do is tap ETH and change the requested currency to BTC.
After entering the amount of Bitcoin you wish to request, simply tap the ‘Request’ button to alert your contact and make it easy for them to quickly send your funds.
Make sure to keep an eye out for our next article, we will be walking you through how to customise your Zumo account!