WEBVTT 00:00.510 --> 00:00.900 Okay. 00:00.900 --> 00:07.410 So now that we know how to create a wallet and how to transfer money into that wallet, in this lecture, 00:07.410 --> 00:12.060 I want to show you how to transfer bitcoins from one wallet to another. 00:12.090 --> 00:14.610 Now, this is useful in so many scenarios. 00:14.610 --> 00:19.830 You might want to transfer from one wallet that you own to another for various reasons. 00:20.280 --> 00:22.770 You might want to transfer money to a friend. 00:22.770 --> 00:28.410 You might want to transfer money to a website or to a person for a service that they're going to give 00:28.410 --> 00:28.830 you. 00:28.860 --> 00:34.590 So in this lecture, we're going to see how to transfer money to and from an electron wallet. 00:35.340 --> 00:41.910 Now, one thing you should always keep in mind when using Bitcoins, the Bitcoin ledger or the whole 00:41.910 --> 00:43.800 blockchain is public. 00:43.800 --> 00:50.250 So all the transfers on the blockchain are visible to anyone in the world. 00:50.280 --> 00:57.420 Therefore, you should never transfer money to and from an account that you do not want to be linked 00:57.420 --> 00:57.990 to. 00:58.440 --> 01:05.250 Whether this account is a suspicious account or if it's an account that ties into your real identity, 01:05.250 --> 01:12.180 regardless of what the reason is, never send or receive bitcoins from accounts that you do not want 01:12.180 --> 01:19.620 to be linked to because the ledger is public and all transactions are visible to anyone in the world. 01:20.430 --> 01:22.680 So let's go to our electron wallet. 01:22.680 --> 01:23.640 As you can see here. 01:23.640 --> 01:27.780 Now, I've already logged in to the two wallets that I created previously. 01:27.780 --> 01:34.560 So on the left we have my legacy wallet, which I transferred money to using the Bitcoin ATM. 01:34.980 --> 01:39.030 And on the right I have the original wallet that I created. 01:39.030 --> 01:43.170 And as you can see, the balance in here is zero micro bitcoins. 01:43.920 --> 01:46.310 So I've touched on this before. 01:46.320 --> 01:52.680 If you want to receive money into your wallet, you go to the receive tab and you either share the QR 01:52.680 --> 01:54.720 code or the address in here. 01:54.720 --> 01:58.320 Both can be used to send money into this wallet. 01:58.530 --> 02:02.430 Now there is nothing wrong with sharing the address. 02:02.460 --> 02:06.420 People cannot take money out of the wallet using your address. 02:06.420 --> 02:10.110 They can only send money to it, so it's perfectly fine. 02:10.110 --> 02:13.470 The only thing that you should never share is the seed. 02:14.100 --> 02:16.320 So I'm going to copy this address. 02:17.330 --> 02:21.350 And we're going to go to the wallet that we want to send the money from. 02:21.470 --> 02:28.490 We're going to go to the send tab and we're going to set the pay to address to the address that we want 02:28.490 --> 02:29.870 to set the money to. 02:30.470 --> 02:38.930 You can also use this icon right here to pick a picture for a QR code, but we're only using an address, 02:38.930 --> 02:39.830 as you can see here. 02:39.830 --> 02:41.960 So there is no need for the QR code. 02:42.290 --> 02:45.380 You can set a description for this transfer. 02:45.410 --> 02:46.620 We'll just say test. 02:46.640 --> 02:49.280 You don't have to set this next. 02:49.280 --> 02:53.870 You need to set the amount in micro bitcoins that you want to transfer. 02:54.080 --> 03:03.560 So as you can see in my balance, I have 1.544 micro bitcoins and let's say I want to transfer 0.544. 03:04.610 --> 03:06.620 Next, you want to select the fee. 03:06.860 --> 03:12.090 This will decide how much you will pay for this transfer to take effect. 03:12.110 --> 03:14.800 The more you pay, the quicker the transfer. 03:14.810 --> 03:17.530 So you can use this slider to adjust it. 03:17.540 --> 03:23.750 And as you can see, as you move it right now, we selected the minimum amount of fees to pay for the 03:23.750 --> 03:29.660 transfer, but our transaction will be added within the next 25 blocks. 03:29.660 --> 03:35.060 So it will take a while until the money arrives into the destination wallet. 03:35.990 --> 03:39.650 Obviously the more you pay, the quicker the transaction is. 03:39.650 --> 03:46.160 And as you can see, if we set it to the highest, you can see that the transaction will be added in 03:46.160 --> 03:47.270 the next block. 03:47.480 --> 03:51.620 So this guy right here will receive his money very, very quickly. 03:52.010 --> 03:57.980 So this is nice, but it doesn't tell us exactly how much we will pay for the transaction. 03:57.980 --> 04:00.890 We just know that we'll pay the most possible amount. 04:01.370 --> 04:08.960 If you want to know exactly how much you're going to pay for the transaction, you can go to tools preferences. 04:10.030 --> 04:11.500 And in the fees tab. 04:11.500 --> 04:14.290 Make sure you check edit fees manually. 04:15.310 --> 04:21.310 I'm going to close this and as you can see right now, it's showing us how much exactly we're going 04:21.310 --> 04:23.510 to pay as a transfer fee. 04:23.530 --> 04:30.550 So when the slider is set to the highest, we're going to pay 0.2 micro bitcoins for the transfer. 04:31.480 --> 04:33.970 I'm going to reset this to the middle. 04:33.970 --> 04:39.580 And as you can see, our transaction in this case will be added within the next five blocks and we're 04:39.580 --> 04:43.660 going to pay 0.14 micro bitcoins. 04:44.530 --> 04:52.180 Once you're happy with all of the parameters, you can click on preview to get a summary of the transaction 04:52.180 --> 04:54.300 of all the information that you filled. 04:54.310 --> 04:58.330 Or you can just click on send to send the payment. 04:58.930 --> 05:04.060 Now, before it allows you to send this, it's going to ask you for the password that you set when you 05:04.060 --> 05:05.410 created this wallet. 05:07.130 --> 05:11.300 And as you can see right now, it's telling us that the payment is sent. 05:11.420 --> 05:18.260 And if you look in here and in here on the top, you can see that we got a new transaction and we can 05:18.260 --> 05:19.880 see it here in the history. 05:20.150 --> 05:24.420 The only problem is right now, it's telling us that it is not confirmed. 05:24.440 --> 05:28.700 That means that the payment has still not been verified yet. 05:28.940 --> 05:33.380 Give it a few minutes and it should change into confirmed.