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Wallet addresses are common in the crypto realm because they’re directly tied to a crypto wallet. They’re comparable to an email address or a phone number, although they’re lengthier, which intimidates some crypto users as one typo can lead to a complete loss of assets.
In fact, if you’re interested to learn more about wallet addresses or are wondering whether it’s possible to transfer Bitcoin (BTC) to another user or to another exchange, crypto app for beginners, or external wallet without a wallet address, we’ve got the answer for you.
But First, What is a Wallet Address?
In crypto, a wallet address, also called a public key, is a randomly generated, unique set of numbers and letters. They usually contain 25-35 alphanumeric characters that allow users to deposit, withdraw, send, and receive crypto and other digital assets, such as non-fungible tokens (NFTs).
What is BTC?
BTC is a digital currency that can be traded, sent, received, bought, or sold without the involvement or oversight of a governing body or financial institution. BTC remains the most popular, most widely used, and largest cryptocurrency by market capitalization since it was launched in 2009 by the so-called Satoshi Nakamoto.
Why Do Users Transfer BTC?
Crypto users transfer BTC, whether to a friend or to another exchange or wallet, for different reasons. These may include selling assets, sending crypto as a gift, splitting bills, using crypto as a payment method, keeping assets for the long haul, securing assets, and more.
Can I Transfer BTC Without a Wallet Address?
You won’t be able to transfer BTC or any other crypto without a wallet (because it’s the only way to store crypto at this point). Each wallet is assigned a wallet address; therefore, you’ll need a wallet address to complete a transfer. However, many crypto platforms have started using mobile numbers and quick response (QR) codes for transferring assets to make the process much easier for users.
The mobile number leads to the wallet, while the QR code contains the specific wallet address, so users don’t need to paste the wallet address, or even enter the destination tag or network type of the destination of assets. Instead, users just need to scan or upload a QR code or enter a mobile number to transfer crypto.
What is a QR code?
A QR code is a grid barcode that contains pixels. It stores tons of different kinds of data, yet despite its large data capacity, users can access it quickly, which is also why it’s called quick response.
How to Transfer BTC Using a QR Code or Mobile Number
To provide a detailed guide on how to transfer BTC using a QR code or mobile number, we’ll use the process of transferring BTC with mobile app called Kasta as an example.
a. To an exchange or external wallet
- Log in to the app.
- On the home screen, scroll down to see the list of assets and tap Bitcoin.
- Tap the Withdraw icon.
- Look for the QR icon on the Recipient Address bar and tap.
- Upload or scan the wallet’s QR code.
- Manually enter the amount or choose the percentage of BTC you want to transfer (10%, 25%, 50%, or 100%).
- Confirm the transfer with your pin code.
b. To another Kasta app user
- Log in to the app.
- On the home screen, tap the Send icon.
- Scan or upload the recipient’s Kasta QR code or enter the mobile number they use on the app.
- Continue and choose Bitcoin.
- Enter the amount of BTC you’d like to transfer.
- Confirm the transfer with your pin code.
The Bottom Line
Transferring BTC, whether to your own account in a different exchange or wallet, or to another user is easier now than ever. And although wallet addresses still exist, there are options you can use to avoid losing assets because of typing mistakes, such as using a QR code or mobile number when transferring assets. Using these is also faster and more convenient for many platforms, as you can avoid double-checking for typos and skip the process of choosing a network type or memo ID.
