How to Make Crypto Transfers Easy with Your Mobile Phone

By  //  January 25, 2023

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Cryptocurrencies may still be overwhelming for some (especially when they hear mining and other jargons), but many individuals, merchants and businesses already acknowledge them as a day-to-day payment method.

In fact, a good number of crypto users are more comfortable, now more than ever, transferring crypto using their mobile phones for daily transactions. These include paying back a friend, splitting bills, shopping, availing services, sending remittances and more.

Having said that, if you’re new to crypto and would like to send assets to someone else or transfer them to a different wallet, this cheat sheet is made for you.

What Is a Crypto Transfer?

A crypto transfer is the process of sending cryptocurrency from one wallet to another, whether the other wallet belongs to a friend, merchant, an employee, or yourself. Some platforms use the term “send” instead of transfer but their purposes are the same.

Why Do Users Transfer Crypto?

Crypto users transfer assets for different reasons. Some of the most common ones are to send a gift in crypto, pay an individual, vendor, or merchant, move assets in a more secure wallet, sell assets for potential gains or to prevent losses, and more.

Where Can I Transfer Crypto?

Many crypto platforms, such as crypto payment apps, crypto exchanges and crypto automated teller machines (ATMs), allow you to send or transfer crypto from one wallet to another.  Some financial technology (FinTech) platforms also facilitate crypto transfers.

How Can I Transfer Crypto Easily with My Mobile Phone?

The best way to easily transfer crypto with your mobile phone is by using an app with a simple, easy-to-use interface. Let’s use the process of Kasta, a crypto payment app that allows users to send & receive tokens fast, as an example. The app allows you to transfer crypto in two different ways. Here are the step-by-step guides:

Transferring to an external wallet

  1. Log in to the app.
  2. Look for the crypto you’d like to send on the home screen and tap. For instance, Bitcoin (BTC).
  3. Tap the withdraw icon.
  4. Get the wallet address of the recipient and paste. You may also scan the QR code of their wallet.
  5. Type the amount of ETH you want to send.
  6. Enter your pin code to confirm the transfer.
  7. Wait for the assets to reflect in the recipient’s wallet.

Transferring to another Kasta user

If the recipient is another Kasta user, here’s how it goes:

  1. Log in to the app.
  2. Once you’re on the home screen, tap the send icon.
  3. Scan the Kasta QR code or enter the registered mobile number of the recipient.
  4. Choose which crypto you want to transfer. For instance, ETH.
  5. Enter the amount of ETH you’ll transfer.
  6. Confirm the transfer with your pin code.
  7. The recipient will receive the assets within a few seconds.

How About Receiving Crypto?

Here’s how you can receive crypto in the Kasta app:

From an external wallet

  1. Log in to the app.
  2. Once you’re on the home screen, tap the currency the sender wants to transfer. For instance, ETH.
  3. Copy your wallet address.
  4. Forward the wallet address to the sender.
  5. Wait for the other user to complete the transfer.

From another Kasta user

  1. Log in to the app.
  2. Once you’re on the home screen, tap the receive icon.
  3. Send your QR code or mobile number to the sender.
  4. Once the sender has completed the transfer, your assets will reflect in your wallet within a few seconds.

How Much Does it Cost to Transfer Crypto?

Crypto transfer costs may vary per platform, but they’re usually charged at a specific percentage of the transferred amount. In the Kasta app, transfers are free when sending the same currency to a Kasta user. This means if you send BTC to another Kasta user and they also received it in BTC, the transaction is free.

However, if the recipient accepts the transferred assets in a different currency, the swap fees will depend on whether the user has locked up tokens in the app. Those who’ve locked up tokens in the app enjoy lower swap rates.

How Fast Does it Take to Transfer Crypto?

The turnaround time may range from a few seconds to several hours, depending on the platform you use.

Final Thoughts

Many platforms have made it easy for users to complete crypto transfers using their mobile phones. Be sure to choose a platform that’s built with a simple UI/UX and is also secure and reliable for a convenient experience.