How to Transfer Crypto Using a Mobile App

In fact, many financial technologies (FinTech) and crypto platforms have made crypto as good as cash for users, with features enabling them to transfer crypto to friends, loved ones, and businesses.

Having said that, if you’re new to crypto and want to transfer assets, for whatever reason, this quick guide is for you.

What Does a Crypto Transfer Mean?

Transferring cryptocurrency from one wallet to another, whether the other wallet belongs to a friend, merchant, employee, or to yourself, is called a crypto transfer. Sending and receiving crypto are considered a transfer.

Why Do People Transfer Crypto?

The reasons crypto users transfer assets vary. Some of the most common ones include moving assets to a more secure wallet, selling assets for potential gains or to prevent losses, sending a gift in crypto, and paying a vendor, merchant, or individual.

What Are the Different Ways to Transfer Crypto?

Platforms that allow users to transfer crypto have different processes and means of doing it, so you can also do it in different ways. For instance, you can deposit or withdraw to and from a crypto exchange, automated teller machine (ATM), or crypto wallet; send or receive crypto using a crypto payment app or FinTech platform, or use a crypto gift card or voucher.

How Long Does It Take to Transfer Crypto Using a Mobile App?

The time it takes to complete a transaction depends on which platform you use. Some blockchain networks are faster than others and different cryptocurrencies may also have different transfer times.

How to Transfer Crypto Using a Mobile App

Every platform is different, so how-tos may also differ. Let’s use the process of Kasta, a crypto payment app that allows users to send, receive, and swap crypto, as an example. you can do it in two ways, depending on the recipient:

a. To an external wallet (i.e., crypto exchange wallet, etc.)

1. Sign in to the app.

2. Scroll down the home screen and tap the crypto you want to transfer (e.g., Bitcoin).

3. Tap Withdraw.

4. Paste the recipient’s wallet address or scan their QR code.

5. Enter how much BTC you want to transfer.

6. Complete the transaction with your pin code.

b. To a Kasta user

1.  Sign in to the app.

2.  On the home screen,  tap Send.

3.  Type the registered mobile number or scan the Kasta QR code of the recipient.

4.  Choose the currency you want to transfer (e.g., BTC).

5.  Enter the amount of you want to transfer.

6.  Finish with your pin code.

How Can I Receive Transfers?

Again, we’ll use the process of receiving crypto in the Kasta app as an example:

a. From an external wallet

1.  Sign in to the app.

2.  Tap the crypto the sender wants to transfer from the list of assets (e.g., Bitcoin)

3.  Copy your wallet address.

4.  Send your wallet address to the other user.

5.  Wait for the other user to confirm the transaction.

b. From a Kasta user

1.  Sign in to the app.

2.  Tap the receive icon on the home screen.

3.  Forward your mobile number or Kasta QR code to the sender.

4.  Wait for the assets to reflect in your wallet.

How Much Are Transfer Fees?

Transfer costs may depend on several things, including how much you aim to transfer as well as the platform, the network, and the type of crypto you use. In the Kasta app, transfers are free when the recipient accepts the assets in the same crypto.

However, if they want to receive the assets in a different currency, the transfer fee (called swap fee in the app) will depend on whether they’ve locked up tokens in the app or not. Those who lock up tokens earn interest up to 8% and get lower swap rates.

Final Thoughts

A lot of crypto mobile apps have transfer features like sending, receiving, withdrawing, and depositing crypto. Be sure to choose a platform that is secure, reliable, and has simple UI/UX to ensure a convenient crypto transfer experience.