Community post
Sending bitcoin
I'm a bit embarrassed to ask this question but I I want to know before I actually try to do this. I want to send my grandson some bitcoin. Is the purchase price of that bitcoin part of that record and sent along with the bitcoin? I guess the bigger question is what data is included in the ledger entry for bitcoin purchases?
Replies (5)
Both you and your grandson need a Bitcoin wallet. I cannot recommend a single wallet out there, they are all either clunky, slow, or expensive in their transaction fees. I am using Bitcoin Core/QT.
When you send Bitcoin the overall ledger will have the transaction fee recorded, yes. Bitcoin is about holding and transferring wealth, not about anonymity. But most wallets are so basic that they don't show how much was subtracted from the amount as a fee. Exodus lightwallet will show the information, and they charge a high fee for transactions.
I would go ahead with a lightwallet such as Exodus. Do a lot of research beforehand, if your grandson does not have a wallet yet, to try and save a little money on transaction fees. And do multiple transactions, not just one. It will be a good learning experience for both you and your grandson.
Thanks. We already have wallets. lets forget about that for a moment. If I can get a clear answer to this question then everything else will be cleared up for me. What data is included in the ledger that defines the purchase? I assume the keys, purchase price, number of bitcoin, as a minimum. Is there anything else?
I got my answer. Found it myself. Thanks.
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