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Bybit Learn
Bybit Learn
Beginner
Mar 17, 2022

QR Code

QR codes, short for “quick response codes,” are a type of digital label that contains embedded information about a specific item. These are designed to be scannable by machines like smartphones, and are characterized by a pattern of black-and-white squares.

What Is a QR Code?

A QR code is a type of machine-scannable label that contains embedded information about the item it’s attached to, such as identifiers or trackers. In general, you’ll need to use devices like smartphones or tablets to scan a QR code and check what information they contain.

Quick response codes, or QR codes for short, typically use four different encoding methods to embed and encrypt the data, specifically alphanumeric, bytes/binary, kanji, and numeric forms.

In most cases, QR codes are used for more convenient financial transactions, whereby users only need to scan the code to send their payment to a specific recipient. The concept is similar in the cryptocurrency industry, where crypto users have QR codes to share their cryptocurrency wallet addresses with others.

This is considered more convenient and seamless than using cryptocurrency addresses, which tend to be long and complex, making them trickier to remember. Aside from your wallet address, you can also add the specific amount needed to send or receive in the code’s embedded information.

How Does Sending Crypto via QR Codes Work?

The process for sending crypto via QR codes is relatively easy and straightforward. In general, the recipient only needs to generate a QR code for the wallet address they want the crypto to be sent to, and then display or send it to the sender.

To send the crypto amount to the recipient, the sender needs to open the wallet app with their crypto balance and select the amount they want to send. Then, they need to choose the option for sending via QR codes and scan the recipient’s QR code. 

In most cases, they can use their device’s built-in camera to scan the code, but they usually have the option to upload the QR code image as well. 

To avoid potential issues, they’ll need to verify the displayed information before confirming the transaction. 

How Do I Generate My Crypto Address’s QR Code?

Like sending crypto via QR codes, the process for generating a QR code is relatively simple. First, enter your crypto wallet address in the given address field, and then indicate how much the sender needs to send to the recipient.

You can then download the QR code and share it with the sender for quicker transactions. You often have the option to customize its appearance, such as changing its colors or adding a frame.