The Eidoo wallet app also supports the Bitcoin blockchain! The following is a guide on how to manage BTC on its native chain with Eidoo.
How to receive BTC
Here are the two ways for you to see your BTC address:
- Tap on the icon of Bitcoin from the "Crypto" homepage. Here, you will have a view of the balance together with the buttons to receive it and send it, and the recent history of the transactions involving it, if any. Tap on the first button, the one with the symbol "+". You will be presented to a page with an address you can share, see on Blockstream or copy, and a QR code representing it.
- Alternatively, open the app, be sure to be on the "Crypto" homepage and tap on the symbol of the QR code under the balance (1). Then, select the Bitcoin blockchain (2). You will be presented to a page with an address you can share, see on Blockstream or copy, and a QR code representing it (3).
Now, you shall go to the wallet from which you want to send the funds and paste the address you copied or scan the QR code you see on Eidoo and approve the transaction.
For the transaction to go through, it is crucial that both the sender and the receiver are using the Bitcoin blockchain. If you try to send funds to a non compatible address, you will lose your funds irreversibly.
Please note that every time you will receive funds, your Bitcoin address will change in order to increase privacy. Remember that you will be always able to re-use an old address, and that your total amount of coins will be displayed on top of the Bitcoin asset page. Even if the address you use to receive funds will change every time, you will always have complete control of all your bitcoins.
Eidoo is not responsible for any loss of funds. Please be careful and always double check or try out the addresses involved in the transaction.
How to send BTC
First of all, be aware of the fact that the transfer of crypto has to be initialized and finalized on the same blockchain. This means that the BTC can only be transferred successfully to another Bitcoin address, as transferring BTC to another blockhain could cause an irreversible loss of funds.
To transfer Bitcoin to another address:
- From the Crypto homepage, tap on Bitcoin (1), then on the arrow pointed rightwards (2).
- On the following page, you can see all the options Eidoo has made available:
- you can insert (paste is advised) an external wallet address
- you can insert a FIO Crypto Handle instead of a wallet address, if available
- you can choose to send crypto to an internal account by clicking on it from the list
- you can insert one’s address simply by scanning the QR code representing it
Once you insert an address and you are sure it is one of a wallet of the same blockchain as the one you are using to send the funds, click on “Continue” (3):
- now, please select the amount of BTC you wish to transfer. You can do so by writing the amount yourself or by choosing the percentage over the total you hold through the buttons below. Then tap on “Continue” (4)
- on the “Review Transaction” page, you have a recap of the information of the transaction as well as an “edit priority” button to choose the maximum amount of fees you want to pay. A higher priority means that the transaction is likely to be broadcasted faster. Feel free also to decide yourself the sat/vB fee through the advanced settings (5).
✅ Done, your transaction has been successfully sent. It will now be executed according to the normal timelines of the Bitcoin blockchain.