Lite client: How to deposit and withdraw Bitcoin

Waves allow you to hold and transfer Bitcoin on its blockchain. This works through a so-called Multigateway approach: Bitcoins are sent to a user's deposit address available in the Lite Client and after the deposit the user receives a Bitcoin token (wBTC) on the Waves blockchain. Every single Bitcoin token is backed 1:1 with a real Bitcoin.

Read more about What is a payment gateway and how does it work?

How to deposit Bitcoin

In the Wallet tab of the Lite Client, click on DEPOSIT in the Bitcoin box. The following pop-up will appear:

How to deposit through a Bitcoin transfer

The process is straightforward - just copy paste the shown Bitcoin address and send a payment to it. Alternatively, you can enter the amount you want to send in the box a little further down and scan the QR-code for the transaction. Please note that the minimum deposit is 0.01 Bitcoin

The deposited amount of Bitcoin will be sent to your Waves account in the form of a Bitcoin token (wBTC) within a few minutes. 

Processing can take up to 120 minutes.

How to deposit through credit card

The Lite Client also supports small purchases of Bitcoins in Euro and US Dollar (minimum 30 EUR/USD, maximum 200 EUR/USD) through credit card. If you want to do so, click on Buy Bitcoin from your credit card and a new pop-up appears:

Define the amount in EUR or USD you want to spend, and the client automatically returns you the amount of Bitcoin you are going to receive after payment. After you have done so, click on BUY, and you will be forwarded to our gateway partner Indacoin. Go through the verification and payment process, and you'll receive your Bitcoins within a few minutes. 

Please note that the commission on credit card purchases is comparably high and is mainly intended for beginners who don't want to go through the hassle of buying Bitcoins through centralized exchanges.

How to withdraw Bitcoin

In the Wallet tab of the Lite Client, click on WITHDRAW in the Bitcoin box. The following pop-up will appear.

Simply enter the Bitcoin address you want to withdraw to as well as the amount of Bitcoin. Please note that the gateway charges 0.001 BTC for the network fee as well as 0.001 WAVES. After you have completed the form, click on WITHDRAW and you'll receive Bitcoin within few hours at maximum.

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