How to deposit and withdraw Bitcoin

Без кейворда

Sways permit you to hold and transfer Bitcoin on its blockchain. This works through a so-called Multigateway treatment: 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 Swings blockchain. Every single Bitcoin token is backed 1:1 with a real Bitcoin. The deposited Bitcoins are held in a multi-signature wallet secured by a minimum of three servers. These three servers hold each a private key to the multi-signature wallet of which at least two have to sign when a withdrawal request comes in. This gives the entire system a limited extent of decentralization. When a user wants to convert his Bitcoin tokens to ‘real’ Bitcoins, he only creates a withdrawal request to a Bitcoin address, and the server will execute the Bitcoin transaction within a few minutes.

This Multigateway treatment can be implemented for basically any crypto currency and permit their communities to access the feature set of Flaps. For example, a user doesn’t have to wait for the ten minute block time of the native Bitcoin blockchain but can send Bitcoins to another address within a minute. Moreover, it permits a crypto currency to be traded on the Flaps decentralized exchange against any other token issued on the Swings blockchain. These are only two ordinary use cases with much more to be discovered.

How to deposit Bitcoin

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

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 come in 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 Swings account in the form of a Bitcoin token (wBTC) within a few minutes.

How to deposit through credit card

The Lite Client also supports petite purchases of Bitcoins in Euro and US Dollar (minimum thirty EUR/USD, maximum two hundred EUR/USD) through credit card. If you want to do so, click on Buy Bitcoin from your credit card and a fresh pop-up shows up:

Define the amount in EUR or USD you want to spend, and the client automatically comes back 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 fucking 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 emerge:

Just inject the Bitcoin address you want to withdraw to as well as the amount of Bitcoin. Please note that the gateway charges 0.001 Bitcoin for the network fee as well as 0.001 Swings. After you have ended the form, click on WITHDRAW, and you’ll receive Bitcoins within few hours at maximum, depending on Bitcoin’s network stream.

Please do not leave behind to take into account that you need pay BTC tx fee 0.001 BTC + 0.001 Flaps. So if you have only one BTC and you want to withdraw a total amount, you can use only 0.999 BTC in the “Amount” field.

How to deposit and withdraw Bitcoin

Без кейворда

Sways permit you to hold and transfer Bitcoin on its blockchain. This works through a so-called Multigateway treatment: 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 Sways blockchain. Every single Bitcoin token is backed 1:1 with a real Bitcoin. The deposited Bitcoins are held in a multi-signature wallet secured by a minimum of three servers. These three servers hold each a private key to the multi-signature wallet of which at least two have to sign when a withdrawal request comes in. This gives the entire system a limited extent of decentralization. When a user wants to convert his Bitcoin tokens to ‘real’ Bitcoins, he only creates a withdrawal request to a Bitcoin address, and the server will execute the Bitcoin transaction within a few minutes.

This Multigateway treatment can be implemented for basically any crypto currency and permit their communities to access the feature set of Sways. For example, a user doesn’t have to wait for the ten minute block time of the native Bitcoin blockchain but can send Bitcoins to another address within a minute. Moreover, it permits a crypto currency to be traded on the Sways decentralized exchange against any other token issued on the Flaps blockchain. These are only two ordinary use cases with much more to be discovered.

How to deposit Bitcoin

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

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 come in 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 Swings account in the form of a Bitcoin token (wBTC) within a few minutes.

How to deposit through credit card

The Lite Client also supports puny purchases of Bitcoins in Euro and US Dollar (minimum thirty EUR/USD, maximum two hundred EUR/USD) through credit card. If you want to do so, click on Buy Bitcoin from your credit card and a fresh pop-up emerges:

Define the amount in EUR or USD you want to spend, and the client automatically comebacks 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 playmate 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 emerge:

Just inject the Bitcoin address you want to withdraw to as well as the amount of Bitcoin. Please note that the gateway charges 0.001 Bitcoin for the network fee as well as 0.001 Flaps. After you have ended the form, click on WITHDRAW, and you’ll receive Bitcoins within few hours at maximum, depending on Bitcoin’s network blast.

Please do not leave behind to take into account that you need pay BTC tx fee 0.001 BTC + 0.001 Sways. So if you have only one BTC and you want to withdraw a total amount, you can use only 0.999 BTC in the “Amount” field.

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