Please be aware that 'Offline Storage' must be deactivated before sending Bitcoin.
- Please click on the ‘Send’ button under ‘Transfers’ on your Self-Custody dashboard.
- Please enter the amount and the recipient’s wallet address. By clicking on the ‘MAX’ button in the top right hand corner, you can send all of your available balance (taking into consideration the network fee). Alternatively, you can scan the QR code associated with the receiver’s address. Please bear in mind that your browser may need to be given access to your device’s camera.
When the amount has been added, the estimated network fee will be shown, calculated proportionally. Whenever you change the amount, the estimated network fee will be adjusted. The network fee is displayed in both your default FIAT currency and in BTC. You have to pay this network fee in addition to the amount you wish to send. Please find a detailed explanation of the network fee further below.
- Please confirm by clicking on ‘continue’.
- Please click on ‘Confirm’ to proceed.
- Please enter your password.
- On the next screen, please enter the verification code that was sent to the email address associated with your account. Please ensure that you check your spam folder. If you are unable to locate the email containing the verification code, please click on ‘Resend verification code’. A new email containing the verification code will be sent to your email. Please note that you have the option to automatically enable cold storage after the transaction has been initiated.
- Once this code has been entered correctly, click ‘Confirm’ to send Bitcoin.
Please bear in mind that transactions require between 10 and 20 minutes to be confirmed. You will be notified via email once the transaction is confirmed.
Please be aware that Bitcoin transactions are not immediately executed. Each transaction must be verified in the blockchain before it is ultimately confirmed. If you attempt to execute a transaction right after an unconfirmed one, an error message will be displayed. Please wait a few minutes until your previous transaction has been completed. If you need further assistance, please contact our support team at any time.
Understanding Transaction Errors
Amount too low: The transaction cannot be initiated because the amount of Bitcoin you are attempting to send is lower than the minimum amount required.
Insufficient funds: The transaction cannot be initiated because you do not have sufficient funds.
Insufficient funds to cover network fees: The transaction cannot be initiated because you do not have sufficient funds to cover the network fees required to process the transaction.
A network fee applies to all transactions sent to external cryptocurrency addresses to ensure they are processed on the network. The network fee is not paid to us. The final network fee can only be confirmed once the transaction is done, hence during the sending process the fee that is displayed is always an estimation. The final network fee can still change. Please be aware that the network fee is paid in addition to the amount you send to another Bitcoin Account.
Sign a Transaction
In a Multisig Account, a transaction requires a second signature for processing. Co-signers will receive a notification via an email and in-app message to sign the transaction when once it has been initiated. Once one of the co-signers signs the transaction, you will be notified. Please note that there is a 24-hour time limit to sign the transaction. If the limit expires, a new transaction must be initiated. For security purposes, only one pending transaction can be signed at a time. Please follow the steps outlined below to sign a transaction:
- In the email you received to sign the transaction, please click on ‘Sign transaction’.
- Please verify the transaction details by clicking ‘Review transaction’. (Note: You can also access this via the notification section of your dashboard in case you close the screen.)
- Click on ‘Sign’ to proceed.
- Now, please enter your password.
- On the next screen, please enter the verification code that was sent to the email address associated with your account. Please ensure that you check your spam folder. If you are unable to locate the email containing the verification code, please click on ‘Resend verification code’. A new email containing the verification code will be sent to your email.
- You have successfully signed the transaction.