Bizanc User Guide — Electrum (BTC)

Bizanc
Electrum

1.0 Bitcoin (BTC) Mainnet

1.1 Prerequisites

2 Setup Electrum

Open a Icon on your desktop.

if is does not work, open up terminal and type electrum.

Terminal Console

The Electrum — Install Wizard should be open.

Choose your wallet name, if you provide any, wizard gives default_wallet as a standard name.

Electrum offers 4 options to create wallets, in our case a Standard wallet is enough.

Next, you are able to setup your wallet using:

  • Create a new seed;
  • Import a seed;
  • Use public or private keys;
  • Use a hardware device.

In our example, selecting generating seed there will be a new seed to be store.

Setup a password to protect your seed.

Finish, you are free to use Electrum Bitcoin.

3 Using Electrum (BTC)

In the history tab you can view your balance and the amounts transferred or received from your wallet.

Historical Transactions

3.1 Send payments

In the send tab, you can send the quantity of bitcoins to any wallet in the network, as shown in the figure below.

Send Payments Electrum

3.2 Payment receive

In the Receive tab, you can share your public key to receive quantity of Bitcoin of your choice.

Receive Payments Electrum

4 Customization

The buttons shown in the figure below are used to customize the electrum, as such switch the passwords and check connectivity with in mainnet.

Config Settings

5 Deposit funds (BTC)

Note: Electrum must be installed and logged in, otherwise go back to begin.

Clicking on the Deposit button, enter the public key of Bizanc, enter the desired value and generate the deposit, as indicated in the figure below.

Deposit ETH / ERC20 Tokens

Copy and paste the value generated from the Bitcoin Transaction tab:

346765436e61363754476b6452435364326971395950773736786f694e517668574552 57316e61746a4c4c62, 0 mzVr7Pk8gjWQBGqkGdcn5MZRS9ToxPWTXj, 0.001

Go to the Electrum, on the Send tab and paste in the Pay to field.

Send BTC deposit to Bizanc

When you click send, enter the password of the Electrum

Password to unlock keys and sign transaction

***Troubleshooting — Problem with Bitcoin deposit ? Go to section 5.1 to solve it***

*************************************************************

You will receive a confirmation transaction.

Payment Sent

Wait for the blocks in the Bizanc and Bitcoin network to be confirmed. It will have 0.001 Bitcoin credited in the Bizanc wallet, as shown in the picture below.

Bizanc Wallet Balance

The deposit has been successfully completed.

5.1 Troubleshooting — Problem with Bitcoin deposit ?

If you are facing this problem ?

Watch this tutorial: https://www.youtube.com/watch?v=d986n7zBDdY

or

Follow the instructions below to deposit BTC correctly.

Let’s start, we have separate this section in 5 steps:

  • Step 1 — Export, Save transaction file and copy transaction hex to Console
  • Step 2 — Copy the key into payment section
  • Step 3 — Generate the correct hex transaction.
  • Step 4 — Sign the generated transaction
  • Step 5 — Broadcast the signed

Step — 1

Into Electrum, click on preview.

Then, click on “Export” Button and save the transaction file.

Now, go to the transaction file, and open it, and copy the content of “hex”.

You need to copy with “”, see the example:
“455054..……30900”

Now, go to Electrum console and type the follow instructions:

tx = “455054..……30900”

Step — 2

Click in “Send” button into your electrum, and copy the key.
“6a314….4548"

Now, get back to Console and add the key variable

key = ““6a314….4548””

Step — 3

Now, copy and paste the follow code

tx2 = tx.replace(hex(int(len(key) / 2)+1).replace(‘0x’,’’)+hex(int(len(key) / 2)).replace(‘0x’,’’)+key, hex(int(len(key) / 2)).replace(‘0x’,’’)+key)

Step — 4

To sign transaction type:

tx3 = signtransaction(tx2)

Type the password and click in OK

Step — 5

Type “broadcast(tx3)” on console

broadcast(tx3)

You should receive a hash like this one “a2ce……bc59”

your deposit is done.

6 Withdrawals funds (BTC)

To make a withdrawal of Bitcoin, place the public key of the wallet, and indicate the value desired for withdrawal and click on withdraw.

Withdraw Bitcoin funds

Then, sign the withdraw transaction.

Sign Withdraw Transaction

After mining the Bizanc blocks and Bitcoin, your funds will be credited in the wallet of your nomination in the bitcoin network.

Thanks for reading.

Bizanc

Written by

Bizanc

Decentralized Finance is a decentralized cryptocurrency exchange platform that allows users to trade Bitcoin, Ether, ERC20 Tokens. https://bizanc.io

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