ETH Holders: How to redeem your BTH using Ledger Wallet
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If you have not yet viewed the FAQ section on BTH redemption at the bottom of the website, please do so before reading this redemption guide. In addition, you can check out more about Bithereum in our white paper.
UPDATE: Ledger has recently released Ledger Live, a desktop application for its users. Ledger Live unfortunately DOES NOT let users send Contract Data along with a transaction, meaning if you wish to redeem BTH with a Ledger device you’ll have to either use MEW or download the Chrome app here if you don’t already have it: https://chrome.google.com/webstore/detail/ledger-wallet-ethereum/hmlhkialjkaldndjnlcdfdphcgeadkkm?hl=en.
You can refer to this link if you wish to connect your Ledger via MEW: https://support.ledgerwallet.com/hc/en-us/articles/115005200009-Set-up-and-use-MyEtherWallet.
After you connect with the Ledger through MEW, refer to the following blog to see how to send the 0 ETH transaction with the BTH Hex address data: https://medium.com/@bithereumnetwork/eth-holders-how-to-redeem-your-bth-using-myetherwallet-232e40ca899c. You MUST also have Contract Data enabled in your Ledger device settings for this to work.
The instructions below are for the chrome app, NOT Ledger Live.
Since Ethereum and Bitcoin interact with transactions on entirely different blockchain implementations and with completely dissimilar address spaces; Bithereum will introduce a mechanism that will give you the ability to redeem BTH proportional to the amount of ETH you have.
To redeem BTH as an ETH holder, you must first send a 0 (zero) ETH transaction along with the your newly created BTH address (as a hex string in the data field) to the ETH redemption smart contract.
The ETH redemption smart contract pairs your ETH address to your BTH address (or pre-spork BTC address) and is referenced by the Bithereum oracle after the fork. The Bithereum oracle triggers the issuance of BTH from the ETH holder BTH allocation generated from the Bithereum genesis block.
IMPORTANT: Once the spork happens, the BTH transferred by the Bithereum oracle to the BTH address (specified in your zero ETH transaction) will be proportional to the balance of your ETH address directly prior to the spork block. For example, if you have a balance of 3 ETH when you send the 0 ETH transaction to the redemption smart contract and decide to send 1 ETH to another ETH address; the amount of BTH you will receive to your BTH address will be proportional to 2 ETH. In other words, the ETH redemption process must be completed for all ETH addresses with an Ether balance prior to the spork block.
Without further ado, here are the steps for redeeming BTH using Ledger Wallet.
Preliminary Step: Enable Contract Data
Regardless of which method you choose to redeem via your Ledger, you MUST go on your actual Ledger device, select Ethereum, and then settings. From there, you need to select “Contract Data”, and then “Yes”. This step is necessary in order to be able to include your BTH Hex Address in the data field.
Step 1: Connect Ledger Wallet
Plug in Ledger device, enter in PIN, and open the Ledger Wallet Ethereum Chrome application. Then select ETH (Ethereum) as the chain to use.
Step 2: Navigate to Send Ether Screen
Once you are in the wallet, select the “Send” icon at the top of the application to bring up the “Send Ether” screen.
Step 3: Provide redemption contract address
Once you have gained access to your account, input the following bithereum redemption contract address into the “To Address” field:
0x3C2C10e5Ecd073D9ee238493D338Ec6e3d7281C6
Enter 0.0 ETH into the “Amount” field before proceeding.
After entering these two fields in, click on “Advanced Mode” at the bottom left of the screen to bring up the field to enter in the BTC address HEX output.
Step 4: Add the hex version of your BTH address to your transaction
Note: If you don’t have a hex version of your BTH address or have not created a BTH address, go here before proceeding with this step.
After selecting “Advanced Mode”, enter the BTC address HEX output that was generated in Step 1, into the “Contract Data” field. If everything has been entered in correctly, you may go ahead with the transaction and click “Send”.
Step 5: Confirm redemption
You can now verify on the site to confirm that your redemption process was successful by looking for your successful transaction directly on the Bithereum redemption smart contract using Etherscan.
Bithereum Network
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