Send & Receive LiteBitcoin — LBTC with Electrum Android Wallet
You have probably heard of Bitcoin but do you have Bitcoin?
No matter it is a yes or nope, this post is about a new crypto that you might love — LiteBitcoin (LBTC).
“Bitcoin reborn as LiteBitcoin, it is an experimental new digital currency that enables instant payments to anyone, anywhere in the world.
LiteBitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.
LiteBitcoin is also the name of the open source software which enables the use of this currency.” http://lbtc.info/
OK, It’s enough for the introduction. Let go to the main part — Send and Receive LBTC using Electrum Android wallet.
Before you go, make sure you have downloaded the latest Android wallet here:
I assume you are familiar with the wallet setup (create the wallet, backup the seed and the Pincode)
Send LBTC to your friends
It is super easy to send LBTC to someone using Electrum wallet.
- Open the wallet
- Swipe to the tab Send
- Using the Paste button to paste the received LBTC address (or scan the QR code, this requires the zxing app to be installed)
- Enter the LBTC amount would be sent
- Enter some description text (optional)
- Press Pay
- Enter the Pincode (remember the code when you setup the wallet?)
- OK and you are done
Receive LBTC
You are receiving LBTC, you do nothing but waiting for it. :)
Common questions
- After I send my LBTC, my wallet’s history shows the transaction for the fee only?. My friend’s wallet does not show the received LBTC?. What should I do?
Don’t worry. This might be the lack of miners at the time you send the LBTC. Everything is working well as you expected, you can check the Block Explorer (paste you friend wallet to the search bar) to make sure your transaction is executed correctly.
- So when exactly will my friend receive my LBTC?
It’s hard to tell but It is going to be done sooner or later depends on the miners.
From my experience, sending LBTC from Yobit (I only use Yobit at this time) is super fast. I almost instantly receive it on my Electrum android wallet.
- My friend wallet shows the received LBTC but It keeps saying Unconfirmed?
This might be a minor bug on the wallet. You might need to force the wallet to re-sync the block chain header file. Simply delete the file at the location: your_sd_card_path/org.electrum_libtc.electrum_libtc/blockchain_headers
After delete that file, reopen the wallet to make it sync the latest block chain headers data. Your transaction would be shown as confirmed this time.
- I want to withdrawal my LBTC from Yobit (on this exchange, the ticker is LBTCX), but get Wallet status: Delayed (xxx blocks). Should I withdrawal?
You still could withdrawal your LBTC but you have to wait a little bit longer for the transaction to be visible so It is not recommended to withdrawal at this status. The main reason for this delayed status is that there is no new block get mined for an amount of time. That’s it.
The best practice is to wait for the wallet to be green/active.
Enjoy it :)
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LBTC: 2H3EfAWKHDiQw4aqhjQg34itN2BPpZ3vRs
