Sending Skycoin Like a Pro…
Mastering the “Advanced” settings in the Skycoin wallet
The Skycoin software wallet is secure and intuitive to use, and it’s a place where your Skycoins can generate Coin Hours.
It’s easy to send Skycoin from the wallet; just click “Send”, select the wallet from which you’d like to send Skycoins, paste the address you’re sending to, and the amount you’re sending.
But what about the ‘Advanced’ settings?
There are several more options here. You can still select any of your wallets to send Skycoin from, and since wallets can also contain multiple addresses, there is a field where you can select which of the addresses in that wallet you would like to use.
The destination field is simply the address to which you’re sending your Skycoin, but there is an option below to specify a change address. Just like when you purchase an item at a store, there may be change associated with certain transactions, and if you wish the change to be sent to a different address than the one sending the Skycoin, you can specify that here. (The sending address is selected by default.)
Now what about Coin Hours? As you may be aware, Coin Hours are a parallel currency to Skycoin, generating in your wallet at a rate of one Coin Hour per Skycoin per hour. Coin Hours will soon be the currency used to purchase services and bandwidth on Skywire, Skycoin’s faster and more secure decentralized Internet. You will even be able to exchange Coin Hours for more Skycoin.
When a transaction is sent, by default a portion of the Coin Hours in the associated wallet are sent along with the Skycoin, a portion remains, and (for the time being) a portion is ‘burned’ or destroyed. The advanced settings allow you to specify how many Coin Hours you wish to send with your Skycoin.
There are two ways to do this. By checking the box labeled “Automatic coin hours allocation”, you can use the slider to select the proportion of Coin Hours you send. Sliding to the right will send more Coin Hours, and to the left will send fewer.
If you uncheck the box, you have the option to specify exactly how many Coin Hours you wish to allocate to the transaction.
The green ‘plus’ sign next to the Destination address field allows you to send Skycoin to multiple addresses in a single transaction by simply adding more destination fields below the first one.
Note that these advanced ‘send’ features are also present on the mobile versions of Skycoin Wallet.
It’s your Skycoin, and now you have even more control over what you do with it.
If you liked my writing and would like to contribute to me making more feel free to donate some Skycoin: GCB5KK9LmJzxxxh2hMoKm3HRXwaJe9vRfd
