Bithumb Global STG Trading is Now Live!
You can now buy and sell STG on Bithumb Global. If you haven’t done so already, head here to open an account. But it’s important that you follow the instructions for safely depositing STG, using the latest version of our wallet. Read on to find out more.
Bithumb Global are currently only accepting public STG payments for deposits, although we’re working on a way to automate private payments. If you send a private payment, your STG may be lost. But don’t worry, it doesn’t take much effort to ensure that your privacy is protected, even when making publicly viewable transactions with an exchange.
First things first: To send or receive a public payment, you should download the latest version of our GUI wallet. There you’ll see a new “PAYMENT TYPE” field in the “Send” menu, with three options: “Send payment”, “Send as public payment” and “Make public tokens private”.
“Send payment” is still the default private option. If you’re sending a payment to another person, or to another account you control, this is the option you should use. But DO NOT use this when sending to an exchange.
“Send as public payment” is a new option where your payment will be recorded publicly on the Stegos blockchain. This is much like a Bitcoin transaction: people looking at the blockchain will be able to see the addresses involved and the amount sent.
For privacy reasons, we highly recommend using a separate account for sending and receiving your public payments, to avoid leaking metadata.
When you receive STG from an exchange, it will also be a public payment, which means you will receive publicly viewable UTXOs. The Stegos wallet will now show you how much of your balance is made up of public tokens.
This is where the final option, “Make public tokens private,” comes in. By selecting it, you will send these public tokens to yourself. In doing so, they will pass through Stegos’ privacy features and become private again. To ensure privacy for everyone, this is the ONLY thing you can do with public UTXOs. You cannot pay them to another account.
This requirement that the public portion of your balance can’t be sent on might seem a little strange, given that deposits to exchanges need to be public, but the important thing is to keep STG untraceable and unlinkable — for everyone. By insisting on making public coins private, even if they’re going to be made public again late, this breaks the easy-to-follow transaction chains which prevent regular cryptocurrencies from being private.
Your wallet will handle all this for you, though: just make sure you’ve selected the correct option.
For advanced users, you can also send public payments from the CLI. Just type:
PAY [ADDRESS] [AMOUNT] [COMMENT] /public Your payment will be sent publicly.
If you have any public coins you need to make private, just type:
cloakYour public coins will be converted into private ones, and you’ll be free to send them again, safe from prying eyes.
Happy trading!
The Stegos Team
