Sending and Receiving BTC
Last updated
Last updated
To start using the broader functions of Freewallet you will need some BTC to cover the transaction fee’s for many Counterparty functions.
You can send and receive both Bitcoin and Counterparty tokens with Freewallet. Review the Creating addresses and Viewing your Address to make sure you know how to correctly view and copy your public address. Your generated Address #1 is most commonly used as the recipient address to send BTC to, but all of your addresses can be used to send and receive BTC. Once you have some BTC on your address you can start using the most common Freewallet functions.
All transactions will need to be confirmed by the Bitcoin blockchain before Freewallet considers this Bitcoin amount as spendable (if receiving) or fully sent (when sending).
To receive Bitcoin, you will need the public Bitcoin address which can be viewed by clicking the "View Address" button under the Address Actions button on the top right of Freewallet.
Simply use the QR code or text of your address as the receiving address when sending Bitcoin to your address:
You can also view all the addresses connected to your deterministic wallet by clicking the "Change Address" button in the Address Actions dropdown menu.
Bitcoin can be sent to any of the addresses in this list and accessed. It is up to you to decide which address to use when doing any Freewallet functions.
To send BTC from your wallet, simply right click the BTC token icon in the left panel of Freewallet. Then click “Send BTC to…"
Here you will see a prompt for a Simple Send. First verify the Source is the address you would like to send BTC from. You can also click to the right side of your source address on the paper with notepad icon to change your address
The destination Bitcoin address (only BTC) input is for the receiving address of where you are sending the Bitcoin.
The token name should be denoted as BTC here, though this form is also how you send Counterparty Tokens as well.
Make sure the amount field is the correct amount of BTC you wish to send. You can also use the MAX function to send all available BTC in this transaction. In the right side, an estimated USD value is attributed to the amount you are wishing to send.
The Memo field is for any notes you would like to add to the transaction. Be careful as these memos are publicly broadcasted on the blockchain along with your BTC transaction. You can also change the Memo type from Text to Data using the dropdown to the right of the Memo field.
Lastly and most importantly you can set the Fee of your BTC transaction. This is a very important choice and depends on how soon you would like this transaction mined by the Bitcoin network. This price can vary wildly without a few minutes or hours. Please see What BTC fee should I use? for more information on this subject
Please verify all of the information is correct. Then verify it again. - Bitcoin sends are immutable and cannot be cancelled After you are sure this the above inputs are correct, press the “Send Funds” to sign and broadcast the transaction. A popup stating “Confirm BTC Send?” will display showing how much BTC is being sent and to what address
Please verify yet again and click “Yes” when it looks correct. The transfer will be complete once it is verified by the Bitcoin network
Freewallet will also give you the transaction link so you can monitor the transaction while it is being confirmed. This process can take a while so give it some time for your transaction to confirm. Since this is a BTC send you will be forwarded to Blockstream.info to monitor your transaction
This "Check Blockstream.info for transaction" link will take you to a Bitcoin blockchain explorer called Blockstream to review the details of your send.
You can also use any Bitcoin blockchain explorer of your choosing, such as mempool.space
Below is the same transaction, but seen by just looking up the same transaction ID on a different blockchain explorer. For reference the transaction ID is shown with a red box above and below.
