Sending / Receiving XCP and User Created Tokens
Last updated
Last updated
You can send and receive both Bitcoin and Counterparty tokens with all 20 addresses that created when generating a new 12-word phrase.
To start using the broader functions of Freewallet, first simply send some BTC to your address of choice (most likely Address #1) to make sure you can cover the BTC cost of broadcasting transactions to use Counterparty functions.
It is recommended to send enough to cover a few transactions as the price of BTC fee’s may fluctuate and read over the Viewing, Creating and Importing Addresses as well as the Sending and Receiving BTC sections.
If you are receiving XCP or any Counterparty asset to your address, the process is the same with BTC. Simply send the asset (using a Counterparty recommended wallet) with the receiving address being any of your BTC generated wallet addresses (most likely Address #1)
If the Counterparty token has already been sent and you are waiting for it to appear in your account. You can look up your public BTC address on a Counterparty block explorer like Tokenscan.io
Simply copy your Bitcoin address and paste it into Tokenscan to look up your Counterparty token transaction history. Below is a screenshot of the link: https://tokenscan.io/address/1CZWQ2UFhTsTWTuwKFJXadhwrHMDggFKgN
When recieving Counterparty tokens, after they are confirmed they will show up in the Balances tab on Tokenscan as well as in your Freewallet (which pulls its data from Tokenscan).
To examine a Counterparty asset send that has been sent to your address, but has not been confirmed by the Bitcoin network just yet, click the "More" dropdown menu on Tokenscan and click "Unconfirmed".
This will now show you any unconfirmed Counterparty transactions that are waiting to be confirmed by the Bitcoin network. You can use this transaction ID, denoted by the red arrow, for details to look this transaction up on any Bitcoin block explorer of your choosing.
To send an asset you own, simply navigate to the left panel and find the TOKEN you wish to send. Then right click the TOKEN. Then click “Send TOKEN to…"
In the screenshot above, you will see a prompt for a Simple Send.
First verify the Source is the address you would like to send the TOKEN from. You can also click to the right side of your source address on the paper with notepad icon to change your address (though it will need to be address you own the TOKEN on)
The Destination Bitcoin address input is for the receiving address of where you are sending the TOKEN.
The Token Name should be denoted as the TOKEN you wish to send.
Make sure the Amount field is the correct amount of TOKEN you wish to send. You can also use the MAX function to send all available TOKEN in this transaction.
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 TOKEN transaction. You can also change the Memo type from Text to Data using the dropdown to the right of the Memo field. There is a 32-character limit for the memo in OP_Return sends.
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. Please see What BTC fee should I use? for more information on this subject.
Please verify all of the information is exactly correct After you are sure this the above inputs are correct press the “Send Funds” to sign and broadcast the transaction. A popup stating “Confirm Send?” will display showing how much TOKEN 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.
After sending any Counterparty Token (including XCP) and you see this on Tokenscan when clicking “View Transaction” come back in a few minutes and refresh the page when your unconfirmed transaction is confirmed on the bitcoin network.
After a few minutes it will show on the Unconfirmed tab on Tokenscan as shown above. Once the transaction is confirmed, it will show on Tokenscan as a completed send and the status will read "valid".
