Freewallet.io User Manual
Freewallet.io User Manual
  • Getting Started
    • What is Freewallet?
    • What are the features of Freewallet?
    • Where can I access Freewallet?
    • Where can I access previous versions of Freewallet?
    • What is Tokenscan.io?
    • Why do I need small amounts of Bitcoin to do things in Freewallet?
    • What BTC fee should I use?
    • What is the Automatic Donation System? How do I turn it off?
    • What is an Asset/Token/NFT? How can I store them?
    • I want to trade a certain Asset, is it legitimate?
    • How to find the License Agreement
    • What else do I need to know?
  • Exploring Balances, History, Exchange and Dispensers
    • Address Balances
    • Address History
    • Viewing Tokens
    • Exploring Token Information and Enhanced Asset Information
    • Understanding Dispenser Markets
    • Buying XCP and User Created Tokens from a Dispenser
    • The Decentralized Counterparty Exchange (DEx)
    • Understanding Exchange Pairs
    • Buying and Selling XCP and Tokens on the DEx
    • Understanding BTCpay and BTC/TOKEN on the DEx
  • Freewallet Functions
    • Creating a Wallet
    • Locking and Unlocking Your Freewallet
    • Viewing, Creating and Importing Addresses
    • Show a QR Code for your Address
    • Sending and Receiving BTC
    • Sending / Receiving XCP and User Created Tokens
    • Displaying the Seed Phrase and Private Key of your Address(s)
    • Using the Multi Send function
    • Create a Counterparty Token (NFTs and FTs)
    • How to Change Token Properties
    • Changing the Token Description
    • Issuing more Token Units
    • Resetting Your Token Issuance
    • Locking Your Token Issuance
    • Transfer Token Ownership
    • Destroying Tokens
    • Paying Dividends to Token Holders
    • Voting with Tokens
    • Broadcast information on the Bitcoin blockchain
    • Signing a Message Using Freewallet
    • Signing a Transaction Using Freewallet
    • Using the Sweep Function
    • Setting up a Dispenser
    • Closing a Dispenser
    • Cancelling Exchange Orders
    • Starting an Exchange Pair that has no orders up yet on the DEx
    • Minting Open Fairmints
  • Common Questions Using Freewallet (FAQ)
    • What if you make a mistake?
    • Where can I see my current version?
    • How do I check my Freewallet Server settings?
    • How do I use the Debug function on Freewallet?
    • Can I use the Counterparty/Bitcoin Testnet in Freewallet?
    • Can I burn BTC for XCP?
    • What’s a Stamp?
    • What’s an Ordinal?
    • If Tokenscan is down for maintenance, can I still access my funds?
    • Why is there more than one input on my BTC transactions?
    • Does Freewallet support two-factor authentication?
    • Can you lock a Token description?
    • Can I run my own Counterparty server?
    • How do I use Freewallet to mint an Emblem Curated Vault?
    • How do you create a Burn Address for use on Counterparty?
  • Troubleshooting / Issues
    • I sent BTC (or a Token) to Freewallet, why doesn't it show up?
    • Why can't I see my assets I own or created with 0 issuance?
    • "Error While Trying to Broadcast Transaction"
    • "Failure to send not enough BTC in wallet"
    • My Freewallet Exchange/Dispenser tab is resetting the data when I try to sort by BTC Price?
    • "Public key was neither provided nor published in blockchain."
    • I logged in and see none of my assets but I see them on tokenscan!
    • Help! I used too small of a fee and my transaction is not confirming!
    • I sent/dispensed an XCP asset to a Wrapped Segwit Address (address beginning with "3")
    • I sent/dispensed an XCP asset to a Taproot Address (an address that starts with "bc1p")
    • I updated Freewallet and can only see my first 20 addresses! How can I get them back?
    • My second transaction on an MPMA (Multi-send) is not getting confirmed and giving me an error
    • Freewallet gave me a TX link but Tokenscan says "Transaction not found on tokenscan"
    • Error composing dividend transaction via API: ['zero dividend']
    • My MacOS/Windows is saying Freewallet is not verified by the app store. What should I do?
    • Counterparty API Communication Error!
    • What is a Counterparty API Error?
    • Stuck on "Checking Data Encoding Fees"
    • Constructed transaction does not parse correctly
    • My transaction is too low of an "Effective Fee Rate"
    • Error Composing Dispenser TX - Balance History
    • I entered my created password and stuck on "You will need to unlock..."
  • Getting Support
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  1. Freewallet Functions

Using the Sweep Function

PreviousSigning a Transaction Using FreewalletNextSetting up a Dispenser

Last updated 6 months ago

The Sweep Function is used to “sweep” all BTC, XCP assets, and Token Ownerships from one address to a new one.

This action is entirely irreversible, make sure you verify everything a few times over before initiating this function.

This feature was originally implemented with by John Villar who stated:

"there's one specific case where a whole address needs to move all its assets and ownerships to another address, be it due to migration of technology, wallet compromise or [Over The Counter] selling of its contents."

In the past the XCP fee for a sweep was a flat rate fee of 0.5, but in recent upgrades the XCP fee is more dynamic to how many Assets and Token Ownerships you are sweeping.

  • The process will require BTC for the transaction fee as well as some XCP to complete this function.

  • You will need access to the address you are sweeping from to do this function.

  • You will also need access to the address you are sweeping to in the event this is simply moving balances and issuances to a new address.

  • When initiating the sweep, the XCP will be deducted and any remaining XCP will be swept to the new address.

The best advice for users is to have at least 4 XCP on the address you are looking to sweep which covers 1000 balances and 1000 issuances.

To understand the specifics for how much XCP you may need for your address and all of its contents, please review the or see the example below to estimate what your fee might be.

To access the Sweep feature, navigate to the “Actions” tab in the upper right. The click the “Sweep Address” function.

This feature shows these options within a new pop-up window:

  • Source is the Address you will be Sweeping from.

  • Destination is the Address you will be Sweeping to. This is address that will receive all tokens and/or asset ownerships on that address.

  • Balances gives you the option to Transfer all token balances.

  • Ownerships gives you the option to Transfer all token ownerships.

  • You have the option to include a public Memo with this Sweep that can include text or data that will be publicly viewable on the Bitcoin blockchain.

Freewallet allows both Balances and Ownerships to be swept or just one or the other. Just remember to have at least 4 XCP in your Source address The Destination address does not require anything to be owned on it (BTC, XCP or any other tokens included).

Freewallet will then pop up a confirmation window to confirm your address and settings you have chosen for your destination address.

Please review all of this information with extreme care and verify it is exactly correct.

Take note if you are doing this in a situation you feel your private keys or passphrase may have been compromised, use a fee number even higher than the "High" setting that Freewallet recommends. It would not be unwise to use three to five times (or more!) the recommended High fee in this scenario.

This ensures the Sweep function happens as fast as possible and is confirmed as fast as possible.

With this in mind, it may also always be a good reason to keep some XCP on addresses you hold many tokens or token ownerships to ensure you can do this process quickly if need be.

The Fee input is the last choice you have here and it is best to review the section titles

What BTC Fee should I use?
this CIP
current sweep protocol specifications
Four separate examples for an XCP Sweep fee (USD price is assuming price of XCP is $3 per token).