Bitcoin (BTC)
What is Bitcoin?
Here are five key points about the Bitcoin blockchain:
Bitcoin is a digital currency that exists only online. You cannot hold it like notes or coins.
It is decentralised, meaning no government or bank controls it.
There will only ever be 21 million Bitcoin in existence, making it scarce compared to traditional currencies.
Every transaction is recorded on a blockchain, ensuring transparency and security.
Bitcoin’s price is highly volatile, rising and falling rapidly.
Tip: Learn more by reading our article: What is the Bitcoin blockchain?
Bitcoin support in Wraith Wallet
Wraith Wallet has full support for Bitcoin. When you set up a multi-coin wallet, you’ll automatically get a Bitcoin address.
With Wraith Wallet you can:
Buy Bitcoin (BTC) using debit or credit cards.
Receive Bitcoin using SegWit (Bech32) addresses.
Send Bitcoin to any other BTC wallet.
Swap Bitcoin with other cryptocurrencies via cross-chain swaps.
Receiving Bitcoin in Wraith Wallet
You can get Bitcoin in two ways:
Buy BTC directly inside Wraith Wallet.
Receive BTC using your unique Bitcoin address in the app.
Sending Bitcoin with Wraith Wallet
To send BTC:
Tap Send.
Enter the recipient’s Bitcoin address or scan their QR code.
Enter the amount you want to send.
Confirm the transaction, making sure you have enough BTC to cover network fees.
You can adjust the network fee depending on how fast you want your transaction processed.
Bitcoin transaction fees
Higher fees usually mean faster confirmation.
Lower fees may result in slower confirmation.
Fees vary depending on network demand and transaction size.
Tip: Check current Bitcoin fees at mempool.space.
Swapping Bitcoin
You can swap Bitcoin for any cryptocurrency supported by cross-chain swaps directly in Wraith Wallet.
Checking your Bitcoin balance
Wraith Wallet connects to the Bitcoin blockchain to show your live balance.
Tap the three dots in your wallet view.
Select View address on Blockchair to see your transactions in detail.
Blockchair is the default blockchain explorer used for Bitcoin.
Why use Wraith Wallet for Bitcoin?
User-friendly interface: Easy for beginners and advanced users alike.
Enhanced security: As a self-custodial wallet, you control your private keys.
Regular updates: Wraith Wallet continually adds features and improvements for Bitcoin management.
Conclusion
Bitcoin (BTC), the first and most widely adopted cryptocurrency, is secure, decentralised and transparent. With Wraith Wallet, you can buy, send, receive and swap Bitcoin confidently, while keeping full control of your assets.
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