The Eidoo wallet and ecosystem was built upon the Ethereum network. For this reason, you cannot use your Bitcoin (BTC) to interact with a variety of our in-app services and features, as it has its own native blockchain. As a decentralized wallet, this also means you cannot swap directly your Bitcoin for Ethereum’s native token Ether (ETH) or ERC-20 tokens.
However, we’ve now made it easy to make your Bitcoin Ethereum-compatible!
You can transform your Bitcoin into an ERC-20 token using your Eidoo wallet thanks to our latest integration with pTokens.io. You can deposit your BTC and mint your own pBTC tokens (peg-in) and redeem your pBTC for your original BTC (peg-out) any time you like. The pBTC token is pegged 1:1 with Bitcoin, meaning that one pBTC is always equal to one BTC You can swap pBTC with the following tokens: ETH, USDT, USDC, DAI.
Before proceeding, be sure to update your app to the latest version available through the url https://eidoo.app.
How to peg-in pBTC
To peg-in pBTC proceed as follows:
1) from the personal wallet, click or tap on the "QR Code" button on the upper right corner
2) select pTokens BTC
3) deposit BTC to the peg-in address. Remember that the minimum peg-in amount is 0.0005 BTC.
Note: it's possible to swap BTC into pBTC by making a deposit directly from external wallets, this way you will have only pBTC inside Eidoo Wallet.
Once the peg-in process is completed, the new pBTC item will appear in your Eidoo wallet and you will be ready to use the representative Bitcoin token with our services. You can swap pBTC with the following tokens: ETH, USDT, USDC, DAI.
How to peg-out pBTC
To redeem your Bitcoins proceed as follows:
1) from the personal wallet, click or tap on the "Manage your pTokens" banner
2) input or paste your BTC address and tap on "Proceed"
3) select the amount that you want to redeem and confirm the transaction. Remember that the minimum peg-out amount is 0.0005 pBTC.