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Waves allows you to hold and transfer Bitcoin on its blockchain. This works through a so-called Multigateway approach: Bitcoins are sent to a user's personal deposit address available in the Lite Client and after the deposit the user receives a Bitcoin token wBTC on the Waves blockchain.
Every single Bitcoin token is backed 1: The deposited Bitcoins are held in a multi-signature wallet secured by a minimum of 3 servers. These 3 servers hold each a private key to the multi-signature wallet of which at least 2 have to sign when a withdrawal request comes in.
This gives the whole system a limited extent of decentralization. When a user wants to convert his Bitcoin tokens to 'real' Bitcoins, he simply creates a withdrawal request to a Bitcoin address and the server will execute the Bitcoin transaction within a few minutes. This Multigateway approach can be implemented for basically any crypto currency and allow their communities to access the feature set of Waves.
For example, a user doesn't have to wait for the 10 minute block time of the native Bitcoin blockchain but can send Bitcoins to another address within a minute.
Moreover, it allows a crypto currency to be traded on the Waves decentralized exchange against any other token issued on the Waves blockchain.
These are only two simple use cases with many more to be discovered. The following pop-up will appear:. The process is straight-forward - simply copy paste the shown Bitcoin address and send a payment to it. Alternatively, you can enter the amount you want to send in the box a little further down and scan the QR-code for the transaction. Please note that the minimum deposit is 0. The deposited amount of Bitcoin will be sent to your Waves account in form of a Bitcoin token wBTC within a few minutes.
If you want to do so, click on Buy Bitcoin from your credit card and a new pop-up appears:. Define the amount in EUR or USD you want to spend and the client automatically returns you the amount of Bitcoin you are going to receive after payment. After you have done so, click on BUY and you will be forwarded to our gateway partner Indacoin. Go through the verification and payment process and you'll receive your Bitcoins within a few minutes.
Please note that the commission on credit card purchases is comparably high and is mainly intended for beginners who don't want to go through the hassle of buying Bitcoins through centralized exchanges. Simply enter the Bitcoin address you want to withdraw to as well as the amount of Bitcoin.
Please note that the gateway charges 0. This page contains changes which are not marked for translation. Retrieved from " http: Navigation menu Personal tools English Create account Log in. Views Read View source View history. Navigation Wiki Home What is Waves? This page was last modified on 11 July , at Privacy policy About Waves Wiki Disclaimers.