How to Mint?

Explains the Minting sequence for BTC Proxy

The steps involved in minting a Bitcoin proxy are explained below:

The user connects the ETH wallet to the web3.js interface at btcpx.io.

  • Enter the Amount to Mint - The first step in creating a proxy for your Bitcoin is to enter the amount to mint. Enter an amount, review the minting fee and Bitcoin network fee, and click Next. The custodian wallet address they are to send BTC to will be displayed.

  • Deposit BTC with Custodian - The next step is to deposit the BTC with the custodian. This wallet address is never the same so do not resend BTC to this address twice. You may scan the QR code or copy the Bitcoin address. Utilize your proprietary Bitcoin wallet to send to the address. Deposit any amount larger than 0.0001 BTC, your deposit transaction will be detected at the address on-chain by and will be confirmed upon 3 block confirmations.

  • Claim your BTCpx Tokens - The final step is to receive the newly created BTCpx tokens into your ETH wallet. This step may take up to 30 minutes as the data is moving from BTC to Matic to ETH. Once completed, the Claim Token button will become active. Clicking the button will pop up the Metamask to pay the Gas Fees. The Ethereum Wallet Address to which your BTCpx tokens will be deposited will be displayed.