Sending bitcoin requires the utmost attention to security. When you create a transaction in a software wallet like Electrum, you must use your BitBox02 to verify all the details and provide the final, secure signature. This step is critical because it protects you from malware on your computer that could try to change the recipient's address or the amount being sent. Always trust what you see on your BitBox02 screen.
This guide will show you how to safely create, verify, and sign a transaction.
Before you begin:
- Please ensure your BitBox02 is fully set up and updated to the latest firmware using the BitBoxApp, and have the device ready to connect and unlock when prompted for secure actions.
- The latest version of Electrum (https://electrum.org) must be installed on your computer.
- You must have already connected your BitBox02 to Electrum. If not, please follow our connection guide (How to connect your BitBox02 with Electrum) first.
The BitBoxApp must be completely closed before you open Electrum, as only one application can connect to the device at a time.
Step-by-step guide to sending bitcoin:
- Go to the Send tab.
- Enter the recipient's address and the amount. Click Pay
- Set your desired transaction fee and click OK.
- Authorize the transaction when prompted.
- Review all transaction details (amount and address) on your BitBox02 screen.
- If everything is correct, physically confirm the transaction on your BitBox02.
FAQ Section:
Why is verifying the transaction on the BitBox02 so important?
Malware on your computer can alter transaction details without you knowing. For example, it could replace the recipient's address with an attacker's address. Verifying the details on the BitBox02's secure, isolated screen is your final line of defense to ensure the transaction is exactly as you intended.
What happens if I send bitcoin to a wrong address?
Bitcoin transactions are irreversible. If you send funds to an incorrect address, there is no way to cancel the transaction or get the funds back unless the owner of that address voluntarily returns them. This is why you must always double-check the address.
What is a Bitcoin transaction fee?
A transaction fee is a small amount of bitcoin paid to miners for including your transaction in a block on the blockchain. Higher fees give miners a greater incentive to process your transaction quickly. During times of high network activity, higher fees may be necessary for timely confirmation.