To comply with recent regulations, many exchanges ask users to perform a "Satoshi Test" to prove ownership of Bitcoin addresses.
Using the BitBoxApp, carrying out a Satoshi Test for a withdrawal is straightforward. You'll need to enable the Coin Control feature, which allows you to manage UTXOs (Unspent Transaction Outputs, the individual "coins") and addresses used to construct a transaction.
Enabling Coin Control
- Navigate to the BitBoxApp's Settings.
- Select the Advanced Settings tab.
- Enable Coin Control.
Select addresses using Coin Control
- After enabling Coin Control, go to the Send screen.
- Click on the newly available Coin Control button to open the Coin Control panel.
- Select a UTXO from the address you want to verify, then close the panel.
- Create a transaction according to the instructions from your broker.
- Verify the transaction details on your BitBox device. If everything looks correct, confirm and send the transaction.
Important: Avoid selecting UTXOs marked as Change
The BitBoxApp automatically generates "change addresses" when receiving change from a transaction, following Bitcoin standards. These addresses are not included in your transaction history. These UTXO are marked as “change address” in Coin Control and should not be selected for a Satoshi Test. (For test transactions for deposits, check this guide: Problems with Satoshi Test transactions)