What is Bitcoin. Bitcoin was created in through a whitepaper published by an anonymous entity going by the alias of Satoshi Nakamoto. It is a decentralised digital currency, which means that it's not owned by any central agency such as a government or a bank, and it's backed by blockchain technology. Payments to non-BTC addresses Bitcoin shares the same address format as other cryptocurrencies such as Bitcoin Cash. However because CoinJar does not support these other currencies, the payments will always be sent as Bitcoin. Any funds sent to a non-BTC . Additionally, each CoinJar will generate a single receiving Bitcoin address for all incoming Bitcoin payments, rather than a new address each time. Receiving Ether (ETH) ERC ERC20 - the Ethereum token standard - is currently supported for a limited range of tokens. You should review CoinJar's Supported digital currencies often. Any.
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Whenever receiving any payment with your CoinJar, please ensure to consider these requirements. Whereas most privately hosted digital currency wallets use a single digital currency address for both sending and receiving payments, CoinJar uses many different addresses to send digital currencies - not all of which will be associated with your personal CoinJar account.
Most external services are automatically configured to return payouts to your sending address, and this can lead to funds not being credited to your account. Due to this, we do not recommend you use your CoinJar for cryptocurrency mining or gambling websites - unless you can specify on that service which address your payouts will be sent to.
Alternatively you can use a privately hosted wallet to receive payouts, and then transfer your funds to your CoinJar. P2SH transactions are processed more efficiently through Segregated Witness SegWit , which increases the transaction capacity of Bitcoin blocks.
We recommend using your new P2SH address rather that continuing to use previously generated addresses. Additionally, each CoinJar will generate a single receiving Bitcoin address for all incoming Bitcoin payments, rather than a new address each time.
Please note that Bitcoin transfers to external Bitcoin addresses will require a transaction fee in order to be processed. Bitcoin shares the same address format as other cryptocurrencies such as Bitcoin Cash. However because CoinJar does not support these other currencies, the payments will always be sent as Bitcoin. Any funds sent to a non-BTC address will be lost, and cannot be reversed or refunded. Due to the risk of accidentally sending BTC payments to a non-BTC address, CoinJar will always warn you when making a payment, as shown in the screenshot below.
CoinJar now supports payments to Bech32 addresses. Members are able to send funds to a Bitcoin address beginning with "bc1". Because Ethereum Classic ETC addresses cannot be distinguished from Ethereum ETH addresses, entering an Ethereum Classic address will always result in that amount being sent on the Ethereum network, which will cause loss of funds. This is done to ensure funds held by CoinJar are as safe as possible.
While this is standard among most exchanges and wallets, some are unable to recognise funds sent in this manner, even though the Ether has successfully arrived. Unfortunately, until these parties expand their Ethereum capabilities, any un-recognised transaction will need to be manually credited by the exchange or wallet operator. Providing your receiving wallet host with your blockchain transaction ID will allow them to resolve this.
While the initial transaction doesn't contain your funds, it informs the CoinJar Ethereum contract to forward your payment to the Ethereum address you specified. The funds have been sent successfully - blockchain explorers will typically quote this amount and your destination address under the 'To:' or 'Actions' field.
Litecoin addresses come in three types, as outlined in the table below. Attempting to send funds to a Legacy P2SH address will instead result in CoinJar recognising a Bitcoin address and making your payment to the Bitcoin network.
When sending an XRP payment to a brand new XRP address, please ensure you're sending at least the minimum reserve amount at the time, or the payment will not be successful.
Omitting a Memo ID may result in irrevocably losing funds. Sending digital currency payments to any external address will send that amount via that currency's blockchain.