Rootstock Documentation
  • Performing a peg-in in using Trezor Hardware Wallet | 2 way peg app Documentation
7' to read
Edit

Performing a peg-in in using Trezor Hardware Wallet | 2 way peg app Documentation

In this guide, we will be using performing a peg in transaction using the 2 way peg app application.

Trezor Hardware Wallet

Connect Trezor

Step 1: Connecting to a trezor wallet

Plug your Trezor wallet by connecting the USB cable that comes with Trezor.

Step 2: Export multiple addresses In this step, the user is redirected to Trezor's site and needs to click on export to export the addresses.

Export Testnet Addresses

Step 3: Enter Pin and confirm Enter a pin for your Trezor, displayed on your hardware wallet. Click confirm.

Insert Trezor Wallet Pin

Insert Wallet Pin - Trezor

Step 4: Unlock Trezor with passphrase

Enter passphrase

Step 5:

  • Type Trezor passphrase
  • Trezor will display the message: 'Please enter your passphrase using the computer's keyboard'.

Enter Passphrase using Keyboard

The user fills the passphrase, and confirms passphrase fields, using the Trezor Connect application. The user will see this screen on Trezor: "Access Hidden Wallet?".

Access hidden wallet notification

Use passphrase

Now, you have successfully connected your Trezor to the Bitcoin network.

Performing a peg-in transaction with Trezor

Waking Device

Step 1: Select Conversion Type

Since we are performing a peg-in, choose the BTC - RBTC conversion type, as shown in the image below;

Select Conversion Type

Step 2: Choose Hardware Wallet

Here, we are using the ledger hardware wallet to interact with the 2 way peg app. Select your hardware wallet, ensure your device is already connected by inserting your pin into the Ledger device before clicking the Ledger option in the 2 way peg app. See the connect to a ledger wallet section.

Choose Hardware wallet

Step 3: Read pop up information

The pop up shown in the image below describes the duration of the peg-in process which requires at least 100 confirmations on the Bitcoin network, this gives an estimate of around 17 hours in total. It also describes the three main steps involved which is; connecting to the hardware wallet, sending a signed transaction to the BTC network until the corresponding RBTC value is made available in the destination wallet and a receipt for this transaction.

Read popup info

Click the checkbox - “Don’t show again” to turn off this pop-up in the future or close temporarily.

Step 4: Connect to the app

Click Continue to connect to the 2 way peg application.

Connect to the app

The 2 way peg app shows the pop-up with the connected usb ledger devices, if your device is not visible, unplug the usb device and plug in again, unlock with a pin and click Retry or go back to the connect ledger wallet section.

Connect device error

To confirm successful connection to the 2 way peg app, you will be directed to the screen below, where we will perform a Peg-in transaction.

Peg-in screen

  • The balance of the accounts in your hardware wallet will be loaded, and this shows the balance of 3 different types of accounts: segwit, legacy, native segwit. See the supported addresses for the meaning of these types of accounts.

Step 5: Sending a transaction

Choose Account

Select the account you would like to send BTC from, by clicking on the dropdown as shown in the image below.

Select Testnet Bitcoin Account

Note that for each selected account type, we will see a corresponding balance in the 'Device account' field in transaction summary section on the right hand side of the screen.

Enter Amount

After selecting the account you will like to send BTC from, the next step is to enter an amount you would like to send. The amount entered appears in the BTC field, and you can see the corresponding amount in USD under transaction summary.

Enter Amount

  • The minimum amount to send to perform a pegin operation is 0.005 BTC, any amount less than this throws an error message: “You cannot send that amount of BTC, you can only send a minimum of 0.005 BTC”.
  • The minimum amount to send to perform a pegout operation is 0.004 RBTC, any amount less than this throws an error message: “You cannot send that amount of BTC, you can only send a minimum of 0.005 BTC”.
  • Note that the amount sent in BTC is the same amount to be received in RBTC on the Rootstock network.

Step 6: Enter address

To enter an address, we are provided with two options:

  • (1) Manually enter or copy and paste an Rootstock compatible address. See Account based addresses
  • (2) Connect to a software wallet. E.g, Metamask. Here, the address is automatically filled in by the account that is connected to your metamask wallet.

Enter address

Tips:

Step 6a: Click on Connect Wallet

Click Connect Wallet

Step 6b: Choose your preferred wallet

In this section, we will use the Liquality wallet.

Choose Liquality wallet

This triggers a pop-up. Ensure to check the wallet address and the network automatically selected by Liquality. Grant the requested permissions to liquality by clicking on Confirm.

See connect with Metamask.

Step 6c: Confirm Details

Confirm network details

This automatically connects your wallet and adds a destination address. You can choose to disconnect the wallet by clicking on the Disconnect wallet button.

Select Address

Step 7: Select Transaction Fee

Here, we can select the fee that will be used for this transaction, this is set on default to average.

Select Transaction Fee

  • The transaction fee is not part of the amount you’re sending via the 2 way peg app, it will only be used for the correct processing of the transaction on the Bitcoin network. Also see the different types of fees (slow, average, fast) and their corresponding cost in TBTC and USD, depending on preference, you can choose any of those three. See the adjusting network fees section for more information.
  • The time for each type of fee per transaction may vary depending on the number of transactions on the network and the fees charged at the time.

Step 8: View transaction summary

In this section, we can confirm the selected values:

  • Device account address
  • Amount in BTC
  • Destination Rootstock address
  • Refund Bitcoin address
  • Transaction fee in BTC and USD
  • Transaction total (BTCs amount + Transaction fee selected)

Transaction Summary

  • In the instance of an error on this transaction, the amount will be sent to the address indicated in the refund Bitcoin address located in your hardware wallet.
  • See the glossary section for the meaning of these values.

Step 9: Continue and sign transaction

By clicking on the Continue button, we can see all the transactions that will be made, their corresponding inputs and outputs, and the network fees that will be charged, all this information must be confirmed on your hardware wallet screen.

View transaction summary

Under transaction summary, we can see the destination and refund address, as well as the Powpeg recipient address. After confirming these details are correct, click on the sign button, and confirm all information on your hardware wallet.

Sign Transaction Summry

Step 12: View transaction status

This shows the status of your transaction, with a transaction ID and a link to check the transaction on the explorer.

view transaction status

By clicking on the transaction link, the user can check the status directly in the block explorer, outside the 2 way peg app application, and view the data on the bitcoin blockchain.

View transaction on Blockcypher

Users can also copy the transaction id to view the status of their transaction on the Bitcoin network. See the view transaction status section for how to view transaction status.

Click Done.

Now you have successfully performed a peg-in transaction using the 2 way peg application.

Resources

Receive updates

Get the latest updates from the Rootstock ecosystem

Loading...