Topic: buying goods (Read 305 times)
OK, thanks to all
Now my problem is the minimum withdrawal amount allowed by Coinfloor is 0.005 BTC. I only have £50 in Coinfloor =0.001842 BTC
There is nothing you can do about that. You should've read their FAQ before depositing money.
For the future, you can try and look whether one of these exchange have better limits (ignore eToro): https://www.buybitcoinworldwide.com/united-kingdom/
Oladine, you need to understand that using Legacy addresses attracts a high transaction fee while the bech "bc1" gives chance for a low fee.
Posted on: Today at 02:23:24 PM
Posted by: Alucard1
OK then if Coinfloor won't accept bc1 addresses where can I find somewhere which will accept them? OR if I have to use Legacy addresses how high is the fee in %
I downloaded Electrum 4.0.9 and now it has allowed me to use a bc1 address.
Now my problem is the minimum withdrawal amount allowed by Coinfloor is 0.005 BTC. I only have £50 in Coinfloor =0.001842 BTC
Posted on: Today at 02:23:24 PM
Posted by: Alucard1
OK then if Coinfloor won't accept bc1 addresses where can I find somewhere which will accept them? OR if I have to use Legacy addresses how high is the fee in %
I downloaded Electrum 4.0.9 and now it has allowed me to use a bc1 address.
Now my problem is the minimum withdrawal amount allowed by Coinfloor is 0.005 BTC. I only have £50 in Coinfloor =0.001842 BTC
In Electrum I go to Wallet_1 (Standard) File>Open> Addresses and all the addresses start bc1q....
Obviously, though, Using legacy addresses nor an outdated electrum version is not recommended. [1] https://download.electrum.org/4.0.9/
If you are in a country that has the store that accepts bitcoin then you can do it, maybe you need to do research first about the stores in your area that is accepting bitcoin as payment. You can also visit this one if you want, https://bitcointalk.org/index.php?board=51.0
my account is COINFLOOR, my wallet is ELECTRUM
You should not store your bitcoin in the Coinfloor because there is no assurance that your money is safe in exchange, as exchanges are always having a problem in terms of hacking, you should store it all to your electrum. In Electrum I go to Wallet_1 (Standard) File>Open> Addresses and all the addresses start bc1q....
That doesn't make much sense, especially if the command didn't return any errors...
Well, you can try and install Electrum version 4.0.9[1] since legacy wallets (UI) were dropped in 4.1.0. Create a new wallet and asked which wallet type, simply choose "Legacy" which you can then use anywhere.
Obviously, though, Using legacy addresses nor an outdated electrum version is not recommended.
[1] https://download.electrum.org/4.0.9/
In Electrum I go to Wallet_1 (Standard) File>Open> Addresses and all the addresses start bc1q....
OK I did that. Now I've got 2 wallets: default wallet created 20/5/21 and wallet_1 created 24/5/21. What do I do now?
I'm assuming the wallet_1 is the one you created using the command line?! If so, then try to open it. The addresses should start with a 1 which you can then use on Coinfloor.
OK I did that. Now I've got 2 wallets: default wallet created 20/5/21 and wallet_1 created 24/5/21. What do I do now?
I paste create(seed_type="standard") into Electrum and press Receive then Addresses and it gives me an address starting with bc1
That's not what you should be doing. The command is not going to change your current wallet, It'll rather create another one which you can open by going to File > Open as explained on the link I gave you.
no the address started bc1
I tried all that and it still says address invalid
Did you paste the address you got from the new wallet? The new wallet created by the command line should give you an address that starts with an "1". There is no way they would consider it as invalid unless you're trying to withdraw another cryptocurrency.
I tried all that and it still says address invalid
I entered one of the many addresses listed under "Addresses" in Electrum, into Coinfloor, but it said "Address is not valid"
I suppose your address starts with a "bc1"? If so, you'll have to create a legacy wallet first because it appears that Coinfloor doesn't support bech32 addresses.
IIRC, it's no longer possible to create legacy wallets with the UI after the last electrum update so you'll have to do it using the command line. See this: https://www.reddit.com/r/Electrum/comments/mku14h/how_do_you_create_legacy_wallet_from_command_line/
I entered one of the many addresses listed under "Addresses" in Electrum, into Coinfloor, but it said "Address is not valid"
I am not an expert in electrum wallet but here are some threads I found here in the forum that could(maybe) help you fix the "invalid address" you are getting. if you are still skeptical you can wait for a more knowledgeable member to help you with the invalid address you got from electrum. sorry if I am not much of a help.Electrum Generating invalid bitcoin address
Beginner Question "The provided Bitcoin address is not valid"
I entered one of the many addresses listed under "Addresses" in Electrum, into Coinfloor, but it said "Address is not valid"
Thanks for that, but I'm still not sure how to send bitcoin from Coinfloor to my wallet?
doesn't Coinfloor have instructions on how to send/withdraw BTC from their website? usually, the exchange platform has instructions on how to send or withdraw on their FAQs or on the withdrawal page itself. edit:
here's their FAQ for withdrawals on their website https://coinfloor.zendesk.com/hc/en-us/sections/360005155777-BTC-Withdrawals
Thanks for that, but I'm still not sure how to send bitcoin from Coinfloor to my wallet?
I'm sorry I don't even have the most basic knowledge. How do I transfer bitcoin from my account to my wallet? When it's in the wallet how do I spend it? I don't even know how to open the wallet and look inside it or do anything with it.
Looks like you have a good amount of reading to do mate. This is something you really don't want to mess up if you don't want to lose money.
https://www.coindesk.com/learn/bitcoin-101/what-is-bitcoin
https://www.coindesk.com/learn/bitcoin-101/how-to-store-your-bitcoins
https://www.coindesk.com/learn/bitcoin-101/how-do-bitcoin-transactions-work
Literally I don't think there is a specific online store that enables buying of goods with bitcoin, but please I stand to be corrected if there is any. But I know of a platform known as localbitcoin(dot)com which enables user to sell Bitcoin and receive payment instantly in their Fiat currency which you can use to purchase whatever goods you intend to buy.. Because as for me here in Nigeria, the platform I use to sell my bitcoin for Fiat is Remitano(dot)com, which is very fast and secure..
EKWB has a bitcoin payment option in their web shop, I bought some watercooling stuff from them recently and saw it during checkout.
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