Transferring Siacoins
Last updated
Last updated
Whether you're sending Siacoins to an exchange or receiving from a friend, hostd facilitates the transfer of Siacoins (SC). You can check the transaction status, easily achieved via the UI.
Go to hostd. If you're asked to unlock the UI, use your custom password if you've set one. If you haven't got a wallet set up hostd, visit our Setting up hostd guide; otherwise, choose from the sidebar Wallet.
Click on the Send button. Enter the recipient's wallet address and the amount of Siacoins you want to send. Make sure that you've entered a Siacoin wallet address and that you've entered it correctly.
Siacoins sent to mistyped addresses or addresses of other types of cryptocurrency can not be retrieved.
Click Generate Transaction.
Next, you need to confirm everything. You'll have a chance to double-check the currency, amount, and recipient address. The window will also show you estimated network fees.
Click Setup to change something. If it's all good, click Broadcast transaction.
You'll immediately get a confirmation that your transaction has been successfully broadcasted.
By looking at the transactions in the Wallet section of the UI. It's normal to 'Unconfirmed' at the latest transaction, which means the transaction is on its way but hasn't yet appeared in a block.
It might take a minute or two to appear in the wallet's transactions list.
Once it's in a block, you can check the status and see a new transaction type of siacoin transfer.
Before you can start hosting, you must have Siacoins (SC) in your hostd wallet for the following:
Locking Siacoin as collateral to ensure they are financially incentivized to store data.
You are submitting storage proofs to the blockchain. If your wallet runs out of Siacoin, your host cannot submit storage proofs, and you will lose collateral.
We recommend around $50 worth of Siacoin to start hosting. Hosts are constantly locking collateral; you may need more or less depending on how much data you store, you may need more or less.
You can still transfer funds to your wallet, but please note that they won't be accessible until the wallet is completely synced.
Go to hostd. If you're asked to unlock the UI, use your custom password if you've set one. If you haven't got a wallet set up hostd, visit our Setting up hostdand choose from the sidebar a Wallet.
Copy and paste your address manually, or use the Copy button to the right to ensure you get the full address without any extra spaces, and provide this address to whomever you're receiving the funds from.
You can also receive Siacoins by sharing your QR code for others to scan.
The transaction can check the transaction status by going to your Dashboard and selecting the wallet you made the transaction with. It's normal to see Unknown at the top of the list of transactions; it means the transaction is on its way but hasn't yet appeared in a block.
The transaction might take a minute or two to appear in the wallet's transactions list.
Once it's in a block, you can check the status and see a new transaction type of siacoin transfer.
