Managing Your Bitcoin Wallet
The Lattice1 supports Bitcoin via our own simple BTC wallet app you can find on the Lattice Manager. You can also view your BTC addresses directly on the Lattice screen if you're just receiving BTC - go to Lattice/SafeCard Addresses on the home screen.
The Bitcoin wallet on the Lattice is derived from the same seed as the Ethereum wallet, which means that your seed phrase which unlocks your ETH address will also unlock your Bitcoin (and if you create a SafeCard backup of your Lattice wallet, both BTC and ETH, along with all your EVM-based digital assets, will be there).
Navigate to the Lattice Manager and log in with your Device ID and password:
After you have successfully logged in, click on Bitcoin Wallet and you will be taken to Settings.
The Bitcoin wallet is hidden by default, so you will now need to select the address format you wish to use.
Not sure which one you should use?
Each address format handles transaction generation differently, but they all are interoperable with each other on protocol level.
- Legacy Bitcoin addresses start with a '1' and are the original Bitcoin address type.
- Segwit addresses begin with 'bc1'. This standard was developed to have lower tx fees than Legacy transactions. This is the default BTC address format as viewed on the Lattice1 under Lattice/SafeCard Wallet→Bitcoin Addresses, but can be switched to Wrapped Segwit in System Settings by disabling the bech32 option.
- Wrapped Segwit addresses begin with a '3' and are standard for most modern BTC wallets. This standard added basic scripting functionality to BTC addresses.
After you select the Bitcoin wallet derivation type, the BTC Wallet tab will appear in the menu on the left. If this is your first time using the Lattice Manager BTC wallet, you will need to load your addresses from your Lattice1, so press "Start" to load the addresses.
After the addresses are loaded, you can see your balance and the value of your Bitcoin in USD.
If you don't see your balance, try going through the different address format and reload your addresses. If you still can't see your balance, feel free to reach out to us!
To send BTC, click on the Bitcoin Wallet tab and then the send tab. Enter a receiving address and an amount then click 'Send'. You will need to approve the transaction on your Lattice1 screen.
In the BTC Wallet → History tab, you can now see a pending tx notice with a link to monitor the transaction's progress on the blockchain. BTC transfers can take around 10 minutes to confirm and reflect in your BTC wallet.
BTC uses the Unspent Transaction Output (UTXO) model which acts quite differently than the Account model Ethereum uses to keep track of wallet balances.
For receiving BTC you have two options, either scan the QR code directly from the Lattice1 screen or go to the receive tab in the Lattice Manager and grab the address(es) displayed there.
Note that every time you receive BTC, a new address is generated within your wallet and your wallet sums all the BTC in each address to display your total BTC balance in the history tab. Read more in the article explaining UTXO we linked above.