Open the imToken APP , then go to the market page by selecting the ”Market” on the navigation bar, you will find imBTC DApp on this page and can use it to redeem BTC.
Detailed redeem steps:
- Switch to the ETH wallet which has received imBTC;
- Open the imBTC DApp and go to redemption page;
- Enter the number of BTC you want to redeem and the BTC wallet to receive BTC;
- Click “Redeem” button；
- Input your wallet password and click ”Confirm” to send the redemption request.
When the status of imBTC transaction is successful, the BTC will automatically be sent to your BTC collection wallet, you set earlier. You will receive BTC in about 60 minutes, please be patient. On the imBTC DApp homepage, you can see recent redemption records.
- Distribution of revenue needs to be triggered manually. Thus, we suggest you to distribute the income actively before you redeem your BTC. When the account has received the income, you can make a redemption request.
- The limitation of every redemption is between 0.01 to 10 BTC. A manual audit mechanism will be triggered when the number of a single redemption is over 1 BTC or a single day cumulative redemption quantity exceeds 10 BTC. We will send BTC to users after the audit is finished (the manual audit will complete within 24 hours) .
- The transaction fee of every single redemption is 0.0005 BTC and is paid by users.
- Before you make a redemption, please make sure the wallet address to receive BTC is correct. You can click ”Wallet” button to switch the address and you can also input the address manually.
- When the burning of imBTC is finished, BTC will be sent to user wallet address. The transaction of BTC needs 6 block confirmations, it will take around 60 minutes. So it takes 60 minutes to receive BTC that you redeem every time.