Skip to main content

How to deposit bitcoin to my Bitaroo account

  • Updated

You can deposit bitcoin into Bitaroo on-chain or over the Lightning Network, both from the same Deposit screen. This guide covers both.

Before your deposit details appear, Bitaroo asks you to confirm that the bitcoin is coming from a self-hosted wallet you control. This is a quick, one-step declaration explained below.

Step 1: Confirm self-custody

Go to Account → Deposit (or Deposit in the app) and choose Deposit BTC.

Bitaroo shows a short "Self-custody origin" step.

Confirm that the bitcoin you will receive will come from a self-custodial wallet, one where the sender controls the private keys, tick the box, and select Confirm and show details.

This is required under Australia's Travel Rule. See Why do I need to verify my wallet or address? for the background on why we ask.
bitaroo-receive-declaration.png

Depositing on-chain

  1. On the Deposit screen you will see a QR code and your on-chain address.
  2. Open the On-chain address panel to copy the address, or select QR code to display it full screen.
  3. Scan the QR code, or copy the address into your wallet, and send your bitcoin.
  4. A new deposit address can only be generated once the current one has been used.
  5. Your bitcoin is credited to your account after 2 confirmations on the blockchain.

The QR code at the top of the screen works for both on-chain and Lightning payments, so most wallets can simply scan it.
bitaroo-receive-unified.png

Depositing over Lightning

The Lightning Network is a layer built on top of Bitcoin for fast, low-cost payments. The same Deposit screen handles Lightning, with two options:

  • Lightning Address. Open the Lightning Address panel to copy your address, or show its QR code. A Lightning Address is reusable, so anyone can pay it at any time.
  • Lightning invoice (for a specific amount). Open the Lightning invoice panel and select Add amount. Enter the amount, select Generate Invoice, then scan or copy the invoice into your Lightning wallet to pay it.

Please note: you can have one Lightning invoice open at a time. Once it is paid or cancelled, you can generate another. Lightning payments settle almost instantly, so the amount should appear in your balance within seconds.
bitaroo-receive-lninvoice.png

If a deposit is held

Most deposits arrive and clear normally. If Bitaroo cannot confirm that a deposit came from a self-hosted wallet you control, for example if it arrived from an address you have not verified, or from someone else's wallet, the deposit is held until you resolve it. Your funds are safe. A held deposit is not lost. It is simply waiting for you to choose how to resolve it.

On the Deposit page you will see a notice that a transaction is pending verification. Select Review, or the Resolve button on the deposit, and choose one of three options.

1. Verify ownership

Prove that you control one of the addresses the funds came from, by signing a message, providing an extended public key (or, for a multisig wallet, its output descriptor), or a satoshi test, exactly as you would when verifying a withdrawal. Once you have proven control, the funds are released and credited to your account.

Best when: the bitcoin came from your own wallet and you can prove it.

2. Forward to a verified address

Forward the funds on to a different address that you have already verified as your own self-hosted wallet. The coins move on-chain straight to a wallet you have proven is yours.

Best when: you cannot prove the source address, for example someone else sent the funds, but you want to keep the bitcoin. This is the cleanest way to take possession.

3. Return to sender

Send the funds back to one of the addresses they came from. This is the cleanest option when you would rather not proceed.

Best when: the deposit was not meant for you, or you have decided not to keep it.

Important: Before you return the funds, make sure that you, or someone you know, controls the wallet they were sent from. If no one you trust controls that wallet, you may lose access to these funds forever.
bitaroo-resolve-methods.png

For a full walkthrough of each option with screenshots, see Why a deposit is held, and how to resolve it.

Privacy Matters

Bitaroo built SHAZAM to protect your privacy. Australia's Travel Rule pushes exchanges to routinely hand customers' personal information to third parties whenever bitcoin moves to or from a custodial service.

We chose not to do that.

By confirming that you control your own wallet, we keep your personal information out of unnecessary hands, and Bitaroo never holds or controls your keys.

The short self-custody step when you receive is what lets us avoid that routine data-sharing. It keeps your deposits private while still meeting our obligations.

Still need help?

If you have any trouble depositing bitcoin, please contact our support team and we will help.

Related articles

Powered by Zendesk