To lend and borrow BTC on BiFi, the user needs three BTC addresses. Two (deposit address and repayment address) are issued by BiFi. The address for withdrawing or borrowing BTC will need to be registered by the user.
Each BTC address are used for the following:
BTC Deposit Address
Address to deposit BTC to BiFi from user's own Bitcoin wallet
BTC Repayment Address
Address to repay borrowed BTC from BiFi
My BTC Address
Address to receive BTC when withdrawing or borrowing BTC from BiFi
⚠️ Currently, you can only register 'My BTC Address' that start with 1 or bc1. We will add more Bitcoin wallets as soon we complete each testing.
Available Exchange Wallets: Bithumb, Binance, CoinOne, etc.
Unavailable Exchange Wallets: Upbit, Coinbase etc.
How to register your BTC address:
1) Once you connect MetaMask wallet to BiFi, click 'Deposit' next to BTC to have your two personal BTC addresses issued.
2) Then, enter your own Bitcoin wallet address to receive BTC when withdrawing or borrowing BTC and click 'Register' to finish registering BTC address.