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Bitcoin

Overview

Bitcoin (BTC) is the native asset of the Bitcoin blockchain. It utilizes:

  • UTXO model
  • ECDSA signature algorithm

Bitcoin is the foundational cryptocurrency created in 2009 by an anonymous person or group known as Satoshi Nakamoto. The Bitcoin blockchain utilizes decentralized network nodes to verify and record transactions, ensuring transparency and security, while also utilizing cryptography to ensure anonymity. You can buy, sell, and exchange bitcoin through various platforms and use it for a wide range of goods and services, making it a popular choice for digital transactions and investments.

Wallets Types

BitGo enables holding bitcoin in the following wallet types:

Multisig ColdMultisig HotTSS ColdTSS Hot
Custodial✅N//A❌N/A
Self Managed✅✅N/A❌

Ticker Symbols

MainnetTestnetTradingTestnet Trading
BTCTBTCOFCBTCOFCTBTC

Faucet

You can use a faucet to obtain free testnet bitcoin for development and testing purposes.

Faucet: https://coinfaucet.eu/en/btc-testnet/

Units

Bitcoin is divisible by 10-8 and the base unit is a satoshi (sat):

  • 1 bitcoin = 100,000,000 satoshis
  • 1 satoshi = 0.00000001 bitcoin

You can pass balances in string or integer format. However, BitGo recommends using string format to ensure values don't exceed the programmable number limit.

Tokens

The Bitcoin blockchain doesn't natively support tokens.

Fees

Bitcoin has the following fees:

  • Minimum fee = 1000 sats
  • Default fee rate = 1000 sats/kvByte or 1 sat/vByte (0.00000001 BTC/vByte)

Learn more about fees at developer.bitcoin.org.

Create Wallet

  • cURL
  • JavaScript
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export BITGO_EXPRESS_HOST="<YOUR_LOCALHOST>"
export COIN="tbtc"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"
export LABEL="<DESIRED_WALLET_NAME>"
export PASSPHRASE="<YOUR_BITGO_LOGIN_PASSPHRASE>"
export ENTERPRISE_ID="<YOUR_ENTERPRISE_ID>"

curl -X POST \
  http://$BITGO_EXPRESS_HOST:3080/api/v2/$COIN/wallet/generate \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN" \
  -d '{
    "label": "'"$LABEL"'",
    "passphrase": "'"$PASSPHRASE"'",
    "enterprise": "'"$ENTERPRISE_ID"'", 
    "disableTransactionNotifications": true,
    "disableKRSEmail": true
}'

Create Address

  • cURL
  • JavaScript
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export COIN="tbtc"
export WALLET_ID="<YOUR_WALLET_ID>"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"

curl -X POST \
  https://app.bitgo-test.com/api/v2/$COIN/wallet/$WALLET_ID/address \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN"

Note: BitGo supports a variety of address types for bitcoin. To learn more, see Reference: Address Types.

Consolidate Balance

Bitcoin is a UTXO asset and therefore doesn't require consolidating to the base address in order to use the maximum spendable amount.

Estimate Fee

  • cURL
  • JavaScript
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export COIN="tbtc"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"

curl -X GET \
  https://app.bitgo-test.com/api/v2/$COIN/tx/fee \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN" \

Transact

  • cURL
  • cURL (send to many)
  • JavaScript
  • JavaScript (send to many)
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export BITGO_EXPRESS_HOST="<YOUR_LOCALHOST>"
export COIN="tbtc"
export WALLET_ID="<YOUR_WALLET_ID>"
export ACCESS_TOKEN="<YOUR_ACCESS_TOKEN>"
export ADDRESS="<DESTINATION_ADDRESS>"
export AMOUNT="<AMOUNT_IN_BASE_UNITS>"
export WALLET_PASSPHRASE="<YOUR_WALLET_PASSPHRASE>"

curl -X POST \
  http://$BITGO_EXPRESS_HOST:3080/api/v2/$COIN/wallet/$WALLET_ID/sendcoins \
  -H 'Content-Type: application/json' \
  -H "Authorization: Bearer $ACCESS_TOKEN" \
  -d '{
    "address": "'"$ADDRESS"'",
    "amount": "'"$AMOUNT"'", 
    "walletPassphrase": "'"$WALLET_PASSPHRASE"'"
}'

Stake

Bitcoin isn't a stakeable asset.

See Also