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Consolidate Account Balance

Overview

For account-based assets, the spendable balance of a wallet is the balance of the funds in the root address. In order to enable the maximum withdrawal from a wallet with multiple receive addresses, you must consolidate the balance by sweeping assets to the root address. The confirmed balance of a wallet is the balance of the root address plus all the receive addresses.

Some blockchains require a minimum balance in a receive address. When you consolidate a wallet, the minimum balance remains in the receive addresses. This results in your spendable balance being slightly less than your confirmed balance.

Consolidating is a transaction from your receive address to your root address. You can consolidate a maximum of 750 addresses per transaction, except for Solana, which has a limit of 500 addresses. Consolidation transactions follow the normal transaction flow, requiring signatures, approvals, and sending, as outlined in Wallets Overview.

Prerequisites

Steps

  • SDK
  • API
  • Express
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const BitGoJS = require('bitgo');
const Promise = require('bluebird');

const bitgo = new BitGoJS.BitGo({ env: 'test' });

const coin = 'talgo';

// Set your wallet id
const walletId = '';

// Set your wallet passphrase
const walletPassphrase = '';

// Set OTP code
const otp = '000000';

// Set your access token here
  bitgo.authenticateWithAccessToken({ accessToken });

  const wallet = await bitgo.coin(coin).wallets().get({ id: walletId });
  // Wallet's base address - only address in the wallet that can send funds to other accounts
  console.log('Base Address:', wallet.coinSpecific().baseAddress);
  // Confirmed balance - sum of the balance of all the wallet's addresses
  console.log('Confirmed Balance:', wallet.confirmedBalanceString());
  // Spendable balance - balance of the base address
  console.log('Spendable Balance:', wallet.spendableBalanceString());

  // unlock the session for sending funds
  const unlock = await bitgo.unlock({ otp, duration: 3600 });
  if (!unlock) {
    throw new Error('error unlocking session');
  }

  const consolidationTxes = await wallet.buildAccountConsolidations();

  try {
    for (const unsignedConsolidation of consolidationTxes) {
      const res = await wallet.sendAccountConsolidation({ walletPassphrase, prebuildTx: unsignedConsolidation });
      console.dir(res, { depth: 6 });
    }
  } catch (e) {
    console.error(e);
  }
);

Step Result

  • Custodial
  • Self-Managed

You receive a calendar invitation by email to schedule video verification with a BitGo operator.

Next

  • Custodial
  • Self-Managed
  1. If the transaction requires admin approval, it remains in a pending approval status until receiving final approval.
  2. Open the email from BitGo and select a date and time for video verification with a BitGo operator.

After verification, BitGo signs and broadcasts the transaction to the network for confirmation.

See Also