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In experimenting with the stellar DEX I've acquired 0.0001 BTC from NaoBTC. NaoBTC withdraw page states:

If your wallet or tool supports it, send your BTC asset to a address like this: 1BTCAddressYouProvided*naobtc.com We will send out bitcoin to the address you provided.

So I logged into StellarTerm clicked account-->send and in the destination field I filled 0.0001BTC<MY_WALLET_ADDRESS>*naobtc.com and got the response Unable to resolve address.

If I fill in <MY_WALLET_ADDRESS>*naobtc.com (i.e. without the BTC amount) it seems to be able to resolve the address, although I'm not sure how the transfer could then take place without me requesting a specific amount.

Any ideas on what I'm doing wrong?

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That's right, you need to put it as <MY_WALLET_ADDRESS>*naobtc.com

for amount there is a separate field in every wallet.

But for amount like yours I don't recommend you doing this. Withdrawal fee is 0.0005 BTC as far as I know (UPDATE: looks like withdrawal fee is 0.0002 BTC) , so you just gonna lose your coins. The only way is to exchange it back to XLM and work with that.

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  • Wanting to test the process and not caring about fees I sent 0.0001 BTC to <MY_WALLET_ADDRESS>*naobtc.com and while my account on stellarterm now shows I have 0 BTC (as opposed to 0.0001 before), I can't see any withdraws corresponding the transaction time in NaoBTC's withdraw query page nor do I see BTC added to my BTC wallet. It's been 80 minutes since I made the transaction, I'll wait some more to see if something changes. – hillel Jun 12 '18 at 20:07
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    as I said, it's because fee exceeds your withdrawal, it has been consumed completely. You won't see any transaction on Bitcoin network. – umbrel Jun 12 '18 at 23:57
  • Right. I was expecting it the transaction to be rejected if the fee exceeds it, but reading up a bit I realize it doesn't work that way. In any case, I retried to send 0.0006 BTC and this one got through (with a 0.0002 fee). – hillel Jun 14 '18 at 7:58
  • ok, means my info about fee amount is outdated – umbrel Jun 14 '18 at 23:45

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