Guide to Transferring Bitcoin from Bitkub to Trezor Hardware Wallet

Enhance security with a Hardware Wallet

You've chosen the best path for self-custody! Moving digital assets from an Exchange (Bitkub) to a Hardware Wallet (Trezor) is a shift from "online" storage to "offline" storage (Cold Storage), which is the highest security standard in the crypto world.

This guide will walk you through each step in detail to ensure your coin transfer is accurate and secure.

Part 1: Preparing Your Hardware Wallet (Trezor)

Before entering the Bitkub app, we need to prepare Trezor by creating an "Address" first. (If you have other Hardware Wallet models, you can use them as you like, but in this article, I will use Trezor as an example for receiving coins.)

1.1 Prepare Trezor and Create an Address

• Open Trezor Suite: Connect your Trezor device, with the Seed Phrase already entered, to your computer and open the Trezor Suite software.

• Bitcoin (BTC)

2.1 Select an account and click "Receive": Select the desired coin account (Bitcoin) and click the "Receive" button to generate a receiving address. Then click "Show full address" to display the receiving address.

2.2 Confirm on device (Very Important!): Trezor Suite will display the Address. You must confirm that the address on your computer screen matches 100% the address on your Trezor device screen.

Reason: To prevent malware that might change the Address on your computer screen without your knowledge.

2.3 Copy Address: Copy the confirmed Address from Trezor Suite and keep it ready.

This completes the preparation of the "Address" for receiving Bitcoin.

[Additional explanation for beginners]: Normally, each time you click "Receive" on Trezor, the system will always show you a new receiving address. This is a best practice to maintain privacy in crypto transactions. So, don't worry if the address each time is different from the address you used before, because Trezor intentionally generates a new address every time so that no one can know how many coins you have in this wallet in total.

Part 2: Initiate Transfer from Bitkub (General Steps)

Choosing the Bitcoin Network

1. Select Bitcoin Network (BTC)

If you want to store Bitcoin, you must use only the Bitcoin Network (BTC). This is because Bitcoin on other networks is not real Bitcoin, but Wrapped Bitcoin (WBTC). Therefore, if you want to store actual Bitcoin, you must choose the Bitcoin Network.

2. Select Other Networks

Bitcoin on other networks is not Bitcoin, but Wrapped Bitcoin (WBTC). The question is, what is Wrapped Bitcoin (WBTC) Token?

The principle of WBTC is to collateralize real Bitcoin and then create WBTC in an equal amount (though it might not be exactly equal in reality). This is similar to creating stablecoins like USDT, USDC, where fiat currency is collateralized to create an equal amount of coins.

So, is WBTC Token Bitcoin?

The answer is no, it's not real Bitcoin. To make it easier to understand, WBTC Token is like a gold certificate. When we buy gold, do we want gold or a gold certificate? In the past, gold certificates were useful because they allowed for easy transfer of ownership.

Therefore, we need to reconsider our purpose for buying Bitcoin. Why are we buying it? If we intend to use it as collateral for other assets or for short-term speculation, then WBTC Token might be suitable. But if we want to hold actual Bitcoin, then we should purchase Bitcoin on the Bitcoin Network.

Common Forms

• BEP20 (BSC): BTCB
• ERC20 (Ethereum): WBTC
• Solana: BTC (Wrapped)

3. Select Lightning Network (LN)

What is Lightning Network?

The Lightning Network (LN) is a Layer 2 network built on top of the Bitcoin Blockchain (Layer 1), operating on a separate layer (Off-chain) rather than directly on Layer 1.

The Lightning Network was designed to solve the problem of slow transaction processing on the Bitcoin Blockchain (Scalability Problem) by making BTC transfers faster and cheaper. It is gaining popularity and is supported by more exchanges.

Lightning Network conducts transactions off-chain, using what is called Payment Channels. Once a Channel is established, the two parties can exchange coins. This involves creating a Channel and signing transactions that update the balance of the Lightning Channel, requiring both parties to sign and approve all transactions within the channel.

Read more here

Initiate Transfer from Bitkub

Go to the "Withdrawal" page on Bitkub

• Access the Bitkub app.
• Go to the “Wallet” menu in the bottom right corner to view your digital assets.
• Select “Withdraw” to withdraw the desired coin.
• Select the coin you wish to transfer, such as BTC, ETH, USDT. In this guide, we are transferring Bitcoin, so select Bitcoin.

Entering BTC Transfer Information on Bitkub

• Address: Paste the BTC address copied and confirmed from Trezor (check the first 5 and last 5 characters to ensure they match).
• Select Network: Choose Bitcoin Network or BTC.
• Amount: Enter the amount of BTC you wish to withdraw.
• Check the fees and the amount of coins you will receive, then click "Review Order."
• Re-verify the "Destination Address" (this is very important!). If correct, you can click "Confirm."
• Select the identity verification method you registered with Bitkub.

Identity Verification Before BTC Transfer on Bitkub

• If using another type of identity verification, select the one you have set up.
• Click "Send Code" to request an OTP via the registered phone number.
• Click "Send Code" to request an OTP via the registered email address.
• Open the Google Authenticator app, enter the code from the Google Authenticator app into the Bitkub app, and click "Confirm."

Post-Bitcoin Transfer Process on Bitkub

• Once confirmed, the system will show "Processing," meaning the transaction is being processed.
• Wait for the system to transfer the coins (approximately 10-30 minutes), then check the transaction status.
• Go to the "Wallet" menu, click the icon in the top right corner as shown, to view "Transaction History."
• Select the desired transaction to check the details.
• If the status shows "Successful," it means the coins have been approved for withdrawal from the Exchange, but may not have been transferred to your Address yet, and may take approximately 10-15 minutes.
• On Bitkub, the transaction will be in "Processing" status and will be completed when it shows "Successful" after approval from Bitkub.
• Check the transaction status at the "Destination Address" on your Trezor (Hardware Wallet) app to see if the coins have been received.

Part 3: Verify success in Trezor Suite (Hardware Wallet)

• Status on Bitkub: The transaction will be in "Processing" status and will be completed when it shows "Complete".
• Status in Trezor Suite: Once the transaction is confirmed, you will see the transferred coins appear in Trezor Suite (this may take approximately 10-30 minutes, depending on the Exchange and the time).

Initially, the Trezor Suite will show the transaction amount (e.g., +13,000 sat). However, note that this transaction will show "Receiving BTC" and "Unconfirmed," which means the transaction is in process and not yet complete. You will need to wait for a while until the transaction shows "Received BTC" as shown in the example below.

Once your transaction shows "Received BTC" and "Confirmed," you have succeeded! Your digital assets are now securely stored in your Hardware Wallet, controlled solely by you.