Guide to transferring Bitcoin from Bitkub to OneKey Hardware Wallet

Table of Contents

Part 1: Preparing Your Hardware Wallet (OneKey)
1. Prepare OneKey and Create an Address
2. Click "Receive"
3. Confirm on Device (Very Important!)
4. Copy Address
Part 2: Initiating Transfer from Bitkub (General Steps)
Choosing the Bitcoin Network
1. Select Bitcoin Network (BTC)
2. Select Other Networks
3. Select Lightning Network (LN)
Initiating Transfer from Bitkub
Go to the "Withdrawal" Page on Bitkub
Entering BTC Transfer Information on Bitkub
Identity Verification Before BTC Transfer on Bitkub
Part 3: Checking Transactions on the OneKey App

Enhance Security with a Hardware Wallet

You've chosen the best path for self-custody! Transferring digital assets from an Exchange (InnovestX) to a Hardware Wallet means shifting from "online" storage to "offline" (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 (OneKey)

Before transferring Bitcoin from an exchange to a Hardware Wallet and into the Binance app, we need to use OneKey to create a "Receive Address" first (If you have other Hardware Wallet models, you can use them as you wish, but in this guide, I will use OneKey as an example for receiving coins.)

1. Prepare OneKey and Create an Address

Open the OneKey App, connect your OneKey device with the generated Seed Phrase to a computer or other device, such as a smartphone or tablet. Then, open the OneKey App on the desired device.

2. Click "Receive"

Select the coin account you wish to receive (Bitcoin).
Click the "Receive" button to generate a receive address.
Select the coin you wish to receive, choose “BTC”.

3. Confirm on Device (Very Important!)

The OneKey App will display an address. You must confirm that the address on the computer screen matches the address on your OneKey device screen 100%.

This is to prevent malware that might change the address on your computer screen without your knowledge.

4. Copy Address

Copy the confirmed address from the OneKey App. This completes the preparation of your "Receive Address" for Bitcoin.

Part 2: Initiating 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). Bitcoin on other networks is not true Bitcoin but rather Wrapped Bitcoin (WBTC). Therefore, if you want to store real Bitcoin, you must select the Bitcoin Network.

2. Select Other Networks

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

The principle of WBTC is to collateralize real Bitcoin and create WBTC in an equal amount to what is collateralized (it might not be exactly equal in practice), similar to creating stablecoins like USDT, USDC, which are collateralized by fiat money to create coins in equal amounts.

So, is WBTC Token Bitcoin?

The answer is no, it's not real Bitcoin. To illustrate easily, WBTC Token is like a gold ticket. When you buy gold, do you want actual gold or a gold ticket? In the past, gold tickets were useful because they granted ownership and were easy to transfer.

Therefore, we need to consider why we are buying Bitcoin. If you want to collateralize it for other assets or speculate for short-term gains, then buy WBTC Token. But if you want to hold real Bitcoin, then buy Bitcoin on the Bitcoin Network.

Common formats:

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

3. Select Lightning Network (LN)

What is the 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).

The Lightning Network was designed to solve the problem of slow transaction processing (Scalability Problem) on the Bitcoin blockchain by speeding up BTC transfers and reducing fees. It is gaining popularity and is supported by more exchanges.

The Lightning Network conducts off-chain transactions through "Payment Channels." Once a channel is established, two parties can exchange coins by creating a channel and signing transactions that adjust the channel's balance. This requires both parties to sign all transactions within the channel.

Initiating Transfer from Bitkub

Go to the "Withdrawal" Page on Bitkub

Open the Bitkub app.
Go to the “Wallet” menu in the bottom right corner to view your digital asset list.
Select “Withdraw” to withdraw the desired coin.
Choose 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 for correctness).
Select Network: Choose Bitcoin Network or BTC.
Amount: Enter the amount of BTC you wish to withdraw.
Check fees and the amount of coins you will receive, then click "Review information."
Double-check 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

Choose to use other identity verification types as set up.

Click “Send Code” to request an OTP code via your registered phone number.
Click “Send Code” to request an OTP code via your registered email.
Open the Google Authenticator app, enter the code from the “Google Authenticator” app into the “Bitkub” app, and click “Confirm.”

Post-Bitcoin Withdrawal Process on Bitkub

Once confirmed, the system will show "Processing," meaning the transaction is being processed.
Wait a moment for the system to transfer the coins (approximately 10-30 minutes), then check the transaction status.
Go to the "Wallet" menu, click the icon on the top right as shown in the image to view "Transaction History."
Select the desired transaction to check its 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. It might take another 10-15 minutes.
The status on Bitkub will be "Processing" and will be complete when it shows "Successful" after the transaction is approved by Bitkub.
Check the transaction status at the "Destination Address" on your Trezor (Hardware Wallet) app to see if you have received the coins.

Part 3: Checking Transactions on the OneKey App

OneKey App Status: Once the transaction is confirmed, you will see the transferred coin balance appear in the OneKey App (this may take approximately 10-30 minutes, depending on the exchange and timing).

How to Transfer Bitcoin from Bitkub to OneKey Hardware Wallet