Anchors

Deposit Bitcoin to Existing Account on StellarTerm using Papaya

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umbrel
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Use the Papaya Anchor to Add Bitcoin to your Stellar Account

Papaya offers an easy way to acquire anchored Bitcoin for use in the Stellar network - whether it’s trading on StellarTerm or paying for services quickly and cheaply. In this tutorial, we will focus on Bitcoin, but it's a similar process for the other assets that Papaya anchors: BCH, ETH, LTC, BAT, ICN, KIN, LINK, MTL, OMG, REP, SALT, ZRX.

Set Trustline

Sign into StellarTerm (https://stellarterm.com/) with your desired Stellar account. Click on the “Accounts” link in the header, then the “Accept assets” link in the subheader. Scroll down to the BTC asset by Papaya (apay.io) and click the green “Accept BTC” button. Keep in mind that setting a trustline increases your minimum balance.

Select Bitcoin on Papaya

Visit https://apay.io/ and select “BTC” for Bitcoin.

Send BTC to Bitcoin Address

Paste in your Stellar address in the form that then appears on the Papaya website, click “Get BTC Address”, and then send Bitcoin to the Bitcoin address that appears. The minimum deposit is 0.0005 BTC. Once your Bitcoin transaction is confirmed, your anchored BTC will appear on your Stellar address.

You now have anchored Bitcoin that you can use for trading on the Stellar DEX or other purposes. You can also acquire other anchored assets that Papaya anchors like Ethereum, Litecoin, and ZRX.

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