What's Direct Peg-in and how does It work?

A Direct Peg-in address is a Bitcoin address that automatically converts BTC to L-BTC when you send BTC to it.

To enable the Direct Peg-in feature, go to:

Settings > Advanced > toggle Direct Peg-in on.

 

Then, to create a Direct Peg-in address, from the home page of AQUA, go to

Receive > Liquid Bitcoin > Direct Peg-in

An example of a Direct Peg-in address is shown below.

 

Once you have created a Direct Peg-in address, any bitcoin you send here will be converted to L-BTC automatically. The conversion will usually happen after 2 BTC confirmations (~20 minutes), however, the conversion can sometimes take 102 BTC network confirmations (~17 hours).

Q: Do Direct Peg-in addresses expire?

Yes. Direct Peg-in addresses expire 2 weeks after the Liquid Federation updates their watchmen, which happens every 12-18 months. Therefore, Direct Peg-in addresses are valid for a minimum of 14 days, but cannot be guaranteed to work longer than that.

Q: Can I re-use a Direct Peg-in address?

Direct Peg-in addresses can be re-used, but it is generally not recommended. Re-using Direct Peg-in addresses can compromise privacy and increase the risk of errors, such as using an old address that no longer works. 

Note: Direct Peg-in addresses older than 7 days always take 102 BTC network confirmations to complete.