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Spending & sending Bitcoin from your vault
Spending & sending Bitcoin from your vault

Steps for creating and signing send transactions from your vault.

J
Written by Jake Morr
Updated over 6 months ago

Whether you are spending bitcoin directly, sending to another wallet, or transferring to an exchange, a send transaction will require authorized signature(s) from the key(s) paired with your vault.

If you are sending from a singlesig vault, you will be required to sign the transaction once. For a multisig vault transactions, you will need to sign with a majority of keys.


Demo Video

Watch @JoeConsorti fund a multisig vault and then sign a send transaction with a Ledger Nano X and mobile key. Subscribe to Theya for market updates and more tutorials.


How To Send Bitcoin From Your Vault

  • Start from your Theya Vault homepage.

Create The Send Transaction

  • Click the ‘Send’ option to initiate the process transferring bitcoin to a recipient address.

Ensure the recipient's Bitcoin address is accurate. If you send Bitcoin to a wrong address, your Bitcoin transaction cannot be reversed. Always double-check the address before transferring.

*StudioLayerOne is the example vault name.

  • Enter the recipient address using any of the methods below:

    • Paste the address manually.

    • Select the QR icon and scan the recipient address QR code.

    • Select the QR icon and select a QR code screenshot from your mobile phone gallery.

    • You can click on a recently used address, but ensure it is the correct destination.

  • Enter amount to be transferred.

    • Use the icon on the right to toggle between BTC and USD.

    • Enter a custom amount, select desired percentage of vault holdings, or select max to transfer your entire balance.

  • Continue to Preview Transfer screen, verify recipient address, and select transaction speed.

Keep in mind that transaction fees are variable and can change based on the Bitcoin network's current activity.

*StudioLayerOne is the example vault name.


Sign The Transaction

  • With the transaction created, you will now need to sign with the key(s) paired with your Theya vault. The process is the same for both singlesig and multisig.

With a multisig transaction, you will be prompted to sign with the second key following the completion of your first key signature.

  • Select ‘Sign with [Device Name]’.

    • For a mobile key, simply swipe and authorize with Face ID or your device passcode.

    • For a hardware device, instructions will vary based on air-gap, bluetooth, QR code, and USB connectivity options (see specific instructions).

Note: If your hardware device(s) was set up as a hidden wallet, be prepared to enter your passphrase.


Device Signing Instructions


  • When receiving emailed instructions, check the inbox of the email associated with your Theya account. The ‘Sign Transaction’ button in the email will open up a web application (desktop browser tab) with prompts for your specific device(s).

For multisig, if Key 2 is a cosigner, instructions for that specific hardware device or mobile key will be emailed to the cosigner.

*Email you will receive.


After Signing

  • For a singlesig vault transaction, after the signing with your one device, your transaction can be broadcasted to the Bitcoin network.

  • For a multisig vault transaction, the Theya app will provide updates on the status of key signatures. Once both signatures are completed, your transaction can be broadcasted to the Bitcoin network.

*Example of signed multisig transaction using two Trezor devices.

  • Once signed and broadcasted, your transaction is now complete!

  • Select View on Explorer to monitor your transaction in Mempool.Space or check confirmation status on the Theya Vault homepage.

    • Your vault balance will adjust after 3+ confirmations.


Schedule a free consultation to discuss your specific needs!


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