Receiving Bay

For someone to send you Bay, they need to know your wallet address. It is safe to give it to them because you just encrypted it and protected it with a super strong password.

The QT Wallet will automatically generate a first address for you. To find it, simply go to the Receive BAY section using the left sidebar. In it, you will see a wallet with (no label) and an address. You can rename it by double-clicking on the Label field. You can copy your wallet address by pressing the ‘Copy Address’ button at the bottom left of this window. This places the wallet address in your clipboard so you can paste it to emails, forums and anywhere else you might need it.

address

You can create more addresses for different purposes or senders, you can create new ones by clicking the ‘New Address’ button also at the bottom left of the window. All your addresses will be in the same wallet, and protected by the same password, though they will have a different private key. You can read more about keys in geek section. (link)

Sending Bay

To send Bay from your wallet, click Send BAY in the left sidebar.

payto

You will be presented with simple form that allows you to enter details for the transaction. You will need the person you are sending Bay to’s address. Enter it in the ‘Pay To’ field. You can use the ‘Label’ field to set a descriptive label for this outgoing address, that will get added to your address book. Finally, the amount of Bay to send in the ‘Amount’ field.

Review your details and if you are ready to send, press the ‘Send’ button at the bottom right corner. You will see a popup informing you that a small transaction fee will be charged. This fee goes back to the staking network and helps protect it.

Push ok, and you are done, your Bay is on the way!

You can also send to multiple recipients at once by using the “Add Recipient”. If you have several addresses in your wallet you can choose which address to send from by enabling Coin Control in preferences.

Staking

BitBay is a peer to peer network. Security increases as the number of people that stake increases. Therefore we offer an incentive in the form of interest rate. The interest rate is 1% annually + transaction fees.

staking

To stake you have to unlock your wallet for staking. Click the ‘Unlock Wallet’ button on the bottom left. You will have to enter your password in the popup that appears. Make sure you check the “Unlock for staking only” checkbox. Press the OK button and you’re done. Your wallet will begin staking and you will receive 1% interest rate on your Bay. The interest rate is an yearly average, so you might get more or less than expected for shorter periods of time. If you close your wallet, or turn off your computer, you will have to unlock it again to continue staking.

Block Explorer

There is a built in block explorer that you can use to see transactions on the bitbay network. It does the job, but you might like the web based one better: CryptoID Block Explorer

The block explorer can be used to track any transaction on the network. If you want to hide your transactions for some reason you can easily do so by sending your Bay to an exchange first.