How to Send Safex Tokens from the TWM wallet?

To send Safex Tokens (SFT) from the TWM wallet, you need to install TWM wallet and open/restore a wallet address containing some Safex Tokens and Safex Cash that will be used for fee. In this text, we will cover sending Tokens from the latest TWM Wallet. The first thing to do is to open your wallet and let it sync to Top Block.

Open TWM Wallet

To open a Wallet, you need to have a .keys file and password or backed up keys/seeds to recover the wallet. When you open it, you will be on the Home page of the wallet. On the left side, you will see the balance - amount of the Tokens and Cash you have. Go on the Tokens tab.

Send Safex Tokens

Sending Safex Tokens is very simple, the same as sending Safex Cash, but Cash is sent from the Home page of the wallet, whereas Tokens are sent from the Tokens page. In the first field - receiving address - you should write where you are sending the tokens (public address), and in the second, how much you are sending.

How to know where to send Tokens?

If you are sending tokens to someone, ask them to share their Safex Public Address from their TWM Wallet. They can send the address in the message, and you can copy it and paste it into your wallet in the field we mentioned. If you are sending coins to yourself to another address, copy your other public address by going into that wallet and copying from the Home page.

If you are sending coins to your account on the exchange, log in to that exchange, go to Balances, click on the Deposit and copy the Safex Token address. After that, you can paste it into your Safex Wallet in the ''receiving address'' field.

Note: Safex Wallet has one address for both Tokens and Cash. On Xcalibra and other exchanges, they have separated deposit addresses. Make sure you don't send Cash on Token's address and vice versa.

Amount

You can’t send more tokens than you have in your wallet. In addition, when you are sending SFT, you can send all your balance, but may need to reduce the mixin to 1 to empty the balance. SFT is NOT divisible.  The smallest SFT is a single whole token.

Mixin

Mixin is ring size, and it defines the level of obfuscation applied to a sent transaction. The default mixin value in the TWM wallet is 7. However, you can change this ring size and choose another mixin value, from 1 through 6 - that will reduce the size of the ring signature for the transaction and thus affect the level of obfuscation (privacy), but can also reduce your transaction fees.

Learn more about Mixin here.

Fee

It is necessary to pay some fee for every transaction on Safex Blockchain and almost all others. Lowering the number of mixin will result in smaller fees. The fee is paid in Safex Cash even if you are sending Safex Tokens.

Tip: If you want to send both Tokens and Cash from your wallet, make sure you send Tokens first, because you will need some small amount in Cash to pay for fees.

So, when you decide where to send, how much, and mixin, you can click on Send button.

Then you will get this message asking you to confirm sending:

After that, you will get a message displaying the exact amount of the fee:

After you confirm this, you will get one last message with confirmation of submission of the transaction:

Soon after, you will see pending on your Home page and the History Transaction page. This means your transaction has been processed, and your sent Tokens have been sent to their new address. As soon as you finish clicking the pop ups, you may notice many more coins are gone from your wallet than you actually sent. Your balance will show the correct balance after 10 blocks, when your “change” returns to your available balance. A complete explanation has been provided here.

If you have sent the coins to another wallet you own, you will see that the amount of Safex Token has increased on it, when you next open it in TWM wallet.

Learn how to buy Safex Tokens on Xcalibra exchange:

Read more similar posts.