For example, say you want to convert your PRV earnings to privacy BTC (pBTC) on pDEX. Here’s a quick walkthrough of the process:
1. Withdraw your PRV earnings from your pNode account
In the Node page, select the pNode that you want to withdraw earnings from. Click on ‘Withdraw earnings’ in the bottom pop-up and you will see your earned PRV in your wallet view. Please note that this may take a while to complete – up to 24 hours in some cases. This speed will improve shortly as the process is automated. Your wallet balance will update when the withdrawal is complete.
2. Deposit PRV to start trading
To start trading, first you’ll need to deposit PRV into your Incognito trading account. Open up pDEX, and:
Note: by default, withdrawing earnings from your pNode will move them to your pNode account (its name is the same as your Node ID). You can view your list of accounts by tapping the gear icon on the top left of your main wallet screen
Then customize the network fee if you wish. As usual, higher network fees result in faster transaction times.
Make sure everything is in order, then tap ‘Deposit’. Your trading account balance will take a couple of minutes to update the PRV balance.
3. Trade PRV to Privacy Bitcoin (pBTC)
It’s simple to make the 100%-confidential trade PRV to pBTC.
Select the trading pair PRV/pBTC
Enter the amount you would like to trade and the algorithm will determine how much pBTC you will get
Customize your trading fee or leave it as the default if you want
Enter the minimum amount you will accept for the trade
Trade initiated! Most trades will be successful, and your balance will update in a few minutes. In rare cases, network fees or trading fees will be insufficient, and you might have to initiate the trade again with adjusted values.
Now, either continue trading or withdraw your funds from your trading account.
4. How to withdraw your pBTC from pDEX account to your main account
Tap the menu on the top right and select withdraw
Select the account you’d like to withdraw pBTC to
Enter the amount of pBTC
Select the network fee or use the default
Then tap ‘Withdraw’
In a matter of minutes, you will see pBTC appear in your main account.
pBTC and BTC maintain a 1:1 value. You can stop here if you’d like to keep your cryptocurrency private, but if you’d like to move it out of the Incognito ecosystem, here’s how:
5. Turn pBTC to BTC
First of all, you turn your pBTC into BTC by using the Withdraw feature (you can find this feature by clicking the three dots in the top-right corner of the pBTC balance account screen).
Fill in how much you want to withdraw, and where you want to send it.
That’s it! Now, you have BTC in the wallet you sent it to.
Note for those who want to cash out to fiat: you can trade BTC (and many other top cryptocurrencies) on public exchanges like Binance or Coinbase to receive fiat money like USD or EUR.