Testnet Step by Step Guide
Last updated
Last updated
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Go to the testnet website for Algomint: https://testnet.algomint.io
Signup to create your account using either:
any email account (@gmail.com, @outlook.com, etc.) with a password
your google account linked to browser or android device
Next, setup two factor authentication (2FA).
The default (preferred) method uses the Google Authenticator app.
Install Google Authenticator app on phone
Click + in app to bring up QR scanner to read the displayed QR code on algomint website
Enter the timed code into the screen prompt
In order to use the Algomint services, you must first complete the KYC and email verification. These ensure protection against money laundering.
Perform KYC by clicking 'Complete KYC' or clicking the 'KYC' tab on the right.
Select method of KYC (Passport, Driver's License etc.)
Upload the requested images and complete facial image collection. You will need to enable camera access via your computer or your phone.
The above steps can take up to 15 minutes, but normally take about a minute. Once it is completed your dashboard in Algomint will say "KYC Verified" within the KYC tab.
Click on 'Account Details'
Click 'Verify Email'. You will receive an email to your login email address. This can end up in the "Spam" folder, so be sure to check that folder if you do not see the verification email in your inbox.
In the email, click your verifiation link
Now in your 'Account Details' tab it will say "Verification Successful"
At this stage you should ensure you've performed the following tasks:
Note: When adding assets, please ensure both the name and asset ID match the table above.
If you would like to mint goETH:
Have an ETH wallet with some additional ETH to cover the sweeping fee* in addition to the asset you wish to mint
If you would like to mint goBTC:
Have a BTC wallet with some additional BTC to cover the sweeping fee* in addition to what you want to mint.
Note: Please do not use an exchange wallet, smart contract wallet, or Gnosis Safe wallet!
Recommended Ethereum Wallets: Metamask
Recommended BTC Wallets: BitPay, BRD
Connect your Algorand wallet as well as a BTC and/or ETH wallet. It should look similar to this on the 'Wallets' tab:
NOTE: This is now going to be the section that people (including myself) stumble on
Go to Bridge tab and ensure that the Mint tab is selected. Minting process converts your existing ETH or BTC into the respective ASA version goETH or goBTC.
Select BTC or ETH by clicking on the icon left of the quantity box.
Input a quantity of ETH or BTC testnet tokens that you want to convert. This value must exceed 0.01 ETH or .001 BTC.
Select the Algorand wallet you want goBTC/goETH deposited into. If you have just one wallet, it will auto-select that one.
Drag the mint slider from left to right to initiate the Minting process.
Now a new screen will show that facilitates the ETH/BTC to goETH/goBTC conversion. For example: during ETH to goETH process it will display the following:
How much ETH to deposit into the 0xb97...6074 account (receiving escrow wallet)
How much time you have to deposit into the escrow account before the transaction times out
How much goETH you will receive in exchange for depositing the ETH quantity you entered earlier
While transaction status is PENDING, click on the escrow address (eg 0xb97..6074) to copy it to your clipboard. You can always find this minting order and its information in the History tab at testnet.algomint.io.
Go into your BTC or ETH wallet interface (bitpay for BTC and MetaMask for ETH) and hit SEND.
Paste in the escrow address and then enter the exact amount you entered for quantity in the beginning.
NOTE: Do not send any value besides the number you entered for minting. .009 ETH or .011 ETH for example shown above will not trigger the minting process.
Once you send ETH or BTC to the escrow account, the transaction status will change from PENDING to CONFIRMING. At this point, you can sit back and relax while waiting for the ethereum or bitcoin blockchains to finalize the transaction (zZzz….). This can take 5 min for ETH or 1 hour for BTC.
With the funds confirmed and finalized in the escrow account, you will receive the listed goBTC/goETH and the transaction status will change from CONFIRMING to COMPLETE.
Congrats you now have some wrapped BTC/ETH goodies: goBTC/goETH ! Now you can move the wrapped BTC/ETH assets around with .001 algo tx fees. This unlocks wrapped pair swapping on a LP/dex or whatever else you want to do with it.
Want to switch back to ETH or BTC and transact within their blockchains and pay on average $2 or more again to do a transaction? No problem (zzZzZ…), just follow the next steps.
Head back to testnet.algomint.io to the Bridge tab.
This time select the Unlock tab and select ETH or BTC from the dropdown left of the quantity field.
Input how much goBTC or goETH you want converted back into ETH or BTC.
Select your BTC or ETH wallet. If you only have one wallet, it will be auto-selected.
Drag the slider to “Unlock”
Now a new screen will show that facilitates the goETH/goBTC to ETH/BTC conversion. For example: during goETH to ETH process it will display the following:
How much goETH to deposit into the OYUR2...AXU4 account(receiving escrow wallet)
How much time you have to deposit into the escrow account before the transaction times out
How much ETH you will receive in exchange for depositing the goETH quantity you entered earlier
While transaction status is PENDING, click on the escrow address (eg OYUR2..AXU4) to copy it to your clipboard. You can always find this Unlock order and its information in the History tab at testnet.algomint.io.
Go into your Algorand testnet wallet (wallet.myalgo.com) that you added to algomint and hit SEND.
Select goETH/goBTC from the list of assets (default is usually Algo).
Paste in the escrow address and then enter the exact amount of goETH you entered for quantity in the beginning.
NOTE: Do not send any value besides the number you entered for minting. .009 goETH or .011 goETH for example shown above will not trigger the process.
Sign your transaction.
Once you send goETH or goBTC to the escrow account, you must wait for the ethereum or bitcoin blockchains to finalize the transaction (zZzz….). This can take 5 min for ETH or 1 hour for BTC.
With the funds confirmed and finalized in the escrow account, you will receive the listed BTC/ETH and the transaction status will change to COMPLETED.
Congratulations! You are now back to BTC/ETH :)
| Name | Asset IDs |
|---|---|
goBTC
goETH
goMNT
