Loading Bitcoin onto a Polymerbit Wallet
Note: This guide is intended for Bitcoin (BTC) only.
Mining fees apply. The Mycelium app on Android (12) has been used for this guide, other apps offer similar features and it is up to the end user to decide which is best to use. Exodus is recommended for iOS. Polymerbit doesn't manage these third-party apps, so current or future functionality cannot be guaranteed.
If your wallet lacks a direct scan feature, you can scan the QR code using your phone's camera, then copy and paste the address (usually starting with 'bc1').
Known working alternatives for loading (07.2023):
Android alternatives: Blockchain Wallet, Bitpay, Coinbase, Exodus
iOS alternatives: Blockchain Wallet, Bitpay, Coinbase, Exodus
Locate the Public Key
Find the public key on your Polymerbit note. You'll need the QR code for the following steps.
Open the Mycelium App
Launch the Mycelium app on your device.
Navigate to the Balance Tab
Go to the balance tab. Here, you should see your current Bitcoin balance.
Tap the Scan button
Tap the grey scan button, represented by the circular icon with a white QR code.
Scan the Public Key and Enter Amount
Scan the QR code of the Polymerbit public key and input the amount of Bitcoin you wish to load onto the wallet.
What is a public key?
A public key, as the name infers, is a key can be shared openly. This key acts like an IBAN or SWIFT code to your wallet. You can also see the balance on the note.
Where are these keys on a Polymerbit?
Typically both keys will be found on either the obverse or the reverse of the bill. The keys are in QR format, with the private key hidden under a scratch off and embedded in the design.
How much should I store on a Polymerbit?
While the amount can be up to the end user, it is recommended to load the amount listed on the denomination. In the event of a non denominated wallet, we recommended amounts between 0.0001 and 0.02 due the miners fee and the risk associated with physical storage,
What is a private Key?
The private key, on the other hand, is extremely sensitive as it acts as a key to unlock all the funds in the wallet. Take extra precautions with this key as there is no way to recover funds if it is exposed or lost.
Why is a Polymerbit called a paper wallet / cold storage document?
'Cold storage' is a term for keeping funds offline. Technically, the funds have never left the blockchain but since the only copy of the keys are stored on the document, the physical QRS become the only way to acess the funds.
What is a miners fee?
The miners fee is a payment made for each transaction in the blockchain. In a Polymerbit, two fees will be observed. One to load and one to redeem (sweep). Handing the note physically carries no fee since the funds have not moved according to the blockchain.