Test 6: Manage your balance

Arké uses two balances: Savings (Bitcoin network) and Payments (Ark protocol). You can move bitcoin between these balances as needed.

Practically speaking, Payments is almost instant with low transaction fees, at the cost of maintenance fees. Savings is slower and has higher transaction fees, but no maintenance fees.

To see how the two balances work together, send a portion of your payments balance to your savings balance.

Technically speaking, this transfers bitcoin from the second-layer Ark network to the bitcoin network. Doing this securely takes a bit of time and involves a fee.

Tap the balance card on the activity screen to see your balance breakdown. Tap the circular button with the arrow pointing down.

Now you're about to start a transfer. Enter an amount, like 5,000.

The transfer is going to take some time until it completes, that's normal.

6.1: Move some funds to savings

On the Send view, tap the balance card to see a breakdown of your bitcoin are distributed across the two balances. The two circular buttons in the center let you initiate transfers between them.

Tap the arrow pointing down.

6.2: Start the transfer

Enter an amount, like 5,000, and start the transfer.

6.3: Wait

Because this process involves two networks, it is going to take a little. You can see the progress status on the respective entry in your activity list. Feel free to close this modal.

6.4: Review the fee summary

You may have noticed different types of fees already:

The payments balance requires monthly maintenance (via a refresh)
Balance transfers require a fee
Payments have varying fees, based on how the bitcoin are being sent (on the technical side)

Find the fee summary in settings to see a breakdown of the fees you paid so far.

→ Test 7: Refresh your payments balance