Do not acquire L-BTC without having a way to convert back to BTC. L-BTC peg-outs must be performed via a Liquid member.

See the Liquid Integrations section section for instructions on acquiring L-BTC via cryptocurrency exchanges.

Peg-ins require a moderate level of technical proficiency. Confirm that validatepegin=1 is added to the Liquid configuration file and that a synced Bitcoin node is running before continuing.

Here’s a diagram that summarizes the peg-in process.

Important Do not peg-in L-BTC without having a confirmed method of converting it back to BTC. L-BTC peg-outs must be performed by a Liquid member.

Step 1: Confirm that Elements Core is installed, configured, and running. See the Liquid node installation guide for more information.

Step 2: Open the console window in the Liquid Core client.

Step 3: Get a peg-in address by using the following command in the console: getpeginaddress

Step 4: Save the mainchain_address and claim_script values.

Step 5: Send the bitcoins to be converted to the mainchain_address and save the transaction ID.

Step 6: Wait for 102 confirmations on the Bitcoin blockchain. Track the transaction on Blockstream Explorer.

Step 7: After the transaction is confirmed, open the console in the Bitcoin Core client.

Step 8: Enter the following two commands in the console using the transaction ID from Step 5. Save the results to claim the peg-in on Liquid.

getrawtransaction <yourTXID> gettxoutproof '["'<yourTXID>'"]'

Step 9: Enter the following command in the Liquid Core console. Replace <raw> with the result from getrawtransaction <yourTXID> in Step 8. Replace <proof> with the result from gettxoutproof '["'<yourTXID>'"]' in Step 8.

claimpegin <raw> <proof> <claim_script>

Step 10: After the transaction confirms, the Liquid Core client’s L-BTC balance should update.