How to set up PayNym (BIP47) on your Lincoin Pool account

In order to get started with PayNym on Lincoin Pool, we should first establish a channel, this channel establishment has its own costs.

To get started with this process make sure you have enough balance on your account. At the moment the cost to establish a channel on Lincoin Pool is 0.0002 BTC or 20,000 sats. If you don’t have the balance already, you should wait for your miners to hash more while you reach this threshold.

 

Once you have the balance secured, you can then proceed with your payment code registration. Go to Finances / PayNym page, add your payment code, add a description (optional) and submit!

That’s it, you are done with setting up your PayNym!

It may take us up to 1 hour to establish the channel. You will receive a confirmation from you wallet app once it is done. In order to use your PayNym for instant withdrawal or Auto-Withdrawal you may simply select them from the drop-down menu. Easy-peasy!

Good news is that you can use each PayNym across multiple subaccounts.

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