# \[ANN\] XBTC Gateway released! **URL:** \ **Category:** 3rd Party\ **Created:** [June 15, 2014, 8:45am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338 "2014-06-15T08:45:05Z")\ **Posts on this page:** 11\ **Page:** 1
**Author:** ![Global\_trade\_repo](https://avatars.discourse-cdn.com/v4/letter/g/8baadc/32.png) [@Global\_trade\_repo](https://forums.counterparty.io/u/Global_trade_repo)\ **Post date:** [June 15, 2014, 8:45am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/1 "2014-06-15T08:45:05Z")
[size=14pt]XBTC is the easiest and smoothest way to trade on the DEX[/size] Had troubles with orders not matching or going through against BTC on the DEX? XBTC is the answer. XBTC is worth exactly 1 BTC. XBTC is a native Counterparty asset and can be held in full escrow by Counterparty. The fee to to get XBTC is only 0.1% + TX costs. [size=12pt]How to get XBTC[/size] An automatic vending machine for XBTC has been created. To get XBTC, simply send BTC in Counterwallet to: [size=18pt][color=blue]1XBTCxh9HdyQ4y5VMnTzPANZoZZvrMSA6[/color][/size] After 3 confirmations, XBTC will be sent back automatically. Open Counterwallet, select ‘Send’ from the address which you want to get XBTC ![](https://forums.counterparty.io/uploads/counterpartytalk/101/a2c9502af431ab40.png) 1) Enter the address from above 2) Enter in the amount of BTC you want to send 3) Click 'Send’ ![](https://forums.counterparty.io/uploads/counterpartytalk/103/9064c3531ba03f0e.png) That’s it! [size=12pt]How to get back your BTC[/size] Send XBTC from Counterwallet back to the same address as above. Full details about XBTC can be found in the following post. ---
**Author:** ![Global\_trade\_repo](https://avatars.discourse-cdn.com/v4/letter/g/8baadc/32.png) [@Global\_trade\_repo](https://forums.counterparty.io/u/Global_trade_repo)\ **Post date:** [June 15, 2014, 8:45am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/2 "2014-06-15T08:45:33Z")
[size=12pt]Order Book[/size] View the XBTC/XCP order book at Blockscan: [http://www.blockscan.com/order\_book.aspx?f=2](http://www.blockscan.com/order_book.aspx?f=2) ![](https://forums.counterparty.io/uploads/counterpartytalk/187/c21264a483a32e4c.png) [size=12pt]Why Trade with XBTC[/size] [list] [li]When you trade on the DEX using XBTC you can trade without worrying about: fees (fee required, fee provided)[/li] [li]Troll orders. Every price you see at blockscan is the price you can hit directly. Prices from the bid and ask side will converge.[/li] [li]Waiting for the other side of the trade to btcpay, nor will you need to be standing by to perform a BTC pay.[/li] [/list][size=12pt]XBTC is[/size] [list] [li]Cheaper to trade than using BTC unless trading in very low amounts (\<0.05 BTC). If you trade in larger blocks (\>=0.9 BTC) XBTC is cheaper than trading on a centralized exchange! I have created a cost analysis spreadsheet here [https://docs.google.com/a/vennd.io/spreadsheets/d/1ymF4Fks4xXLZExhMHM8\_8otm1lFD7OHCO0sgsfXKU2I/edit#gid=0](https://docs.google.com/a/vennd.io/spreadsheets/d/1ymF4Fks4xXLZExhMHM8_8otm1lFD7OHCO0sgsfXKU2I/edit#gid=0)[/li] [li]100% transparent and auditable[/li] [li]100% of BTC is held in reserve [https://blockchain.info/address/1XBTCxh9HdyQ4y5VMnTzPANZoZZvrMSA6](https://blockchain.info/address/1XBTCxh9HdyQ4y5VMnTzPANZoZZvrMSA6)[/li] [/list][size=12pt]Security[/size] [list] [li]There is no web or user interface. There is no web site to attack.[/li] [li]The only way to reach the XBTC servers is via the Bitcoin network, via TOR. There are NO other ports open, no SSH, no remote access.[/li] [/list][size=12pt]Source Code[/size] XBTC is based upon the source code for Vennd. The full source will be free and available soon. If you wish to gain access early, please send me a PM. [in progress] ---
**Author:** ![Giants](https://avatars.discourse-cdn.com/v4/letter/g/43a26b/32.png) [@Giants](https://forums.counterparty.io/u/Giants)\ **Post date:** [June 15, 2014, 9:49am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/3 "2014-06-15T09:49:53Z")
This is really cool. Do you foresee it being possible to vennd XBTC in exchange for receiving BTC to a multisig nLockTime address like [GreenAddress.it](https://github.com/greenaddress/gentle)? Then it could be trustless. ---
**Author:** ![Global\_trade\_repo](https://avatars.discourse-cdn.com/v4/letter/g/8baadc/32.png) [@Global\_trade\_repo](https://forums.counterparty.io/u/Global_trade_repo)\ **Post date:** [June 15, 2014, 10:02am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/4 "2014-06-15T10:02:01Z")
[quote author=Giants link=topic=404.msg2686#msg2686 date=1402840193] This is really cool. Do you foresee it being possible to vennd XBTC in exchange for receiving BTC to a multisig nLockTime address like [GreenAddress.it](https://github.com/greenaddress/gentle)? Then it could be trustless. [/quote] I am investigating the ability for a number of vending machines to run together in consensus to release funds held in a vending machine multisig address. It is still in concept phase and I can’t commit to when such a feature could be incorporated into Vennd but it is definitely something on the roadmap. ---
**Author:** ![cryptonaut](https://avatars.discourse-cdn.com/v4/letter/c/848f3c/32.png) [@cryptonaut](https://forums.counterparty.io/u/cryptonaut)\ **Post date:** [July 7, 2014, 1:35am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/5 "2014-07-07T01:35:21Z")
21 million units, but shouldnt the asset issuance be locked now? I noticed that it wasnt. ---
**Author:** ![Global\_trade\_repo](https://avatars.discourse-cdn.com/v4/letter/g/8baadc/32.png) [@Global\_trade\_repo](https://forums.counterparty.io/u/Global_trade_repo)\ **Post date:** [July 7, 2014, 8:49am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/6 "2014-07-07T08:49:47Z")
[quote author=cryptonaut link=topic=404.msg2802#msg2802 date=1404711321] 21 million units, but shouldnt the asset issuance be locked now? I noticed that it wasnt. [/quote] Thanks for pointing that out cryptonaut. This was an oversight and the asset has been locked. ---
**Author:** ![something](https://yyz2.discourse-cdn.com/flex004/user_avatar/forums.counterparty.io/something/32/240_2.png) [@something](https://forums.counterparty.io/u/something)\ **Post date:** [August 13, 2014, 7:47am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/7 "2014-08-13T07:47:33Z")
That's fantastic, thank you! ---
**Author:** ![Global\_trade\_repo](https://avatars.discourse-cdn.com/v4/letter/g/8baadc/32.png) [@Global\_trade\_repo](https://forums.counterparty.io/u/Global_trade_repo)\ **Post date:** [August 13, 2014, 10:37am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/8 "2014-08-13T10:37:55Z")
Thanks everyone for your support. We crossed a milestone in the last 24 hours. [size=12pt][color=green][size=10pt]During the last 24hrs the trading volume of XCP/XBTC on the decentralized exchange was greater than XCP/BTC![/size][/color][/size] Try out XBTC and see how it makes it easier to trade! As a reminder, you can easily exchange your BTC to XBTC. Alternatively, here are some of the projects which you can earn XBTC: EARNFREEBTC - Earn weekly dividends! [https://forums.counterparty.co/index.php/topic,373.msg2542.html](https://forums.counterparty.co/index.php/topic,373.msg2542.html) PETAMINE - Mine bitcoins with your counterwallet! [https://forums.counterparty.co/index.php/topic,488.msg3020.htm](https://forums.counterparty.co/index.php/topic,488.msg3020.htm) Cloud mine Bitcoin from your Counterparty wallet! GIGAHASH [https://forums.counterparty.co/index.php/topic,249.msg1901.html](https://forums.counterparty.co/index.php/topic,249.msg1901.html) ---
**Author:** ![niceplum](https://avatars.discourse-cdn.com/v4/letter/n/9d8465/32.png) [@niceplum](https://forums.counterparty.io/u/niceplum)\ **Post date:** [August 14, 2014, 5:44am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/9 "2014-08-14T05:44:42Z")
Thanks, this is great! ---
**Author:** ![Global\_trade\_repo](https://avatars.discourse-cdn.com/v4/letter/g/8baadc/32.png) [@Global\_trade\_repo](https://forums.counterparty.io/u/Global_trade_repo)\ **Post date:** [October 28, 2014, 11:58am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/10 "2014-10-28T11:58:40Z")
Hi All, Please be aware that we have turned off the side which allows XBTC to be purchased. Please see: [https://forums.counterparty.io/discussion/761/quick-buy-update-from-vennd-io](https://forums.counterparty.io/discussion/761/quick-buy-update-from-vennd-io) If there are any concerns or questions, please don’t hesistate to contact us. Regards, Jeremy. ---
**Author:** ![Global\_trade\_repo](https://avatars.discourse-cdn.com/v4/letter/g/8baadc/32.png) [@Global\_trade\_repo](https://forums.counterparty.io/u/Global_trade_repo)\ **Post date:** [October 30, 2014, 10:48am UTC](https://forums.counterparty.io/t/ann-xbtc-gateway-released/338/11 "2014-10-30T10:48:50Z")
To help people redeem their XBTC, we have removed the 0.1% fee (but the TX fee remains). We will leave that side of the gateway running for a couple of weeks. After which time, please contact us and we will be happy to help you redeem manually. Regards, Jeremy.