Trying to buy XCP with BTC - Answered

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1

I have tried over the last few days to buy XCP tokens but even when my transaction gets a match and it says BTC has been sent but I never get the XCP.

Been trying for almost two weeks now. Not sure why i cant complete a transaction. I have tried increasing my price as well as transaction fee.

I can see my BTC balance going down but i assume that is just because of the pending transactions.

Any idea’s?

Thanks

UPDATE: I can see my pending transactions on xchain.io but they just never seem to complete?

2

I have not completed this type of trade, and my understanding is the process is wonky. If you are using Freewallet, the BTCPay process is done automatically, but in counterwallet, there is an extra step that needs to be completed within 20 blocks.
What’s your address?

3

I’m using my counterwallet just now 1GLgyFdeQEgzvTR6kCwq4uF5WELWrS68AV

Thanks for your reply

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4

Question: What sort of platform is this, if i cant even buy XCP with BTC?

5

As has been explained in numerous other threads on this site, using BTC on the DEX is a bit more of a complex process than using ANY other asset on the exchange due to the fact that BTC can not be escrowed by the protocol.

1.) You have to place an order to buy or sell an asset for BTC
2.) Your order has to match with someone
3.) Once your order matches with someone, the person paying with BTC has 20 blocks to send a BTC payment or else the order match expires.

What is happening is that your order to buy XCP for BTC is matching with other users, however you are NOT sending the BTC payment within 20 blocks, so your order match is expiring… you can verify that at this url https://xchain.io/tx/1452523

If you were to use a wallet like freewallet.io desktop wallet, the BTCpay transaction would automatically take place when your order was matched with someone. We disabled the BTCpay functionality in counterwallet.io a few years ago because it is HIGHLY insecure to leave a browser/wallet window open in order to detect order matches and send the BTCpay transaction… anyone who walked by your computer would have full access to your funds, which is why this feature was disabled in counterwallet.

We also are getting ready to release a new feature called “Dispensers” which will allow you to buy any asset (including XCP) from a dispenser by just sending a BTCpayment to the address… so, within a couple weeks you will be able to just send a BTC payment and get a token (or many tokens) sent back to your address without having to do BTC trading on the DEX (which as you have noticed, requires an extra step of sending a BTCpay payment).

For all other assets (over 75,000+) besides BTC, the Decentralized EXchange (DEX) works exactly like traditional exchanges where orders are placed and executed immediately when orders match with one another.

TL;DR… try using freewallet.io desktop and buying the “FULLACCESS” token so that you will have full access to the DEX and be able to use BTC on the DEX just like every other asset.

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6

Thanks for your reply. Sorry for not spending the time to look through the forum more for this information. I moved away from the freewallet to indiesquare a while back. Will look into going back to it.

Peace.

Update: I am now using the freewallet desktop app to buy XCP with ease

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