Btcpop’s Exchange: The Staking Altcoin Exchange
Btcpop.co offers an extensive in house altcoin exchange/wallet. Where you can buy, sell, or store 100+ Altcoins in Btcpops secure system. It is also a pooled staking service for all proof of stake coins listed on Btcpop.
Want to to try staking for free? try out our staking coin faucet!
There are 4 key functions you can do with your Altcoins at Btcpop
- Deposit/Withdraw using your wallet
- Staking your Proof of Stake Altcoins
- Using as collateral for Bitcoin loans
The first thing you will need to do is setup and account with Btcpop. Following that this guide will help you navigate Btcpop’s different features.
Altcoin Wallets- Depositing/Withdrawing
Once you are logged into Btcpop and on your account Dashboard navigate to the “Account” Section on your left hand navigation bar. Then go to Account–> Add/Withdraw Coins.
Once in the Add/Withdraw coins page you will see a screen that looks like this
From here you can add/withdraw coins to various wallets in your account including the Bitcoin Instants Pool and Saving Account on the right. All of your altcoin accounts are located in the coin balances table on the left hand side. There are multiple pages for all of the different coin wallets and they are organized in alphabetical order besides Bitcoin which is on top.
To add or withdraw coins you will first need to create a wallet address. This can be done by clicking on the faded + and – symbols next to the coin on the table.
You will then be prompted to generate a new coin address.
Once you have done this your page will refresh, but when you go back to that coin the + and – will be darkened indicating you have a wallet address for that coin.
Once there you can deposit by clicking the + to receive your address
And withdraw (note if you have 2fa enabled this code will be required for withdraws). Btcpop also has an address book feature to store commonly used coin addresses.
* Security note: Btcpop takes security very seriously and all altcoins are kept secure at Btcpop using multi-level security measures and cold wallets. Altcoin withdrawals are processed automatically so they will be completed faster than Btc withdrawals which are done manually for additional security.
Trading your Altcoins on Btcpop’s Exchange
On your dashboard you can navigate down the the exchange on your left hand toolbar. You can choose summary to just get into the exchange, or scroll down to your desired trading pair. All trading pairs are done in Btc (though it is planned to add USDT trading pairs in the future)
Once in the exchange all of your active balances with show up in the left-hand column, and all of the trading pairs will show up in the right hand column. You can also access your wallet features direction from the exchange on the right hand “wallet functions” button.
To enter into a trading pair account you can click the “trade” button next to your account balance, or click on the coin picture in the right hand exchange overview. Once you click that you will go to that coins trading page
Here you will see a graph tracking price. If you scroll down you will see the open buy and sell orders as well as a box showing your open buy and sell orders.
Further down you can view the trade history of that trading pair as well as your own personal trade history
Due to low volume Altcoin prices are usually a little different than large volume exchanges like Poloniex. This will change as more users join Btcpop. It is also planned to have API access for the Btcpop exchange in the future which will greatly increase volume.
All staking activity can be seen in your “alt statement” which is located as the bottom option under your “Account” in the left hand toolbar.
Your alt statement will show all of your Altcoin deposits/withdrawals and staking rewards. You can also view the overall staking rewards the Btcpop has received by clicking the “See Overall Staking Stats” button on the bottom of staking statistics.
Note* your Bitcoin to Altcoin or Altcoin to Bitcoin trades will show up on your normal statement which is also located under your Account in the left hand toolbar.
Using your Altcoins as Collateral for Bitcoin loans
Btcpop offers the unique feature of letting borrowers use altcoin and share balances as collateral for Bitcoin loans or bonds. This helps investors make secure investments, and helps borrowers leverage their holdings and receive lower interest loans.
When you use your altcoins as collateral you will still be able to view them in your exchange and wallet. However, they will be locked so you cannot trade or withdraw them. You can still deposit more altcoins into your account though, but they will also be locked in as collateral.Learn more about taking out a Bitcoin loan at Btcpop.
You can use your collateral for 3 different types of loans
- Custom Loans
- Instant Collateral Loans
Custom Loans: Collateral was first enabled for Custom loans so collateral types cannot yet be individually selected (they will be soon). When you are creating your custom loan proposal there is a button to “Use Shares & alt coins as collateral”. When this is selected all of your altcoin and share holdings will be locked into Btcpop and held as collateral. Investors will be able to see all of your holdings, and will use that as a tool to determine if they are going to invest or not. To learn more about taking out your first Bitcoin loan click here.
Instant Collateral Loans: You can think of instant loans as lines of credit Btcpop gives borrowers. No individual investors invest in instant loans, and they are funded instantly by Btcpop’s pool funds (hence the name instant loans). Once you are in the Instant Collateral loan page you can select from your share and altcoin holdings to see the line of credit Btcpop will offer you as well as the interest rate. Currently only larger more stable coins are available to be used as collateral for instant loans.
Maximum borrowing amounts will change as you select or de-select collateral.
Bonds: When you are making a bond offering you will have the option to select from all of your collateral options including smaller cap volatile altcoins.
Hopefully this guide provides some helpful information for using altcoins at Btcpop.co Please feel free to add additional questions in the comments below.