Nov 25, 2021
How To Buy oBTC
LEGAL DISCLAIMER
The information presented in this blog is not financial or legal advice. It is for informational purposes only. Trade, transfer and hold cryptocurrencies at your own risk and after conducting your own due diligence. The author is not liable for any losses incurred. User is responsible for their own actions regarding cryptocurrency trades, transfers and storage, all of which can carry significant risk of loss. It is advised to check local, national and international laws before trading cryptocurrencies.
This is a community written guide. PoWx and the author are not affiliated with Exbitron or Change Now.
ADA Notice: This guide is available in APHont font for visually restricted and OpenDyslexic font for easier reading.
This Guide Should Be Open On A Laptop or PC ONLY.
You’ll need a pen and paper while using this guide for seed phrases and passwords. It’s also recommended to have a blank USB stick.
SECTIONS:
Introduction -
How to setup an oBTC wallet: Android / Chromebook / Windows -
How to setup an Exbitron account -
How to swap from ETH and other cryptocurrencies to USDT trc -
How to deposit and withdraw on Exbitron -
How to buy oBTC on Exbitron -
INTRODUCTION:
Since 2017 the team from PoWx has been working on a solution to reduce the energy usage of cryptocurrency.
Optical Bitcoin (oBTC) is the only cryptocurrency using the HeavyHash algorithm that was created and launched by The American non-profit 501c3 PoWx.
Currently oBTC can only be purchased on the exchange Exbitron.
This guide will review how to:
Install an optical bitcoin wallet for Android and Windows. Withdraw Ethereum from Coinbase or MetaMask to transact on Exbitron.
Plus, how to transact on Exbitron (deposit, buy, sell and withdraw).
At any point in time, please feel free to reach out to the community for support.
How to setup an oBTC wallet: Android / Chromebook:
Currently the easiest way to install a wallet for Optical Bitcoin is with an Android device or Chromebook . This is done with the Google Play Store.
Chromebook users will need to enable Android apps on their Chromebook first before installing an oBTC Android Wallet. A guide for this can be found here. Install the wallet by clicking install.
After downloading, open the oBTC wallet by clicking on the wallet icon.
Then click the three dots in the upper right corner of the wallet.
This will open and display the settings. Click security.
For security purposes it’s suggested to encrypt your wallet with a password. To do this click Encrypted and Password Protected.
It’s highly recommended to use a strong password that you will not forget. Writing the password down and keeping it in a safe place is a good idea.
You’ll need to type the password again to confirm it.
Now you’re ready to make a wallet for your oBTC. Click Add now.
Name your wallet anything you desire. For our example we will use the name My Test Wallet. After naming the wallet click on the Optical Bitcoin icon. Then click Create.
You will now see your phrase for your wallet. Please note the number in which they appear. Write them down in the correct order.
Example:
1 oak
2 february
3 menu
Once completed click OK, I wrote this down.
Congratulations!
You have now made your first oBTC wallet!
Please keep this sheet of paper with your phrase and password in a safe place.
Never share your phrase or password with anyone.
How to setup an oBTC core wallet in Windows:
Currently the official wallet for oBTC is oBTC Core (aka QT). This wallet must sync the blockchain before it’s used. This core wallet this requires longer start up times.
To download oBTC core wallet click here. Click save file. Please note the folder where you saved the wallet.
If you would rather download live from the GitHub website please visit the PoWx GitHub page.
If you receive an anti-virus alert. This is normal.
Open the oBTC QT wallet. The software will start.
Once the software loads, click settings, then click Encrypt Wallet.
You’ll now need to enter a strong password. Enter the password again a second time. Click OK.
DO NOT FORGET YOUR PASSWORD.
Next click file, then click backup wallet.
It’s suggested to use a new USB stick that will only be used for your oBTC backup file.
Name your wallet file and click save to the location you select.
It is a good idea to keep this USB file and your password written on a sheet of paper in a safe area where no person has access to it.
BACKUP YOUR WALLET OFTEN. AFTER YOU MAKE NEW RECEIVING ADDRESSES BE SURE TO BACKUP THE WALLET DAT FILE! IF YOU FAIL TO DO THIS, YOU RISK LOSING YOUR OBTC!
How to setup an account on Exbitron:
You will need The Google Authenticator app or equivalent. If you don’t have this already, Android users click here or iOS users click here to download it from your mobile device or tablet.
To create an account on Exbitron visit: https://www.exbitron.com/signup
First enter your email address, then password, confirm the password, agree to the terms of service and click Register. If you have a reCAPTCHA please complete it.
You should now be logged-in and ready to connect your Authenticator app to Exbitron. In the upper right hand corner click on Profile.
Click Two-factor authentication.
You will now be prompted to scan a QR code. It’s time to start the Authenticator app. Aim the camera at this QR Code (Arrow 1 in the image below). After you scan this QR code and add it to the app, you will see a 6 digit number. Enter this 6 number to the 2FA code area on Exbitron (Arrow 2 in the image below). NOTE: This number changes every 30 seconds.
You should now see the Two-factor authentication button enabled.
Click on Menu in the upper right corner, then click balances.
You’ll be taken to the balances page. You should arrive on the USDT page automatically. Click Generate USDT address.
You should now see your USDT deposit address. Click Copy.
IMPORTANT NOTICE: Exbitron is a small independent exchange. This exchange only trades USDT on the Tron platform. This means your Ethereum USDT will not work on Exbitron! You’ll need to convert your crypto to USDT trc (The Tron Blockchain). This next section we will review how this is done.
How to swap from ETH and other cryptocurrencies to USDT trc:
As mentioned above you’ll need to convert your cryptocurrency to USDT trc. This process is easy with the help from a website called Change Now.
Start by opening a new tab on your internet browser and then CLICK HERE TO VISIT THE CORRECT PAGE ON.
Here you’ll select the cryptocurrency you’re trading from to the cryptocurrency you’re trading to. For this example we will use ETH (Ethereum) as our trading from cryptocurrency. We want to trade to USDT trc so we can trade in Exbitron.
To start click on the the arrow near the top cryptocurrency. This is your trade from cryptocurrency.
Next Select Your Trading to cryptocurrency. Search for “USDT”. Searching USDT brings up a few choices. Select the red USDT. It’s the only red USDT option and has TRX written in red to the right of the USDT letters. Next to the word Tether should be the text (TRON).
After you enter the amount of the asset you’re trading from, you will see the amount of USDT you’ll receive. When ready hit exchange.
You are now taken to a new page that has a white background. Here you’ll review then authorize the transaction. If all looks correct, you’re ready to paste the USDT wallet address you generated on Exbitron.
NEED TO COPY THE ADDRESS AGAIN?
You should have your USDT wallet address copied and ready to paste, but if not, go back to the balances page on Exbitron and copy the USDT deposit wallet address. Here’s a reminder of how to do this in the image below.
If all looks correct, you’re ready to paste the USDT wallet address you generated on Exbitron. After pasting it click next.
Now You’re ready to send your cryptocurrency.
If your trading from an app (a wallet app, the coinbase app, or other exchange app) any on a tablet or phone you can scan the QR code.
If you’re trading from an exchange such as you can copy the deposit address to send to (from CoinBase, Binance, etc.)
If you wish you can connect MetaMask and send from there.
After you sent your payment you’ll notice the status bar at the bottom change from Awaiting Deposit to Confirming, then Exchanging and finally Sending to you. DO NOT CLOSE THIS TAB OR WINDOW UNTIL YOU HAVE YOUR USDT AVAILABLE IN EXBITRON. This takes about 5 to 60 minutes depending on the cryptocurrency you traded from.
Click back to Exbitron and you should see the amount in your balances.
To be taken to the exchange markets click the Exbitron logo in the upper left corner.
To find Optical Bitcoin search on the right hand side search box “oBTC”.
The main trading pair is OBTC/USDT it is the most liquid trading pair. To trade your USDT for oBTC click the red trade button on the right side.
You’ll be taken to the trading page for OBTC/USDT. In the image below is how the trading page is laid out.
You can select a market order to buy immediately at the market price or a limit order to set your buy prices where you choose.
For limit orders set the price you wish to pay and the amount of oBTC you wish to purchase. The total will appear below. Click Buy when ready to purchase.
To place a market order quantity of oBTC you wish to purchase. The total will appear below. Click Buy when ready to purchase.
To confirm your oBTC market order has been placed and you purchased oBTC click on menu, then click balances.
Search for oBTC in the search box on the top left. You should see your oBTC optical Bitcoin balance on the right.
Many cryptocurrency professionals advise to never advised to leave funds in an exchange for an extended period of time. To withdraw your oBTC to your wallet click on withdraw at the top of page.
On the grey line Add Address, click the +
A new window appears. On the first line paste your oBTC wallet address. On the second line create a name for your oBTC wallet address that you’re withdrawing to (or use your name if required by law). Click submit if all looks correct.
A new window will appear. Please check your email in another tab. A pin code has been emailed to you. Copy the pin from your email and paste here.
Your Wallet withdraw address is now confirmed. You should now see a yellow row. Click on it. Then click the wallet name to withdraw your oBTC to.
If this is your first time withdrawing please note: Cryptocurrency experts often suggest withdrawing 1 coin to test the wallet has been entered correctly. Once the test withdraw for 1 coin is completed and shows up in your wallet, then complete a new withdraw for the full amount you wish to withdraw.
Enter the amount of oBTC you wish to withdraw. From your phone or tablet open the Authenticator app and enter the 6 digit code. If all looks correct, click Withdraw.
Confirm all is correct. If so, click Withdraw.
You should see a notice in green that says the Withdraw request was received. Below it should say Success!
You oBTC is now locked and being processed for withdraw. Withdraw times vary from instant to 1 hour. You should soon see the oBTC in your Windows or Android wallet within an hour.
WELCOME TO THE oBTC OPTICAL BITCOIN FAMILY!
At any point in time, please feel free to reach out to the community for support.
Did you know oBTC is one of the easiest cryptocurrencies to mine? Thanks to our community members oBTC has a simple miner program that works on almost all Windows computers. Try it for yourself!
