Weekly E-mails:  Crypto Trading Strategy 5 Weeks of Onboarding Reads. Latest Airdrops (Thu 7 AM EST). Or all of it.

Dismiss   Pick Your Preference
This site uses cookies (More).

 

Review of Altcoin.io: Launching early in 2018, pre-registration available now. - #CryptoTrading

New exchange built on atomic swaps with Josh Olzsewicz on board. You can play with the atomic swaps on testnet now.
Feature  .  Published  · By KarlVonBahnhof

Altcoin.io is a very promising decentralized exchange project with no ICO or VC funding backing it. The list of people involved can be found right on their homepage and includes some familiar names and handles - Coinrun, Pizpie and Josh Olszewicz.

The new cryptocurrency exchange that is to be launched in early 2018 and will run entirely on atomic swaps. That is, it’s going to be that kind of place that should make Shapeshift obsolete: the swap is done via a trustless contract, the fees are going to be lower, the trust in the middleman not necessary.

The mission of altcoin.io goes even further though - they are aiming to build a decentralized trading exchange that will provide better experience than exchanges like EtherDelta:

DEXs have been around for some time. […] While they’ve generally offered better security, they’re far from perfect. Most DEXs store your private keys on Ethereum smart contracts (using the ERC20 standard), relying on off-chain order books to fulfill your trades. This restricts the number of tradeable tokens, and slows everything down.

What has been done so far

There is a preview of the UI but the exchange itself is not open yet. What is new is that you can already open an account to get access to the atomic swap wallet (on testnet for now). You’ll be able to use the same user account once the exchange opens.

The account setup is similar to bitcoin wallets - you are getting your 12-word seed. That means, your account is not tied to your real-life identity and you retain the full control of the funds you are trading with.

Once you’re in you will get access to wallets for a multitude of bitcoin-based and ethereum-based assets. You can already try out the atomic swap exchange process on the testnets, for instance with the help of a BTC testnet faucet and an ETH testnet faucet where you get coins via a tweet because of network spam protection.

Video walkthrough here has about 6 minutes, the gist is with two separate wallets in different browsers and once you have the testnet coins you can initiate a p2p atomic swap from one of the wallets. Because it’s p2p, it will generate a confirmation link for the party on the other side of the trade that you’ve just opened. Open it in the second wallet browser and okay it, it will complete the swap.

If you don’t really know what this all means there’s an article about atomic swaps on blog.altcoin.io. That blog also the place to follow if you want to get the latest updates on the exchange development.

Altcoin.io Walkthrough

If this is the first time you hear about the project and you’d like to see what the app looks like first or get convinced this isn’t a crazy scam, watch BTCKYLE talking to the founders of altcoin.io on Youtube.

The walkthrough for the altcoin.io wallet and atomic swaps available from Vimeo is shorter and less chatty.

 

Summary

So far the testnet functions of altcoin.io are impressive but really at the Shapeshift level: you can exchange one token for another, from the user point of view it’s the same experience as on Shapeshift or in a decentralized way on Bisq.

If atomic swap trading is going to be a thing, what is really needed is an advanced interface for traders because active trading is the game that will bring in the people and the liquidity. Luckily the team seems to be aware of that, the preview exchange UI looks much like prettier sister of BitMEX.

From the blog posts it’s not even clear how far from launch the development really is, though, and it is safe to assume there’s a lot to do. It is well worth staying tuned, though. Let’s hope OP delivers…

About the author

Written by KarlVonBahnhof

KarlVonBahnhof also on Reddit, Chris belongs to the crypto trader class of 2013. Located in the Americas most of the time, you're most likely to meet at r/BitcoinMarkets though.

 

Last added to Crypto Airdrops, Bounties & Opportunities
Name Date How to access Official URL Additional Info
New non-custodial anonymous peer-to-peer Bitcoin trading Opened 19 Nov 2019 If you miss the heyday of LocalBitcoins where anyone could buy BTC locally for cash (which has been banned since this summer) and anonymously (now site-wide KYC is required, plus allegedly LocalBitcoins have been working with three-letter agencies), since 19th November you have the chance to go back in time and buy your corn without ID again - at least for some time. You know that good things like this don't last ... The former ETH marketplace LocalEthereum rebranded to LocalCryptos and offers local and anonymous BTC trading with fully automated escrow that is built natively on BTC blockchain - because bitcoin's smart contract scripting capabilities are good enough for simple stuff like escrows. You can even import your vendor reputation from LocalBitcoins. The reputation import is done via adding a unique code to your LBC profile page, not by linking anything directly, but still in case you like your privacy it's probably only a good idea id you never ID'd on LocalBitcoins. details make acct
Cloudbet Turbo Thursday Reload Bonus Every Thursday between 05:00-23:59 UTC Make a deposit of 0.1 mBTC or more today, Cloudbet gives you a 100% Reload Bonus of up to 50 mBTC/1 BCH. Remember you must activate the bonus in your player dashboard before making a deposit for the bonus to be credited! The bonus is only available for the Casino, not the Sportsbook. details make acct
POOL-X exchange listing promo Daily until listing POL has a random twitter draw of users who post a POOL-X graphic design every day until their token listing on the KuCoin exchange. You need to sign up via Google form and have a KuCoin account. form make acct
Verasity New Triviata Competition November 5 at 00:00 UTC - November 20th 00:00 UTC Verasity is a token-based platform for the attention economy. They always engaged a lot with the community and organized several airdrop and competition campaigns so far. The current two-week campaign relates to the Triviata app (iOS/Android). Sign up and enable your game participation in the app profile, and you get the chance of winning prizes with 4000 USD in total. Even if you don't win though, participating will earn you tokens that can be staked in the official wallet for over 30% yearly earnings. join about
Bethereum Price Pool on VK November 2019 There are regular competitions with the total pool of prizes worth 40K Bether if you join the gaming platform's VK channel. details make acct
Brave New Coin Challenge Until the end of the year The crypto market data provider is giving away small amount of their tokens if you add people to their telegram group. register telegram
FanEspo Big Competition (ERC20) All the time Fanespo is launching a new promotion contest worth $500 in FAN tokens. Details will pop up on you when you sign up on site. Overall, the eSports platform FanEspo is giving away the total of $1.6 million of tokens in contests. You need to have a FanEspo account. details make acct
Atomars Opportunity Launch promo There is a new altcoin axchange launched that now offers zero-fee trading, and possibly thinner markets for the market makers around. details make acct
Keybase Stellar Lumens Drop 11 September 2019 & Onwards The Keybase team announced a surprise airdrop worth 21 USD in XLM to all account holders who ever installed the Keybase app. To get the Lumens, you need to sign in again and claim them - you should have received a bot message with instructions. Keybase has been funded by the Stellar Developer Foundation for years and so this collab is not a one-off. You can choose to keep participating in the Lumens airdrop by using Keybase, the total dollar worth each user can get is 500 USD. New accounts can still participate as long as they have a Github or HackerNews account created before 9 September 2019. more join
BlockWage Airdrops + Bounties Recurring Platform for freelancers marketplace. Airdrops randomly announced via Discord, there's also the possibility of Masternodes. join web
Vaultoro Token Launch Promo September 2019 The crypto-gold exchange Vaultoro has been around for years, getting attention in the 2015 bear market and tagging along through the subsequent bull run. They are now launching their own exchange token which you can get for free if you don't have an account yet. Every new sign up with basic ID verification gets 200 VAULT tokens. homepage make acct