BitSwap V1 User Guide

How to Use BitSwap to Buy and Sell BitClout

By @sigil and @HughJiang • Updated May 1, 2021





BitSwap is a BitClout exchange platform that allows you to buy and sell BitClout on a secondary exchange market.



The following is a user guide for BitSwap V1, the current iteration of our exchange service. 



If you ever run into any problems while following this guide or if something doesn’t work as expected, please contact us for support on our Discord Channel, or by emailing support@bitswap.network.



Table of Contents

1. Video Overview

2. General Use Instructions

3. Registering Your Account

4. How to Sell BitClout 

5. How to Buy BitClout



1. Video Overview

Here's a quick video from Sigil explaining how to use BitSwap V1 to buy and sell BitClout.



If you'd like a more detailed written guide, you can read on below.







2. General Use Instructions

Accessing BitSwap

Our web application is located at app.bitswap.network

 

For now, only selected users can create accounts on BitSwap. If you have yet to be accepted, join the waitlist and we will let you know when your account has been whitelisted.

 

You can also get early access if you own more than 1 @BitSwap coin on BitClout. If you own more than 1 coin, contact us and we’ll add your username to the whitelist.

 

In the near future, BitSwap V1 will be opened publicly to all users. 



Once you have been whitelisted (or if you just want to check us out 😉) you can follow the instructions below.

 

Using the Navigation Menu 

On a desktop computer, the navigation menu is located on the left-hand side of the screen.





On a mobile device, you can access the navigation menu by clicking the menu icon (the three horizontal lines) on the top-right corner of the screen.



Here are the navigation menu options, and what they do:



Home: return to the BitSwap Application home page



Listings: Create listings to sell BitClout, view your active sell orders, and view your transaction history



Wallet: Deposit or Withdraw $BitClout between your BitSwap balance and BitClout wallet.



Changing Profile and Account Settings 

To access your BitSwap profile and change account settings, you can click your username located on the bottom-left corner of the screen (desktop).



On a mobile device, you can access your profile and account settings by clicking the menu icon at the top-right corner of your screen.



You can also directly access your profile at app.bitswap.network/profile





In your profile and account settings you can change your email, change your password, or change your Ethereum wallet address. You can also add additional wallet addresses.



Getting an Ethereum Wallet 

If you don’t already have an Ethereum wallet, you’ll need to get one to register for BitSwap and use your account. An Ethereum wallet is used to store and transfer Ethereum and you will be sending and receiving Ethereum on BitSwap using this wallet.



Personally, I use the Metamask wallet through its Chrome extension. You can also use the Metamask app on iOS or Android, but I recommend using a desktop device and sticking to the Google Chrome extension (because it’s easier to use BitSwap that way).



To set one up, you’ll want to install the Metamask Chrome extension and register for an account through the Chrome extension.



Once you have an Ethereum wallet set up, you’re ready to begin registering your account and using BitSwap!



2. Registering Your Account

1) Enter your Account Information

Visit app.bitswap.network/register to reach the registration page.



Note: For now, only whitelisted accounts can register. We will soon be opening BitSwap for all members of the general public. 



Once on the registration page, enter your BitClout username without the “@” symbol



The username field is case-sensitive, so make sure it matches your BitClout username exactly. 





Click the "Next" button. Then, you’ll need to enter your email, Ethereum wallet address (public key) and a password. 



These account details can all be changed later, but I recommend you double-check your Ethereum wallet address. You will be sent Ethereum to your provided wallet address after you sell BitClout, and you’ll also need to send Ethereum to us (from your provided wallet) when you buy BitClout. 



After entering your account details, click “Finish” to continue to the next step.



2) Confirm your Email

You will be sent an email with a verification link to verify your email address. Open the email (sent from support@bitswap.network) and click the link to verify your email.



If you do not see the email, check your spam or junk inbox. If you still don’t see an email after a few minutes, contact the BitSwap team on our Discord channel or by email.



Your email will be used to send notifications of your ongoing transactions, and for occasional marketing and feature updates.



After confirming your email, you will be able to login to app.bitswap.network/login.



3) Confirm your BitClout Account

Before you can buy or sell BitClout, you need to confirm your BitClout account by creating a post on your BitClout page that tags @BitSwap and contains your BitClout verification code.



You can find the verification message by going to app.bitswap.network/profile and clicking the “Verify Profile” button.





After posting the verification message onto your BitClout account, go back to BitSwap and click the “Check Verification” button. Verification should be almost instant, within a few seconds.



Now you should be all set to use BitSwap to buy, sell, and exchange BitClout!



4) Potential Problems when Logging In

If you’re having trouble logging in, here are a few possible problems and solutions:



1) To log in, use your BitClout username without the “@” symbol. The username you enter must match perfectly with your BitClout username (it’s case sensitive).



2) Do NOT use email to log in. It won’t work.



3) Make sure your password is correct! Check your caps lock ;)



If you’re still having trouble logging in, please contact us by email or in our Discord group. You can find the link to the group in our website navigation bar at the top of the page.



3. How to Sell BitClout on BitSwap’s Exchange Platform

Selling and withdrawing BitClout using BitSwap’s exchange platform is super simple. 



Follow these steps to get started selling your BitClout for Ethereum!



1) Deposit $BitClout into your BitSwap Account Balance

Before you can create a sell listing, you’ll need to deposit BitClout into your BitSwap account balance. Then, you can take BitClout from your account balance and sell it on BitSwap.



You can withdraw your BitClout balance from BitSwap at any time.



Here’s how to deposit BitClout into your BitSwap Account:



1) Visit your BitSwap Wallet and click the deposit tab



2) Enter the amount of BitClout you’d like to deposit. Note: I recommend depositing at least 0.5 BitClout because that is the minimum amount you can sell on the platform. 





3) Click the “Start deposit” button and then click the confirm button again in the popup message. 



4) Send the exact amount of BitClout to the BitClout wallet ID that was provided to you. You must send this form the same BitClout account that you used to sign in to BitSwap. 



5) Wait for transaction to process in BitSwap (you should get a transaction pending message on the right side of your screen)



6) Check your BitSwap balance to make sure the BitClout was deposited properly!



If you made a mistake during one of the above steps, don’t worry! Just start again and everything should still work. 



If you send BitClout to your BitSwap balance but don’t see it appear within a few minutes, please contact BitSwap support to get everything sorted out. 



2) Create a Sell Order 

Now that you have some $BitClout in your BitSwap balance, you can create sell listings to sell your BitClout. 



Note that the minimum sell order is 0.5 BitClout. 



How to Create a Sell Order:



1) Visit the Listings page on BitSwap



2) On the right side of your screen you’ll see an area to create a sell order (“Post Swap”). Here you can enter the number of BitClout you would like to sell, and the price of each in US Dollars. 



For example, if I wanted to sell 2 BitClout for US$100 each, here is what I would enter this:





Note that in this case, I don’t have enough BitClout in my balance to post the listing. You can deposit more BitClout into your balance by going to the BitSwap Wallet page.



3) Select the Ethereum wallet address to which you want your Ethereum to be sent. Click the dropdown button and select the preferred address.



4) Post your listing, and wait for a buyer! 



3) Wait for Your Order to be Filled!

Depending on the price that you set, you might find a buyer instantly, or you might have to wait a few days. 



Either way, once somebody buys your BitClout, you’ll be sent an email notification and Ethereum will automatically be deposited into your Ethereum wallet.



Note: we are working on creating a transaction history with live market pricing data, so it is easier for you to determine what price to set when selling BitClout. I will update this guide once this feature is live, so you have a better idea of what price to set for your BitClout.



4) Cancelling an Order or Withdrawing your Balance

Cancelling a Sell Listing

To cancel a sell listing, simply visit the Listings page, and click on the “My Swaps” tab. 



You’ll see a display of your active listings and then you can cancel or edit them as necessary.



Withdrawing your BitSwap Balance

WARNING: If you withdraw BitClout from your balance, your existing sell listings may be cancelled if the remaining BitSwap balance does not cover the amount listed in your sell orders.



To withdraw your BitSwap Balance, go to your BitSwap Wallet and click the “Withdraw” tab (located near the bottom of your screen).





Then, select the amount of BitClout you would like to withdraw from your balance, and click “Confirm Withdraw”.



Any BitClout that is withdrawn from BitSwap will be sent back to the BitClout wallet address associated with your BitSwap account. 



5. Viewing Ongoing Listings and Transaction History 

To view your transaction history and ongoing listings, go to the Listings page and click on the “My Swaps” tab to see your existing sell listings and listing history.



4. How to Buy BitClout on BitSwap’s Exchange Platform

1) Browse Sell Listings 

You can browse listings from the BitSwap Application home page.





You can also use the filter settings to filter and sort by price or volume, so it’s easier for you to find the listing you want. 



Note: For now, there is no way to create buy orders, but we’re working on implementing this feature soon. For now, to buy BitClout you must choose an existing listing from other BitSwap users who are selling their BitClout.



2) Send Ethereum to Complete the Transaction

Once you’ve found a listing that you like, click the “Buy” button and confirm that you would like to start the trade.



You will need to follow the instructions on the screen to complete the transaction. If no instructions show up, visit the Listings page, click on “My Buys”, and click on the swap that you initiated to bring up its status and instructions.



1) Send the specified amount of Ethereum to the wallet address that we provide you. 



Make sure you send from the same Ethereum wallet that you provided to us in your account settings. To change your Ethereum wallet address, go to your profile settings.



2) Wait for your Ethereum transaction to process. Depending on network congestion, the transaction may take a few seconds to a few minutes. 



3) Once your Ethereum is received and verified by BitSwap, we will automatically deposit BitClout into your BitSwap account balance. To withdraw, you can follow the instructions below.



3) Viewing Ongoing Listings and Transaction History 

To view ongoing buy orders and transaction history, simply visit the Listings page, and click on the “My Buys” tab. 





You’ll see a display of your ongoing or previous buy transactions and you can view them accordingly. You can also check the status of ongoing transactions by clicking “view”.



4) Withdrawing BitClout from your Balance

To withdraw your BitSwap Balance, go to your BitSwap Wallet and click the “Withdraw” tab (located near the bottom of your screen).





Then, select the amount of BitClout you would like to withdraw from your balance, and click “Confirm Withdraw”.



Any BitClout that is withdrawn from BitSwap will be sent back to the BitClout wallet address associated with your BitSwap account. 



Contact our Support

You can contact support on our Discord channel or by emailing support@bitswap.network. 



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