Freewallet.io User Manual
Freewallet.io User Manual
  • Getting Started
    • What is Freewallet?
    • What are the features of Freewallet?
    • Where can I access Freewallet?
    • Where can I access previous versions of Freewallet?
    • What is Tokenscan.io?
    • Why do I need small amounts of Bitcoin to do things in Freewallet?
    • What BTC fee should I use?
    • What is the Automatic Donation System? How do I turn it off?
    • What is an Asset/Token/NFT? How can I store them?
    • I want to trade a certain Asset, is it legitimate?
    • How to find the License Agreement
    • What else do I need to know?
  • Exploring Balances, History, Exchange and Dispensers
    • Address Balances
    • Address History
    • Viewing Tokens
    • Exploring Token Information and Enhanced Asset Information
    • Understanding Dispenser Markets
    • Buying XCP and User Created Tokens from a Dispenser
    • The Decentralized Counterparty Exchange (DEx)
    • Understanding Exchange Pairs
    • Buying and Selling XCP and Tokens on the DEx
    • Understanding BTCpay and BTC/TOKEN on the DEx
  • Freewallet Functions
    • Creating a Wallet
    • Locking and Unlocking Your Freewallet
    • Viewing, Creating and Importing Addresses
    • Show a QR Code for your Address
    • Sending and Receiving BTC
    • Sending / Receiving XCP and User Created Tokens
    • Displaying the Seed Phrase and Private Key of your Address(s)
    • Using the Multi Send function
    • Create a Counterparty Token (NFTs and FTs)
    • How to Change Token Properties
    • Changing the Token Description
    • Issuing more Token Units
    • Resetting Your Token Issuance
    • Locking Your Token Issuance
    • Transfer Token Ownership
    • Destroying Tokens
    • Paying Dividends to Token Holders
    • Voting with Tokens
    • Broadcast information on the Bitcoin blockchain
    • Signing a Message Using Freewallet
    • Signing a Transaction Using Freewallet
    • Using the Sweep Function
    • Setting up a Dispenser
    • Closing a Dispenser
    • Cancelling Exchange Orders
    • Starting an Exchange Pair that has no orders up yet on the DEx
    • Minting Open Fairmints
  • Common Questions Using Freewallet (FAQ)
    • What if you make a mistake?
    • Where can I see my current version?
    • How do I check my Freewallet Server settings?
    • How do I use the Debug function on Freewallet?
    • Can I use the Counterparty/Bitcoin Testnet in Freewallet?
    • Can I burn BTC for XCP?
    • What’s a Stamp?
    • What’s an Ordinal?
    • If Tokenscan is down for maintenance, can I still access my funds?
    • Why is there more than one input on my BTC transactions?
    • Does Freewallet support two-factor authentication?
    • Can you lock a Token description?
    • Can I run my own Counterparty server?
    • How do I use Freewallet to mint an Emblem Curated Vault?
    • How do you create a Burn Address for use on Counterparty?
  • Troubleshooting / Issues
    • I sent BTC (or a Token) to Freewallet, why doesn't it show up?
    • Why can't I see my assets I own or created with 0 issuance?
    • "Error While Trying to Broadcast Transaction"
    • "Failure to send not enough BTC in wallet"
    • My Freewallet Exchange/Dispenser tab is resetting the data when I try to sort by BTC Price?
    • "Public key was neither provided nor published in blockchain."
    • I logged in and see none of my assets but I see them on tokenscan!
    • Help! I used too small of a fee and my transaction is not confirming!
    • I sent/dispensed an XCP asset to a Wrapped Segwit Address (address beginning with "3")
    • I sent/dispensed an XCP asset to a Taproot Address (an address that starts with "bc1p")
    • I updated Freewallet and can only see my first 20 addresses! How can I get them back?
    • My second transaction on an MPMA (Multi-send) is not getting confirmed and giving me an error
    • Freewallet gave me a TX link but Tokenscan says "Transaction not found on tokenscan"
    • Error composing dividend transaction via API: ['zero dividend']
    • My MacOS/Windows is saying Freewallet is not verified by the app store. What should I do?
    • Counterparty API Communication Error!
    • What is a Counterparty API Error?
    • Stuck on "Checking Data Encoding Fees"
    • Constructed transaction does not parse correctly
    • My transaction is too low of an "Effective Fee Rate"
    • Error Composing Dispenser TX - Balance History
    • I entered my created password and stuck on "You will need to unlock..."
  • Getting Support
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  1. Exploring Balances, History, Exchange and Dispensers

The Decentralized Counterparty Exchange (DEx)

PreviousBuying XCP and User Created Tokens from a DispenserNextUnderstanding Exchange Pairs

Last updated 6 months ago

This tutorial takes you through the process of buying and consequently selling a Counterparty-issued asset (or token/coin) from Freewallet. By "Counterparty-issued" we mean "issued on the Counterparty platform by its users" as the Counterparty Project does not issue assets (XCP is the only asset that was issued by the Project).

First, let's summarize how things work:

All Counterparty assets can be traded on the Counterparty Decentralized Exchange and most Freewallet sellers denominate their asset in XCP. It is possible also to sell your asset A for another asset B using the Counterparty Decentralized Exchange. Some main advantages of decentralized crypto-exchanges are obviously decentralization (no counterparty risk) and a lower cost of filled orders.

Some popular Counterparty-listed assets (such as PEPECASH and XCP) are available on traditional crypto-exchanges such as and where they are usually available denominated in BTC. Those are entirely different than the Counterparty DEx and are centralized exchanges. This article covers only the DEx as seen in Freewallet, but just so that you know the same asset can be traded on the DEx (usually denominated in XCP) and externally (usually denominated in BTC). Some advantages of centralized crypto-exchanges may include the speed of trading and may or may not have a better liquidity.

It is possible to trade on the Counterparty decentralized exchange directly inside Freewallet. You can trade any token against any other token, including XCP.

Please also check out this by RobotLoveCoffee for a generalized understanding of how the Counterparty DEx works and how to navigate it.

Keep in mind most users who see these exchange types assume it is the same as other BTC markets on other exchanges or decentralized markets. They are not the same and function very differently as this BTCpay function is a very historic and old functionality that requires some deep technical knowledge of how this works. These pairs are denoted with the BTC/TOKEN or TOKEN/BTC pairs and DO NOT function the same as all other pairs (XCP/TOKEN, and TOKEN1/TOKEN2 pairs) and are NOT the same functionality like Dispensers are.

The next tab is the XCP tab which shows all Counterparty DEx orders with the XCP/TOKEN or TOKEN/XCP pairs. These (and rest of the markets) are not BTCpay markets because they do not trade with BTC as one of the tokens in the market pair and these Counterparty Token Pairs function much differently and are more commonly used than BTC pairs by the community.

You can also explore popular pairs like BITCRYSTALS, PEPECASH, WILLCOIN and other pairs in the market which are considered TOKEN/TOKEN1 or TOKEN1/TOKEN pairs.

You can also use the Search bar in the upper right to find open markets of any Counterparty asset (including XCP)

If you would like to make your own custom Market tab and track sales from any Counterparty asset, simply click the “Gear Wheel” icon next to the search bar and select “Add Market”

You can also customize your viewing options to include or exclude Named, Subasset and Numeric tokens

Here you can add the Token name of the Market you wish to track and it will appear as a new Markets tab

Remember you can always manually search a Market with the search function in the upper left. This is the same search function on Tokenscan and the data shown is the same. This is the easiest way to explore a market pair of any type.

The Exchange tab first shows “BTC” pairs which to be filled will have to use the BTCpay function as described in detail in the section titled:

To learn how to use, trade and create orders on the DEx please reference the section of this User Manual.

You can also start new exchange pairs if no orders have been put up for it by referencing in the Freewallet Functions section of this User Manual.

Understanding BTCpay and the BTC/TOKEN on the DEx
Buying and Selling XCP and Tokens on the DEx
Starting an Exchange Pair with No Order History
Zaif
DexTrade
informative overview video
BTC/TOKEN markets page on Freewallet (which use different functionality than the XCP pairs and other Token markets)
The XCP market pairs as shown on Freewallet Exchange tab
Filtering Settings Tab for Exchange Markets as well as Refresh and Add Market buttons
The Add Market Feature to track any Token the user chooses to add
If you would like to find a market for a card or a pair that has no order history yet, simply manually type the pair into the search bar.