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

Understanding BTCpay and BTC/TOKEN on the DEx

PreviousBuying and Selling XCP and Tokens on the DExNextFreewallet Functions

Last updated 11 months ago

Every pair in the “Exchanges” tab using the BTC/TOKEN or TOKEN/BTC is using the BTCpay exchange market, as Freewallet utilizes the Counterparty BTCpay function to complete these orders. Keep in mind this functionality is very old, and is NOT the common way the Counterparty Community trades assets using Counterparty and Freewallet. Most users use and using XCP or Token to Token trades.

These orders do not function like XCP/TOKEN or TOKEN/TOKEN2 type orders. For the BTC side of the order to fill a second bitcoin broadcast and transaction must be completed and very specific steps to follow.

This process can be done by Freewallet automatically or done manually.

It is also important to note that the user in the order that is transacting BTC is required to also keep Freewallet open for the order match to occur (as well as the second Bitcoin broadcast mentioned above).

Auto-BTCpay only works for using BTC if:

  1. Freewallet is OPEN and listening for order matches. If the wallet is closed and an order match happens in which you are the buyer using BTC, no BTC will be sent and the order match will expire.

  2. The order is matched within 20 blocks. After 20 blocks have passed, the BTCpay order will expire.

While this feature looks as simple as the Counterparty DEx for XCP and Tokens, it is not for beginner or even intermediate users. This process is used primarily when cooperation between both parties (Seller and Buyer) agree on price and process beforehand for this trustless BTCpay process to be worth using in a serious capacity.

The process of how you view the BTCpay exchange pairs is the same as with Counterparty DEx orders

First navigate to the “Exchanges” tab in the top of Freewallet. You can browse BTCpay order markets under the BTC tab and you can also use the search bar in the top right to search for individual tokens or specific BTC/TOKEN pairs.

It is highly recommended to put this setting on “Yes – Automatically sign & broadcast BTCpay transactions".

For use of this feature in Freewallet, also orient yourself with the popup Freewallet asks to “Enable Auto BTCpay”.

The Auto-BTCpay function will only work if you enable it when this popup occurs. This function will successfully fill orders in which you are the user in the order using BTC to complete.

Once you finalize your order and broadcast it to the Bitcoin network, you can view your transaction information the same as any other transaction by clicking “View Transaction.”

If you selected “Yes – AutoBTCpay” during the order creation Freewallet will fill this order automatically if you and the opposite party involved followed the steps above correctly (leaving the wallet open and matching within 20 blocks).

The process of Freewallet confirming this order and then automatically signing and broadcasting the next transaction may take some time. It is important to be patient here and to leave Freewallet open throughout this time period.

If your order isn’t matched within a certain timeframe (exactly 20 blocks) it be cancelled automatically and the tokens (or BTC) will be returned to your wallet.

Take note a protocol bug was found recently that does NOT match any orders below 0.001 BTC. This has been brought to the attention of the Counterparty Community and . Please take note of this issue right now before placing a BTC order for less than 0.001 BTC at this time.

The process of viewing the market, setting your price and placing your order is the same as described in the except for one key difference in the settings when placing your order:

In this example of a BTCpay buy order to Buy 1 RAREAIRDROP for 0.002 BTC, the “Expires” and “Fee” entries are identical to the inputs as seen in but the extra Auto-BTCPay option is now shown.

To cancel your order manually when it is still active please reference .

laid out in detail here
Buying and Selling Tokens on the DEx
Buying and Selling Tokens on the DEx
Cancelling Exchange Orders
has a bug associated with it
Dispensers
The Counterparty DEx
The BTCpay market as seen as the default page for the Exchange Tab
The BTC/TOKEN exchange pairs main page
An example buy order place for RAREAIRDROP/BTC
Order Creation Successful popup