Category Archive : Bitdorado Exchange

Offer to SWAP TELOS and XBTX and PARA Token (XBTX) into PARA TOKENS (Bep20) and how to do it

I have been very busy lately and hence several news items regarding the world of Transcendence/Telos have not been written. But now that an important offer is almost ending, although it might be extended with the same or different price, I am writing this guide for you people to be able to grab the offer.

I meant to write separate articles about this but didn’t get it done, so here is a brief version of Pascal’s new plans that he has been talking about.

The plan is to take a different approach from before. Before he threw whole loads of things out, and now he finally realized the same thing some of us have said to him long before, as in, how about concentrating on a bit fewer things? And that is basically what he is now doing.

Part of this new plan is that Telos is not dead, but he doesn’t plan on making updates to it currently. Telos will continue to be accepted as a payment option for services, but other than that, there are no plans for Telos currently, and might not be in the future either, unless someone wants to take Telos over.

XBTX on the other hand will be the coin of the future in current plans, although, right now nothing is happening to XBTX.

If you have been following Discord chats in the Telos world, you might have noticed there has been lots of trouble getting the Telos blockchain to sync properly and not fork away. No one knows which fork currently is the Telos fork. I suppose this is part of the reason for moving future development out of Telos.

To get a working blockchain is of course a must to be able to move coins/tokens properly around, and since fixing current blockchain issues are bit difficult in the current state where active users have dropped significantly low, Pascal is now taking a bit of a side step in hopes of fixing the situation by having created PARA Token to BNB-blockchain (BEP20).

The idea is that you can now Swap, or trade, or however you like to look at it, your Telos Coins and XBTX tokens to PARA Tokens.

However, this is only a temporary solution to get things moving again and being able to promote PARA tokens to new people, and some point in the future, when XBTX version 2 is ready, PARA Tokens will be swapped, traded, or however you like to look at it, back to XBTX.

So in a nutshell. You can now trade your XBTX and Telos coins into PARA Tokens, and in the future, you will be able to trade PARA Tokens into XBTX(2) again.

To make it clear. PARA Token is not a new coin that is going to replace XBTX and Teloscoin, it is currently only meant to be a temporary solution to existing problems, and when things are fixed and better again, things will move back to XBTX again. That is the plan.

NOW TO THE ACTUAL OFFER AND HOW TO GRAB IT.

Pascal made a public announcement on the 1st of August making an offer that he said is valid for 30 days, which is in practice probably to the end of this month, as in, ending 4 days later. He did however hint he might extend the offer time, but there is no guarantee it will be for the same price.

Offer is following:

You can trade following coins to get PARA Tokens:

1 PARA (XBTX token) –> 1 PARA (BEP20) Token

5 XBTX –> 1 PARA Token

100 TELOS –> 1 PARA Token

100 KTS –> 1 PARA Token

100 BIRAKE –> 1 PARA Token

100 LCG –> 1 PARA Token

2 SFD –> 1 PARA Token

1 AML –> 1 PARA Token

1 BAM –> 1 PARA Token

1 USDT –> 1 PARA Token

1 UNIPIG -> 100 000 PARA Token

INSTRUCTIONS ON HOW TO GRAB THIS OFFER

First you need to make BEP20 compatible wallet address for yourself, one option would be to use Metamask.io

NOTICE! When you make this address, do remember to copy its Privatekey somewhere to store it, because if you lose access to your wallet, you can use Privatekey to get your wallet back.

But do keep in mind that if someone else gets access to your private key, then he can do whatever he wants with your wallet.

After this is done, you still have to make your wallet to see your Para Tokens (If they are there, they are there regardless if you see them or not, so you could do this at a later point as well).

To start, You need to change the Network you are connected to:

First Click on “Network Selection”-button (RED 1) and you should see the above list of networks.

Choose “Add Network” (RED 2)

This should result in the following page:

Click on “Add“-button (Circled in RED in picture) beside “BNB Smart Chain (Previously Binance Smart Chain Mainnet)” (underlined in RED in picture)

This should result in the Approval page showing up:

Click “Approve” and you now have BNB Smart Chain as a Network option, but notice that you are not connected to it at this point yet. To connect:

Click again on “Change Network”-button like earlier (RED 1)

Choose the now available “BNB Smart Chain“-option from the list (RED 2)

And you are connected to BNB Smart Chain network.
However, while you will now see your BNB coins, you still won’t see your PARA Tokens:

To fix this, click on “+ import Token”: (RED circled)

This will open the “Custom token“-page:

In the “Custom token”, you need to write to “Token contract address”, the following address: 0x8A5652EB940dD3832a8426FBe5afBB01b0f96a14

This is the contract address of PARA, which in other words is when PARA token was created, and through this Import Token is able to Import PARA to your wallet.

“Token symbol”-part is a free choice, but I would suggest using for example “PARA” for you yourself to recognize it.

Token decimal you can leave to 10 as it is.

click “Add custom token”, and you should see something like this:

And now, finally, click on “Import tokens”-button, and you are done:

Now that You are able to both see and receive your PARA Tokens from the deal to your just-created wallet address, let’s move on to making the actual Deal.

TO MAKE THE DEAL, YOU NEED TO FILL THE CONTRACT. You can download that contract from here:

This contract is mostly quite self-explanatory, however, couple of places to note:

First of all, don’t forget to put your wallet address where to receive your Para Tokens (RED 1), and notice that if you are exchanging more than one Coin into Para Tokens, it is enough that you put the wallet address just once to the first line.

“Destination address to send your coins to Papara International AG” (RED 2) I suppose you left it empty and wait for the contract to be sent back to you after it is accepted, however, do notice about next note.

“Source” (RED 3) is a bit trickier and requires a longer explanation because of BUTs regarding this.

Basically, it is quite simple. You tell where your coins are, for example, your Teloscoin wallet address, so that when you send them from that address to Pascal, he will then know those are coins from you, and that your part of the deal is done and he can start sending PARA Tokens to you.

BUT, it isn’t quite that simple. For as already mentioned earlier, people are not able to sync their wallets, and hence not able to send their coins either. Bitdorado is also having problems and currently coins are stuck there.

So while the idea basically is that you would send your coins to Pascal, and then Pascal would send PARA Tokens to you, due to this not being really possible, there are now some options on how to do this.

Bitdorado – You can take a screenshot of your current balance, and then add it as an attachment to the email in which you are sending the contract too. The idea with this is that Pascal accepts that you have for example 100k Teloscoins in your Bitdorado balance, and the deal is basically that as soon as it becomes possible to send those coins to Pascal, you will send them, and Pascal will trust that you will do so in a timely manner and give you your PARA Tokens already now.

Teloscoin Wallet – Since it is quite difficult currently to get your wallet to sync and without it forking, and therefore send the coins, you could alternatively, especially if you are exchanging all your coins in your wallet to PARA Tokens, send Pascal your Private Key instead.

Remember how I mentioned earlier when making Bep20 wallet about never giving your Private Key to anyone, This is exactly why, since by giving your Private Key to Pascal, he is able to fully control your wallet, and therefore that is one way to “send your coins” to Pascal, but remember, he gets access to your whole wallet, so I would suggest using this only if you are exchanging all your coins in your wallet to PARA Tokens.

Regarding Stuck Exchanges or Similar, I guess you could try if the same applies as to Bitdorado, maybe Pascal accepts the deal.

After you have filled and saved the contract, send it to the email address: dennis@papara.vision

and wait for the answer. As long as you send this contract with possibly the required attachments before month changes, I suppose you will get the deal, even if the answer would come much later.

Should I change my Coins to PARA Tokens?

I meant to have a longer, separate, article about this, but will now write just shortly.

Teloscoins are at their bottom, and since Pascal isn’t planning on working on it in the future, except for adding for payments, I would say switching to PARA is likely the better chance to get some value out of them. If you have lots of Teloscoins, like I do, then you could look at leaving some of them for yourself, depending on your plans. For example, Bitdorado Turkey is hosted by third parties, and at least so far they have not shown signs of stopping to use Teloscoins for their TIERS leveling, so if you are after the TIERS, then might be a good move to leave some for yourself. Also, you could leave maybe 100k coins left to be able to run a master node in the future, if things start going on again. Other than that, I would suggest changing your Teloscoins to PARA coins, but remember, this is just my opinion, not financial advice, and it is your own stupidity if you decide to do as I say.

There is also one more reason to do so. For Pascal has said there will be an airdrop of 10 million PARA coins to the top 500 users, of which how to claim this airdrop for yourself you can read more from this Telosnews.com article.

If these are evenly distributed, it could mean 20 thousand PARA Tokens per top 500 users, and with the current 100 to 1 offer, that would mean 2 Million Teloscoins. So even if you are planning on hanging to Teloscoins, it might still be worth changing them to PARA Tokens at this point, and after airdrop, back to Teloscoins, to get significantly more Teloscoins possibly, which of course depends upon how the price of PARA Token and Teloscoin develops. Anyway, Pascal has said he is planning on adding an automated system of being able to swap between PARA-XBTX/Teloscoin, so should be doable.

Regarding the chances of being one of the top 500 users. Well, right now there is one bit higher paying bounty which gives you 1000 PARA Tokens, but it is difficult, you need to have 100 followers on twitter to do it, which most won’t. Other bounties are giving only 50 PARA Tokens, although some can be done more than once.

So basically getting past 50 PARA Tokens might be enough already, and especially if you get past 1000, I think even if more people join, and no more high-paying Bounties come, then I guess that is quite a guarantee to get to the top 500 Users and receive the Airdrop. Now 1000 PARA Tokens can be obtained by having 100k Teloscoins. Would say that if you have at least 20k Teloscoins, then at least now it would look like you would quite likely be getting to the top 500 users for the airdrop, unless things change in the middle.

What comes to XBTX, this one is a bit trickier, since PARA Tokens will eventually be exchanged back to XBTX Coins if the plan goes as I have currently understood it, so it could happen that one or the other is more expensive. So one way would be to switch half of your XBTX to PARA tokens to guarantee getting to the top 500 users (supposing you have a good amount) and that way split the risk of price development favoring one or the other greatly.

PARA (XBTX) is obvious to change into PARA Tokens (Bep20), since these are essentially the same thing, but PARA (XBTX) to my understanding will disappear now in favor of PARA Token (Bep20)

It is unknown if nothing is going to happen with KTS, so could consider exchanging them all to make sure at least something happens.

AML seems to be buried too based upon Pascal’s last talks about it, if I understood right. BAM and LCG I don’t know enough to comment.


BIR is owned by a third party, so I have no clue what their plans are nor if it would be wise to exchange or keep them.

SFD I don’t even know what it is, and USDT is USDT, If you wish to use them to buy some PARA, you can, but it isn’t like USDT wouldn’t be useful in the future too.

As a last thing, Discord username Micke pointed me out that if you exchange to PARA Tokens with the idea of getting your share from the airdrop, you should also prepare a small amount of BNB to your wallet to be able to get this airdrop. And after checking a bit more, there are other things you need to do as well to be eligible for the PARA Token airdrop, which you can find in this small Telosnews.com article detailing them better.

edit 2023-08-29: Original instructions to see your PARA Tokens weren’t enough to see them yet, it was missing the part about changing your Network to BNB Smart Chain network in metamask, article now updated to include that part too.

Lucky 7 article from a year ago: “BITDORADO EXPLAINED THEIR STANDARD, CONVERTIBLE AND “TOKEN OF CHOICE” POOL”

As I was updating links to Lucky 7s articles since his old Cryptoacid.com had changed to wordpress.cryptoacid addresses I noticed I have actually missed one article from him from more than a year ago.

On may 5th 2020 Lucky seven published two articles, which might be why I missed the other one, perhaps thinking I already released a news item about it when it was actually about the other one.

Basically these two articles are two parts of the same topic, both teaching you about how to use Bitdorado (now Bitdorado Turkey). Articles content has got a bit out of date now that Bitdorado Turkey has concentrated more heavily towards Coin & Growth pools, but it might well be worth a read still since who knows what direction Bitdorado Turkey will take in the future.

New Transcendence/Telos Roadmap 2021/2022 released

It appears we have a new roadmap for this year ready based upon that Pascal tweeted it, well, actually not so new since this was tweeted already a month ago.

It appears to be very similar in style to the previous Roadmap for 2020 in that it tells only about some technical things and mainly leaves all the fun stuff out, like Cryptomages. But then again, Cryptomages didn’t come out in 2020, so maybe it was for accuracy.

When reading this roadmap, it is good to compare it to the previous one to have some idea how well these plans will come together. I would say, without actually thoroughly checking it, that about half of what was in roadmap 2020, did happen, and then another 1/4th happened in some different form than originally planned, and another 1/4th didn’t happen. So perhaps this is what we can expect from this one too.

But what is there now:

TELOS WALLET isn’t really telling us much anything. It mentions there are going to be two votings, one about Telos fundamentals (rewards, collateral, split) and another about a hard fork, which actually sounds pretty much the same as the first one, except that it adds voting about magnet links, which seems to be connected to the third thing mentioned, which is to add Transcendence Cloud to wallet I suppose, although the wording is just talking about adding magnet links to use in Transcendence Cloud (which it says will be voted on hard fork part?)

In short. Seems the plan from technical stuff is to add Transcendence Cloud (used to be Amicloud) to Wallet and add a Magnetic link feature to be able to use it with the blockchain. And non technically to have votes about telos fundamentals, which will probably happen through Dashboard actually, although they technically are Wallet features.

XBTX WALLET section mentions only DYNANET being added, more about that in the DYNANET DEX part.

XBTX ASSETS section mentions a couple of Assets that are planned to be created using the XBTX Asset creation system:

AML token is for the AML-Now KYC system
BAM (Brick And Mortar) is meant for real estate stuff
EUREX is to my understanding Euro Bound token, meaning the price of one Eurex should always be exactly one Euro
CO2 token is meant for Greenbox (a different version of a Bluebox).

DYNANET DEX tells in more detail about the DYNANET that is mentioned in the XBTX Wallet part. It is planned that next month first trusted nodes will be put up for this Dynanet DEX, and I suppose these are the same trusted nodes that I have mentioned in “Telos R – What is it?”-article, which also tells you more about the part where it mentions Telos R as one of the roadmap features in DYNANET.

It also mentions that DYNANET will have Crosschain feature that will be used by bitdorado, probably meaning that Bitdorado could be used as an exchange basically.

Swap & Merge part I leave uncommented, since I am too unsure what exactly it is talking about.

TRANSCENDENCE DASHBOARD tells about stuff that has actually partially been even done already (I saw the first work-in-progress version of this Roadmap already at February I think). It mentions built-in KYC, which might be the AML there already, or maybe something else, Built-in Masternode hosting, meaning you can easily set up master nodes without tech-how just using the dashboard, and hash power renting using the dashboard, which is basically the same as we have in Bitdorado already but would be doable directly from the dashboard.

Cloud I suppose is the same as Transcendence Cloud in the TELOS WALLET section, and Multiservice is just vaguely without details mentioning that there is a plan to merge Indiego, Cloud, and dashboard all into the same. That basically I suppose Indiego store would work through the dashboard. Last, CO2 token is mentioned again, as it was mentioned in XBTX ASSETS already once.

GENERAL UPDATES mentions built-in arbitrage trading, does it mean that users can do it automatically or something else, is not told. Tax reporting is mentioned, and have also to at least some part even added to the dashboard already, I myself used it for end of year tax reporting already. And then there is mention of antifraud on the on-chain analysis level. I am not sure how exactly that works, but I guess this vague description gives already quite a good idea of the general idea.

This is the plan, and hopefully it works out fully and more stuff comes too. Based upon how the 2020 roadmap happened, I suppose we can expect quite many of these to become reality and some more stuff too that are not mentioned here at all.

Important changes at Bitdorado – URL changes, new registrations possible

Today some changes worth a notice have happened at Bitdorado.

First of all, Bitdorado.eu has been put to frozen state, there is no point in trying to log in there anymore.

Instead, Bitdorado.biz.tr have opened.

This is because as mentioned by Pascal in Discord talks many times already, Bitdorado has now become Bitdorado Turkey as part of Pascals plan to conquer Turkey’s Cryptospheres to Telos. You might have also noticed that in Bitdorado Exchange you can see its name as Bitdorado Turkey there, although otherwise it is same as before.

If you are one of the existing members of Bitdorado, no need to worry, you just log in to the new Bitdorado Turkey just like you logged in to the previous Bitdorado and you will find all your assets there in place, just like before.

However, notice the second change as well. Before you were able to log in using OTP-code you would receive to your phone as an SMS message, but this is no more. Now you need to Install either to your Android or iOS device an AML Now App, and you will receive this OTP code to your AML Now App. Also, a notice for existing users of the AML Now App, notice that you need to update to the newest version for this to work properly with Bitdorado Turkey.

Another important change is that new registrations are accepted again. For a long time already there were no new registrations accepted to Bitdorado, but with the change to Bitdorado Turkey, this has now changed and new members are very welcome again.

When it becomes more clear if there come changes to Bitdorado Pools, and if which of them still exist, etc. I will write to let you, especially people new to Bitdorado, another article telling about them, since right now I am myself too bit confused about them.

Bitcoin Subsidium Classic (XBTXC) listed to Birake/Bitdorado Exchange

And thus Bitcoin Subsidium Classic (XBTXC) is born, or depends how you look at it since technically XBTXC been around longer than our current XBTX which basically replaced XBTXC couple of months ago as is the habit with coin forks most of time.

Anyway, when XBTX was forked from GPU minable coin to GPU resistant coin in favor of making it CPU minable coin, it left an empty spot open for those people who actually favored GPU mining.

Hence Pascal figured that hey, why not actually make XBTX Classic as well. That would mean that instead of having just this new current CPU minable XBTX fork that replaced the old XBTX fork, we would also have the old fork existing at same time.

And this could be said to have happened two days ago when XBTXC was listed to Birake and Bitdorado Exchange to be traded against BTC.

Meaning you can now trade your XBTX Classic coins against BTC and vice versa.

Nice thing about this is that as long as you had some XBTX when the last XBTX fork happened, then you will already own some XBTX Classic too.

That if you had 1000 XBTX at the time of fork, then you will also have 1000 XBTX Classic coins now in addition to whatever you are currently holding of the current XBTX.

Question is if there will happen much with XBTX Classic or not, and will it be updated ever, for example in case there is some serious bug found, and that remains to be seen.

I quess it would depend upon whether people actually do some trading with the classic or not, and that might be partially dependent upon what Pascal does with it.

As far as I can recall, I think Pascal have mentioned that he basically does plan to support XBTX Classic too if people are interested, by accepting XBTXC as a payment method for his products.

Oh, and question that is probably burning on many readers mind is in how to access these XBTX Classics they already have.

Well, if you are like me, that you had them stored in Birake/Bitdorado Exchange, instead of actually having a wallet, then you just have to wait and hope that the exchange at some point decides to support it in such a way that you can get access to your Classic coins as well.

Otherwise, if I understood right, there will be a new wallet released soon that will show the classic coins you have, although basically I guess you could use some previous fork XBTX wallet version as well to access them.

TELOS/ETH, TELOS/BIR trading pairs added to Bitdorado and Birake exchange

Today new trading pairs for Telos have appeared to both Bitdorado Exchange, as well as Birake Exchange. These new pairs being TELOS/BIR and TELOS/ETH.

This means that those people who have been wanting to change their Birake and Ethereum coins into Telos coins, but have so far not done it since it is so difficult to first exchange to Bitcoins and then to Telos, can now directly trade all their BIR and ETH coins for Telos coins.

Welcome aboard. Better late than never!

Governance.rocks voting of “2nd Coin Listing for Bitdorado Pool and Exchange” have ended

2nd Coin Listing for Bitdorado Pool and Exchange vote have ended yesterday, and it is bit unclear what the result is.

From below screenshot, you can see what the situation was showing at governance.rocks today and even week ago as far as I looked:

According to this, MERGE-coin would be clear winner.

However, before the deadline, I myself voted 15 votes to Biblepay coin. However, none of those votes updated to the governance.rocks.

So it remains to be seen if Biblepay will be the winner, or Merge coin, or maybe even some third one if by surprise someone else had the same problem as I did.

Anyway, this article will be updated when Pascal confirms the winner.

Lucky Seven Tuesday Article: “Introduction to the BITDORADO dashboard and Staking pool tutorial” from 5th of May

Lucky Sevens, this time again, Tuesday, article title pretty much says what it contains saving me the explanation.

To get some tutorial about what those things in Bitdorado dashboard and staking pool mean, just read the article.

I actually myself finally learned something about that cryptobags option on Bitdorado. Been wondering about them all this time on how do they work, and this article explained at least a bit about it. Not that it really matters anymore since our dear old Grumpy Pascal announced already this morning that all the Cryptobags have already been bought.

Well, we who missed them, let’s hope there comes more in the future.

While waiting for that to happen, read the actual article from one of the sources below:

CRYPTOACID

PUBLISH0X

STEEMIT

MEDIUM

MINDS

And in Russia thanks to MOD Tybibounes translation:
VK.COM

Alejandro Finol Article: “Transcendence project weekly update, ESBC added to Bitdorado pool” from April 17th

While the title of this article suggests that Alejandro is mainly talking about listing of ESBC token to Bitdorado, this article is about much much more, perhaps even too much since it is starting to be hard to digest all the info.

It is also interesting to see what will happen since Alejandro here have made some anticipations regarding the Telos price saying the price could reach 200-300 SAT by the middle of the year, to which there isn’t much time left.

Now this might seem like he might have been wrong about his prediction, especially since he mentions the then price and suggests that Telos could go up instead of down, but, let’s not forget that his previous guess about Telos price was exactly spot on, so let’s not say he is wrong until we reach the middle of the year first, and even if it would take a bit after the middle of the year for his prediction to happen, I would claim it was right enough still.

Anyway, personally I think he is completely wrong thinking 200-300 SAT price, in my opinion, a realistic price for the middle of the year would be 20 000 – 30 000 SAT. So go go buy quickly to make my prediction real!

Oh yeah, and the actual article is available from one of the below sources:

STEEMIT
HIVE
MEDIUM

Bitdorado Exchange opens, sort of.

Bitdorado has taken its first steps into an exchange and you can now (as of since 27th of Feb) actually use it as an exchange.

After all this waiting, this might not satisfy you all as bitdorado exchange currently operates under Birake Exchange.

But do understand that Bitdorados idea is to be much more than an exchange, and actually that bitdorado is exchange at all is just a side-effect as Pascal said, that its intention is not in being yet another exchange, but exchange part just happens to be part of it all, so why not use it too.

Hence we now have bitdorado exchange that operates under Birake.

Nothing that special yet, but it is still nice having its own exchange for the Transcendence project.

From now on if you are thinking of buying or selling Telos coins, I would suggest using Bitdorado Exchange for it.

And do keep in mind, this is just the beginning yet.

Voting about coins to be listed to Bitdorado exchange has started.

Governance.rocks has new voting, this time to do with Bitdorado Exchange.

Bitdorado already has or is going to have TELOS, XBTX, BIRAKE, Audiocoin.

This voting is about which other coins will be added to Bitdorado exchange, and therefore also to blue boxes and peertoro as long as suitable for them.

Currently, there are three ways to get listed to Bitdorado:
1. Contact Bitdorado and make a deal
2. Get 2 500 Votes in this voting (notice that number 1 option could be cheaper than this)
3. Get most votes when the voting ends.

Voting ends on the 22nd of April, and new voting should start after that and all the votes from this round should carry on to the second round.

However, before moving to the next round, the option number 3 – the most voted coin – should get listed to bitdorado.

As it currently stands, the winner of this round, with 29 votes, would be FLS coin, the second after that, Divi, is already clearly behind with only 4 votes, after which comes Verium and LINK with 3 votes each.

After this comes two coins with 2 votes: Biblepay and ZEC

And several with 1 Vote: Ethereum, Ravencoin, TPay, Nimiq.

The rest of the coins have no votes at all: DASH, Midas, NRG, Pivx, XZC, Cardano, Cosmos, Moqway, Grin, Tomochain.

However, there is still one and a half month of time to vote, so anything can happen, and then there is always next rounds that you can start aiming at already in this round.

Go and vote to get your favored ones listed.

Lucky Seven Tuesday article: “BITDORADO Edition devices comparison and prices”

Telosnews.com is slightly behind on news but trying to catch up now again.

On the 18th of February, that be roughly 3 weeks ago, Lucky Seven released yet another one of his Tuesday articles that used to happen on Mondays.

And as the title already suggests, the purpose of this article is to tell you about Bitdorado edition devices that are still available to buy, or at least I think they are.

Problem was that so many different devices with Bitdorado editions came out at once, so it was difficult to compare them together on which exact one I specifically should buy. Lucky Sevens’ article hopefully helps with that.

Read it from one of the below places:
Cryptoacid
Steemit
Medium
Minds

And as it happens to be, our dear MOD Tybiboune started translating Lucky Sevens articles into Russian, so now just spasibo and read it from:
VK.COM

Bitdorado OTC trading opened.

Bitdorado isn’t yet open the way other crypto exchanges are, but parts of it are already opening, and OTC (Over-The-Counter) Trading is now available.

What this OTC in Crypto World, and specifically in Bitdorados case means is that you can send an offer to buy or sell some crypto coins, and bitdorado will send you an offer about what price they are willing to do the trade for.

Idea is that normally when we are talking of, especially, low volume coins, if you try to buy a bigger amount the problem is that the price goes up because there aren’t many coins on sale, or if you want to sell many at once, then the price goes down since likewise, there aren’t that many sellers either.

By doing Over-The-Counter trade you are doing the trade outside of any exchange and you will be doing the deal directly with Bitdorado. Hence your deal won’t affect the price since either the coins you are buying are not available through any exchange, but they are given directly by bitdorado from their big bag of savings not visible to anyone, or likewise, bitdorado will pay you euros directly from their pocket, in which case none of the sale orders available in exchanges are being filled, since once again, your coins will end up directly to bitdorados big bag of coins.

However, do notice that currently Bitdorado demands that OTC deals need to be valued at a minimum of 5 000 Euros to do them.

Notice also that if you are a Premium Member of Bitdorado, which should be available for 400 000 Telos now that the cheaper 200 000 Telos memberships to my understanding are already gone, then instead of asking an offer from Bitdorado, you can make the deal based upon Coingeckos current price.

And do notice, if you have one of the eligible bitdorado edition items, like bluebox bitdorado edition, you are not eligible for this membership OTC offer, since the bluebox you own is the member, not you yourself.

Bitdorados OTC-trading offer is available to both Buying and Selling, although the form shows only Buying as an option. But it doesn’t really make a difference since to sell for example TELOS against BTC, You just choose the “Buy BTC”-option and Buy them with TELOS, making it the same as selling your TELOS against BTC.

Available currencies to trade currently are:
TELOS, XBTX, AML, LEDLY, VEND, BTC.

FIAT currencies are planned to come to the mix in the already near future, but I guess that will depend upon getting licenses to do so first.

Blockinsure.me offers a possibility to upgrade Blueboxes to bitdorado editions

Here is something very interesting. If you haven’t noticed it before, in Telos land there is this extended warranty thing called Blockinsure.me available to buy. This will protect you in the case if for example one of your Blueboxes decides to break.

To make buying Blockinsure.me even more attractive than before, there is now an upgrade attached to the blockinsure.me deal.

If you have a Blueboxes, then you can buy Blockinsure.me deal and get them upgraded.

Buy a basic membership and you can get 1-10 Blueboxes upgraded to Bitdorado edition. Buy Gold membership and you can get 10-30 Blueboxes upgraded. more than that, buy a Platinum Membership and get them upgraded.

Upgrading these Blueboxes to Bitdorado editions means that your Blueboxes will become premium members of Bitdorado.

Do notice that there is a difference between you yourself or your Bluebox being a premium member of Bitdorado, with you yourself as a premium member being the better option, except, you can only get one premium membership for yourself while to Blueboxes you can get an endless amount of them as long as you have Blueboxes to make become a premium member.

I do plan to write more extensively at some point about Bitdorado premium membership and what it means, but for now, know it is a good thing and worth seeking after for.

Coins can now apply to Bitdorado exchange.

It was announced that Coins can now apply to get listed to the upcoming Bitdorado exchange.

Listing to Bitdorado will also result in being listed to pools, instatrade, OTC and bots. And also being added to Piggybanks and Blueboxes when applicable.

Listing can either be done against a fee, which varies from coin to coin, or coin can try to get listed through being voted, which actually costs too as voting costs and could in worse case cost even more than simply paying the negotiated listing fee.

If someone is interested in working as an agent to some coin in getting listed, this agent will get some percentage of this listing fee to himself, which is nice.

This also reminds me that those with Bitdorado memberships, either with having paid for one, or having got it otherwise, like from one of the bitdorado edition blueboxes, will also get a share of the listing fee if I have understood right.

Lucky Seven monday article “BITDORADO by Transcendence is around the corner”

Another Monday article from lucky seven has been ready for over a week by now already.

This article is all about Bitdorado, the exchange TELOSNEWS.COM has not yet covered properly, so this article will fill that hole a bit at least.

read it from one of the following places:

Cryptoacid

Publish0x

Minds

Medium

Steemit

Telos Video from a year ago

A video that seems to have escaped our attention, and already from a year ago?

This is why we need TELOSNEWS.COM which, had it been around a year ago already, would have told you already in time that there is such a video existing.

Right now it seems most Telos community members are not aware of this video at all.

So here you are, a Telos Video from a year ago which seems to be more relevant today than it was a year ago, as Cryptomages and Bitdorado mentioned in this video are only just about to be released now.