Ripple.com Koin orderbook instructions!   screenshot



Hey Koin people, there is a working Koin orderbook on ripple that you can use place bids and asks on to trade your Koin for any other currency on ripple. These instructions will be specific to Bitstamp.com's BTC ripple asset for KCY (kKoin) which is redeemable for Koin at 1 KCY equal to 1000 Koin.

#1) Open a new ripple account at https://ripple.com/client/. If you already have an account, great!

#2) You will need to get some XRP loaded on your account. You only need about 40 XRP to get it all working. Ask around. Contact me. Some sites like peercover (google it) will allow you to buy some .. Should be $1-$2 for your 40.

#3) Get a Bitstamp account and withdraw some BTC to your ripple account if your looking to buy Koin. If you cannot get a Bitstamp account, I can use mine to send your ripple account BTC. Your ripple address is shown by using the Receive icon near the top of the Ripple web client. That's what you will use to withdraw your Bitstamp BTC into ripple for trading.

#4) The almighty Trade icon is to the right of the Receive icon. Get that open and you will see the trade interface. The first thing you need to do is type in " KCY/BTC " in that dropdown box. Yes it's editable. You will see base currency and counter currency entries to the right of the dropdown. You need to assign those to see the Koin order book.

Base Currency: rJfpbkyUyhW57zP3kqLFzX1PM8Tg8rfdAW
Counter Currency: rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B

Fill those out like so and the bids and asks will appear below. Keep in mind each bid or ask you place raises the required reserve of XRP needed on your account. Cancelling an order returns that reserve to previous levels.

#5) Getting KCY to sell on here or getting the Koin for the KCY you just bought: Glad you asked. As of now there is no automated way to do that but don't fret. I'll be dedicated to handling requests to convert KCY (kKoin) to Koin. Eventually there will be an automated way to do that much like Bitstamp BTC in and out of Ripple. Bitstamp BTC isn't the only other asset on here. Bitstamp also does USD into ripple as well and feel free to set up orders for " KCY/USD " as you see fit. Also you could get more XRP for your KCY too. Try " KCY/XRP ". Also any of the books can be flipped if you prefer looking at them that way: " BTC/KCY " , " USD/KCY " , " XRP/KCY ". Also there are other gateways into ripple for alot of other currencies and such.

#6) Redeeming KCY is, for the most part, painless. Simply send the transaction ID from when you sent the KCY credits to rJfpbkyUyhW57zP3kqLFzX1PM8Tg8rfdAW . You can get that ID from the Wallet icon by clicking the transaction in your history. Send that and your Koin address to this form. Enjoy using an actual orderbook now that 0day is a goner  :)