Doing the Carboncoin Coinswap

NOTE: You cannot swap coins that you acquired after 23:59 GMT on January 22 2018. You can still swap coins bought before that time. You can no longer swap Carboncoin for CCE under this scheme. You will be able to swap them for the new Carboncoin when it is released. This article is here for historical reasons.

If you hold Carboncoin ($CARBON) and have yet to swap some for the new token, then time is running out. This isn’t a why, it’s a how. Have a look at my interview with Chris Carbon if you want to know more on the why.

I suggest read the whole article through before starting.

First some basics:

  • You do NOT have to swap your $CARBON for the new token ($CCE)
  • You can swap up to 50% of the $CARBON for $CCE. Each $CCE costs 100 $CARBON, so if you swap 1,000,000 $CARBON you get 10,000 $CCE.
  • You must hold your $CARBON in a Carbon Wallet to participate in the swap.
  • $CCE (Carbon Coin Ether) is a holding token, once the new development has been completed it will be swapped into the New Token, let’s call it $NEWCARBON. This might be on its own blockchain or running on something like EOS – deciding that is part of the development. When you swap back it will be the reverse exchange rate, i.e 1 $CCE will get you 100 $NEWCARBON.
  • The $CCE token is an Ethereum ERC20 token so you will need an Ethereum Wallet – you CANNOT use an Exchange.

Setting up your Wallet

  1. If you hold your $CARBON at YoBit you will need to transfer it to a Carbon Wallet (if it is already in a wallet, then skip to here).
  2. Download the wallet from https://carboncoin.cc/ – there are wallets available for Mac OSX, Windows and Android. The latest version is 0.9.5
  3. Install it on your computer/device.
  4. Now run it. You will need to wait while the chain synchronises. This can take a while.
  5. Now get your public key from the Carboncoin wallet.
    1. Click on Receive and then on Request – you do not need to fill in the other fields
    2. Now copy your public key / address by clicking the Copy Address button.

What to do on YOBit

  1. On YoBit login and go to your Wallets
  2. Now, find your $CARBON wallet and click to withdraw.
  3. In the ‘Withdrawal Address’ box paste your Carbon Wallet Public Key (see 5.2 above).It is important that the withdrawal address is  correct, if it is not you will LOSE your coins. So first off do a small trial say 1.01 $CARBON, any amount above 0.01 (that’s YOBit’s fee) would be ok. Enter your trial amount in the Quantity box. The bottom 2 boxes will auto complete. Click “Withdrawal request”.Now wait for this to appear in your Carbon wallet – it won’t take long. If you don’t receive it, give it 15 minutes or so,  then the likelihood is that the address was incorrect. But assuming that you receive it, go back to YOBit and start the withdrawal again but instead of entering a value in the Quantity box click the ‘Max’ link as you’ll want to be transferring all your $CARBON won’t you?
  4. Now Click ‘Withdrawal Request’ and wait.
  5. If your Carbon Wallet is still open a notification will pop up saying that funds are arriving. This is almost immediate.
  6. Go to your Carbon Wallet and click on Overview. You will see the Pending transaction and your updated balance.
  7. Now wait until the Pending is merged into your Available balance.

Getting Ready for the Swap

You will Need:

  1. Your Carbon Wallet Public Key(s) that hold your $CARBON.
  2. A Ethereum Wallet – Make sure that it is a wallet that
    a) gives you control over the private keys
    b) supports tokens.Note that FreeWallet does not support $CCE only tokens on exchanges and it is highly unlikely that $CCE will be traded, at least short term.The My Ethereum Wallet (MEW) is popular and been tested with $CCE. You can access it here https://www.myetherwallet.com/ but please double, no triple, check you are in the right place. Go through the install info slideshow and then go to the ‘Setting up MEW with MetaMask’ from the link on the last slide.
  3. Your Ethereum Wallet Public Key where you want the $CCE sent.

The Coin Swap!

  1. Join the Slack group here https://carboncoin.slack.com/. If you are not already a member you will need to get an email invite so head off to the Telegram group where you can arrange that.
  2. Go to the “Coinswapping” channel and post a message to @aliblackwell, @ebenezer or @zuludykes (the admins). They will then DM you and ask for your Carbon Public Key.
  3. They will verify the amount held.
  4. They will Direct Message (DM) you with the amount you are allowed to swap (50% of your holdings) and the Carbon Address to send it to. They will also ask you for your  Ethereum Public Key where you want your $CCE token held.
  5. To send your $CARBON, open your Carbon Wallet, go to “Send”. Copy and Paste the address sent to you in the DM, enter the amount to send and click the ‘Send’ button.
  6. Once the admins have confirmed receipt they will issue you with your $CCE.
  7. To see the $CCE in your Ethereum Wallet you will need to add a custom token. To do this on MEW you go to the address that it has been sent to and click ‘Add Custom Token’
  8. Now complete the form and click ‘Save’Contract Address: 0x47f92ebf4881359469bceffe1f753fe910701024
    Symbol: CCE
    Decimals: 8
  9. Now your $CCE will display in the tokens list
    alternatively you can go to https://ethplorer.io and paste in your Ethereum Public Key

If you want to see how the swap is progressing have a look at https://etherscan.io/token/0x47f92ebf4881359469bceffe1f753fe910701024#balances where you can see the balances that have been issued by address – you should find yours in there somewhere.

Hope this has helped.

The articles on this site are opinions and for information purposes only.  It is not intended to be investment advice.  Seek a duly licensed professional for investment advice and do your own research

Disclosure: I hold $CARBON and $CCE

© copyright 2018 Russell Weetch

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4 thoughts on “Doing the Carboncoin Coinswap”

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