Karatbars just released the official KCB to KBC exchange rate. The document is now available in your Karatbars backoffice.
To view the document:
Under ‘General’ go to ‘Downloads‘, then select ‘Terms and Conditions’, then click ‘Fixing of the exchange rate KCB to KBC for the Hard Fork’
(See Screenshot #1 below)
You can also view and download the document here.
Screenshot #1
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Okay, the exchange rate is 2.54 KBC = 1 KCB
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This rate is 5 times higher than expected! (see why below).
How was this exchange rate calculated?
The calculation was based on two components. View the document if you want to see what those components are.
Keep in mind that KBC is basically that new coin (on this blog sometimes I referred to this new coin as GSC). It’s just the name hasn’t been changed yet. It may or may not be changed to GSC or something else in the near future.
Okay 2.54 KBC = 1 KCB… So, for every KCB you will get 2.54 KBC when performing the exchange on Karatbit.
Let’s say you have 100,000 KCB coins. Then, in total, you will get 254,000 KBC coins (100,000 x 2.54).
Why is this rate 5 times higher than expected?
Remember that it was said that 2 KCB may equal to 1 KBC (GSC)? (I mentioned that on this blog a few times).
2 KCB = 1 KBC expressed differently is 1 KCB = 0.5 KBC. (Just divide both sides by 2).
Now, let’s compare the rates:
Expected rate: 1 KCB = 0.5 KBC
Actual official rate: 1 KCB = 2.54 KBC
Given the above, what is difference between the expected and the actual official rate? Divide 2.54 by 0.5 and you will get the difference, which is 5.1.
As you can see, the official exchange rate turned out to be 5 times higher than expected! This is a big reason to celebrate 🙂
When will you be able to exchange KCB for KBC?
According to the hard fork timeline, on December 21 (tomorrow) the swap from KCB to KBC will be activated on Karatbit.
On this same day – tomorrow – you will be able to use the ‘exchange’ feature and exchange KCB for KBC (according to the timeline).
Then, starting on January 5, all KCB that you exchange for KBC can be freely manipulated on the markets.
In other words, you will be able to trade, withdraw, and deposit these ‘new’ KCB coins. Note: You will have to perform these actions over ERC20 contract.
Here is a ERC20 contract — 0xf3586684107ce0859c44aa2b2e0fb8cd8731a15a (called KBC smart contract).
That’s pretty much it about the exchange rate for today.
Leave any of your questions below 🙂
p.s. If you are curious… Given the above exchange rate, how many KCB in 1 KBC then?
Let’s see:
2.54 KBC = 1 KCB
2.54 KBC/2.54 = 1 KCB/2.54
1 KBC = 0.39 KCB … So, there is 0.39 KCB coins in 1 KBC coin.
J’adore ce site, ces informations sont très intéressantes.
Mille merci
Bonjour Estory,
J’adore cet amour comme ça. Merci 🙂 Revenez souvent!
What are the advantages of doing hard fork? It seems to me that there is now more KBC and more gold is needed to back them up.
Hey Orlando,
Maybe, I’m not sure.
What I heard, is one of the reasons for a hard fork is to eliminate confusion around two very-similar sounding coins: KBC and KCB.
This way there is only one gold-backed coin.
That’s one of the reasons; there are probably more.
Thank you for sharing your opinion 🙂
hellow, i can see my KCB coins are there in the karatbit platform, and i now see Deposit, Withdrawal and explore options, which one do i use to change my KCB to KBC?
Hi Mamosalla,
Please use ‘Exchange’ feature next to KCB (Karatcoinbank Coin).
I’ll soon publish a tutorial on how to exchange KBC for KBC and will paste the link here.
I’d suggest you subscribe to Karatbars updates (the newsletter that I send out) 🙂
thank you very much i am done
You are welcome Mamosalla 🙂
Here is that tutorial if you missed it: https://freewithgold.com/how-to-exchange-kcb-for-kbc-on-karatbit-hard-fork-option-1
Hi Margarita,
In your prediction when will KBC reaches $1 or better yet more than?
Hi Eric,
Given the below features of KBC vs Bitcoin, the chances that KCB reaches $1 per coin and beyond are VERY likely.
Yet, when it will happen exactly, nobody knows.
In my opinion, KBC price is mostly determined by its demand (people investing in it) and economic instability (the more economy is unstable, the higher the price since it is backed by gold; gold is a hedge against recession/economic turbulences).
KBC:
-Decentralized
-Limited in supply
-Backed by gold (a valuable ‘hard’ asset)
-Overall, not subject to volatility since backed by a valuable ‘hard’ asset – gold
Bitcoin:
-Decentralized
-Limited in supply
-Not backed by anything
-Subject to volatility sine not backed by any valuable asset (at least at this very moment and not officially)
🙂
Has the merger already happened? Are we no longer using KBC coin, because it has drop below .004 cents based on today’s market. I’ve never seen the coin this low…
Secondly if you vault your coins at the 100 coins to 1 gram of gold after the one year are you allowed to access that vault have your gold shipped?
Hey,
The merger will be continuing for another 5 months.
Please scroll down to ‘Why KBC price is so low these days? And how to bring it up’ section here.
I’d suggest you read the whole post or watch the video, you will understand more about the hard fork and the KBC price.
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You can have your gold shipped at any time (you are responsible for shipping/handling fees).
To request shipping, in your Karatbars backoffice under ‘Gold’ go to ‘Delivery Request’.
I don’t understand you mentioning 100 coins to 1 gram of gold… Gold for this past promo you get via CEM machine using QR codes you generated on Karatbit or by going to Stuttgart.
Or you meant something else?
Have a fabulous Sunday!
On Karatbit you were able to exchange 100 kbc for 1 gram of gold (BUNV) and you could vault them, I know people that vaulted there coins. My question is when you vault them do they go into your gold vault. Once they are in there you gain intrest on your gold, correct? How do you access the gold once it’s in there?
Hi McKenzie,
I apologize for a delay.
No, you don’t gain interest if you store gold in Karatbars vaults. Read more about Karatabars vaults here.
If you want your gold to be shipped to your home: In your Karatbars backoffice under ‘Gold’ just go to ‘Delivery Request’.