In this tutorial you will learn how to exchange KCB coins for KBC coins on Karatbit.
Exchanging your KCB for KBC is one of two hard fork options.
The second hard fork option is to book your KCB at the original value of 0.14 euros for the future option of the GSB IPO.
GSB stands for Gold Standard Bank
IPO stands for Initial Public Offering
To put it simply, if you want to buy a Gold Standard Bank share (GSB IPO) when Karatbars offers that to public, go to your Karatbit account and get a ‘voucher’.
A note for newbies:
A share is an ownership of a company to a certain degree. In this case the company is Gold Standard Bank. In other words, when you buy a GSB share, you buy a part of Gold Standard Bank!
Important note for everyone:
You need to decide what hard fork option you want to go with before January 4, 2020.
Okay, now, let’s move on and see how to exchange KCB for KBC.
How to exchange KCB for KBC on Karatbit
As you may have noticed, in your Karatbit Dashboard the ‘Exchange’ feature next to KCB is now activated.
Remember that the exchange rate is 1 KCB = 2.54 KBC.
1. First, log in into your Karatbit account
2. Then go straight to ‘Dashboard’ and select ‘Wallet & Balance’ tab
3. In your Dashboard, next to KCB (Karatcoinbank Coin), click ‘Exchange’ button (see Screenshot #1 below)
4. After that, enter the amount of KCB you want to exchange and click ‘Exchange KCB’ button (see Screenshot #2 below)
- Note: The minimum KCB you can exchange is 1 KCB
5. Then, on the pop-up, read the message and click ‘Confirm’ (See Screenshot #3 below)
You will book the amount of 10.0000000 KCB
6. Then on ‘Almost done. Reloading…’ pop-up click ‘Ok’ (See Screenshot #4 below). And you are done!
When you can withdraw, deposit and trade your KBC coins
Please don’t be alarmed! After you’ve completed your KCB to KBC transaction, you won’t see your KBC balance updated in your Karatbit Dashboard until January 4, 2020.
But you will see that your KCB balance went down.
If you want to check your transaction and its status:
In your ‘Dashboard’ go to ‘KCB Conversions’ tab.
You will see all KCB conversion transactions that you ever did, their status (which is Pending), and their completion date (which is January 4, 2020) (See Screenshot #5 below).
When January 4 comes your KBC balance will be updated. At this point you can withdraw, deposit and trade your KBC as you wish!
That’s it for exchanging KCB to KBC.
If you have any questions regarding the two hard fork options, scroll down to ‘Frequently Asked Questions’ in the hard fork options document.
If you cannot find your answer, let me know below, and I’ll get an answer for you 🙂