How to Buy Counterparty Crypto (XCP)

What is Counterparty (XCP)?

According to Coingecko, Counterparty is : Counterparty is a platform for user-created assets on <a href="https://www.coingecko.com/en/coins/bitcoin">Bitcoin</a>. It’s a protocol, set of specifications, and an API. Taken together, it allows users to create and trade assets on top of Bitcoin’s blockchain. In this way, Counterparty is similar to platforms like <a href="https://www.coingecko.com/en/coins/waves">Waves</a> or <a href="https://www.coingecko.com/en/coins/ethereum">Ethereum</a>. Of course, the difference is Counterparty integrates directly with Bitcoin. Therefore, it comes will all the security and reliability (and issues) that are part of the Bitcoin blockchain. This is a fairly old project. In fact, it pre-dates Ethereum with its launch in 2014. It was the original asset creation mechanism. As you’re probably aware, Counterparty has faded from prominence over the years. This is largely due to the rise of the ERC-20 token standard on Ethereum. While we’ve become used to calling blockchain assets, tokens, it doesn’t necessarily have to be the case. An asset can represent anything that has value or is rare. As a result, Counterparty steers clear of the word “token” in their marketing and documentation. They’re much more interested in digital assets of all kinds, not just currencies, securities, and utility tokens. Digital assets can be a digital marker of a physical object, an easy way to manage shares in your company, or reputation karma for a website. These are all types of assets you could create on Counterparty (or Ethereum or Waves, for that matter). Counterparty creates the set of rules, requirements, integrations, etc that are necessary for assets on the Bitcoin blockchain. It’s the infrastructure behind user-created assets in much the same way that the ERC-20 protocol sets up guidelines and standards for asset creation on Ethereum. One useful function of digital assets is as a marker of ownership or voting rights. Imagine a scenario where you issued a digital asset to each of your company’s board members in proportion to the amount of voting power held. Or if you gave your stockholders a digital asset as a marker of the amount of stock they owned. If you issued your stock asset, you could then use Counterparty’s distribution function to pay out dividends in BTC based on the amount of digital stock asset each person owned. Counterparty addresses many of the same issues as Ethereum or Waves, but on the Bitcoin blockchain. While that does come with some advantages, ultimately it is not as strong a platform for development as its competitors. It’s best suited for applications that need to interface with Bitcoin or assets that have a specific connection to the Bitcoin ecosystem.

Where can I buy XCP Crypto?

The best website to buy Counterparty is Simpleswap.

With Simpleswap you can buy almost every reputable token without needing to register or providing proof of identity. The process is incredibly simple and quick.

How to Buy Counterparty on Simpleswap

To buy Counterparty on Simpleswap, first you need to click here to access the Simpleswap App. Now, click the "Buy Crypto" tab, select your fiat currency, and then select XCP, just like in this example:

Once you selected the currency you want to pay in, and XCP, you need to paste your respective wallet address where you want to receive your XCP.

With Simpleswap, you'll receive your Counterparty directly on your on-chain wallet without need to deposit and withdraw like in every other exchange.

You can now choose between Google Pay or card to complete the payment:

Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in your wallet.

Please make sure you read our Disclaimer. We are not financial advisors.