FAQ | Orderbook | Client

1. What is Orderbook and what are the differences between Orderbook and wallets / stock exchanges?

There are 2 differences between Orderbook and wallets / stock exchanges:

• Wallet is an interface where you can store only one currency. Orderbook is an interface which allows to have different currencies on one address and use them for trading.
• When you use exchanges all money is stored in its pull. Orderbook doesn’t save money in its pull. All money is stored on user contract, which is assigned to user upon sign up at Orderbook.

Orderbook is a solution based on Smart contracts. When user wants to perform a trading operation, his user contract sends the transaction with money-tokens to the smart contract for purchasing tokens. It is executed on the blockchain. Orderbook is the interface for user convenience in operations.

2. What personal information does Orderbook collect?

Orderbook collects Identifiable information such as name, email address, phone number, and all information required during registration. Upon registration at Orderbook.io, users are prompted for the following information: name (first and last), email address, and a password that user creates for login purposes. Orderbook.io uses this information as two-factor authentication by sending an activation code for the usage of Orderbook.io.

3. What can I do if I have lost my password?

In order for Tokens to remain safe, we encourage investors to add their phone number. If access to account is lost, there is an option to change the account password. Please make sure to include and confirm your phone number in the Settings to be eligible for password reset.

4. How can I recover my password in Orderbook?

Use following guide about recovering password at Orderbook. https://www.orderbook.io/#/recovery

5. What is user’s Private Key Backup?

At Orderbook, every password action is browser-based. The user's private key is decrypted only in the browser and is never transferred to Orderbook’s server unencrypted. None of the exchange operators have any access to users’ keys or funds. Each user account is implemented as a smart contract and has unique functionality -- reassign user contract to user’s new account in case of password loss. User’s deposit address never changes and so user’s tokens always stay at one place. Orderbook, as part of the signup process, sends an email to user with his private key backup. If user is in need of restoring key, Orderbook will provide instructions for its encrypted wallet container, and user can check the offline wallet backup documentation and follow the instructions to restore keys.

6. I’ve got a Backup of the Private Key via email? Is it secure?

Backup of the Private Key is stored in encrypted form and demands to know user account’s password for decryption.

7. Why is my transaction out of gas?

Gas is the name for a special unit used in Ethereum. It measures how much "work" an action or set of actions takes to perform. Every operation that can be performed by a transaction or contract on the Ethereum platform costs a certain number of gas, with operations that require more computational resources costing more gas than operations that require few computational resources. The reason gas is important is that it helps to ensure an appropriate fee is being paid by transactions submitted to the network. By requiring that a transaction pay for each operation it performs (or causes a contract to perform), we ensure that network doesn't become bogged down with performing a lot of intensive work that isn't valuable to anyone. As we use smart contracts for keeping user’s finds we advise to use a gas limit of 25 000 and a gas price of 22 Gwei.

8. My deposit doesn’t convert into tokens. What should I do?

1. Open a website of the ICO where you have contributed.
2. Click Login (login with your Orderbook credentials) on the widget in the middle of the screen.
3. Click Contribute
4. Click ETHEREUM or BITCOIN depending on what you’ve contributed with.
5. Type in amount of ETH/BTC you deposited previously.
6. Click Proceed. You don’t need to send more funds.
7. Wait for couple minutes.

We recommend using Google Chrome for better performance.

9. I lost my password and did not attached a phone number to my account. Am I able to recover password?

Unfortunately, we are not able to help you in this case. Please, pay attention to this. Orderbook is working with process of recovering password, which implies adding the phone number.  To understand better how the recovery process goes on, please, follow this link - https://www.orderbook.io/#/recovery

10. I can’t withdraw tokens I’ve bought during the ICO. Why?

The Terms of the most of ICOs state that operations with your tokens can be performed after the end of the ICO. Till that time, tokens are safely stored on user’s contract and accessible with orderbook.io

11. My transaction ran out of gas. What does it mean?

It hasn’t been processed. Ethereum fees according to your gas price were consumed by Ethereum blockchain. The amount of currency that was meant to be sent returns back to sender’s wallet.

12. I get server errors\frozen windows\website doesn’t do what it supposed to do.

Сonsider using Chrome’s Incognito mode. If it doesn’t solve a problem, contact our support team.

13. How can I make a purchase in cryptocurrency?

To make a purchase in cryptocurrency, you must be logged in on Orderbook. Choose the market and create a buy order. For this purpose set amount of tokens you will buy and the price. Choose Buy tab and click the button Submit.

After that you will see buy order with status Pending.

In case you change your mind, you can Cancel your order by clicking on a cross in the Status column when the status will be Open. The status of the order will change accordingly.

Please note, BTC, ETH and currencies provided by shapeshift  are accepted at https://www.orderbook.io/#/ and as such will have a processing fee associated with them, included in the total.

To make a purchase at widget you should sign up / log in, choose the currency, invest amount money to contribute, proceed to payment. Then, you need just keep the widget open, money will convert in some time.

We are actually working on this. Now there are three transactions must be done before you finish the process. But later, there will be only two transactions in some time, and then we will develop invoice payments to be done in one transaction.

14. Where and how tokens are stored?

If you buy tokens with widget all your tokens will be available at Orderbook and stored on your user contract linked to your orderbook account. To get an access to your tokens, please use your account login and password at orderbook.io

15. Can I invest from any country in the world?

Orderbook is open for everyone, however some markets are closed to selected countries due to legal compliance.

In order to deposit funds into orderbook.io account you can use any wallet that supports either manual settings of gas price / gas limit, or have substantial values of these parameters, to guarantee that deposit transaction will succeed.

16. Is it secure to use private key container?

Private key is encrypted by the password and can’t be decrypted without it. If the attackers know your password, they will not be able to withdraw your money without confirmation that is sent by email.

17. What do I have to do with private key backup?

Keep it safe. It is needed in case emergency occurs, for example if the website will cease to exist. If you save backup information, you will be able to recover your money.

18. I’ve copied address for deposit to clipboard. What I have to do the next?

You should insert it into the sending field in the wallet from which you will make deposit.

19. Your encryption looks different than the standard information about the secret key. Why is this necessary?

We encrypt private key on user side and then store it at our server. We never actually see private key decrypted and that’s why you receive it like this.

20. I haven’t got an email with Backup of the Private Key. How do I request a resending of the email?

Contact our support team.

21. How do I know on what stage of process is my transaction currently at?

You can check your transaction hash at etherscan.io or other blockchain scanning tools.

22. How does Orderbook operate with asset I’ve deposited?

As Orderbook operates on Ethereum blockchain he can only manipulate ERC20 tokens. Therefore, any other tokens such as Bitcoin are converted into corresponding ERC20 tokens of an equivalent amount, i.e OBTC. When user withdraws currency, Erc20 tokens convert back to the currency, then Orderbook sends user’s currency to a specified address. In case of operations with actual Erc20 tokens, no exchange needed.

However, most of the tokens sold during ICOs or tokensales are already ERC20 tokens and therefore conversion doesn’t apply to them.