The Coinffeine desktop application allows you to control your own account at a bank or payment processor via API, so that you can buy and sell bitcoin. We have so far developed the integration with one payments processor, Advanced Cash.
You will need an account at Advanced Cash in order to buy and sell bitcoin with Coinffeine. We are grateful for all accounts opened using our referral code here: Advanced Cash.
It is important to note that un-verified accounts have some restrictions in regards to funding, transferring and withdrawing, which may impact your trading with Coinffeine. Please refer to the “Dealing with FIAT currency” and “Trading bitcoin” sections of our FAQ for more information on this.
Once you have an Advanced Cash account, you will need to generate an API in order to connect it to Coinffeine. To do so, follow these steps:
Congratulations! You have successfully generated your API token with Advanced Cash and you are ready to install and configure Coinffeine.
Coinffeine supports Microsoft Windows, Mac OS X and GNU/Linux. Each operating system has its own installation method:
The first time you open Coinffeine, a setup wizard will help you configure all settings of the application. A window will pop up and ask you to:
Congratulations! You are now ready to use Coinffeine.
There are three relevant sections in the application:
This pane shows a table with all bitcoin bid (buy) or ask (sell) orders created by the user. The table is empty the first time the application is open, as no order has yet been created.
At the top bar it also displays the bitcoin price and it has the NEW ORDER button. The price shown will be that of the last transaction executed with Coinffeine.
You may submit orders by clicking in the NEW ORDER button in the top bar, which opens a window that will ask you whether yours is a bid or ask order. After clicking CONTINUE, you will be required to input:
* Do note that, in markets with low liquidity, placing market price orders may lead to prices significantly lower than the average market price for bitcoin, for sell orders, or significantly higher, in case of buy orders.
Once all requested information has been entered and you have pressed once again CONTINUE, you will be shown the summary of the order you are about to submit, and you will be given the option to either CANCEL or PLACE ORDER.
At this final point, if you do not have enough bitcoin to lock both the amount asked, in case you are selling, and the safety deposit, in every case, an alternative message will give you the option to buy the missing bitcoin from Advanced Cash and transfer it directly to your Coinffeine bitcoin wallet. You may refuse this option and click PLACE ORDER ANYWAY.
Once an order is placed, it will be listed under My Orders, which shows the following information:
An order may be matched with one or more fitting counterparts. Each of these matches initiates an exchange. The different exchanges for an order can be consulted in the lookup of the order, by clicking the SHOW EXCHANGES button, which will show a unique exchange ID and the progress for each exchange.
As exchanges are executed, the overall order progress will be shown across that order in the table, until the full quantity stated in the order is satisfied.
Please refer to the “Dealing with FIAT currency” and “Trading bitcoin” sections of our FAQ for more information on trade limits, costs associated to orders, matching rules and more.
This pane shows a graph with the outstanding aggregated volume of bitcoin at all prices, from all bid and ask orders of users currently online with Coinffeine.
This panel shows a table with all transactions of your bitcoin wallet embedded in the Coinffeine application. The table is empty the first time the application is open, unless you have funded your wallet through the setup wizard, in which case it will show only this transaction.
Once a transaction is made, it will be listed under Wallet Activity, which shows the following information:
At the top bar it also displays a QR code with your public bitcoin address, and three buttons: WALLET FUNDS, COPY ADDRESS and WITHDRAW.
Clicking on WALLET FUNDS will open a window that will show details of the funds in your Bitcoin wallet, stating:
Both the QR code and the COPY ADDRESS button, which will copy your public bitcoin address to the clipboard, are meant to help you fund your Coinffeine bitcoin wallet from another bitcoin wallet.
Clicking WITHDRAW will open a window that will ask for the amount of bitcoin you wish to withdraw, and for the destination address. Once a valid amount and a valid destination address is input, you will be shown the fee that will be paid to the bitcoin miners for this transaction, and the Send button will be enabled so that you can confirm your withdrawal. Do note that a valid amount is one that ensures that your available balance can cover both the amount you wish to withdraw and the miner fees necessary to confirm it, which are dynamically calculated by the application.
Once you instruct a withdrawal from your bitcoin account, this will be posted to the bitcoin blockchain and it will be irreversible. The transaction will show in your Wallet Activity so that you can keep track of its status.
You can uninstall Coinffeine just like you would uninstall any other application. This process, however, does not erase some application files that contain sensitive information, such as the application logs, your Advanced Cash API access information and your bitcoin wallet keys, which we suggest you delete manually once you are sure you can do without.
The route to find them is:
Be aware that if your wallet has funds and you have no backup of your private keys, erasing your wallet will result in losing your access to those funds permanently.
If you are experiencing any trouble with the application, please send us an email to email@example.com.