Preparing for the Market
In order for you to use the market, there must be a way to communicate with other participants. The Market Client provides two methods of doing this: Bitmessage or Email.
Bitmessage is used to post offers to the market, and has to be enabled if you want to trade. It is the safest option, and also provides total anonymity, but can be slow at times. Email is faster, but not as safe because it depends on the servers of your email provider.
We recommend you enable both unless you have a reason to not do so. You can create an email address that you only use for the Bitbay Market if you like. You also need email enabled if you want to use Pay to Mail.
To enable Bitmessage you only have to tick off the box. Your address will be generated by the software.
For more information about Bitmessage head to the geek section
The Client allows for users to add a typical, standard email address (gmail, hotmail, outlook, AOL, and mail.com), however some email providers are not yet compatible but will be added on future updates. This is a faster way for communication purposes and less risk of loss of correspondence. For example, if you or your counterparties computer losses internet connection while in contract negotiation via bitmessage you could potentially lose that correspondence as bitmessage has no server to backup the information. With a standard email address incorporated into your client, we can bypass this risk. In summary, the bitmessage network is necessary to protect the contract, marketplace, and the transactions between contracts, while standard emails can be utilized to simplify negotiation correspondence.
To add your email address into your Bitbay Halo Client:
- Simply click on the “Receive BitBay” tab at the top left of the client window.
- In this window template you will see blank field where you can enter your email address. Do so and then click on the “Add/Change” box.
- Again, currently there are only a few email providers that are compatible with the client but more will be added on upcoming updates. The providers are listed in the clients “Receive Bitbay” tab’s “?” box.
- The client will ask you to enter your password.
- This is the password that you use to log-in to your email account – not your bitbay private key passwords!
- The client will then let you know if it was able to sync with your email address. A window will pop up stating, “Authentication Success! However, please check your inbox and see if the test message arrives before giving out your Email for contracts and payments.”
- Do so and check to see if you’ve received an email sent from “me” with a title “NightTrader – test”. If you see this email in your inbox the syncronization is complete.
- Note: If you have two factor authentication (2FA) enabled on gmail you will get an error. To fix this issue click on your google account’s picture icon in gmail.com – this will open up another window where you will click on the “My Account” icon.
- This loads up your account settings page. On this page find and click on the “Connected apps and sites” setting found below the “Sign In and Security” menu.
- This loads up a page that allows you to change your “Allow less secure apps:” setting. Turn this setting to “ON”
- You will be given a password to use in your client. Copypaste this to the Bay client.
- Now your gmail address should sync up with the client.
- For extra security we recommend having the “Enable Encrypted Email” feauture turned on.
Note: If you decide to change your email address in the future. It’s highly recommended that you wait until all open contracts with counterparties are completed as they might not be able to contact you.
Congratulations, your email address is synced up with the client.