Getting started
Introduction to Binkabi
Binkabi is a platform for issuing, trading and financing commodities on the blockchain. We are transforming agriculture commodity supply chain in emerging markets for the benefits of farmers, SMEs and other actors.

Our platform empowers farmers, aggregators and SMEs to sell in a more direct way and to obtain finance based on warehouse receipts and contracts. For buyers, quality and quantity are assured by depositing commodities at accredited warehouses/exchanges. For sellers, payment is assured by depositing/ obtaining finance at partner banks.

Comparing to other blockchain companies in the commodity trading and finance space, Binkabi offers an end-to-end solution for the entire trading process from sourcing to settlement and focuses on creating new opportunities in emerging markets.

Our platform is live.
Getting started
How it works
Tokenize Commodities
  • Depositor brings grains to Accredited Warehouse
  • Warehouse weighs, grades and packs grains
  • Warehouse receipts (commodity -backed tokens) are issued to Depositor
Trade on Blockchain
  • Sellers and Buyers post orders on Binkabi platform
  • Platform matches orders
  • Atomic swap of commodity-backed tokens for fiat-backed tokens
Redeem Commodities
  • Holder sends Redemption Request to Warehouse
  • Accredited Warehouse redeems commodities
  • Warehouse receipts cease to exist (commodity-backed tokens burnt)
Getting started
Before you start
Create a cryptographic wallet
Why?

Binkabi is a blockchain-based platform which requires each user to open their own cryptographic wallet and keep their private key safe.

Cryptographic wallet is where you keep all your digital assets like commodities and Naira on the blockchain.
What is private key
When you open a cryptographic wallet you will have a wallet address and a private key (as represented by more memorable seed phrase)

If we compare crypto wallet and email box then:

  • Wallet address is like your email address
  • Private key is like your password to get to email box

    How to create a cryptographic wallet?
    There are a lot of services but here we recommend the easiest one:

    1. Open your Chrome browser (if you don't have Chrome browser then you first need to install it here https://www.google.com/chrome/

    2. Install Metamask extension here https://metamask.io/

    3. Follow the steps, you will be asked to create a password to enter metamask wallet and note down you seed phrase.

    You are ready to go!
          What computer should you install it on?

          Each user should designate a computer to work with Binkabi platform. This is where your wallet will be stored. Note that if you create a wallet on another device then it will be a different wallet. So use the same computer every time (unless you import an existing wallet - more on that later).
          What other things I need to do?
          After you open a cryptographic wallet you need to have some ether balance (it is the currency in the Ethereum network, which Binkabi is run on) to pay for transaction fee when signing for transactions.

          Each user should have their bank account in test environment. We would like you to test with your test money first before using the real one.

          Once you have both cryptographic wallet and bank account we will run a session to help you register on our platform before testing transactions. You could also watch Binkabi tutorial videos to get you started.
          Getting started
          Register a new account
          Trading
          Make a sell/buy order
          Trading
          Make a bid/offer
          Trading
          Trade execution