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⚠️ Before sending, receiving, and trading crypto tokens, learn to make informed decisions. Crypto tokens are volatile, and the prices can go up and down. Carefully set your trading goals and assess the financial risk you are willing to take. Please be aware that WX Network does not provide financial, tax, or legal advice. You should make such decisions on your own or consult with reliable experts.
Just follow the step-by-step instructions below to start trading, and this video guide helps you with this.
Open your WX Network wallet and click Trading at the top menu. Then, choose a trading pair from the list or use Search field to find a trading pair by name or Token ID.
Using the "All", "Opened", "Low Fee" filters you can quickly find all available pairs, the pairs where you have opened orders or pairs with low trading fees. The such sub-filters as WAVES | BTC | USDT... helps you to find pairs with these tokens.
Tips: In order to add the selected pair to the favourite list, just click on the star icon.
Tips: you can sort the trading pairs in the list by daily price change or by trading volume. To do this, click on Change or on Volume.
Note: If you want to trade unverified tokens (the tokens which not marked as Community Verified) just activate Unverified mode on the exchange. The instruction about how to activate Unverified mode you can find in the following article - Trading modes
How to Buy Cryptocurrency
Choose a pair you want to work with and select Market order, Limit order, or Stop-Limit order at the bottom left corner of the order form (optional).
Note: a Market order is a request to execute a trade as quickly as possible at the current/market price. On the other hand, a Limit order sets the minimum or maximum price at which you are willing to buy or sell. The order gets executed once price level is triggered. Stop-Limit order differs from the Limit order in that it will be added to the orderbook when the price in the pair reaches the level specified during the Stop-Limit order's creation.
Note: market orders can only be created in the following trading pairs: WAVES/BTC, WAVES/XTN, BTC/XTN, ETH/WAVES. Market order creation is available only in accounts associated with the Seed phrase.
Fill the fields of the order form:
In the Price enter the desired price of the currency. Note: By default, the Price sets with the nearest market price;
In the Amount enter the amount of currency you want to buy;
In the Total review the total amount of the order;
In the Stop, specify the price that needs to be reached so that the order is included in the orderbook. (only for Stop-limit orders);
In the Transaction Fee select the type of currency to pay the trading fee.
After filling out the form click Buy. The order sum and trading fee will be frozen for the order execution time. If the order is not executed and then canceled, tokens will be unfrozen.
The order execution time is 29 days. After the expiration of the selected period, the order will be forcibly canceled.
Note: there are 2 types of fees available on the exchange:
A percentage fee for the most liquid token pairs. It will be 0.1% of the exchange transaction's amount, but no lower than the equivalent of 0.01 WAVES. The percentage fee is charged in the spending token.
A fixed fee of 0.01 WAVES for other pairs.
In some trading pairs, fees may be higher or lower than stated; for example, pairs of Low Fee tab.
By the way, percentage fee may be different for buy and sell orders even in the same trading pair.
The placed order will appear in the Open Orders tab and in the OrderBook. All executed orders are available in the Trade History tab:
You can cancel your open order by clicking Cancel in the Open Orders tab.
How to Sell Cryptocurrency
Choose a pair you want to work with and select Market order or Limit order at the bottom left corner of the order form.
Note: a Market order is a request to execute a trade as quickly as possible at the current/market price. On the other hand, a limit order sets the minimum or maximum price at which you are willing to buy or sell. The order gets executed once price level is triggered.
Note: market orders can only be created in the following trading pairs: WAVES/BTC, WAVES/XTN, BTC/XTN, ETH/WAVES. Market order creation is available only in accounts associated with the Seed phrase.
Fill the fields of the order form:
In the Price enter the desired price of the currency. Note: By default, the Price sets with the nearest market price;
In the Amount enter the amount of currency you want to sell;
In the Total review the total amount of the order;
In the Stop, specify the price that needs to be reached so that the order is included in the orderbook. (only for Stop-limit orders);
In the Transaction Fee select the type of currency to pay the trading fee.
After filling out the form click Sell. The order sum and trading fee will be frozen for the order execution time. If the order is not executed and then canceled, tokens will be unfrozen.
The order execution time is 29 days. After the expiration of the selected period, the order will be forcibly canceled.
Note: there are 2 types of fees available on the exchange:
A percentage fee for the most liquid token pairs. It will be 0.1% of the exchange transaction's amount, but no lower than the equivalent of 0.01 WAVES. The percentage fee is charged in the spending token.
A fixed fee of 0.01 WAVES for other pairs.
In some trading pairs, fees may be higher or lower than stated; for example, pairs of Low Fee tab.
By the way, percentage fee may be different for buy and sell orders even in the same trading pair.
The placed order will appear in the Open Orders tab and in the OrderBook. All executed orders are available in the Trade History tab:
You can cancel your open order by clicking Cancel in the Open Orders tab.
Trading cashback
To stimulate trading activity on the exchange, the WX Network team has launched a Trading cashback program. Under this program, a trader can get back a part of the trading commission he paid. The cashback amount depends on trading volumes and staked WX tokens. Cashback is paid in WX tokens. Cashback is calculated and paid out as follows:
- within a month, the trading activity of each user is analyzed,
- if the user's monthly trading volume reaches a certain value (see the table below), then he is considered a participant in the program,
- the value (in USD) of trading fees he paid is calculated and converted into WX, according to the WX price,
- then the amount of cashback is determined; it depends on the trading volume and the number of staked WX,
- the trader can claim the accrued reward in the My Rewards tab.
Let’s see how the proposed scheme is going to work, using an example.
Say, Jack’s trading volume in January amounted to $520,000, and an equivalent of $500 was spent on paying trading fees. Jack can count on a cashback from his trading fees in the amount of 10% and if 1 WX = $0.5, the cashback will be 100 WX. But at the same time, Jack is an active WX staker and has 1,000 gWX. It means that he will receive an additional reward of 200 WX. In total, he gets back 30% of the fees he paid, although he could get more if he had more gWX on his balance.
Troubleshooting:
- If you cannot find the necessary token, enable the Unverified mode.
- If your order was executed but tokens are not credited to the account balance, please make sure that the order was fulfilled fully. Check the active orders via the Open Orders tab.
Feel free to contact us anytime if you still have any questions WX Network related.
tags*: trade trading exchange market limit order buy sell cryptocurrency newbie