Highlighted topics:
Note: Due to App Store restrictions, starting with version 1.6.1, the WX Network application no longer supports spot trading.
Before sending, receiving and trading crypto assets, educate yourself to make informed decisions. Crypto assets are volatile, and the prices can go up and down. Carefully evaluate your trading goals and the financial risk you are willing to take. Please beware that WX Network does not provide financial, tax, or legal advice. You should make such decisions on your own or consult with reliable experts.
Install the latest version of WX Network:
Open the installed app, log in to your account, and tap on the Market icon. Then, choose a trading pair from the list above or use Search bar 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 favorite list, just click on the star icon.
Tips: You can subscribe to push notifications when the price in a pair reaches a certain value. To do this, click on the Bell icon in the upper right corner of the Market tab, then click Plus icon in the upper right corner, select a trading pair and enter the price value or percentage change of price.
Note: if you cannot find the asset by name or ID, perhaps, the asset is not verified by WX Network. In this case, you need to enable Unverified mode and try to find it one more time.
How to Buy Cryptocurrency
Select a pair you want to work with and tap Buy.
Fill in the order form.
- In the Order type area select Market order, Limit order or Stop-Limit order.
- In the Amount box, enter the amount of currency you want to buy;
- In the Price box, enter the price of the currency
- 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 Total box, check the total amount of the order.
After filling in the form, tap 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: 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.
Note: If you have selected Limit order in the Order type area, you can tap Bid if you want to place buy order, tap Ask if you want to buy from the sell orders or tap Last if you want to buy by the market price;
Note: By default, the Limit price sets with the nearest market price.
Note: here 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 asset.
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.
All placed, executed or canceled orders can be viewed on the Order History tab.
The Open Orders tab displays only currently active orders.
Note: You can cancel an open order. To do this, click on "X" in the list of the required order and in the right part of the order. If you want to cancel all open orders, click on the Cancel All button
How to Sell Cryptoсurrency
Select a pair you want to work with and tap SELL.
Fill in the order form.
- In the Order type area select Market order, Limit order or Stop-Limit order.
- In the Amount box, enter the amount of currency you want to sell or tap 10%, 50% or MAX;
- In the Price box, enter the price of the currency;
- 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 Total box, check the total amount of the order.
After filling in the form, tap 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: 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.
Note: If you have selected Limit order in the Order type area, you can tap Bid if you want to place buy order, tap Ask if you want to buy from the sell orders or tap Last if you want to buy by the market price;
Note: By default, the Limit price sets with the nearest market price.
Note: here 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 asset.
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.
All placed, executed or canceled orders can be viewed on the Order History tab.
The Open Orders tab displays only currently active orders.
Note: You can cancel an open order. To do this, click on "X" in the list of the required order and in the right part of the order. If you want to cancel all open orders, click on the Cancel All button
How to cancel an order
To cancel an order, navigate to the Trade tab, in this tab you can see your open orders.
Then switch to the Open Orders tab, find the order you want to cancel. After that, tap on the "X" button and confirm the cancelation.
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.
How to enable Unverified mode
The WX.Network cares about the safety of our users. Therefore there are two modes of asset trading: Unverified mode and Verified Mode.
The Verified Mode is activated on the WX.Network by default. To switch from Verified mode to Unverified mode, you need to go to the Market tab and click on the Verified button in the top right corner of the tab.
After that, you must carefully read all the information in the appeared window, and if you agree to take the risk by trading unverified assets, type "Agree" and click on the "Continue" button.
Note: If at least one of the assets in a trading pair is unverified, then such a trading pair is marked with a yellow triangle with an exclamation mark. WX Network is not responsible for the unverified assets, for their issuers, and for their values. By trading in a pair with an unverified asset, you take all the risks on yourself.
If both assets are verified in a pair, then such a trading pair is marked with a blue asterisk with a checkmark.
If you have any questions related to WX Network, feel free to contact us via customer support.
tags: mobile trading exchange market limit order buy sell cryptocurrency tokens coins newbie