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how_to_use_the_trade_portal [11/16/2022 08:01] – gfactor | how_to_use_the_trade_portal [04/19/2023 00:06] – [Trading QORT For Other Coins] gfactor | ||
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* The Trade Portal is designed only for direct trades with QORT. Meaning the Trade Portal has not yet been developed to allow third party coins to trade between another third party coin directly (BTC-LTC trade directly for example). The way this can be achieved currently, is QORT as the 'base pair' (BTC-QORT-LTC). | * The Trade Portal is designed only for direct trades with QORT. Meaning the Trade Portal has not yet been developed to allow third party coins to trade between another third party coin directly (BTC-LTC trade directly for example). The way this can be achieved currently, is QORT as the 'base pair' (BTC-QORT-LTC). | ||
* At the present time, you cannot partially buy an order within the Trade Portal. For example, if a seller has listed 100 QORT for x amount of LTC, you must have the enter x amount of LTC and you will be buying the entire 100 QORT in that listing. | * At the present time, you cannot partially buy an order within the Trade Portal. For example, if a seller has listed 100 QORT for x amount of LTC, you must have the enter x amount of LTC and you will be buying the entire 100 QORT in that listing. | ||
- | * There are plans to also have 'buy orders' | + | * There are plans to also have 'buy orders' |
===== Trading Other Coins For QORT ===== | ===== Trading Other Coins For QORT ===== | ||
- | This walkthrough will show the general process for sending coin to your Qortal wallet, to then be able to utilize the Trade Portal to obtain QORT. In this case, you are the BUYER who will be selecting a 'sell order' from a SELLER. The example below is for using Coinbase | + | This walkthrough will show the general process for sending coin to your Qortal wallet, to then be able to utilize the Trade Portal to obtain QORT. In this case, you are the BUYER who will be selecting a 'sell order' from a SELLER. The written |
- | **Step 1: Buy Litecoin** | + | Some exchanges like Coinbase require proof of identity to be in compliance with KYC/AML regulations, |
- | 1. First you need to make sure your Qortal core is installed correctly, and up and running, fully synced. | + | **Step |
- | 2. Next, you’ll need to go to a third-party exchange like Coinbase https:// | + | 1. First you need to make sure your Qortal core is installed correctly, and up and running, fully synced. |
- | 3. On Coinbase, once you’ve purchased your Litecoin, | + | 2. Next, you’ll need to go to a third party exchange like Coinbase https://www.coinbase.com or TradeOgre https:// |
- | **Please note:** your addresses for QORT, LTC, DOGE, BTC & other coins we will support are different addresses. The Litecoin | + | 3. Once you’ve purchased your LTC, find the feature to SEND/ |
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- | **Step 2: Trade Litecoin or another supported coin for QORT** | + | |
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- | 1. We will use LTC in this example, same process applies for all. Once your Litecoin shows up in your Qortal Litecoin wallet, you’re ready to trade it for some QORT. For a full explanation of what actually takes place during a trade, see [[Trade Portal Overview]] and [[How The Trade Portal Works]] | + | |
- | + | ||
- | 2. Click on TRADE PORTAL in the menu at left. At the top you’ll see a box marked SELECT YOUR COIN. Choose LTC. | + | |
+ | Below are 4 screenshots of wallets for QORT, BTC, LTC, and ARRR to show you how the address for each wallet you select is different: | ||
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+ | **Step 2: Trade your coin for QORT** | ||
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+ | 1. We will use ARRR in this example, same process applies for all. Once your ARRR shows up in your Qortal ARRR wallet, you’re ready to trade it for some QORT. For a full explanation of what actually takes place during a trade, see [[Trade Portal Overview]] and [[How The Trade Portal Works]]. | ||
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+ | 2. Click on TRADE PORTAL in the menu at left. At the top you’ll see a drop down option to SELECT YOUR COIN. Choose ARRR. | ||
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3. Now look in the box of OPEN MARKET SELL ORDERS. Here you’ll see the current sell orders listed by other QORT holders. **Please note:** there are no sell walls; you can purchase any listing in any order. Pay attention to the cost per QORT as these listings are totally up to the seller to set, and for you as the buyer to select. The second column, which shows the price being asked by the seller, can be configured to show the offerings with their prices listed from low to high, or from high to low. | 3. Now look in the box of OPEN MARKET SELL ORDERS. Here you’ll see the current sell orders listed by other QORT holders. **Please note:** there are no sell walls; you can purchase any listing in any order. Pay attention to the cost per QORT as these listings are totally up to the seller to set, and for you as the buyer to select. The second column, which shows the price being asked by the seller, can be configured to show the offerings with their prices listed from low to high, or from high to low. | ||
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The field in the lower right hand BUY/SELL box will automatically populate with the price and quantity of the chosen offering. Click the BUY button. | The field in the lower right hand BUY/SELL box will automatically populate with the price and quantity of the chosen offering. Click the BUY button. | ||
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4. Now you wait a bit, while the process completes. Meanwhile you’ll see your order listed in MY ORDERS (lower left), with the status of BUYING. | 4. Now you wait a bit, while the process completes. Meanwhile you’ll see your order listed in MY ORDERS (lower left), with the status of BUYING. | ||
- | FYI: Pages don’t refresh automatically to show updated status. Click away then come back in a few minutes, and you should see your completed trade listed in MY TRADE HISTORY, with the status of BOUGHT. | + | {{:: |
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+ | FYI: Pages don’t refresh automatically to show updated status. Click away then come back in a few minutes, and you should see your completed trade listed in MY TRADE HISTORY, with the status of BOUGHT. | ||
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+ | Congrats! You now own some QORT! Otherwise, the order may be refunded due to someone else making the purchase before you did, or the seller’s node failed to stay online. Remember, this is blockchain technology and truly decentralized peer to peer, so these refunds can happen as it takes time for each block to process the transactions. This is the nature of the system, and will be further improved with time! | ||
===== Trading QORT For Other Coins ===== | ===== Trading QORT For Other Coins ===== | ||
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If you'd like to trade your QORT for other coins in the Trade Portal, you will be the SELLER in this case. | If you'd like to trade your QORT for other coins in the Trade Portal, you will be the SELLER in this case. | ||
- | 1. Click on the market in which you are interested in trading your QORT for (such as LTC) | + | 1. Click on the market in which you are interested in trading your QORT for (such as LTC). |
{{:: | {{:: | ||
2. Scroll down to view the bottom right panel on the right side of the UI. It will be defaulted to the ' | 2. Scroll down to view the bottom right panel on the right side of the UI. It will be defaulted to the ' | ||
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3. Click the ' | 3. Click the ' | ||
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{{:: | {{:: | ||
- | 4. Enter the amount of QORT you're selling, then at what rate to the coin you're trading. | + | 4. Enter the amount of QORT you're selling, then at what rate to the coin you're trading. |
- | {{:: | + | |
- | As you see in the example above, we are selling 1 QORT, at an exchange rate of 0.01 LTC, which equals 0.01 LTC. Below those fields, we can see the total amount of QORT in this account' | + | {{:: |
5. Click the sell button. The trade will display on the left under the 'MY ORDERS' | 5. Click the sell button. The trade will display on the left under the 'MY ORDERS' | ||
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- | 6. Once the sell order has been successfully listed, the status will show as ' | + | 6. Once the sell order has been successfully listed, the status will show as ' |
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- | ===== Base Trades With QORT ===== | + | 7. To cancel the order, simply click the red ' |
- | (BTC-QORT-LTC) | + | |
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+ | 8. You will then see the 'MY ORDERS' | ||
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