Qortal Project

The future of blockchain platforms

User Tools

Site Tools


Sidebar

Qortal Project Wiki

Important Notices

Introduction

Project Model

Minting

Communications

Trade Portal

Qortal Hosting (QDN)

Voting System

AT System

Hardware

Frequently Asked Questions (FAQ)

How-To Guides

Node Setup Guides

Third-Party Services

how_to_use_the_trade_portal

This is an old revision of the document!


How To Use The Trade Portal

Trading For QORT Walkthrough

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. The example below is for using Coinbase to obtain LTC, then send to your Qortal wallet, then trade LTC for QORT using Qortal's Trade Portal.

Step 1: Buy Litecoin

1. First you need to make sure your Qortal core is installed correctly, and up and running, fully synced.

2. Next, you’ll need to go to a third-party exchange like Coinbase https://www.coinbase.com to buy some Litecoin (abbreviation LTC) with your ‘fiat’ currency such as USD.

3. On Coinbase, once you’ve purchased your Litecoin, go to SEND/RECEIVE and fill in the address of your Qortal Litecoin wallet. You’ll find this within the Qortal User Interface (Qortal UI).

Please note: your addresses for QORT, LTC, DOGE, BTC & other coins we will support are different addresses. The Litecoin address that Coinbase is asking for (long string of letters/numbers) will be found in the Qortal UI, by clicking on WALLET in the menu at left. Then click on LITECOIN. At the top of the page it says CURRENT WALLET, and the address is directly underneath. Copy the address, and go back to Coinbase, and fill in your Litecoin wallet address. Then send.

Step 2: Trade Litecoin or another supported coin for QORT

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.

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.

Take a look through the offerings and choose one that’s selling an amount of QORT that you want, for a price you want to pay. Click on that offering.

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.

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. And that’s it! 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!

how_to_use_the_trade_portal.1668599332.txt.gz · Last modified: 11/16/2022 06:48 by gfactor