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how_to_use_the_trade_portal [11/16/2022 08:02] – [Trading QORT For Other Coins] gfactor | how_to_use_the_trade_portal [04/22/2023 16:12] (current) – [How to use Auto Buy] 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, |
+ | |||
+ | **Step 1: Buy BTC, LTC, DOGE, RVN, DGB, or ARRR** | ||
1. First you need to make sure your Qortal core is installed correctly, and up and running, fully synced. | 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:// | + | 2. Next, you’ll need to go to a third party exchange like Coinbase https:// |
- | + | ||
- | 3. On Coinbase, once you’ve purchased your Litecoin, go to SEND/ | + | |
- | + | ||
- | **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/ | + | |
+ | 3. Once you’ve purchased your LTC, find the feature to SEND/ | ||
- | **Step 2: Trade Litecoin or another supported | + | 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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- | 1. We will use LTC in this example, same process applies for all. Once your Litecoin | + | \\ |
- | + | {{:: | |
- | 2. Click on TRADE PORTAL in the menu at left. At the top you’ll see a box marked | + | {{:: |
+ | {{:: | ||
+ | {{:: | ||
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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 | ||
+ | \\ | ||
+ | \\ | ||
+ | 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 | ||
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+ | {{:: | ||
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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. | + | {{:: |
+ | |||
+ | 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. | ||
+ | |||
+ | 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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{{:: | {{:: | ||
- | 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 below, 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' | + | 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 below, 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' |
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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 ' |
{{:: | {{:: | ||
- | ===== 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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+ | {{:: | ||
+ | {{:: | ||
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+ | ===== How To Use 'Auto Buy' | ||
+ | |||
+ | * Auto Buy is a tool which allows you to automatically buy a series of QORT sell orders. Rather than having to manually select and execute each trade, which can take time to complete, Auto Buy lets you specify the total amount of QORT, and the HIGHEST PRICE you would like to pay in the ' | ||
+ | * Log into the Qortal UI | ||
+ | * From the left side menu, click on **Trading** and select **Auto Buy** | ||
+ | * In the **Select Trading Pair** drop-down at the top, select the pair you want to trade | ||
+ | * The rest of the page will display the current sell orders under **Market Open Sell Orders**, your Trade History under **My Buy History**, and the currently active Auto Buy orders under **Active Auto Buy Orders** | ||
+ | * Click on **ADD AUTO BUY ORDER** at the bottom of the page | ||
+ | * A pop-up will be displayed (Confirm that the coin you want to sell is listed at the top) | ||
+ | * Enter the amount of QORT you want to buy in the **Amount (QORT)** field | ||
+ | * Enter the maximum price you are willing to pay per QORT in the **Price Each** field | ||
+ | * Click on **ADD AUTO BUY ORDER** to initiate the Auto Buy | ||
+ | * Note that each buy order will take some time to complete because this is a peer-to-peer action including multiple transactions on both blockchains, | ||
+ | * Note that Auto Buy is likely to never ' |