How to trade cryptocurrency:
We have our bitcoin on the exchange now and want to buy some other cryptocurrency. I am going to buy some CCN so let's look at the steps to do that. We need to see the CCN market and the quickest way to do that is to use the Search box. Type CCN into the Search field.
This site has auto search so as soon as you type the letters you will go to what you were searching for. This is the CCN wallet. Click on blue CCN letters beneath SYMBOL and it will take you to the CCN market.
Now you can see the BTC/CCN market. It is showing the market graph which displays information about the price history and volume of trades for this cryptocurrency. If you can't see it already scroll down to see where to place buy/sell orders.
This is where you buy and sell CCN. You can buy CCN with BTC and you can sell CCN for BTC. You can see information about the current price of CCN by looking at LAST, BID and ASK.
- LAST shows the last price at which CCN traded
- BID shows the current open offer to buy CCN
- ASK shows the current price that someone is willing to sell CCN for
This is the ORDER BOOK. It shows the size (amount of CCN) and price per CCN for all the current buy/sell orders in this market. We want to buy 15 CCN at 0.00004100 but if we look at that ASK price we can see there are only 4.2 CCN available. If we executed our order it would partially fill and it would then be considered an "open" order. Our buy order would just sit there until someone put another 10.8 CCN up for sale at 0.00004100. All the orders shown in the Order Book are open orders. The orders at the top of each list are the current Bid and Ask price. Go to next screen.
If we want to buy 15 CCN right now we have to look at how far up in price we need to go. If we bought all three of 4.2 orders that would get us to 12.6 CCN. We still need 2.4 CCN. In order to buy 15 CCN right now we would place our order with a bid of 0.00005997 BTC. If we did that we would buy the first 3 4.2 orders and then 2.4 CCN from the first order of 12. Let's do that.
Enter 15 in the Units field. Enter 0.00005997 in the Bid field. Leave Order type as Limit and Time in Force as Good 'til Cancelled. Your total cost will be shown with the 0.25% exchange fee. Click Buy CannaCoin.
A confirm dialog pops up. Review your order to make sure it is correct and then click Confirm.
The order has executed and a small pop shows up at the bottom of the screen. Notice that now we have 15 CCN Available to Sell. If you wished to set up a sell order you would enter the Units you wished to sell and the Ask price. Once again you would check the order book to see how much CCN someone is interested in buying and at what price. You could then decide if you wanted an open order or one that trades immediately. This guide has shown the very basics of buy/sell orders. Follow this link to learn about withdrawing.