This article will give you a walkthrough on how to place a buy order on the Exchange Trading menu. The screenshots have been labeled with numbers as reference.
First, go to the Exchange trading menu and select the currency pair you would like to trade(1). In this example, Bitcoin will be traded for Ethereum so select ETH/BTC(2).
Before the buy order is placed, it might be helpful to see what is happening in the market. One way to do this is to look at the Order Book and see what other orders are currently waiting to be filled. In this example, there is a sell order which the BTC price asked is 0.0345 BTC(9) and the ETH amount to sell is 0.85347079 ETH(10).
To place the buy order, you need to go to the Buy and Sell section and click on Buy ETH.
Here there is two options: to buy at the market price or create a limited buy order.
If you choose to buy at the Market price, you must pay attention to the latest orders in the order book.
Note that the "bid price" field is unalterable, as it maintains the current market price according to the order book. In this example, for the requested amount (1 ETH), the asked price would be 0.0346 BTC.
If you choose to create a Limit buy order, note that the "Bid Price" field can now be edited, that is, you can choose how much BTC you want to spend for each ETH that you are buying.
In this scenario, the Bid price chosen was 0.03 BTC, for 1 ETH.
When creating a limited order, please also note that you will be able to see the total amount in USD (or AUD for Dacxi Australia).
Now that the amount of ETH and bid price have been entered, you can see how much BTC will be remaining in the BTC wallet after this trade has been completed.
Then, click "Buy ETH" and the order is sent off. If you included a Market order, note that the order matched with one already in the order book, so it went through instantly.
If you have opted for a Limit order, the order will be released to the order book and will remain pending execution.
You can see the status of your orders in the My Orders tab.
And that's it! Remember, crypto-asset transactions cannot be reversed once they have been completed. Please ensure you’ve entered the correct transaction details before placing any orders.
If you have any questions about this process or get stuck at any point and need a guide, submit a request and one of our support staff will help you out.