In currency exchange process, there is always one currency that is bought and one that is sold (the sold currency is used to purchase the bought currency).
On our Marketplace, sold currency is the one that you pay, bought currency is the one that you buy.
On our Exchange, bought and sold currencies are determined by two parameters in the order form:
- Type of order: Buy or Sell
- Which currency pair is selected
- We select Buy if we wish to purchase the base currency (the first currency in a pair) with the quote currency (the second currency in a pair);
- We select Sell if we wish to sell the base currency for the quote currency.
If you want to buy or sell the quote currency (the second currency in a pair), you have to think backwards. Since Buy button will actually sell the quote currency in exchange for the base currency (the first currency in a pair) and Sell button will buy the quote currency using the base currency.
If Buy button is selected and currency pair X/Y is selected, then currency X will be bought and currency Y sold.
If Sell button is selected and currency pair X/Y is selected, then currency X will be sold and currency Y bought.
For example, we want to Buy 0.01 BTC with EUR:
If we clicked on Buy BTC button, our order would be instantly placed in the Order book. Our order would be instantly fulfilled if someone wanted to sell 0.01 BTC for the same market price and at the same time. The buyer and the seller would get matched in the Order book and they would exchange the mentioned currencies.
On our Exchange, you can also place limit orders via Tradeview section of the desired currency pair.
Buying and selling with a limit is a function that allows you to buy and sell currencies under the pre-established parameters.
Your order will be placed in the Order book and will be filled after two parameters are met (both amount and price). Limit order gives you more freedom with the trading as you can buy and sell currencies under specific conditions that you set yourself.
In this case, our order would be instantly fulfilled if someone wanted to sell 0.01 BTC for the same limit price, set by us, and at the same time.
If you have any questions, do not hesitate to contact our Support team.