All trading actions can be done in the Trading Dashboard. The panel where you can place orders is by default on the bottom left, named Order Entry.
- Spot: type of trading. Right now the only trading type on QRYPTOS is spot trading.
- ETHBTC: the market that is selected at the time. You can change to a different market by clicking on the pair and open a dropdown list.
Select Market to continue.
Fill out the Quantity field. This is how much you want to buy or sell. Placing a market order means you agree to buy or sell at market price, so there is no price choosing here.
- Cost: estimated amount of quote currency (in this case BTC) you need to spend to get the quantity you want. Cost = Average Price * Quantity
- Average Price: the price at which system estimates your order to be filled.
- Fee: all market orders have a taker fee of 0.15%.
You can check the price on top of the dashboard, or in the Orderbook on the right. The lowest price in red is the best market ask (how much you will spend to buy 1 ETH for this example, or how much people are asking for 1 ETH). The highest price in green is the best market bid (how much you can get from selling 1 ETH, or how much people are bidding for 1 ETH). Market orders are executed with these prices. The difference between them (0.05016 BTC in the screenshot) is called spread. The bigger the spread, the more volatile the market.
Now let's say we place a buy market order for 0.01 ETH. Put 0.01 in Quantity field and click Buy. Dashboard will ask you to confirm your order, so do give it a check before clicking Submit Order.
This is the system confirmation that you have placed a market order successfully for 0.01 ETH at 0.12497 BTC. Click the gray x button to dismiss.
Now you can see that your balance has changed, to 0.01 ETH and 0.01474518 BTC (top left). On the right of the dashboard, the order we just placed is reflected in the Orders tab, with a "filled" status.
The execution of this order is displayed in the Executions tab.
In the Transactions tab, things are slightly different. Below is how it looks in the BTC account.
And this is how it looks in the ETH account.
Note that in all orders, slippage can happen.