EFIN Decentralized Exchange Tutorial – Taking Orders
In this guide, we’ll teach you how to take orders from the order book on eFin dex. eFin is the decentralized exchange powered by TokenPay. You can download eFin cryptocurrency wallet from eFin website to store your crypto currencies securely and can also use it as a crypto exchange to trade your crypto coins.
Keep in mind that with the TokenPay wallets, all of your funds and private signatures are yours, and yours only. We do not store any information about your seed phrases anywhere. This is why we urge everyone to keep them secure, even write your backup phrases on a physical piece of paper and keep it in your physical wallet. That way, you can treat it just like you would treat fiat currency: it’s all yours, in your pocket.
Hello everyone, welcome back to eFin. Today I’m gonna show you how to take orders from the order book. Now there are two types of orders in eFin, sell orders and buy orders. Sell orders appear with red in the order book and in the sell category, buy orders appear with green in the order book and in the buy tab.
Now, let’s say I want to buy Tpay using bitcoin, that means I have to take a green order. If you click one of them it will show you exactly what you’re gonna buy and what you’re going to exchange for it. So by taking this green order I’m buying 60 Tpay for 0.1 Bitcoin. If I confirm it the transaction will start processing and you’ll be able to see it right here in the open orders tab.
If you mouse over it, you will see a small notice of what the current process is. For example, you just see it just changed which means it went along. When it’s complete your funds will be in your crypto currency wallet and the wallet of the person you traded with. Now let’s see I want to take a read order which is a sell order. Now let’s say I want the Litecoin Tpay pair. Now I can go here and choose one of these which one is the most convenient for me.
Now the most convenient would be the one that has the lowest price. So in this case I would buy one Litecoin for a hundred and eighty nine Tpay. Most convenient orders are the ones from the bottom, these are as close to the market value as possible. If you feel like the price can be higher you can choose an order that’s higher in price.
For example I want to buy one Litecoin for 191 Tpay and I just click confirm, again the processing will start and I’ll get notified when I receive the funds with the notification. This is how you trade using the order book integrate. You can take any of the available orders as long as you have enough cryptocurrency for both the fees and the order itself. Thanks for watching.