Learn the components and functions in a crypto trading exchange.
Hey Crypto Farmers,
We are thrilled to launch one of the most revolutionary updates in gaming history & we’re glad the CropBytes family is with us to witness it.
“The CropBytes Trading Exchange will change how the world looks at in-game trading.”
We have revolutionized traditional game economics to make it easier for Players & Traders to earn. Our new 2.0 economics is systematically crafted to keep demand and supply well balanced.
Since we are going live with the new exchange soon, Let’s have a quick look at how it works and how players can utilize the exchange to trade and make profits in the game.
This format is universal, Though the UI and experience may differ in other exchanges, knowing the various components and functions are vital and will be applicable across crypto trading exchanges worldwide.
1. Trading Pairs
On the left of the exchange, we see a list of assets paired with the currency & its price. (ZNG / TRX)
Soon more cryptocurrencies like BTC & ETH will be integrated in the CropBytes exchange & form pairs like (ZNG/BTC) etc.
The search bar lets you quickly find the asset you’re looking for.
2. Price Ticker
The price ticker indicates the latest change in price. When the ticker is red it means that the price has reduced in that period.
When its green, it means the price/market has grown. The % indicates the factor of change in the period.
Price tickers are great to quickly glance at the different trading pairs and know how the market is performing.
3. Selected/Current Market
On selecting a trading pair from the list, the exchange will show detailed information about that particular pair.
Charts, Order Book, Trade History, Asks & Bids will be updated with the latest details on the selected pair.
4. Chart
Charts indicate the market rate and fluctuation over a period of time.
Candlestick charts are great and easy to use. Each stick represents a period. We can set the period according to our preference, it can vary from 1 minute to 1 month.
5. Order Book
It shows all the orders placed, the price, and the number of orders placed at a distinct price.
5.1 Asks
Ask are sell orders that are looking for a matching buyer.
5.2 Bids
Bids are buy orders that are looking for a matching seller.
6. Trade History
The trade history tab gives details about the price, time & quantity of completed/matched orders.
7. Order Creation
Buy and Sell orders can be placed here, Just enter the price and the amount of the asset you want to trade. Click buy or sell to place / create an order.
8. My Orders
My orders section shows all orders placed by the users. The Open Orders tab shows orders active in the market that have not yet matched.
Order History shows all the completed orders and their status
We have just gone through all the components of the CropBytes Trading Exchange, Click here to place your first order. In a further post, we will be going through more details & how to be better traders.
Stay tuned for more 🚀
