The following guide will show you how to use the Eidoo hybrid crypto exchange, after downloading the app here for your mobile (iOS or Android) or desktop.
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After the latest update of the app you will see two new tabs on the top of the main page: Personal and Trading.
The Trading wallet is a special address managed by a smart contract that can be accessed exclusively by the owner of the Personal wallet.
It can be used to deposit and withdraw cryptocurrencies which can then be traded on the crypto exchange. Nobody else but the owner of the Trading wallet has access to its funds.
Download the app for your mobile: iOS or Android or for desktop.
Create the activation transaction
Click on the CREATE button to generate the activation transaction.
Your Trading wallet will be activated once the transaction has been confirmed by the blockchain.
Please note this is a 0 ETH transaction and, therefore, you will need to have some ETH on the Personal wallet to pay the transaction fee.
Interaction with Trading wallet
After your Trading wallet has been activated you can click on either TOP UP or on the asset you want manage.
Clicking on the asset you will see this panel that allows you to Import/Withdraw your assets.
These will be standard transactions on the Ethereum blockchain towards a smart contract.
Deposit on your Trading wallet
As you can see you will be redirected to the transaction page where you can establish how much you want to deposit on your Trading wallet or withdraw from your Trading wallet to your Personal wallet.
Use the crypto Exchange on your mobile or desktop
Once you have topped up your Trading wallet you will be ready to finally use the crypto exchange! Click on the button “Exchange” on the navigation bar, at the bottom of the screen. This is what you will see. It is an example of a trading pair on the crypto exchange.
All pairs will be visualized with a similar tab. Currency unit prices are quoted as currency pairs.
The base currency – also called the transaction currency – is the first currency appearing in a currency pair quotation, followed by the second part of the quotation, called the quote currency or the counter currency.
Get EDO Tokens to start trading on the crypto exchange
Exchange fees are paid in EDO tokens so in case you do not have any EDO tokens you can buy a small amount via a quick EDO purchase by clicking GET EDO.
Simply select the amount you want to buy and confirm the transaction with your password.
The EDO tokens will be paid with the ETH present in your Personal wallet and then they will be automatically sent to your Trading wallet.
Order Book
The following guide will show you how to understand and interact with the order book of a trading pair.
For the creation of this guide we have used the EDO/ETH pair as an example.
Pairs will be Token/ETH, Token/Token, ETH/Token. The order book works in the same way for every pair.
This is the Order book page for the EDO/ETH pair. Using the tabs at the top you can easily navigate between the ORDER BOOK and the list of YOUR ORDERS.
The order book is divided in 3 sections:
1. Price
2. Volume per single order
3. Total volume
The Price is always expressed on the quote whereas the volumes are expressed on the base. In this case the quote is ETH and the base is EDO.
Buy EDO with ETH
This is an example of how to create an order.
This is a BUY order.
To make one, after clicking the BUY button, you will have to specify the amount of ETH you want to pay and in the Price field how much ETH you want to pay for each EDO token.
Please note that the Price field will be already set to the last executed order price.
You will also see the minimum amount of tokens you will buy and the EDO fee you are going to pay as a taker.
The LOWEST ASK field on the top left of the screen shows the lowest market price.
Your order will stay active.
After placing an order, it will be added to the order book.
You will be able to tell where your order is placed as the row will be highlighted and there will be a dot at the beginning.
Your order will stay active until an opposite order that will satisfy it will be placed.
Please note there is a minimum order amount required for every pair.
You won’t be able to place your order if it doesn’t reach the minimum required.
This is an example of how your orders are handled by the relative tab.
You can see 3 different cases:
1. Active filled order
2. Active unfilled order
3. Completed order
As you can see there is a red circle that shows how much of the sell order has been filled.
In case of a buy order the circle would be green.
An order loses its active state once the transaction has been confirmed by the blockchain.
If you want to Delete your Active order
Finally, in case you want to delete one of your ACTIVE unfilled or partially filled orders, you will only have to swipe the order from right to left, click on Cancel and insert your password.
Please note that if one of your active orders is partially filled and the amount left is smaller than the minimum required, your order will not be present in the order book anymore.
How exchange fees work
The crypto exchange charges fees only for orders or partial orders that are immediately filled.
The charged fee is calculated on the immediately filled amount only. No fees will be charged for orders that are not immediately filled.
Trading fees are charged ONLY in EDO tokens.
The max fee value shown in the order creation form is the upper boundof the fee you’ll pay if your order is immediately filled.
Costs related to your trading wallet
In order to trade on the Exchange you need to create a smart wallet (named Trading Wallet).
The Exchange is allowed to perform operations on the Trading Wallet every time an order is filled.
That’s the reason why we call it Eidoo Hybrid Exchange.
All the transactions between your Personal and Trading Wallet are transactions on the Ethereum blockchain, therefore subjected to blockchain fees.
Blockchain fees are paid to miners using your Personal Wallet funds and Eidoo does not profit from them.
To create the trading wallet, you must perform a one-time 0 ETH transaction, therefore the creation cost will be relative only to the blockchain fee.
Remember to Download the app for your mobile: iOS or Android or for desktop.