Buying & Selling on Klever Exchange

After you open a trading account and follow all the steps, you will come to a trading desk, where you can see buying & selling happening on a real-time basis.

Now, let's understand how you can start trading on Klever Exchange. Trading should not be complicated, but very simple. 

Once you have the required crypto in your account, you need to select the coin/token which you wish to buy. As soon as you have decided you can place an order for the coin at the prevailing market price. Once the order is placed, if there is any seller at that price, the coins will be into your account and the crypto will be deducted.

However, you might want to buy any coin/token below the market rate. For this, you need to check the order book to place an order at the rate you wish to buy. The same way if any seller is looking to sell its coins/tokens at a particular price and if that price matches to your price you are looking to buy, the deal goes through and you get the coin and the seller gets whatever he wants in return.

What is an order book?

The order book shows the current market depth. The market depth refers to the market's ability to keep prices unchanged on large transactions. The depth reflects that at certain prices, the real-time outlines of buyers and sellers in the order book can be clearly seen for execution. 

The red prices represent the sales price, while the green prices represent the purchase price.
The amount represents the total number of contracts at the agreed price.

What is market order?

Market orders are the easiest way to handle buy and sell orders. You don’t need to think about any special prices, as the order uses the last actual price on the market.

A market order attempts to buy/sell at the current market price. You just need to enter the amount of coins or token you want to buy or sell, and your order is processed immediately

What is the limit order? 

A limit order is the smartest way to trade on the exchange, as you get to define your price. When you buy/sell at a limit price, you set the price you want to buy/sell at. 

In limit orders, you’ll either get a better price, or the price you asked for. The danger with limit orders is that if you are trying to take profits, and you set your limit too high/low you may miss an opportunity to fill your order. 

How does the limit order work? 

A limit order places an order on the order book in hopes that it can be filled with a limit order. A sell limit order is called an ask and a buy limit order is called a bid.

Limit orders will fill as market orders buy or sell into limit orders. The last order filled is the market price. With the exact mechanics of exchanges aside, the basic concept here is that someone else is placing a market order and that market buy or sell fills your limit order. 

Limit orders aren’t subject to slippage and sometimes have lower fees than market orders. You can set a limit buy or limit sell.

The handling itself is quite easy, so let’s go through the steps.

  1. First, you need to hit the Trade button in the bottom of the Klever Exchange App or click on Start Trade on the Klever Exchange Web Version (more details can be found here)

  2. Then, check the last price at the order book 

  3. Select the Buy or Sell option (depends on your objective)

  4. Enter the price of the coin you are willing to pay for

  5. Enter the amount of coins you want to trade 

    • You can enter the amount by yourself

    • Or select the percentage you want to trade

  6. Confirm your order by pressing the Buy or Sell button

By confirming your order, the order gets placed into the order book until the price of your choice is reached.

As soon as the price is reached, your order starts to be processed and will vanish on the pairing screen, as soon as your order gets 100% filled.

Jagdish Kumar

Klever Writer

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Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Klever will make best efforts to choose high-quality coins, but will not be responsible for your trading losses. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. Klever Exchange is not liable for investment gains or losses.

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