About Buy- and Sell orders
After depositing your assets you can immediately begin trading. It is a quite simple and quick process to do a trade. We advise our users to always do research on the crypto asset that you are about to invest in.
Though the principles are quite the same, users must understand that this is an exchange platform where you place orders to buy or sell coins and not an actual shop. This means, that an order will become fulfilled only once another user agrees with the given price.
Bid, or Buy order, is what other traders are willing to buy. An order will execute only once another user decides to sell at the buying price.
Ask, or Sell order, is the selling price that users are asking from the buyers. Just like above, an order will execute only once a buyer decide to purchase at the given price.
Once you set an order, whether you're asking or bidding, it will spawn to the order book and be public to other traders.
*Do be careful when you trade as transactions cannot be reversed. A mistake is a mistake. A trade that has been executed is irreversible. Since this is all digital products they are regarded as consumed at the time of purchase.
What is the Order Book?
In the order book you can see all the orders that users/traders are placing. Unless you cancel your order, it will stay in the order book indefinitely. What this means is that your funds, or a portion of them, will be pledged until the order is executed.
A buy order will be appear at the Bids/Buy Orders table, and a sell order will appear at the Asks/Sell Orders table.
What is in the Market History?
An order will appear in the market history once it's executed. The market history is always open and accurate, and users can see every trade has been made.
What is an Open orders?
When you are trading, and place an order you are essentially creating an offer. When placing an order there must be a counterpart user that accepts the offer. This means that your transaction will stay in open position until another user accepts the price you are asking/bidding for the coin. If no user accepts your offer (either that is selling or buying price), you have to wait for it to get fulfilled, if ever, or cancel it. You will find your order in this page (or by going to the bottom down of the trading page you are when exchanging).