Open Trading Network has been listed for public trading on Livecoin. net! So you can now not only mine tokens by trading on the IQ option platform but to sell these on the exchange.
Let’s look into how you can actually trade OTN now.
Once registration is complete, you will automatically return to the balance page. Here you can either deposit or withdraw your OTN tokens and fiat money.
2) Deposit OTN tokens
Deposit tokens to the exchange, click the Deposit button in the corresponding string.
The required amount of tokens from your Ethereum wallet should be transferred to this address.
IMPORTANT: It is highly recommended NOT TO withdraw tokens from IQ Option directly to this address. We recommend to store them in your wallet instead and withdraw them to an exchange if necessary. At the moment, deposits and withdrawals of OTN are NOT subjected to transaction fees by exchanges, except for the network commission of 0,5 OTN applied.
3) Move on to the trading
On the left side, find a block of assets, enter ‘OTN’ in search, two assets will be located. Each of them can be added to favorites by clicking on the star on the left. Here you can see the trading volume, the price of the last trade and the 24 hours price change.
On the right side you will find a chart of quotes with parameters, just as usual.
Right under it, you can switch to the market depth chart. This chart displays the so-called Order book and shows the volumes and the demand prices that can be distinguished by the color red, and the volumes and the supply prices distinguished by the color blue.
Below are the forms for creating orders. The blue one is for creating an order to buy OTN with BTC, the red one is for creating an order to sell OTN with BTC.
Enter how many OTN you are ready to sell/buy, as well as the price of these tokens. The total amount of how much you will need to pay and the amount of BTC you will receive when the order is executed is displayed in the third field.
Under each form, you can see the amount of cryptocurrency available for creating an order. Note: only the amount of vacant cryptocurrency that is not specified in any orders is displayed.
When creating an order, the required amount of OTN or BTC is reserved by the system before the execution or cancellation of an order.
From now on, you can deposit or withdraw cryptocurrency.
The ‘Order Book’ can be found below. The blue ones are the orders for buying OTN with BTC, the red ones are the orders for selling OTN for BTC.
The blue orders are sorted by descending price, the red ones – by ascending price, i.e. the most profitable buy offers (blue) and sell offers (red) are displayed on the first lines. ‘Price’ is the price per 1 OTN token, ‘Amount’ is the number of tokens to sell/buy, and ‘Value’ is the total order volume in BTC.
Execution of an order is a process of creating an opposite order with the same price. That is to say, if you want to execute an order for a purchase of 10 OTN at the price of 1 BTC, you should create an order for the sale of 10 OTN at the price of 1 BTC. The system automatically detects such orders and executes them, at which point pop-up notifications appear in the upper left corner of the screen.
You can also execute your order partially by creating a sell order of not 10, but 5 OTN at the price of 1 BTC. In this case, the status of the order to buy 10 OTN will continue to display as pending in the ‘Order book,’ but already with the ‘Amount’ of 5 OTN. So, when you click on the blue buy order, all its data is entered in the form for creating a red sell order, and vice versa, when you click on the red sell order, all its data is registered in the blue buy order form. You can manually change the volume and execute an order only partially.
If in the process of preparing for a transaction, an order that you wanted to execute was canceled, executed or its price was changed, then the created counter order will also NOT BE executed and will turn to ‘Pending’. It can be found in the list and canceled. The totals for the number of bought and sold tokens and the total volume of orders are displayed on the bottom line.
A list of open orders with the ability to cancel them. An order cannot be amended. In ‘Amount’, the number of executed tokens in the case of partial execution of an order is shown in gray brackets, while in the ‘Status’ the percentage of performance begins to be displayed.
To withdraw tokens or BTC, go to the ‘Balance’ page and request a withdrawal (https://www.livecoin.net/en/finance/index). All restrictions and tariffs are listed on the page https://www.livecoin.net/en/fees
Please let us know if this was helpful enough by commenting the article.
*IQ Option is a brokerage company and does not provide OTN tokens to clients. All tokens are provided by the OTN foundation. The OTN foundation confirms that it does not sell OTN tokens and that the activity is non- commercial.