Frequently Asked Question

What is Post Only?

Post Only is a function added to Limit Orders which allows the ChainEX users to only place an order if he/she wishes to place a Maker Order. If a user places an order and that order will match an existing order in the order book, the order will not be placed. This will give the user the opportunity to change his/her order.

Firstly, What are Maker and Taker Orders, and what is the difference?

• Maker Order - A Maker Order is a new order added to the order book that does not match any existing orders, you are simply adding new orders to the order book.
• Taker Order - A Taker Order is a new order created that matches an existing order in the order book.

For more information regarding Maker and Taker Orders, please watch this video over here.

The difference between a Maker and a Taker is that the Maker does not pay any fees when placing an order but a Taker does pay a very small fee.

For more information regarding the ChainEX fees, please click here.

How to use it?

The Post Only function is very easy and simple to use, it is as easy as checking a box because that is all you would need to do.

When placing a Limit order, if you wish to make use of the Post Only function, all you will need to do is check the Post Only box by clicking on it before clicking on BUY or SELL.

You will fill out all the required information when placing a Limit Order:

• You will enter the amount you wish to BUY or SELL
• You will then enter the Price you wish to place your order for
• The Total and Net Total is calculated for you.
• Click on Post Only
• And then BUY or SELL.

If the order you had just place matches a current order, your order will not be placed but if the order does not match any order in the order book, then your order will be placed.

Here is an example:

You wish to BUY 0.001 BTC for R600 000 but you wish to be a Maker, therefore you place the following Limit Order:

• Amount - 0.001 BTC
• Price - 600000.00 ZAR
• Total - 600.00 ZAR
• Net Total - 601.44 ZAR
• Post Only - Checked

You click on BUY, but because there is an order in the order book that matches this order, your order does not get placed.

So what do you do?

You can either uncheck the Post Only and place the order as a Taker or you change the values to become a Maker.

Here is an example of your new order:

• Amount - 0.001 BTC
• Price - 599999.00 ZAR
• Total - 599.99 ZAR
• Net Total - 601.43 ZAR
• Post Only - Checked

You click on BUY and your order is placed as a Maker Order.

And there you so, it is that easy to use the Post Only Function.

For more information on how to place a Limit Order, please watch this video over here.