Frequently Asked Question

Quick Buy and Sell allows you to instantly buy or sell digital currencies and is the easiest way to buy and sell digital currencies on ChainEX. It is recommended for beginner traders who are not interested in the advanced features of trading - which means you don't have to understand any of the intricacies about digital asset markets. You simply select what you would like to buy or sell and what you would like to pay with or receive. Performing a trade using Quick buy and sell is as simple as entering the amount you wish to buy or sell after which ChainEX will automatically perform a purchase or sale against current market prices.

Quick Buy and Sell provides you with four different currency options which are accessible from the Balance page: USDT or ZAR (which is based on your verification level and country), Bitcoin and Ethereum. The fourth option is a customizable option that can be personally selected by you under your ChainEX account settings. From the dialog loaded by selecting the "BUY" or "SELL" options on any of these four Quick Buy and Sell cards, additional markets can be accessed by simply selecting the relevant currency you wish to buy or sell and specifying in what currency you would like to pay or receive by making use of the "with" drop-down and the "for" drop-down. Once you have selected your desired Quick Buy and Sell option, you will enter an amount you would like to Buy or Sell. An estimated amount you will pay or receive for your order is then calculated. Please note that you do not only have to enter the amount you would like to buy or sell. You can also enter the amount you wish to pay or receive (this will be the WITH (Estimated) field). Quick Buy and Sell will then instead calculate the amount you will buy or sell. Once you have selected Buy or Sell, your order will be placed at the current market price and will be automatically matched against the best possible orders in the Order Book.

For example:

• Quick Buy/Sell option - Buy Ethereum
• Amount - 1 ETH
• With (Estimated) - 0.028 BTC

1. You will select "BUY" on the ETH Quick Buy/Sell card to buy Ethereum.
2. There are two drop-down menus displaying two coins, the first should be ETH (in this example we are purchasing Ethereum) and the second should be BTC (in this example we are using our Bitcoin to purchase Ethereum).
3. In the "BUY" field, you will enter the value 1, which indicates that you would like to purchase 1 ETH.
4. An Estimated cost of 0.028 BTC is calculated and displayed in the "WITH (Estimated)" field.
5. Next, select Buy and confirm that all the information loaded is correct.
6. The amount specified will automatically be bought from the ETH/BTC market against the best-placed orders which currently exist.

For example:

In this example, you would like to buy Ethereum but you do not want to spend anything more than 0.1 BTC.

• Quick Buy/Sell option - Buy Ethereum
• Amount - 3.6 ETH
• With (Estimated) - 0.1 BTC

1. You will select "BUY" on the ETH Quick Buy/Sell card to buy Ethereum.
2. There are two drop-down menus displaying tow coins, the first should be ETH (in this example we are purchasing Ethereum) and the second should be BTC (in this example we are using our Bitcoin to purchase Ethereum).
3. In the "WITH (Estimated)" field, enter the value 0.1, which indicates that you would like to spend 0.1 BTC.
4. You will notice that the "BUY" field has updated to the amount of Ethereum you will purchase, which will be 3.6 ETH.
5. Next, select Buy and confirm that all the information loaded is correct.
6. The amount specified will automatically be bought from the ETH/BTC market against the best-placed orders which currently exist.

For a step-by-step tutorial on "How to use Quick Buy and Sell, click here.

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