How do I trade on the Nash Exchange?
Many digital assets cannot be purchased directly using national currencies. To invest in these assets, you will need to trade. For instance, Ethereum can be bought through our currency partners then traded for a number of other tokens on the Nash Exchange.
Trading on the Nash Exchange involves two steps:
- Send funds to the trading contract.
- Place a trade order using either the simplified or advanced exchange interface. We recommend new users to use the “Basic” interface.
Sending funds to the trading contract
Your funds on Nash are stored in two places: your personal account and the trading contract. Your personal account lets you store your assets securely and send them to other addresses. The trading contract can interact with the Nash Exchange matching engine and lets you swap assets with other users.
For security reasons, the trading contract is restricted to transfers to and from your personal account.
To send funds to the trading contract:
Make sure you have funds in your personal account. Either purchase a digital asset from our currency partners or send assets from an external account.
To send assets from an external account, choose “Send/Receive” within the “Funds” or “Trade” screen. Select the asset you wish to send and indicate that you wish to move it from an external account to your personal account. Nash will provide you with your account address so you can move the funds from another wallet.
2. Open the “Send/Receive” window (see above), choose the asset you wish to trade and indicate that you wish to move it from your personal account to the trading contract.
Select the amount you wish to send and click “Continue”.
3. Enter your password and 2FA code to initiate the transfer.
Your funds will soon be available in the trading contract. You can check the status of your transfer by choosing “Funds > Transfers”.
Trading with the “Basic” interface
Nash provides a simplified trading interface for new users. This lets you make an exchange quickly, without giving you market data for analysis or offering conditional order types.
To use the “Basic” exchange:
1. Navigate to the “Trade” screen and flip the slider to “Basic”.
2. Select the token you want to trade and the token you want to receive.
3. Specify how much you want to trade, and at what price. You have two options:
a. By default, you can make a trade at the current market price by entering the amount you wish to sell or the amount you wish to receive.
Nash will place an order for you at the current market price. This means your order is likely to be filled quickly. Any unfilled portions will be canceled after 24 hours.
b. Alternatively, you can choose to set a specific price for your trade. Your order can match with orders at this price or better, but will not go beyond it.Choosing this option means your order might not all fill at once. Any unfilled portions will remain on the order book.
When you’re ready, choose “Review trade”.
4. Make sure you’re happy with the trade order. Enter your password and (if enabled) 2FA code to submit it, or go back if you wish to change any details.
Congratulations! You’ve sent a trade order to Nash!
You can view the status of your order under “Trade > Orders”. This also offers you the opportunity to cancel your order, if you so wish.
Trading with the “Pro” interface
Our advanced trading interface offers all the functionality professional traders need, including a clear presentation of market data, analytic tools and conditional order types.
To use the advanced exchange:
Navigate to the “Trade” screen and flip the slider to “Pro”.
2. Select the pair of assets you wish to trade from the “Market” dropdown in the top-left of the screen. You can switch the ordering of the pair by clicking the left/right arrows icon.
3. Enter your trade order in the bottom-right area of the screen. Nash offers Market, Limit and Stop orders.
For more information on order types and how to configure your order, click the “i” icon buttons within the Nash platform or look at our trading rules.
4. Once per session, when you create your order, you will be asked to review it and to provide confirmation with your password and (if enabled) 2FA code.
The “Orders” pane in the bottom-left of the screen allows you to check the status of your active orders, as well as your order history. If you wish, you can also cancel an active order. This information is also available on in the “Orders” tab to be found in the top-center of the screen.