Buy, Sell TON in Cryptobot Exchange
We like it better than other centralized exchanges, here is why and how it works
There are many reasons to be using Telegramâs Cryptobot to buy, sell or exchange TON or BTC. As weâre interested in TON, weâll stick to the subject of TON in particular, though the same applies for other pairs offered at Cryptobot - which is one year old today, having launched on April 30, 2021.
Before we dive in to a quick laymanâs tour of how it works, let us remind ourselves what is wrong with using centralized exchanges such as OKX. Recent events have proven only too well, the problems:
When something goes wrong, it is not minor and simple and easy to fix, such as with services such as Cryptobot which are far less complex and much more manageable. When shit hits the fan in places like OKX, it is bloody major.
Who can afford to have their funds disappear for more than a week at a time?! Or when withdrawing, you wait for hours, days, with endless notifications of success, but in fact it arrives, if at all, very late, instead of within seconds or minutes?
These are frustrations you certainly do not have with a service such as Cryptobot - funds arrive in the wallet within seconds and withdrawals take seconds, or minutes at the most. Thatâs the way it should be, after all, TON blockchain transactions are fast, so services based on them have no excuse for big delays.
For the average crypto user Cryptobot is better
Why? Unless you are a professional trader, trading in tight margins and with increments down to 0.001 TON, or in perpetual swaps or other professional trader jargon and features, the Cryptobot Exchange is better for the rest of us:
It is simpler
It is within Telegram: no need to log in separately
It is fast, click and the result is near instant
There is no KYC âKnow Your Customerâ Identifications etc
It is private, your IP address, device etc are unknown to Cryptobot
It is actually more profitable, at least, this is what we found thus far
Traders will say that the fees per trade on places like OKX are as little at 0.1%, that is true, so you can trade on tighter margins, or, smaller variations in the price. The ticker is always flickering the latest price to .0001 TON, for example.
On Cryptobot the buy and sell offers you can make must be to a 0.01 TON price, for example it can be 1.90, 1.91, 1.92 etc but not 1.905. Now honestly, this is more than enough for us, who wants to trade at those tiny 0.001 steps in price?
These larger gaps actually work to our advantage, we have found it is easier to place and manage strategic and profitable offers, thus resulting in more profit.
The commission in the Cryptobot Exchange is 1%, in practice this works out very well: it is easy to calculate, and is very affordable. Keep in mind that using credit cards and most other payment services commissions are usually 3-5% or more.
Letâs take another look at part of the Cryptobot Exchange display:
In this case, TON is being offered for sale (Red) for 2.00, 2.02 and 2.03 USDT per TON. The amounts available are showing along side each price wanted, so there are a total of 1943 TON being offered at 2.00 USDT, if you wanted to buy them all, you would pay 3886 USDT in the above example.
If you wanted to buy TON youâd be looking at the lowest price of the offers in Red, that is, in the above display 2.00 USDT. If youâre OK with that you will tap on that row and depending on your USDT balance in the Cryptobot you can purchase however many you want, up to the maximum available 1943 TON.
If you choose on of those, your order will be instant, as it is available at the agreed price, so the transaction will take place as soon as you approve it.
Letâs say you arenât willing to pay 2.00 USDT and you want to pay only 1.95. You can then add your own offer, see below for details, to buy at 1.95, with however many USDT you are willing to put on hold for that.
Orders can easily be cancelled at any time prior to execution.
How long do you have to wait?
Depends on the amount of need to buy or sell, the closer you place your order to within the bottom red price and upper green price, the quicker it will be. It could be seconds, minutes, hours, days, if you place an order at an unattractive price, which however could become attractive in future when the going rate gets closer to your offer.
Likewise with the green rows. Letâs say you want to sell TON. If you want to sell quickly, you should tap on the top of the green rows, if the amount available to buy there is enough, otherwise it will in any case be taken by you, immediately.
If you are prepared to wait, however, and you want to sell at a higher price, look into the red rows, and select one that matches what you want to add your offer to. In the above display, if you go for 2.0 TON your offer of whatever amount you are selling, will be added to the 1943 already on offer.
Orders are always processed in the sequence in which they were placed, so your order can only be fulfilled once the 1943 TON have all been bought up. Obviously, the higher you place your offer price, the longer you may have to wait.
In this example, you can also see that there are no offers to buy or sell between 1.97 and 1.99, so if you place an offer to sell TON at 1.99 or to buy TON at 1.97, your order will be first in the queue to be filled when anyone places an order that matches what you want, or better.
What are these buttons down the bottom?
The first is a refresh button, click it to have the latest figures displayed. It doesnât update automatically, so if you are staring at it for a minute or so, better to refresh.
The green button with the + is to add your own buy or sell offer, you donât have to select an existing one. If it is the same value as other offers, itâll simply be added to that row, and in the queue for fulfillment.
The third one, the box, is your currently open orders. Click it to see them, how much of each has been fulfilled, if at all, and/or to cancel them. You can cancel orders that are partially completed (filled) or not filled at all. You can also access your order histories for past exchanges you have made (or cancelled).
The last button, the 4th from the left, â0.01â, you tap to change the rows from steps of 0.01 TON, to steps of 0.05 TON, 0.1 TON, and 0.5 TON. This shows you a wider range of offers above and below, as there are always 5 buy and 5 sell rows displayed, so as to fit nicely on the mobile phone screen.
Your own offers, are marked clearly in the rows, so you know where you have placed them. If you placed an offer at 2.13, then if it is not showing, you can tap that button and once you can see it may be in the 2.1 row, or the 2.0 row (if you are in steps of 0.1 or 0.5). You can only zoom in to the current 5 above and below the latest trade rate.
What about buying and selling to âfiatâ currencies?
If you want to buy TON with a range of currencies such as USD, EUR, RUB etc, or sell it for such currencies, you can do this in the Cryptobot market place.
Always check the amount of past trades of those in the market place, if you want to be successful, although Cryptobot protects both buyer and seller as your trade amounts are frozen until both sides have agreed.
You can find all this in the âMarketâ menu of Cryptobot.
What else is Cryptobot good for?
It is good for storing TON, BTC, USDT, USDC, BNB, BUSD too: you can make and receive payments in those currencies or hold them in your Cryptobot wallet.
As a custodial wallet, you donât need to worry about losing passwords or access, so long as you have Telegram. It is most ideal for beginners to crypto too.
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